Dec
24
2008
Stocks close higher in shortened holiday trading
Posted by doris in Business, Wall StreetNEW YORK – Wall Street rose modestly in light holiday trading Wednesday after the government released downbeat but unsurprising readings on rising joblessness and declining consumer spending.The swelling rate of unemployment has been particularly worrisome to investors. The more people lose their jobs, or fear they will lose their jobs, the more they close their wallets. And consumer spending accounts for more than two-thirds of U.S. economic activity.
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