Stocks climbed on Thursday as rising oil prices drove up energy shares and data on orders for durable goods signaled the economy was stabilizing.
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.
Shares of Moody's Corp fell sharply on Thursday after hedge fund manager David Einhorn, who correctly questioned the health of Lehman Brothers four months before its collapse, disclosed he was shorting the venerable ratings agency.
Bank of America Corp said on Thursday it may swap 200 million common shares for existing preferred stock, moving it more than $2 billion closer to plugging a $33.9 billion capital shortfall.
Stocks rose on Thursday as energy and commodity shares climbed on higher oil prices and after results of a Treasury bond auction eased any fresh worries over demand for government debt.
Bill Ackman, the biggest shareholder in bankrupt mall operator General Growth Properties Inc , said he could gain 13 times his investment in a company he called high quality after it is reorganized.
Stocks rose on Thursday as a surge in crude oil prices lifted energy shares, sending the benchmark S&P 500 to a session high.
The U.S. housing bust and auto sector upheaval have left hundreds of thousands of workers looking for jobs in the same sectors, in the same places, and at the same time.
One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday.
One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday.
U.S. stocks rose on Thursday, as a rise in oil prices boosted energy shares, overshadowing mixed economic data on housing sales and manufacturing orders.
Countless workers in the United States are trapped in jobs they would like to leave because they cannot get health insurance elsewhere, calcifying innovation and mobility in the world's largest economy.
The number of U.S. workers filing new claims for jobless benefits dropped by 13,000 last week, the Labor Department reported on Thursday, but so-called continued claims hit a new record as the recession took a further toll on job prospects.
New orders for long-lasting U.S. manufactured goods saw their biggest gain in 16 months in April and fewer workers filed for new jobless benefits last week, according to data on Thursday that suggested the deep recession was abating.
The pace of economic decline in western Europe is slowing, data showed on Thursday, though activity is still very subdued and prospects for a global recovery are being hurt by the rising cost of borrowing money.
Sales of newly built U.S. single-family homes rose slightly less than expected in April, a government report showed on Thursday, and the previous month's figures were revised down to show a steeper fall.
Stock index futures pointed to a higher open on Wall Street on Thursday after key government data indicated the recession may be abating while investors eyed a looming bankruptcy for General Motors.
Oil held above $63 on Thursday after OPEC ministers meeting in Vienna decided, as widely anticipated, to leave the group's crude output unchanged at 24.85 million barrels per day.
Stock index futures pointed to a higher open on Wall Street on Thursday ahead of key U.S. durable good orders and new home sales data, while the market eyed General Motors as it slid closer to bankruptcy.
Stock index futures pared gains on Thursday, after the release of an outlook by Dow component Procter & Gamble , and ahead of key U.S. durable good orders and new home sales data.
Prominent hedge fund firm Pequot Capital told investors on Wednesday it will shut down because of a reopened government probe into possible insider trading.
Oil slipped on Thursday as global markets dropped on government debt worries but held firmly above $63 a barrel as OPEC met in Vienna to discuss the group's oil output and what price the world could afford to pay.
Citigroup Inc is in early negotiations with the U.S. Securities and Exchange Commission to settle a probe into whether it misled investors by not properly disclosing the amount of troubled mortgage assets it held as the markets started to fall in 2007, the Wall Street Journal said, citing people familiar with the matter.
Concerns about the debt burden facing countries trying to spend their way out of the economic downturn spooked investors on Thursday despite optimism from President Barack Obama that the U.S. economy was past the worst.
Oil prices fell below $63 a barrel on Thursday, snapping three sessions of gains, as investor sentiment soured on worries that a potential recovery in the United States might be delayed because of the country's rising debt.
Asian shares retreated from seven-months highs on Thursday as concerns grew that rising yields on U.S. government debt could push up borrowing costs and choke off a potential recovery in the world's largest economy.
The Obama administration is weighing a plan that would put the Federal Reserve in charge of monitoring systemic risk and give the Federal Deposit Insurance Corp authority to unwind insolvent bank holding companies, sources familiar with the proposal said on Wednesday.
A U.S. government plan to rid banks of bad loans is stalling and may soon be put on hold, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Japan's Nikkei stock average edged down 0.1 percent in choppy trade on Thursday, with losses in exporters such as Sony Corp on fears about the U.S. economy narrowly outweighing support from shippers and auto shares.
Japan's Nikkei stock average nudged down 0.2 percent on Thursday, with losses in exporters such as Sony Corp on concern about the U.S. economy narrowly outweighing support from shippers and defensive shares. Nippon Steel climbed 2.3 percent after the Nikkei business daily said the steelmaker planned to raise its capacity utilization rate from the current 50 percent to 60 to 70 percent as early as...
