Standard & Poor’s
Stocks surged Tuesday morning on Wall Street, erasing some of the heavy losses of a day earlier, after China cut interest rates to try to boost the world’s second-largest economy.
Standard & Poor’s announced its action Wednesday, saying the state still has a structural deficit even as the economy is improving.
Fire officials were investigating Saturday morning after a blaze broke out at a storm-damaged skyscraper in Lower Manhattan.
A fire broke out Friday morning at an office skyscraper in Lower Manhattan that was badly damaged by Superstorm Sandy.
Standard & Poor’s said it has reduced its outlook on bonds to finance the state Thruway Authority to negative from stable. The ratings agency also said “aggressive” toll increases may be needed.
Fitch Ratings has downgraded New Jersey’s general obligation bonds to AA- from AA.
Administration officials privately called S&P’s analysis flawed. But Obama himself refrained from comment as he spent the weekend at Camp David.
A warning from Standard & Poor’s that the agency might lower its rating on U.S. government debt sent stocks on their worst slide in a month Monday.
Stock indexes lost 2 percent and gave up nearly all of their gains for the year Wednesday. All 10 company groups that make up the Standard & Poor’s 500 index fell.