GM, Isuzu midsize pickup trucks recalled over child seat issues
More than 192,000 General Motors and Isuzu midsize pickup trucks are being recalled because of a problem with the system that anchors child safety seats, the National Highway Traffic Safety Administration said Wednesday. The recall affects Chevrolet Colorado and GMC Canyon models from the 2004 to 2011 model years. Also affected are Isuzu I-280 and I-350 pickups from 2006 and I-290 and I-370 models from 2007 and 2008. The Isuzus were built by GM at its factory in Shreveport, La. NHTSA said on its website that the trucks all have bench front seats and no rear seats. Owners can't get to the top child seat anchor for the center of the front seat, and the owner's manual has no instructions on how to use the top anchor, NHTSA said. No accidents or injuries have been reported, GM spokesman Alan Adler said.
Pre-Thanksgiving economic reports have positive effect on stocks
Stocks ended Wednesday on a positive note after a batch of economic reports offered hope that the U.S. economy was improving. The Dow Jones industrial average surged 150.91 points, or 1.4 percent, to 11,187.28. The Standard & Poor's 500 index gained 17.62, or 1.5 percent, to 1,198.35. The Nasdaq composite index rose 48.17, or 1.9 percent, to 2,543.12. The upturn marked an abrupt reversal from Tuesday, when an exchange of artillery fire between North and South Korea led nervous investors to sell stocks and dash into gold, Treasurys and other assets often used as hiding spots.
New home sales tumble in October; median prices lowest since 2003
New home sales tumbled last month nationally while the median home price dropped to the lowest point in seven years. Sales of new single-family homes declined 8.1 percent to a seasonally adjusted annual rate of 283,000 units in October, the Commerce Department reported Wednesday. It was the fourth time the sales rate has dropped in the past six months. New home sales are just 2.9 percent above August's pace of 275,000 units - the lowest level on records dating back to 1963. Many economists believe it could take three years for the industry to get back to a healthy annual rate of sales of around 600,000 homes. The median price of a home sold in October dipped to $194,900, the lowest level since October 2003.
From wire reports