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How the major US stock indexes fared Wednesday

Submitted by Fox First at Ten on November 7th

By The Associated Press Wall Street greeted a second Obama term the way it greeted the first. Investors dumped stocks Wednesday in the sharpest sell-off of the year. With the election only hours behind them, they focused on big problems ahead in Washington and across the Atlantic Ocean. The Dow

News Summary: US stocks have worst drop of 2012

Submitted by Fox First at Ten on November 7th

By The Associated Press CERTAINTY FAILS: Investors dumped stocks Wednesday in the sharpest sell-off of the year, just hours after President Barack Obama was re-elected decisively. Traders had hoped that the election would bring certainty and lift the market. The opposite happened. GRIM HORIZON

Figures on government spending and debt

Submitted by Fox First at Ten on November 7th

WASHINGTON (AP) - Figures on government spending and debt (last six digits are eliminated). The government's fiscal year runs Oct. 1 through Sept. 30.

News Summary: Oil slides to lowest since July

Submitted by Fox First at Ten on November 7th

By The Associated Press OIL SLICK: Crude oil plunged nearly 5 percent, its biggest drop of the year, as traders turned their focus back to problems facing Europe and the U.S. now that the election is over. HOW BAD: Oil dropped $4.27 to finish at $84.44 a barrel, the lowest since July. Other

Mondelez 3rd-quarter net income falls 29 percent

Submitted by Fox First at Ten on November 7th

DEERFIELD, Ill. (AP) - Mondelez International Inc. said Wednesday its net income fell in the third quarter, as revenue took a hit from the stronger dollar in its first quarter as an independent company. Mondelez, formerly known as Kraft Foods Inc., makes snacks including Oreo cookies, Cadbury and

News Summary: US consumer credit rises $11.4B

Submitted by Fox First at Ten on November 7th

By The Associated Press MORE BORROWING: Americans took out more student and auto loans in September, boosting consumer borrowing to a record level. But they cut back on credit card borrowing, a sign many remain cautious about taking on high-interest debt. STUDENT LOANS RISE: Consumer borrowing

Crude oil plunges; other commodities also weaken

Submitted by Fox First at Ten on November 7th

By The Associated Press Oil and other energy products closed sharply lower Wednesday in the wake of the presidential election as traders turned their focus back to the problems facing Europe and the U.S. The prices of copper and other metals also fell. Agricultural commodities were mixed. Crude

Fannie Mae earns $1.8 billion in third quarter

Submitted by Fox First at Ten on November 7th

By MARCY GORDONAP Business Writer WASHINGTON (AP) - Mortgage giant Fannie Mae earned $1.8 billion from July through September, helped by an improving housing market that has lifted home prices. The government-controlled company said Wednesday that it paid a dividend of $2.9 billion to the U.S.

At London dinner, Merkel urges UK support for EU

Submitted by Fox First at Ten on November 7th

By RAF CASERT and RAPHAEL SATTERAssociated Press LONDON (AP) - Over venison dinner at London's Downing Street, German Chancellor Angela Merkel lobbied one of the European Union's most reluctant members to back a program of integration which would see more powers and more money handed to