News Highlights: Top Equities Stories Of The Day

TOP STORIES US JOBLESS RATE JUMPS TO 10.2%; 26-YEAR HIGH U.S. unemployment rises more than expected in October to 10.2%, its highest level in more than 26 years, as nonfarm payrolls drop 190,000, with the largest job losses in construction, manufacturing, and retail trade. Economists had expected a 9.9% unemployment rate and 175,000 payrolls drop. AIG SWINGS TO PROFIT, TOPS VIEWS Government-controlled insurer posts 3Q profit of $455 million, or 68c a share, as operating income at its general-insurance business jumps more than six times. Excluding items, earnings of $2.85 a share come in above estimates, but shares fall 9%. US WHOLESALE INVENTORIES FALL AGAIN IN SEPTEMBER Monthly U.S. wholesale inventories are down again, shrinking 0.9% in September to $377.7 billion, less than the 1.0% dip expected by economists, as firms kept clearing their shelves of excess supplies accumulated in the economic slump. US STOCKS LITTLE CHANGED AFTER JOBS DATA U.S. stocks swing between slight gains and losses on a bounce for industrial and consumer stocks, offsetting heightened economic concerns as the U.S. unemployment rate pushed to its highest level in 26 years. ALLEGED FORD HOOD SHOOTER REMAINS IN STABLE CONDITION The alleged shooter in the military-base massacre that left 13 people dead and dozens wounded is in stable condition as investigators interview witnesses and tried to piece together details of one of the worst incidents of soldier-on-soldier violence in U.S. history. GM CFO TO CHANGE JOBS; SUCCESSOR SEARCH NARROWS Auto maker plans to move finance chief Ray Young to international operations, stationed in Shanghai. Company now faces the challenge of finding a new CFO, a job often commanding more than GM is allowed to pay. FORD US RETAIL SHARE HIGHEST IN 3 YEARS Auto maker's U.S. retail market share jumps to 14% in October, as new products continued to lure buyers into showrooms. The company cut its vehicle incentives during October anywhere from 25% to 40% from a year earlier. REPORT 8 WOUNDED IN ORLANDO OFFICE SHOOTING A shooting has been reported at an office building in downtown Orlando, the Orlando Sentinel reports. Eight are reported wounded at 1000 Legions Place at the Gateway Center. OBAMA SIGNS JOBLESS BENEFITS EXTENSION President signs into law legislation extending federal jobless benefits by up to 20 weeks on the same day the bleak employment picture was confirmed. He also signs a measure to extend the $8,000 tax credit for first-time home buyers through April. GE RISES ON UPGRADES, TALK OF NBCU PROGRESS Shares of General Electric get a boost thanks to a couple of analyst upgrades and news of progress in the NBC Universal deal. Shares trade 7% higher. HOYER SAYS CLOSE TO NEEDED VOTES FOR HEALTH BILL U.S. House Majority Leader Steny Hoyer says Democratic leaders are "very close" to securing the 218 votes needed to secure passage of health-care legislation this weekend. ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= FED WATCH Jobs Report Shows No Pressure On Fed To Hike Rates For all the inflation worriers chafing at the bit for a rate hike, the October jobs report shows why the Federal Reserve will be on the sidelines for a long time, Michael Derby writes. BROKER'S WORLD Merrill, Morgan Stanley Boast Top Recruiting Merrill Lynch and Morgan Stanley Smith Barney are nearly neck and neck in October in the race for recruiting brokers. Wells Fargo had a slower but steady pace, while UBS Wealth Management U.S. made no effort to keep up. ============ U.S. MARKETS ACTION =========== DJIA up 8.98 points to 10006.94 NASDAQ down 0.09 points to 2105.23 S&P 500 up 0.05 points to 1066.68 10-year T-note 100 28/xx at 3.516 yield up .040 NYMEX Spot Crude down $2.58 at $77.04/bbl Dollar/Euro down 0.0033 at 1.4838