Stocks snapped a three-day losing streak Monday after an encouraging report on existing-home sales and a pullback in the dollar.

Stocks rallied Monday after an encouraging report on existing-home sales and a pullback in the dollar.

Stocks opened higher Monday as the dollar pullled back and gold hit a new record above $1,170 an ounce. The Dow was up more than 100 points at the open and continued higher after a report showed a sharp jump in existing-home sales.

A holiday-shortened trading week begun with all signs pointing to a higher open for Wall Street on Monday, with the dollar weakening and gold hitting a new record high above $1,167 an ounce.

For the first time in a decade, more people paid their credit card bills on time in the third quarter this year than in the second quarter.

American Express will acquire AOL co-founder Steve Case's Revolution Money Internet-based payment platform for $300 million, the credit card company and network said Wednesday.

U.S. credit card defaults fell more than expected in October, but delinquencies rose in a sign that consumers remain under stress and the sector can expect more pain ahead, credit card companies reported on Monday.

Moody's Investors Service on Wednesday raised its rating on Nasdaq OMX to investment grade from junk status, citing success in diversifying revenues, integrating mergers and boosting profits.

Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.

Banks are struggling to make money in the credit card business these days, and consumers are paying the price. Interest rates are going up, credit lines are being cut and a variety of new fees are being imposed on even the best cardholders. The New York Times reports.

Banks expect to tighten terms on credit cards in response to a new law that aims to protect consumers from sudden rate hikes, the Federal Reserve said Monday.

Consumers borrowed less for a record eighth straight month in September amid rising unemployment and tight credit conditions.

Community bankers are responding coolly to the Obama administration's plan to free up small business lending, saying the programs unveiled last week involve unattractive government capital injections and mountains of paperwork.

American Express reported a profit that fell from a year ago but topped Wall Street's expectations as the credit card company trimmed costs, a decline in consumer spending stabilized and bad loans eased.

With a key Congressional committee  beginning markup of legislation creating a consumer financial products watchdog, the Federal Reserve's unusual role as a source of funds will likely draw attention.