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Tuesday Afternoon Business Brief

November 6, 2012, 1:52 PM

Tuesday Afternoon Business Brief

After a lackluster session yesterday, stocks have rallied strongly today. The Dow has been up 150 points and the other key averages have logged gains as well.

  • The Labor Department says the nation's employers posted fewer job openings in September after advertising more jobs in August than first estimated. With more than 12 million people unemployed in September, there were 3.4 unemployed people, on average, competing for each open position.
  • Mortgage giant Freddie Mac earned $2.9 billion in the third quarter. The government sponsored finance giant says it paid a dividend of $1.8 billion to the U.S. Treasury and is requesting no additional federal aid.
  • The price of oil has risen more than $2 a barrel today. If the gain holds, it would be the biggest one-day jump in a month.
  • Superstorm Sandy, which darkened Broadway while causing billions of dollars in damage along its path last week, also ravaged the box office revenues around Times Square. Newly released figures indicate that shows lost more than $6 million, compared to the previous week.

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