The Dow Jones industrial average rose 166 points, or 1.1 percent, to 15,333 in morning trading following a report that House Speaker John Boehner had agreed to take up a Senate compromise on raising the debt ceiling.
The National Association of Home Builders/Wells Fargo builder sentiment index slipped two points to 55. The September reading was revised down from an initial reading of 58.
Overall Industrial segment profit excluding charges was 14.5% down from the 3Q 2012 rate of 15.4% due primarily to investments in organic growth initiatives and the mix impact of Infastech’s modestly below line average margins.
Buffett said he thinks it would be absurd for American politicians to do anything to damage the country's reputation for paying its bills that has been established over the past 237 years.
Sales of $2.4 billion increased 5% versus $2.3 billion in the third quarter of 2012. Net earnings for the third quarter increased 3% to $211 million versus $155 million in 2012. Earnings per share of $2.95 increased 37% versus $2.15 in 2012.
The company says the move will help make the vehicle more affordable for the U.S. Army and Marine Corps. The Sealy plant in Texas where the prototype was made will close.
Sales in the third quarter in local currencies increased by 1% in Europe, by 9% in Latin America, by 5% in Asia and by 8% in Middle East and Africa. In North America they decreased by 2%.
The Supreme Court has agreed to consider whether the Environmental Protection Agency overstepped its authority in developing rules aimed at cutting emissions of six heat-trapping gases from factories and power plants.
"The succession moves we are announcing today place proven Goodyear leaders in key roles that will enable us to stay on our Strategy Roadmap and maintain our positive momentum," said Goodyear Chairman and Chief Executive Officer Richard J. Kramer.
Established in 1945, the Hammond Company is a local, full-service distributor of cutting tools and accessories. Over the years they have developed a reputation for hands-on application expertise and for offering a large on-the-shelf inventory.
A Chinese ecommerce giant may go public to raise the revenue it needs to compete head-to-head with other sites and the industrial marketplace.
Stalling growth that reached a decade-low this year has marred India's economic outlook, while high inflation leaves little room for the central bank to boost demand by cutting interest rates.
Stocks are heading lower as lawmakers continue to work on a deal to avoid a U.S. default and reopen the government.
Majority Leader Harry Reid, D-Nev., and GOP leader Mitch McConnell of Kentucky could seal an agreement just two days before the Treasury Department says it will run out of borrowing capacity.
Eurostat, the EU's statistics office, said industrial production rose 1 percent. The increase was roughly in line with market expectations and the biggest monthly rise since July 2011. It also recouped July's equivalent decline — summer figures can be volatile given the holiday season.
The rising demand for new cars is creating a problem for parts suppliers — and that, in turn, could hurt the growth of car plants in Mississippi, a trade association official says.
Swedish manufacturer SKF said Tuesday that it has received antitrust approvals in the U.S. and Germany for its pending acquisition of Kaydon Corp. but did modify its requirements for closing the deal due to the federal government shutdown.
The United States moved perilously closer to an economy-rattling default and a partial government shutdown entered its 14th day as Senate Democratic and Republican leaders remained at odds over spending in their last-ditch negotiations to end the crises facing the nation.
The new factory, located in the Oksan Industrial Complex, is three times larger than the original ITT pump manufacturing plant and will produce, package, and test highly engineered pumps under the Goulds Pumps brand.
With time running short, President Barack Obama and House Speaker John Boehner accelerated efforts Friday to prevent the U.S. Treasury from default and end a partial government shutdown that stretched into an 11th day.