The U.S. economy shrank slightly less in the first quarter than initially estimated, while corporate profits rebounded, according to government data on Friday that pointed to moderation in the recession.
The U.S. economy shrank slightly less in the first quarter than initially estimated, while corporate profits rebounded, according to government data on Friday that pointed to moderation in the recession.
Stocks rose on Friday, capping their third straight monthly advance, as rising commodity prices lifted shares of natural resource companies, while a sliding dollar boosted the allure of multinationals, including Coca-Cola Co .
Oil rose to a six-month high above $66 per barrel on Friday, marking its largest monthly percentage gain in more than a decade, after U.S., Japanese and Indian data suggested the economic downturn may be easing.
Stocks rose on Friday as resurgent oil prices lifted energy shares, while a sliding dollar boosted the allure of multinationals like Coca-Cola Co and further signs of economic stabilization underpinned sentiment.
MetLife Inc Chief Executive Robert Henrikson on Friday said the economic crisis has made it imperative that the life insurance industry be given a voice in Washington.
U.S. stocks were mostly flat on Friday as rising oil prices lifted energy stocks and investors digested a mixed bag of data, including regional business activity and consumer sentiment.
Stocks were mostly flat on Friday as rising oil prices lifted energy stocks and investors digested a mixed bag of data, including regional business activity and consumer sentiment.
Tiffany & Co posted a 62 percent drop in quarterly earnings on Friday, worse than Wall Street had expected, as jewelry sales languished in the recession.
The Federal Housing Administration will allow the new $8,000 first-time homebuyer tax credit to be applied directly toward home purchase costs when using an FHA-insured mortgage, the Department of Housing and Urban Development said on Friday.
Optimism over the U.S. government's stimulus programs to combat the recession lifted consumer confidence in May to its highest level in eight months, a survey released on Friday showed.
U.S. consumer confidence improved in May to its highest level since last September, prompted by hopes the government's economic stimulus program will bring the economy out of recession.
Stocks were poised for a higher open on Friday after government data hinted the recession may be abating, putting the S&P 500 on pace for its third straight monthly gain, its longest streak since late 2007.
The U.S. economy contracted slightly less than initially estimated in the first quarter, while corporate profits rebounded, according to a government report on Friday that hinted the recession was moderating.
The U.S. economy contracted slightly less than initially estimated in the first quarter, while corporate profits rebounded, according to a Commerce Department report on Friday that hinted that the recession was moderating.
Stock index futures pointed to a higher open on Wall Street on Friday ahead of another round of key economic data, putting the S&P 500 on pace for its third straight monthly gain, its longest streak since late 2007.
Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes rose 0.3-0.5 percent on Friday, pointing to a higher start on Wall Street.
Oil rose to a six-month high above $66 per barrel on Friday, on track for its largest monthly percentage gain in more than a decade, after Japanese and U.S. data suggested the economic downturn may be moderating.
World stocks closed in on a new high for the year and the dollar sank toward a five-month low against major currencies on Friday on hopes that the global economy has seen the worst days of its downturn.
Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes rose 0.3-0.5 percent on Friday, pointing to a higher start on Wall Street.
Japanese factories raised output by the most in nearly 60 years last month and India grew faster than expected in the March quarter, Friday data showed, further evidence the global economy may have turned a corner.
Oil rose above $65 a barrel on Friday, on track for its largest monthly percentage gain in more than a decade, after Japanese and U.S. data suggested the economic downturn may be moderating.
A group of banks and money managers plan to release a letter to the Federal Reserve Bank of New York and other U.S. and overseas regulators to help fend off some rules proposed by the Obama administration that seek to control trading in the derivatives market, the Wall Street Journal reported.
Oil rose to a new six-month high above $65 a barrel on Friday, on track for its largest monthly percentage gain in more than a decade, after government data showed a surprisingly sharp drop in U.S. crude inventories and OPEC left output steady.
Oil fell below $65 a barrel on Friday but was on track for its largest monthly percentage gain in more than a decade after government data showed a surprisingly sharp drop in U.S. crude inventories and OPEC left output steady.
New York state Insurance Superintendent Eric Dinallo will resign effective July 3, Governor David Paterson said on Thursday, amid speculation the former prosecutor may run for state attorney general.
Merrill Lynch’s energy trading operations in Houston are having a switch in some key trading positions, Bloomberg reported on Thursday.
Oil surged past $65 a barrel on Thursday to a fresh six-month high after OPEC decided to keep output unchanged and government data showed a steep drop in U.S. crude inventories.
The U.S. recession is fading but the economy will not recover in a meaningful way before the end of this year and deflation remains a risk in this climate, a top Federal Reserve official said on Thursday.
Top bond-fund manager Bill Gross warned of a slow U.S. recovery in coming years and said investors would do best aiming for modest returns.
