U.S. stock futures fell Thursday as China's central bank lifted interest rates and on caution ahead of testimony from the chairman of the Federal Reserve.
U.S. stock futures extended gains on Tuesday as quarterly results from companies including chemical manufacturer DuPont Co. fueled optimism about corporate profit growth despite near-record oil prices.
Foreign stocks have become so popular in the United States that whole exchanges are now shopping abroad. Both the New York Stock Exchange and the Nasdaq have been competing to buy the centuries-old London Stock Exchange.
While financial markets may not react dramatically to the Group of Seven's charge to China to let its yuan currency rise, the events of the weekend will likely further erode faith in the U.S. dollar.
China's yuan currency can probably begin to rise more swiftly given the reforms Beijing has put in place, but gradualism is still the guiding philosophy, the head of China's central bank said on Saturday.
The dollar slid about 1 percent to three month lows against the yen in early trade on Monday after Group of Seven countries singled out China in their call for more flexibility in exchange rates. The dollar slid about 1 percent to three month lows against the yen in early trade on Monday after Group of Seven countries singled out China in their call for more flexibility in exchange rates.
Finance ministers endorsed proposals Sunday intended to make it easier for international lending institutions to deal with soaring oil prices, trade gaps and other problems that threaten to derail growth.
Chinese banks will increasingly opt to list shares at home as China's financial markets mature, a senior banking regulator said on Saturday.
Chinese President Hu Jintao pledged to President George W. Bush on Thursday that China will make more trade concessions and does not seek an excessive trade surplus with the United States.
Oil surged to a record high above $72 on Tuesday on concern that Iran's nuclear stand-off with the West could cut oil exports from the world's fourth-largest crude exporter.
China's banking regulators on Tuesday issued rules for commercial banks to invest client funds offshore, an important step toward opening up the country's tightly controlled foreign exchange regime.
China Construction Bank, one of the country's largest state banks, denied on Monday a newspaper report it is in early talks with Bear Stearns that could lead to its taking a minority stake in the Wall Street securities firm.
China Construction Bank Corp., one of the country's largest state banks, denied a newspaper report on Monday that it is in early talks with Bear Stearns Cos. that could lead to it taking a minority stake in the Wall Street investment bank.
China must do more to stimulate consumption and tweak investment policies if it wants domestic purchases of foreign currencies to trim its swollen foreign exchange reserves, an official paper said on Saturday.
