Thursday morning headlines

Stocks keep falling: Sour mood on the global exchanges, and the U.S. markets are feeling it. Dow is down more than 350 points.

Slight improvement in jobless benefits: Weekly filings fell 9,000 to 423,000, but that's not nearly good enough to signal any change in the job market. (AP)

Some economic improvement?: The index of leading indicators increased more than expected in August, suggesting a somewhat faster pace of growth heading into next year. "Households are still spending, albeit sluggishly," said analyst Steven Wood. (Bloomberg)

FedEx cuts forecast: The package delivery giant cites lower demand for technology and electronics products from Asia. But the company does not see a recession in the offing. From AP:

"Our customers' hair is not on fire. They're just saying we're taking it steady as she goes. It just feels completely different than it did back in `08," Chief Financial Officer Alan Graf said in a conference call with analysts.

L.A. commutes not so bad?: Census data places the Los Angeles metro area in 17th place nationally, with commuters taking an average of 28.1 minutes to get to work. Topping the list was the NY metropolitan area, at 34.6 minutes (national average was 25.3). From the LAT:

[Brian Taylor, director of the Institute of Transportation Studies at UCLA,] said it generally takes approximately twice as long for commuters to get to work using public transit as it does driving alone, which helps explain L.A.'s ranking. Waiting and transfer times combined with lower average speeds because of frequent stops are among the reasons. But Denny Zane, of the transit advocacy group Move LA, said that doesn't mean the region has been wrong to aggressively build new rail systems in hopes of convincing motorists to leave their cars at home. He said new rail lines and improved public transportation will help address the region's congestion problems but cannot single-handedly solve them.

Kaiser walkout continues: Kaiser nurses in L.A. are expected to remain on strike through Friday, while 17,000 nurses statewide plan to stage a 24-hour sympathy strike on Thursday. From Reuters:

Union spokesman Leighton Woodhouse said the main stumbling blocks to a settlement have been Kaiser's proposals to cut union members' pension and healthcare benefits at a time when Kaiser is posting record earnings, which are to be plowed back into its system. The union also is pressing Kaiser to increase staffing levels.

Brown vetoes pot bill: Legislation would have barred medical marijuana dispensaries from within 600 feet of homes, but the governor said that cities and counties already have that authority. (LAT)

Schwarzenegger to write memoir: It's tentatively titled "Total Recall," and Simon & Schuster is scheduled to publish it in October 2012. No word on the advance. (NYT)