U.S. stocks trim losses after sign of some stability in housing

Date: Tue, 09 Dec 2008 12:01:08 -0500

U.S. stocks trim losses after sign of some stability in housing

U.S. stocks scale back losses as a leading indicator of the housing
market proves less dire than expected, offsetting disappointing
forecasts from Texas Instruments and FedEx.

FUTURES MOVERS: OIL TRADES FLAT NEAR $44 A BARREL AFTER MONDAY'S RALLY

Oil futures traded little changed near $44 a barrel Tuesday after
surging 7% in the previous session, as traders considered a possible
production cut by the OPEC oil cartel at its upcoming meeting.
NEW YORK TIMES WARNS OF 'CHALLENGING' YEAR IN 2009

New York Times Co. says it expects next year to be "among the most
challenging" it has ever faced as advertising revenues fall further.

U.K. RETAIL SALES FELL IN NOVEMBER AND 2009 LOOKS EVEN WORSE

Total U.K. retail sales fall for a second month in November, a survey
from the British Retail Consortium shows Tuesday, as cash-strapped
customers rein in. their holiday spending.

SONY TO CUT 8,000 JOBS AND CLOSE 10% OF MANUFACTURING SITES

Sony Corp. plans to cut 8,000, or 5%, of the jobs in its electronics
division and close about 10% of its 57 manufacturing sites worldwide
in an effort to save more than 100 billion yen ($1.08 billion) by
March 2010.