More states add jobs, but many for tempora

More states add jobs, but many for temporary staff

WASHINGTON – In a sharp improvement, more than half of U.S. states added jobs in October, although economists said many of the gains likely occurred in temporary employment.

That’s customarily a positive a sign. Employers usually hire temporary workers before they add full-time jobs. But in this case, the temporary hiring may be inflated by the auto sector, which has boosted production to replace depleted inventories. As a result, the increase might not be sustainable.

D.R. Horton sees spike

in fourth quarter orders

Homebuilder D.R. Horton Inc., saw new home orders spike 26 percent from a year ago in the latest quarter as buyers raced to close deals and take advantage of a federal tax credit. But a wider-than-anticipated loss fueled by write-downs sent shares tumbling more than 15 percent Friday.

The surge in orders came as many first-time homebuyers sought to qualify for an $8,000 tax credit that was set to expire at the end of this month before Congress extended it.

Stocks fall for 3rd day

as dollar strengthens

NEW YORK – The stock market ended a down week with light selling as investors grew uneasy about a rising dollar and spiking demand for the safest government debt.

After two strong weeks, investors tried unsuccessfully to extend the market’s rally after major stock indexes closed at 13-month highs Tuesday. Disappointing reports on housing and worries about flagging demand at technology companies sapped strength from the market’s eight-month rally.

J.M. Smucker 2Q profit soars on coffee

PORTLAND, Ore. – J.M. Smucker Co. nearly tripled its profit in the second quarter as the addition of Folgers coffee gave a jolt to its lineup and lower commodity prices fattened its profit margins.

The company also raised its outlook for the year, sending its shares soaring Friday.

Natural gas plunges

12 percent this month

NEW YORK – Natural gas prices have dropped by more than 12 percent in the past month as the country continues to sip at its energy reserves and a balmy November allowed homeowners to leave the heat off.

Retail prices for natural gas, or what many consumers will pay to heat their homes, are expected to be substantially lower this year.