Stocks Rise, Boosted by Economic Data
Stocks are trading modestly higher after a mixed morning
session. Early gains, due to several retailers reporting strong
August sales, were erased following the release of mortgage
foreclosure data by the Mortgage Bankers Association.
The Mortgage Bankers Association reported a record number of
homes entered the foreclosure process in the second quarter.
However, the selling was short-lived, helped by positive
economic data from the Labor Department. The Labor Department
reported worker productivity rose 2.6% and that wage pressures
declined to an annualized rate of 1.4%.
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