U.S. stocks lose steam as rate cut hopes fade

11:41 am ET Mar 9, 2007

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U.S. stocks lose steam as rate cut hopes fade

NEW YORK
U.S. stocks remained higher but were well off earlier highs on Friday,
as news of rising wages in an otherwise in-line February jobs report
dashed hopes that the Federal Reserve might cut interest rates as early
as hoped to help stave off an economic slowdown.

Economic Report: U.S. Feb. payrolls up 97,000; jobless rate falls to
4.5%

WASHINGTON
Hit by wintry weather in February, the U.S. economy created the fewest
jobs in two years, even as the unemployment rate fell to 4.5%, the Labor
Department reported Friday.

IPO Report: Xinhua IPO launches after rough seas

NEW YORK
Xinhua Financial Media priced its initial public offering in the middle
of its range for its stock market debut Friday as the Chinese news
service managed to move ahead despite last week's big sell-off.

New Century stops accepting loan applications

SAN FRANCISCO
New Century Financial Corp. said late Thursday that it has stopped
accepting loan applications because some of the subprime-mortgage
specialist's financial backers are refusing to provide access to
financing.

Minorities paying more for home loans: study

WASHINGTON
African-American and Latino borrowers are paying more than whites for
home loans in six areas around the country, a study released Thursday
showed.