United Airlines parent UAL Corp. stock soared Tuesday after it reported a second-quarter net loss of $2.7 billion Tuesday due to the soaring price of fuel and announced thousands of new job cuts.
The Congressional Budget Office on Tuesday estimated that a government plan to stabilize mortgage giants Fannie Mae and Freddie Mac could cost government coffers an average of $25 billion.
Treasury Secretary Henry Paulson urged Congress Tuesday to approve the Bush administration's plan to back up mortgage financiers Fannie Mae and Freddie Mac.
Oil prices fell Tuesday, closing at the lowest point since June 5, as a perceived decline in U.S. demand took hold again and worries subsided that a storm would disrupt production in the Gulf of Mexico.