U.S. consumer confidence soared in May to its highest level in eight months, suggesting underlying improvement in the economy after a grim first quarter that witnessed a record plunge in home prices.
Prices of U.S. homes in March fell a sharp 18.7 percent from a year earlier, though some relief appeared to be in sight as, for the second month, prices did not slide at a record rate as they had been doing since late 2007.
President Barack Obama has named Appeals Judge Sonia Sotomayor to replace outgoing Supreme Court Justice David Souter making her the first Hispanic in history picked to wear the robes of a justice.
The U.S. economy appears destined for several years of weak growth and high unemployment that leave it vulnerable to a recession relapse after the massive dose of government stimulus wears off.
Oil pared losses on Tuesday to trade above $61 a barrel, after Saudi Arabia said oil demand was picking up and in response to positive U.S. consumer confidence data.
U.S. consumer confidence soared in May to its highest level in eight months as severe strains in the labor market showed some signs of easing, though Americans' moods remained depressed by historical standards.
U.S. consumer confidence soared in May to its highest level in eight months as severe strains in the labor market showed some signs of easing, though Americans' mood remained depressed by historical standards.
Prices of U.S. single-family homes fell 18.7 percent in March from a year earlier, while prices in the first quarter dropped at a record pace, according to the Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday.
World stocks fell on Tuesday with Asian shares leading the way as tension about North Korean nuclear tests added to questions over the global economic outlook.
Stock index futures pointed to a flat to lower open on Tuesday after a long weekend as tensions surrounding North Korea unsettled investors and hopes for a quick economic recovery in the near-term ebbed.
Obama to nominate Sonia Sotomayor for Supreme Court
Prices of U.S. single-family homes in March fell 18.7 percent from a year earlier, while prices in the first quarter dropped at a record pace, according to the Standard & Poor's/Case-Shiller Home Price Indices released on Tuesday.
Oil fell below $61 a barrel on Tuesday but climbed from session lows after Saudi Arabia said oil demand was picking up.
Stock index futures pointed to a lower open on Tuesday after a long weekend as tensions surrounding North Korea unsettled investors and hopes for a quick economic recovery in the near-term ebbed.
Stock index futures pointed to a lower start on Tuesday as Wall Street reopens following a long weekend, with investors rattled by mounting tensions surrounding North Korea.
(Corrects direction in Treasuries price and yield moves in paragraph 6)
World stocks fell on Tuesday with Asian shares leading the way as tension about North Korean nuclear tests added to questions over the global economic outlook.
Oil fell below $60 a barrel on Tuesday, pressured partly by a firmer U.S. dollar and expectations an OPEC meeting later this week would keep the producer group's output unchanged.
Oil fell below $60 a barrel on Tuesday, pressured partly by a firmer U.S. dollar and expectations an OPEC meeting later this week would keep the producer group's output unchanged.
Stock index futures pointed to a lower start on Tuesday as Wall Street reopens following a long weekend, with investors rattled by mounting tensions surrounding North Korea.
Lehman Brothers Holdings Inc's U.S. estate administrators will ask a federal judge on Tuesday to approve a framework for coordinating bankruptcy proceedings for the bank's subsidiaries worldwide, putting them at odds with its administrators in the UK, the Wall Street Journal said.
Wall Street may feel more pressure next week unless a raft of economic data, including consumer confidence, home sales and GDP, restores the optimism that had driven a two-month rally before fading in the past few days.
In the world of corporate profits, much like the broader economy, less bad is good these days. Unfortunately, it's not good enough to stem the rise in unemployment.
Switzerland will attend a high-level meeting on tax havens taking place in Berlin on June 23 after host Germany, the most vocal critic of Swiss bank secrecy, agreed to extend an invitation to Berne.
Japan raised its economic outlook for the first time in three years on Monday, and an important measure of German business sentiment rose in May in further signs the worst of the global recession may be over.
Kenya is introducing several laws to strengthen its financial sector as new products such as mobile phone banking fill the market in the wake of technological advances, its finance minister said on Monday.
Dallas Federal Reserve President Richard Fisher said there was no sign of a problem with U.S. inflation at the moment, and revealed that Chinese officials had quizzed him on the Fed's purchases of U.S. government bonds.
A key measure of German business sentiment rose in May and Japan raised its economic outlook for the first time in three years in further signs the worst of the global recession may be over, with stability seen later in 2009.
Oil prices fell toward $61 a barrel on Monday, giving away some of last week's gains, ahead of OPEC's meeting in Vienna, where the group was widely expected to agree not to cut oil output further.
