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President Obama urges Congress to tackle changes to entitlement programs and where are the real estate markets where homes are snapped up in a flash. Here's the Friday After The Bell Report from the New York Stock Exchange.
The president pressed Democratic leaders to consider changes to Medicare and Social Security. Lawmakers tell Bloomberg the president told House Democrats this week that any reforms should be pursued when a Democrat is in office rather than risk an overhaul under a Republican. The president's message to his party is part of his ongoing effort to come to a deficit-reduction agreement with GOP leaders.
Manufacturing boosted production last month with factory output climbing almost three-quarters of a percent. Business investment is spurring the increase, which may help the U.S. economy cope with massive spending cuts, a payroll tax increase and high gas prices.
A separate report shows consumer confidence unexpectedly falling and that weighed on stocks Friday.
And where do homes sell the fastest? According to the real estate site redfin.com, Phoenix, Chicago and Houston have the most "flash sales," that is homes that go under contract in 24 hours or less.