UNITED STATES

Stocks rose sharply on Thursday, driving the Dow and S&P 500 to fresh 18-month highs, as Qualcomm and Best Buy boosted their profit outlooks and financials surged for a second day.

Stocks jumped on Thursday as Qualcomm and Best Buy boosted their profit outlooks and financials surged for a second day.

The Treasury is committed to spending the full $50 billion in bailout funds it budgeted for mortgage modifications but will consider changes to make the program more effective, a senior Treasury official said on Thursday.

A modest U.S. economic recovery still warrants the Federal Reserve's ultra-low interest rate policy, but the central bank stands ready to remove stimulus once the expansion looks solid, Chairman Ben Bernanke said on Thursday.

A bumpy U.S. recovery and subdued inflation warrant the central bank's promise to keep benchmark interest rates low for an extended period, a senior Federal Reserve official said on Thursday.

A bumpy U.S. recovery and subdued inflation warrant the Federal Reserve's promise to keep benchmark interest rates low for an extended period, a senior Federal Reserve official said on Thursday.

Best Buy beat Wall Street's view for profit and sales in its holiday quarter and forecast stronger-than-expected earnings in the current year as demand for electronics resurged in an improving economy.

Great Barrier Island is a large island of New Zealand, situated 100 km to the north-east of central Auckland in the outer Hauraki Gulf. The island is caught in a row over whether mining should be allowed to continue or should it go for tourism promotion. With an area of 285 square kilometres (110 sq mi) it is the fourth-largest island of New Zealand's main chain of islands, with its highest point, Mount Hobson, rising 621 metres.

Stocks rose on Thursday as technology shares were lifted after wireless chipmaker Qualcomm raised its forecast and electronics retailer Best Buy reported quarterly profit and sales that beat estimates.

General Motors Co plans to lease retail space in four U.S. cities to offer shoppers the chance to test drive not only three Chevrolet vehicles but those of its largest rivals, a top marketing executive for the U.S. automaker said on Wednesday.

Former Federal Reserve Chairman Alan Greenspan said on Wednesday U.S. house prices appeared to have bottomed out but were still fragile and that the country would not be out of crisis until prices stabilized.

Best Buy Co beat Wall Street's view for profit and sales in its holiday quarter and forecast stronger-than-expected earnings in the current year, sending shares up 7.7 percent.

The number of U.S. workers filing new applications for unemployment insurance fell sharply last week, while the number of those on continued benefits was the lowest since December 2008, a government report showed on Thursday.

Stock index futures rose on Thursday as sovereign debt concerns remained in focus ahead of a meeting of European leaders to help Greece, while investors awaited data on first-time U.S. jobless claims.

Best Buy Co beat profit and sales estimates in its holiday quarter, boosted by demand for notebook computers, flat-panel televisions and mobile phones.

A senior Chinese central banker on Thursday played down the need for an imminent rise in borrowing costs to keep a balance between growth and inflation in the world's third-largest economy.

Stock index futures pointed to a slightly higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.14 percent, Dow Jones futures up 0.12 percent and Nasdaq 100 futures up 0.18 percent.

The U.S. securities regulator is probing hedge funds Appaloosa Management LP and Carlson Capital LP for certain trades, the Wall Street Journal said, citing people familiar with the matter.

The euro fell to a new 10-month low against the dollar on Thursday as Portugal's credit downgrade added to worries about debt in Greece and elsewhere in Europe, hitting riskier assets such as shares and commodities.

Sales of newly built homes fell for a fourth straight month to a record low in February, but another rise in new orders for durable goods offered assurance the economic recovery was on course.

The euro hovered near 10-month lows on Thursday as a credit downgrade on Portugal added to worries about debt levels in Greece and other parts of Europe, weighing on riskier assets such as shares and commodities.