A storm that could strengthen into a tropical system was poised to hit North Carolina's coastline with 40 mph wind gusts and several inches of rain, forecasters said Wednesday.
U.S. President George W. Bush, saying "our entire economy is in danger," urged Congress to approve his administration's $700 billion bailout proposal.
"Late Night" host assails the Republican Presidential candidate for suspending his campaign in light of the economic crisis after the senator cancels an appearance at the last minute. Video included.
Stocks are higher in early trading as government officials move closer to a deal aimed at saving the crippled financial system. But a credit market squeeze has intensified as doubts about the plan's ffectiveness drive demand for very short-term, safe-haven assets including three-month Treasury bills.
John McCain and Barack Obama say presidential politics should have no role in the government's efforts to save the crippled financial system. Yet, each is playing his own politics toward the same goals — showing leadership during crisis, getting credit for any solutions, and, ultimately, winning the presidency.
Wall Street headed for a narrowly mixed open Thursday as investors grew cautiously optimistic that the government and lawmakers would strike a deal to save the crippled financial system. But credit markets remained squeezed on worries that lingering obstacles to the bank bailout package could hinder its effectiveness.