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Business News Headlines

U.S. labor market tightening; autos weigh on manufacturing

The number of Americans filing for unemployment benefits fell to near a six-month low last week, pointing to a further tightening in the labor market that could encourage the Federal Reserve to lay out a plan to start unwinding its massive bond portfolio.

Oil rises on hefty drawdown at Cushing crude hub

Oil prices rose on Thursday on expectations of a hefty stockpile draw at the U.S. oil storage hub at Cushing, Oklahoma, reversing the previous day's loses spurred by data showing U.S. crude output at its highest in two years.

Dollar steady after Cohn rumors knocked down on Twitter

The dollar rose on Thursday, boosted by weakness in the euro after the European Central Bank's July policy meeting minutes, but was volatile as rumors swirled about the possible resignation of Gary Cohn, director of the U.S. National Economic Council.