Snapshot of news and events for today
||Major world indicators
- The 225-issue Nikkei Stock Average slid 146.11 points, or 1.7 percent, to 8,663.19.
- The dollar bought 97.7 yen from 97.16.
Tuesday's U.S. Markets...
- The Dow Jones Industrial Average shed 176.58, or 1.99 percent, to 8,693.96. The Nasdaq Composite Index dropped 35.84, or 2.22 percent, to 1,580.90.
- The bond market was closed in observance of Veteran's Day.
- The dollar traded at 97.79 yen, down from 97.86 yen, while the euro was at $1.2530, down from $1.2739 late Monday.
||Yesterday's action and
What happened yesterday...
- Corn: Futures closed 9 1/4 to 11 cents lower.
- Soybeans: Futures finished well off session lows, but still closed mostly 32 to 33 cents lower for the day.
- Wheat: Futures rallied late to finish higher at all three exchanges.
- Cotton: Futures remained weaker through the day due to outside market influences.
- Lean Hogs: Lean hog futures posted slight losses, but closed in the upper end of the trading range.
- Live Cattle: Live cattle futures closed $1.05 to $1.70 lower, with feeders down 80 cents to $1.67.
||Other reports affecting agriculture
||Links to top news reports
with potential U.S. ag impact
Wall Street Journal (subscription to site required for access)
- Democrats Plot Detroit Rescue Democratic congressional leaders are planning legislation next week to push President Bush to provide aid to the U.S. auto industry and some signal that if Republicans balk at this push, they delay action on another stimulus plan until the new more Democratically controlled Congress is seated in 2009.
Treasury Considers Private Role in TARP
- Obama to Fill Transition Team Using New Ethics Code. Transition team members are to be announced this week, according to John Podesta, co-chairman of Mr. Obama's transition team. Podesta said the Obama cabinet would be based primarily on experience but with an eye toward surrounding the president with people who are regionally, racially and politically diverse.
- Weak China Data Show Why Beijing Acted Fast Trade data released by China underscores why the country acted to implement a massive stimulus package
- Mischief in Minnesota? Editorial. The paper raises questions about the already narrowed vote count in the Minnesota Senate race which has tightened considerably even though a recount hasn't yet started. And they point out vote shifts toward Democrat Al Franken aren't matching overall Democratic voter trends in the state.
New York Times (registration to site required)
- Running On Empty: GM's Fate Is Debated Bankruptcy Filing Is Not an Option, Company Says Despite some firms surviving bankruptcy and emerging stronger than they were prior to filing, GM insists that bankruptcy is not an option even as most agree the big automaker is teetering.
House to Consider Auto Aid
- Obama Team Moves to Keep Its Distance From Lobbyists The new rules include that the transition team will not allow lobbyists to work in the subject areas in which they have previously lobbied. And if someone becomes a lobbyist after working on the transition, that person will be prohibited from lobbying the administration for 12 months on matters on which he or she worked.
|Laughing with, not at
||From political humorists
David Letterman: "And Obama believes that the election results gave him a mandate -- a mandate, that is what got that Senator Larry Craig in trouble, wasn't it?”
David Letterman: Sarah Palin has "not taken the defeat well. And it must be true because today before shooting a moose she pistol whipped it.”
Conan O'Brien: "In Japan, officials in a small town called Obama -- there's a town in Japan called Obama -- say they're going to invite Barack Obama to visit. Yeah. And actually, a similar trip happened after Bill Clinton was elected, and he was invited to Horndog, Thailand.”
Conan O'Brien: "President-elect Barack Obama spent the day thanking the people who helped him win the election. That's right. Yeah, and actually, Obama's first phone call was to Sarah Palin.”
Conan O'Brien: "When they were prepping Sarah Palin for the debates, they found out that she thought Africa was a country, not a continent. Yeah. Now, to be fair to Sarah Palin, it is hard to see Africa from Alaska.”
Craig Ferguson: Barack Obama "was briefed this morning on the state of the economy, and this afternoon, he called McCain to offer him the presidency.”
Craig Ferguson: Sarah Palin "went back to Alaska. As she got off the plane yesterday, her supporters chanted ‘2012, 2012.' When McCain got off the plane, they chanted, ‘Use the handrail, use the handrail. Careful, grandpa.'”