Stocks Post Early Gains 9/26/13
NEW YORK - The stock market is higher so far today, boosted by some positive economic numbers.
The Dow and S&P 500 have fallen five consecutive days, spooked by the prospect of a government shutdown. Treasury Secretary Jacob Lew told Congress this week that the Treasury's ability to borrow funds will be exhausted on Oct. 17.
The number of Americans seeking unemployment benefits fell 5,000 last week to a seasonally adjusted 305,000, the second-lowest level in six years. Steady declines in applications show that very few companies are laying off workers.
The U.S. economy grew at a 2.5 percent annual rate from April through June, an improvement from the first three months of the year. But economists are worried that growth may now be slowing.