U.S. stocks advance after two days of heavy losses

Date: Fri, 07 Nov 2008 12:01:13 -0500
U.S. stocks advance after two days of heavy losses

ECONOMIC REPORT: UNEMPLOYMENT RATE LEAPS TO 14-YEAR HIGH OF 6.5%

The U.S. unemployment rate jumped to a 14-year high of 6.5% in October
as nearly a quarter million jobs were lost, the Labor Department
reports.

FORD SETS MORE COST CUTS AS IT NARROWS THIRD-QUARTER LOSS

Ford Motor Co. on Friday said it narrowed its third-quarter loss,
boosted by a one-time gain of more than $2 billion, but announced more
wrenching cost and job cuts in the face of plunging sales.

OBAMA WILL MAKE ECONOMIC MARK BEFORE INAUGURATION

Democratic lawmakers called Thursday for a new stimulus package worth
up to $100 billion while President-elect Barack Obama scheduled a
meeting with his new economic transition team to begin addressing the
nation's economic troubles well before his Jan. 20 inauguration.

DISNEY PROFIT DECLINES 13%

Walt Disney Co. says its quarterly profit fell 13% due to a $91 million
bad-debt charge on a payment it was due from Lehman Brothers and the
combination of higher expenses and less successful films at its studio
entertainment division.