NEW YORK (AP) — Wall Street is sending stocks up in the early going. That’s in contrast to yesterday’s decline, which came after rating agencies raised doubts that last week’s agreement to tighten oversight of European countries’ budgets will stem the region’s financial crisis.
FRANKFURT, Germany (AP) — Further signs of stress have emerged connected to Europe’s debt crisis, even after the recent summit agreement. Italy’s borrowing rates in the markets ratcheted even higher and back towards the levels that forced Greece, Ireland and Portugal into seeking financial bailouts.
WASHINGTON (AP) — Americans spent more on cars, furniture and clothing last month, propelling retail sales higher for the sixth straight month. The Commerce Department says sales were up 0.2 percent. October’s gain was revised higher to show a 0.6 percent increase.
WASHINGTON (AP) — AT&T and two of its rivals have agreed to postpone their lawsuits over AT&T’s acquisition of T-Mobile USA now that the $39 billion deal is in jeopardy. AT&T says it is considering along with T-Mobile parent Deutsche Telekom of Germany whether to revise the plan to try to win regulatory approval.
VIENNA (AP) — OPEC ministers are expected to agree to a common position on how much oil to market when they meet Wednesday. Disputes pitting Iran and Venezuela against Saudi Arabia and its allies persist. Iran and Venezuela want Gulf nations to cut back on overproduction, something the Saudis — OPEC’s oil powerhouse — are unlikely to agree to.