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Friday Fortune Business Report
05/09/2008 01:40 AM
By: Web Staff

Stocks advanced yesterday, rebounding from Wednesday's sharp drop as retail sales showed consumers haven't stopped spending and new jobless claims were better than expected.


Here's how things start out today:
The Dow starts out at 12,866.
The Nasdaq starts at 2,451.


After the bell yesterday, American International Group, the world's largest insurer by assets, posted a weaker than expected $7.81 billion loss as write-downs tied related to the housing slump wiped out profit for a second straight quarter. The company also announced plans to raise $12.5 billion in capital.


For the latest updates, check out the online edition of Fortune by clicking here.





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