We can expect to see more geeks on eBay, but that's a good thing, and it looks like Americans are borrowing more. Here’s the Friday Bloomberg After The Bell Report from the New York Stock Exchange.
American Stock Exchange
2485.36 down 3.52
3136.19 down 13.27
Standard and Poors 500
1460.93 down 0.47
Consumer credit in the U.S. rose more than expected in August because of a rise in borrowing for education and automobiles. Consumers took advantage of record low interest rates to buy more cars while higher gas prices helped push up the value of their credit card borrowing.
It was a mixed close for stocks erasing an early rally following a better than expected unemployment rate report. The rate dropping to 7.8 percent, the lowest since President Obama took office in 2009.
Meantime, the Geek Squad is not just at Best Buy anymore. The tech support team is expanding to eBay and conducting trials at 28 Target stores as Best Buy tries to find new ways to generate revenue, from fixing computers and tablets, service plans costing about $30 for three months and around $50 for six months.
Campus Grotto says for the first time college costs passed $60,000 a year. Sarah Lawrence College in New York topped the list of most expensive colleges of 2012-2013.