Business and Financial News: Realtors expect home prices to fall

9/7/2006 12:00:09 PM

Realtors expect home prices to fall
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U.S. home prices will probably fall temporarily as the housing market
corrects, the National Association of Realtors said Thursday.

U.S. stocks sink, pressured by Palm and homebuilders
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NEW YORK - U.S. stocks fell for a second day Thursday on concern over
the outlook for the economy after a report warning of housing prices
will fall and as home builders, KB Homes and Beazer Homes Inc. cut their
profit forecasts.

Economic Report: Continuing jobless claims rise to six-month high
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WASHINGTON - In a sign the labor market isn't creating enough of the
right kind of jobs, the number of people collecting state unemployment
benefits over the past four weeks rose to the highest level since
February, the Labor Department said Thursday.

Palm shares skid on warning revenue to come up short
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LOS ANGELES - Shares of Palm Inc. dropped by as much as 10% Thursday,
retreating after the handheld-device maker warned that quarterly sales
would fall short of its goal due to lower-than-expected shipments of its
Treo devices to retailers.

Bank of England holds key interest rate at 4.75%
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LONDON - The Bank of England on Thursday held its key interest rate at
4.75%, a month after making a surprise tightening, as it balanced
signals that economic growth may be slowing with persistent concerns
over inflation.