Stocks move higher: Some encouraging news on the European debt morass, but some downbeat news about the U.S. economy. Dow is up 70 points.
Jump in jobless claims: Weekly filings rose by 11,000, to 428,000, which is the highest level in three months. Companies are not laying people off, they're just not hiring. (AP)
August foreclosures way up: California filings jumped 55 percent from the previous month, according to RealtyTrac, as B of A and perhaps other banks speed up their default process. (press release)
Mortgage rates are crazy low: This really is a great time to buy a house - if you can get a bank to loan you the money. The average rate on the 30-year fixed mortgage fell to 4.09 percent, the lowest level since 1951. (AP)
Inflation picking up: L.A.-area prices rose 0.2 percent in August compared with the previous month and 2.4 percent over the past year (lower than the national level). But food costs have been rising way more than that. (OC Register)
McCourt divorce drags out to next year: Which means the ownership question is left in limbo. Trial isn't scheduled until next spring or summer and will last 30 to 45 days. Separately, the Dodger bankruptcy case is proceeding. From the LAT:
Although Superior Court Judge Scott Gordon could decide ownership of the team before the bankruptcy proceedings end, he emphasized Wednesday that "the ultimate question of the disposition of the Dodgers" would need to wait for a resolution in Bankruptcy Court. "Until it gets out of bankruptcy, the baseball team cannot be sold by this court," Gordon said.
Investors snap up California notes: And at the low end of expected yields, which means the state doesn't have to shell out as much in interest. (LAT)