Stocks slightly higher...Prices up slightly...2.8 percent COLA
NEW YORK (AP) — Stocks are slightly higher in unsteady trading one day after their biggest drop since February. A report indicating that inflation remains limited seemed to calm U.S. investors. Following yesterday’s sell-off in the U.S., markets in Asia tumbled and European stocks suffered more modest losses.
NEW YORK (AP) — Bond yields, which have spiked over the last week, slid after the Labor Department said consumer prices grew only slightly in September. That’s a sign inflation remains under control and it suggests the Federal Reserve won’t have to raise interest rates at a faster pace.
WASHINGTON (AP) — Consumer prices edged up a slight 0.1 percent in September as energy prices retreated after a big gain in August. The Labor Department says that the September gain in its closely watched consumer price index followed a 0.2 percent rise in August. It was the smallest monthly gain since June. For the 12 months ending in September, consumer prices were up 2.3 percent. Core inflation, which excludes volatile energy and food costs, rose 0.1 percent in September, the same level as in August. It is up 2.2 percent over the past year.
WASHINGTON (AP) — Tens of millions of Social Security beneficiaries and other retirees can expect an increase in benefits next year as inflation edges higher. The government announced a cost-of-living adjustment of 2.8 percent today. That would mean an extra $39 a month for the average retired worker. Seniors count on the money to help keep pace with rising prices for health care and housing.
NEW YORK (AP) — Shares in Sears continue to take a beating, on a report that banks are pushing the 130-year-old retailer to liquidate. The report in The wall Street Journal comes one day after stock in Sears Holdings Corp tumbled 30 percent. Shares have fallen 86 percent this year. Just a quarter of the 4,000 stores that were operating six years ago still have their lights on.