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Thursday Afternoon Business Brief

August 30, 2012, 1:20 PM

Thursday Afternoon Business Brief

For the first time this week, the stock market is seeing some volatility. The key averages have been lower since the opening bell. Wall Street has a three-day weekend ahead.

  • Even with depressed consumer confidence, retail spending has been stronger in recent months. Retail chains today reported a rise in August numbers. And that came after the Commerce Department said July spending was the strongest in five months.
  • Freddie Mac says mortgage interest rates fell this week, now slightly above record lows reached earlier this year.  The average for 30-year mortgages fell to 3.59 percent.
  • The Carlyle Group says it is buying DuPont's performance coatings business for $4.9 billion in cash.   Carlyle's investments in the automotive and industrial segments already include Allison Transmission, PQ Corp. and Hertz.
  • Amazon.com says its Kindle fire is "sold out". That sets the stage for its news conference next week, at which it is widely expected to unveil a new model of the tablet computer.

You can find the latest business news on the Back To Business page of KELOLAND.com. 

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