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August 26, 2011 01:19 PM

Friday Afternoon Business Brief


The Dow is up by triple digits in afternoon trading.
This after Federal Reserve Chairman Ben Bernanke said the U.S. is on track for long-term economic growth. But oil prices are lower on news that the economy didn't grow as fast as previously expected.
  • Federal Reserve Chairman Ben Bernanke is leaning on Congress to do more to spur job growth. The alternative, he says, will risk delaying the economy's return to full health. Economist Paul Dales says the Fed chief appears to be saying lawmakers "need to step up their game."
  • One analyst says Gap, the nation's biggest clothing chain, is starting to make some headway on improving its numbers. It should start to see better sales of its clothing come spring, especially now that cotton prices have dropped. Gap stores have been struggling for years.
  • At a time when backpacks and school supplies fly off store shelves, generators, bottled water and flashlights are the hot items. Retailers in North Carolina are getting a boost from preparations for Hurricane Irene. A hardware store in Nags Head is out of portable generators.
  • It's time to cash in the chips and go home. At least 10 of Atlantic City's 11 casinos are shutting down in preparation for Hurricane Irene. There's still no word on whether The Borgata Hotel Casino & Spa will close. It's only the third time New Jersey's casinos have closed.
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