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Tuesday Afternoon Business Brief

September 11, 2012, 1:26 PM

Tuesday Afternoon Business Brief

Stocks are higher on Wall Street. Stocks are bouncing back after yesterday's declines.

  • House Speaker John Boehner says he's not confident that Congress can reach a budget deal and avoid a downgrading of the U.S. debt rating. His comment came as Moody's Investors Service said it would likely cut its rating on U.S. government debt if budget negotiations fail.
  • The Labor Department says the nation's employers posted fewer jobs in July than in June. And June's postings were revised downward. That follows word on Friday that payrolls growth slowed in August, and more people gave up looking for work.
  • The nation's trade deficit swelled to $42 billion in July. There were fewer U.S. goods being exported to Europe, India and Brazil.
  • For much of the economic downturn, fast food McDonald's has seemed to be finding favor among consumers. It says a key sales figure climbed 3.7 percent in August, and sales in the U.S. rose helped by a push for its breakfast menu and value items.

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