Stocks up after GMAC lifeline, retail sales dip
NEW YORK – Wall Street put together a modest advance in light post-holiday trading Friday after the finance arm of General Motors got a government lifeline, but dreary holiday spending readings dimmed the chance of a big year-end rally.

Stores cut prices to entice post-holiday shoppers
Two hours before the doors were set to open Friday morning, a Miami-area Wal-Mart parking lot was full of cars — and possibility. But in a Christmas shopping season in which many Americans were unwilling to spend, even a packed lot doesn’t always translate into holiday cheer for stores.

Consumer sentiment improves
The Reuters/University of Michigan survey for December confirms an uptick from 28-year low hit in the prior month, as consumers warm to expectations for falling prices and inflation.

Lines at the unemployment office lengthen
Both initial and continuing claims reach levels last seen in December 1982, underscoring worries about the depth of a recession — and what December’s employment report will indicate.

Data suggest thaw in mortgages taking hold
Week-to-week mortgage applications jump 48%, as homeowners and first-time buyers rush to lock in lower interest rates.

A Banking Regulator Speaks Out
John Dugan, the Comptroller of the Currency, suspects that lenders aren’t doing enough to reduce the mortgage burden on homeowners

Push for 2009 tax holidays
Industry group floats the idea of three 10-day intervals, during March, July and October next year, when sales taxes wouldn’t be collected. Washington would reimburse states for lost tax revenues

Rules to Make Battered Retirement Savings Go Further
Tax tricks and drawing-down guidance to bolster a battered retirement portfolio