User uShare Login | Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.

65° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options




[0] My Saved Articles
Back to all news


Find local businesses
on the KELO Pages!


Thursday Afternoon Business Brief

February 13, 2014, 2:06 PM

Thursday Afternoon Business Brief

Stocks are moving higher on Wall Street as investors assess the latest corporate earnings. Goodyear Tire & Rubber and broadcaster CBS rose after reporting strong earnings gains. Those upbeat reports are helping to offset reports of rising jobless claims and slowing retail sales. The Dow was up more than 70 points in afternoon trading, while the S&P 500 has added 10 points and the Nasdaq composite was up more than 30.

  • U.S. businesses restocked at a faster pace in December. The Commerce Department says inventories rose 0.5 percent. At the same time, sales growth slowed to just 0.1 percent. Together the figures point to a risk for the economy: if companies build stockpiles at a faster pace than their sales are growing, they may end up stuck with more goods than they need.
  • Winter storms appear to be undercutting the nation's economy. The latest evidence comes from the government's January retail sales report out today. It shows a drop of 0.4 percent last month. That followed a smaller decline in December. The news comes as another snowstorm blankets the eastern third of the country. All the snow and cold has some economists lowering their growth estimates for the January-March quarter.
  • Mortgage rates remain near historically low levels. But after sinking the past five weeks, the average rate on a 30-year fixed mortgage edged higher this week to 4.28 percent.  Freddie Mac says the average for a 15-year loan was unchanged at 3.33 percent.
  • A massive coal ash spill on the Dan River in North Carolina is now the subject of a federal criminal investigation. The spill at a Duke Energy plant in Eden spewed enough toxic ash into the river to fill 73 Olympic-sized pools. The U.S. Attorney's Office has issued a grand jury subpoena requesting records from Duke Energy and the state environmental agency. Yesterday, the agency withdrew a proposed settlement over the pollution amid criticism that it shielded Duke from more expensive federal penalties.

Previous Story

Next Story

Find Local Businesses on KELO Pages!

View business

You may also like

First DTSF Incubator Store Open For Business

7/23/2014 6:30 AM

605 Running Co., 124 S. Phillips Avenue, just opened its doors on Friday. It's a big grand opening for the store, but also for Downtown ...

Full Story | Watch
Fruit From Walmart And Costco May Be Contaminated

7/22/2014 11:23 AM

A Central California company has issued a voluntary nationwide recall of specific lots of its fresh peaches, plums, nectarines and pluots over concern...

Full Story
Third Walmart Preparing To Open In Sioux Falls

7/22/2014 6:10 PM

Sioux Falls latest Walmart store is preparing to open in just a few weeks.

Full Story
Lance Armstrong Is Grand Marshal For Sturgis Ride

7/21/2014 3:02 PM

Dethroned cyclist Lance Armstrong has been named the official grand marshal of the mayor's ride to kick off the Sturgis Motorcycle Rally.

Full Story
Deciding When To Collect Social Security

7/22/2014 10:10 PM

78 million Baby Boomers are retiring or preparing to retire.  The question they all face is when to draw their Social Security benefits. 

Full Story | Watch