The number of Americans receiving unemployment benefits jumped to a quarter-century high and home foreclosures rose 25 percent in October, in reports suggesting a rapid economic slowdown.
Wal-Mart beat quarterly expectations as cash-strapped shoppers sought lower-priced alternatives.
The White House continued to voice opposition to including the auto companies in the $700 billion bank bailout plan. Meanwhile, President-elect Barack Obama was exploring alternatives, an aide said on Thursday.
Conway Gittens reports from New York.
