ECONOMY & MARKETS

The ongoing European debt crisis is threatening the global economy and must be dealt with swiftly and decisively, Canada's finance minister Jim Flaherty said at a conference on Wednesday.

Toronto's main stock index was set to open higher on Wednesday, extending gains from the previous session after China unexpectedly cut its bank reserve requirement ratio by 50 basis points, and ahead of Canadian growth data.

The top pre-market NASDAQ Stock Market gainers are: Cytori Therapeutics, Primo Water, Focus Media Holding, Logitech International, Golar LNG, Netlist, Century Aluminum, and A123 Systems. The top pre-market NASDAQ Stock Market losers are: OmniVision Technologies, and Breitburn Energy Partners.

European shares extended a rally into a fourth session on Wednesday, with miners reversing earlier losses after resource-hungry China cut the reserve requirement for banks to ease credit strains and bolster its economy.

The Nikkei share average ended lower on Wednesday, reversing two days of gains on profit-taking as investors remained cautious over new developments in the Eurozone debt crisis and looked to data later in the week.

A November note from the Conference Board placed consumer confidence in the U.S. at a four-month high of 56.0, from a low of 40.9 in July. Most startlingly, however, the Consumer Confidence Index (CCI) soared to its largest month-over-month percentage gain since April, 2009 and its largest single points gain since April, 2003.

Following are the stocks trading on Nasdaq that touched 52-week low on Nov. 29. The new 52-Week high indicates a stock is trading at its lowest price in the past 52 weeks. This is an important indicator for many investors in determining the current value of a stock or predicting a trend in a stock's performance.

Following are the stocks trading on Nasdaq that touched 52-week highs on Nov. 29. The new 52-week high indicates a stock is trading at its highest price in the past 52 weeks. This is an important indicator for many investors in determining the current value of a stock or predicting a trend in a stock's performance. One popular strategy employed by stock traders is to purchase companies hitting new highs.

Stock index futures pointed to a weaker open for equities on Wall Street on Wednesday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 0.4-0.7 percent.

Stocks fell and the euro weakened Wednesday after Standard & Poor's hit some of the world's leading banks with a credit downgrade and euro zone leaders' move to ramp up the regional bailout fund drew a tepid response.

The top after-market NASDAQ stock market gainers are: L & L Energy, First Interstate Bancsystem, Momenta Pharmaceuticals, Seattle Genetics, and Amylin Pharmaceuticals. The top after-market NASDAQ stock market losers are: OmniVision Technologies, Savient Pharmaceuticals, Texas Capital BancShares, Spectrum Pharmaceuticals, and Aruba Networks.

Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.

Asian shares fell and the euro trimmed gains Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.

Bank of America (NYSE:BAC) and Citigroup (NYSE:C) are among a group of 37 large financial institutions that were downgraded today by Standard & Poor's, according to Bloomberg News. The downgrades were somewhat expected, as S&P had announced earlier in the year it would be revising its methodology for rating banks in order to give more weight to those institutions' capital ratios.

Goldman Sachs picks its top nine technology stocks for 2012.

At mid-day Tuesday, the Dow Jones Industrial Average rose 65.47 points to 11,588.48, up 0.57 percent from the previous session's close. The benchmark S&P 500 Index was at 1,198.66 points, up 6.11, or 0.51 percent. The NASDAQ index was down 0.28 percent, or 7.10 points, to 2,520.24.

Canada's holiday shopping season has started with a bang, an industry group said on Monday, as more retailers than ever offered Black Friday promotions to keep up with competitors south of the border.

AMR Corp. (NYSE:AMR), the parent company of American Airlines, has filed for bankruptcy protection under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York to shed its debt load and reduce costs after failed negotiations with pilot unions and higher fuel costs forced the company to take the last resort.

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) has received the anticipated FDA approval for expansion of the manufacturing facility in Novato, California. Wedbush Securities believes that with this approval, the company's long-term growth will be strengthened.

European shares rose on Tuesday as short-term traders helped boost the market following good demand at an Italian bond auction despite soaring borrowing costs, while BASF rose after lifting its sales target.

The Nikkei average climbed more than 2 percent on Tuesday, closing at a two-week high on hopes that euro zone leaders were readying steps to ease the debt crisis and that a robust U.S. holiday shopping season was underway.

The top pre-market NASDAQ Stock Market gainers are: Magal Security Systems, Seagate Technology, Central European Distribution, Onyx Pharmaceuticals, Randgold Resources, and Research In Motion. The top pre-market NASDAQ Stock Market losers are: Tellabs, ASML Holding, Netflix, and Microsoft.

FBR Capital Markets hosted several meetings with Chief Executive Craig Nash and investors of Interval Leisure Group Inc. (NASDAQ: IILG) last week.

In a recently released report, Citigroup has negatively revised its earlier growth estimates for India, for the Fiscal Year 2011-12, amid a slowing global economy and domestic headwinds.

Stock index futures pointed to a mixed open on Wall Street on Tuesday, with futures for the S&P 500 up 0.15 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures down 0.27 percent at 4:19 a.m. ET.

The top after-market NASDAQ stock market gainers are: Seagate Technology, Angie's List, Central European Distribution, Shanda Games and Federal-Mogul. The top after-market NASDAQ stock market losers are: Susser Holdings, Alaska Communications Systems Group, Smart Balance, Anadigics and Aruba Networks.

The state refiners could cut petrol prices by an approximate price of Re. 1 per litre (or 1.5 percent), as softening Singapore spot gasoline prices have offset the impact of a declining rupee, an industry source said on Monday.

United States federal agencies conducted raids on Cyber Monday, shutting down Web sites they said were selling counterfeit goods and copyrighted works.

Gold rebounded to a one-week high following the substitution of last week's selling pressures with expectations of a stronger effort by euro-zone leaders to stem the spread of the sovereign-debt crisis. Spot gold held steady above $1,700 per ounce on Tuesday.