ECONOMY & MARKETS

US stocks gain as European debt concerns ease

The S&P 500 Index gained 3.69 points, or 0.29 percent, to trade at 1,278.17 at 9.30 a.m. EDT. The Dow Jones Industrial Average rose 32.93 points, or 0.28 percent, to trade at 11,704.81. The Nasdaq Composite Index advanced 11.50 points, or 0.42 percent, to 2,728.49.
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Gold firms as dollar eases; Portugal auction eyed

Gold prices rose in Europe on Wednesday, as a retreat in the dollar, rising oil prices and caution ahead of a sale of Portuguese bonds later in the day all boosted interest in the precious metal.
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China yields slip, near-term tightening fears ease

China's central bank bill and government bond yields edged lower on Wednesday as easing concerns over another monetary tightening step in the coming weeks along with ample liquidity kept sentiment cautiously optimistic, traders said.

China icy weather hits metal smelters in Henan, Guizhou

Aluminium output in China, the world's top producer, may be trimmed further this month as smelters in southwest Guizhou province face power cuts to offset soaring energy demand linked to freezing weather, industry sources said on Wednesday.
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HP upgraded to 'buy' at UBS

UBS Securities upgraded PC giant Hewlett-Packard to buy from neutral, citing improving growth prospects for the majority of HP's segments through 2011.
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Supervalu’s woes deepen

Shares of Supervalu (NYSE: SVU) are plunging this morning after the retail grocer posted a loss for the third quarter and slashed its full year profit outlook.

AMD Ousts CEO

Advanced Micro Devices said Monday its chief executive Dirk Meyer has resigned with immediate effect and appointed senior vice president and chief financial officer Thomas Seifert as interim CEO.

Intel, Nvidia Settle Patent Dispute

Chip giant Intel will pay $1.5 billion to Nvidia as part of a cross licensing deal that brings an end to all of the outstanding legal disputes between the two parties.
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India may use gold to settle oil trades with Iran : ET

India is considering using gold to temporarily settle oil trades with Iran. If India were to settle crude oil trade in gold (even temporarily), it may set a precedence that will further erode the international status of the U.S. dollar and bolster the reputation of gold.
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Education stocks plunging on weak enrollment data

Education-related stocks are getting hammered this morning after a prominent company in the field, Strayer Education (Nasdaq: STRA) reported a 20 percent drop in poor enrollment for its latest winter term.
A BP sign is seen at a petrol station in south London.

Is the Worst Over For BP?

BP Plc, which is tormented by the Gulf of Mexico oil spill, has witnessed a positive development last week when Presidential Commission did not find BP solely responsible for the oil spill.

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