U.S. stock indexes erase gains to tally losses for seventh day

Date: Thu, 09 Oct 2008 12:02:59 -0400
U.S. stock indexes erase gains to tally losses for seventh day

U.S. stocks turn lower for a seventh consecutive day as financial shares
weigh, dimming earlier enthusiasm that came after International Business
Machines Corp. topped profit estimates.

Economic Report: U.S. initial jobless claims fall back in latest week

Fewer Americans filed initial unemployment claims in the latest week,
the Labor Department reported Thursday, even as the four-week average of
initial claims rose amid the current economic slowdown.

U.S. may take ownership stake in banks: NYT

In another attempt to loosen credit markets and restore confidence in
the financial system, the Treasury Department is considering a plan to
take ownership stakes in many U.S. banks, both healthy and troubled,
according to a media report.

U.K. house price drop 12% year-on-year, lender says

British house prices continue to fall in September, with the average
price down 1.3% from August and 12.4% below the level seen a year ago,
mortgage lender Halifax reports Thursday in its monthly survey.

IBM gets a lift on strong earnings report

IBM gives the tech sector a bit of breathing room by posting a 20% gain
in third-quarter profit and reaffirming its earnings forecast for the
year.