MARKETS / FINANCE

An unprecedented 22 percent of U.S. consumers said they did not finish their Christmas shopping this year as fewer discounts kept many wallets closed, according to a survey released on Tuesday.

Stocks gained modestly on Tuesday, as better-than-expected consumer confidence data offset a separate report showing flat home prices in October.

Technology exists that might have detected explosives hidden in the underwear of a Nigerian man accused of trying to blow up a plane over Detroit, but cost and privacy worries have until now prevented its widespread use.

Oil briefly rose above $79 a barrel to a fresh five-week high on Tuesday, supported by expectations of colder U.S. weather and concerns over political developments in Iran.

With growing numbers of graduates returning to the family home after college, parents should be supportive -- but not too much, the British government warns on Tuesday.

U.S. consumer confidence improved more than expected in December, hitting a three-month high as job market pessimism eased and consumers' expectations reached a two-year high, according to a private report released on Tuesday.

U.S. employers expect to hire more new workers in 2010 than they did in 2009, a sign the U.S. recession may be easing its grip, research showed on Tuesday.

Wall Street was set for a higher open on Tuesday after data showed home prices were unchanged in October and analysts said it suggested slow stabilization in the housing sector.

Stock index futures pointed to a higher open on Tuesday as investors awaited data on housing and consumer confidence, two areas that are key in building on the still fragile economic recovery.

U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.16 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.15 percent at 4.10 a.m. ET.

Iran is planning to enhance country's steel capacity by establishing new steel units by 2011. Eight new steel units are under construction and Iran is expected to produce at least 6.4 million tonnes of more steel by the end of 2011.

Russia's Nord Stream gas pipeline project received a boost Monday as Germany issued permission for the construction in its exclusive economic zone. The permission was issued by Germany's Federal Maritime and Hydrographic Agency in Hamburg. Earlier, Germany permitted the construction of the Nord Stream gas pipeline in its territorial wasters.

In October this year, Reserve bank of India triggered a new wave among central banks across the globe, resulting in huge purchases of gold by them. With India leading the way with a 200 tonne gold purchase from the International Monetary Fund (IMF), other banks also followed suit by purchasing the yellow metal in bulk.

U.S. employers expect to hire more new workers in 2010 than they did in 2009, a sign the U.S. recession may be easing its grip, research showed on Tuesday.

U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.16 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.15 percent at 4.10 a.m. ET.

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Australian shares rose on Tuesday, helped by gains in oil and metals and by merger activity, but stock markets elsewhere in Asia lagged as year-end activity dwindled and the dollar's rally ran out of steam.

Two companies filed for initial public offerings on Monday, betting that investors would see opportunity in the battered financial sector and the nascent green technology industry.

Morgan Stanley plans to overhaul pay plans for its top executives, deferring more of their compensation over time and benchmarking pay against rival firms, the Wall Street Journal reported Monday, citing people familiar with the matter.

American International Group Inc is preparing to pay its departing general counsel several million dollars in severance after she resigned over federal pay curbs, the Wall Street Journal reported on Monday.

Gold futures on Monday traded relatively higher in the global markets. UK markets were shut due to low liquidity. COMEX Gold futures for February delivery are trading up $6.4 at $ 1110.5 per ounce, while MCX February gold futures hit a high of Rs 16910 trading up over Rs 50 at Rs 16878 per 10 grams.

Commodities as an asset class competed well with others and some of them gave reasonably good returns to investors including gold which rose 26%. The holdings of world's largest gold backed exchange traded fund, SPDR Gold Trust (GLD) reached a high of 1,134 metric tonnes in June 1 this year and presently hovers at 1,134 MT.

A rare U.S. nickel that was owned over the years by an infamous Egyptian King and a Los Angeles sports team owner, and was the centerpiece in an episode of a popular television series, is expected to sell for $3 million or more in an auction in Orlando, Florida on January 6, 2010. The little coin with the big value is a 1913-dated Liberty Head nickel, one of only five known of that specific date and design.

The U.S. Federal Reserve on Monday pressed ahead toward the creation of a new mechanism it says could be used to withdraw money from the banking system once policymakers decide to tighten monetary policy.

U.S. chicken producer Pilgrim's Pride Corp said on Monday it has emerged from bankruptcy protection, just over a year after beginning the process.

Gold prices rose slightly on Monday, but trade was quiet as many investors stayed on the sidelines with European and other major metals markets closed since late last week for Christmas.

Fannie Mae's gross mortgage portfolio shrank sharply in November while the delinquency rate on single-family loans it guarantees leaped in October, the government-controlled U.S. home funding company said on Monday.

U.S. stocks edged higher for a sixth straight day on Monday as data indicating improved consumer spending lifted shares of retailers, offsetting a drop in airline shares amid security worries.

AT&T Inc temporarily stopped selling the iPhone on its website to New York City residents over the weekend, raising fresh concerns about the wireless network's capacity in the Big Apple.