MARKETS / FINANCE

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Dow, S&P rise on data, but banks curb gains

U.S. stocks pushed mostly back into positive territory, but were off session highs late on Monday afternoon, as a sell-off in banking shares reversed the initial gains built on solid economic data.

Obama warns on job losses, urges export boost

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U.S. President Barack Obama warned on Monday that more U.S. job losses lay ahead despite a turnaround in the economy, and he called for a new post bubble growth model with greater focus on U.S. exports.
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Cisco results seen solid but bar set high

Cisco Systems Inc's quarterly results this week are expected to reflect some recovery in tech spending, but it may be hard to get investors to commit more money to a stock that is already up 40 percent this year.
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CIT bankruptcy reassigned after recusal

CIT Group Inc's bankruptcy case was reassigned on Monday to U.S. Bankruptcy Judge Allan Gropper following the recusal of Judge Robert Gerber, who had been assigned the case hours earlier.
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Wall Street rises after factory, housing data

U.S. stocks rose on Monday after U.S. factory activity grew more than forecast in October, alongside improved global manufacturing, and pending home sales increased unexpectedly.
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U.S. manufacturing, pending home sales surge

U.S. manufacturing activity rose to its highest level in 3-1/2 years last month and pending home sales contracts unexpectedly surged in September, offering hope the budding economic recovery would be sustained.
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Oil rises above $77, China data supports

Oil rose above $77 a barrel on Monday, recovering from the previous session's steep drop, after manufacturing data from China revived expectations economic recovery would generate extra fuel demand.
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Bloomberg takes big lead into NYC mayor election

Supporters say New York Mayor Michael Bloomberg, who appears set to win a third term this week, gets credit for saving the city from the worst of the financial recession but his critics say he did not do enough.
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Independent stirs up New Jersey governor contest

An independent candidate stressing New Jersey's economic woes is attracting surprising voter support in the governor's race, which features an unpopular Democratic incumbent and a Republican challenger with ties to former President George W. Bush.
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Oil rises towards $78, China data supports

Oil rose toward $78 a barrel on Monday, recovering from the previous session's steep drop, after manufacturing data from China revived expectations economic recovery would generate extra fuel demand.
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U.S. companies holding more cash: report

U.S. companies hurt by the global credit crisis are continuing to hold more cash, even as the economy begins to show signs of improvement, the Wall Street Journal said, citing its analysis of company filings.
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FTSE up 0.6 pct as miners, oils bounce

Britain's top share index rose 0.6 percent in mid-session trade on Monday supported by gains from miners and oils after bullish economic data, which offset weaker defensive stocks.

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