NEW YORK - Stocks tumbled on Thursday as the number of Americans claiming jobless benefits rose unexpectedly and renewed fears of sovereign debt problems in Europe led investors to dump riskier assets.
It is vital that Greece meets its stated goals for cutting its budget deficit and steps announced by the government this week are encouraging, European Central Bank President Jean-Claude Trichet said on Thursday.
Nearly all Europe-related stocks, bonds and exchange traded funds are selling heavily during the morning New York session.
A monthly gauge of online labor demand in the United States fell slightly in January as online recruitment activity remained subdued at the start of the year, a private research group said on Thursday.
U.S. stocks gave up more than 2 percent on Thursday after data showed new applications for jobless insurance rose unexpectedly last week, and basic materials shares sank as a rising U.S. dollar hit commodity prices.
The number of workers filing for jobless benefits unexpectedly rose last week, but another big gain in productivity in the fourth quarter offered hope that companies were getting close to adding to payrolls.
An online campaign has started to save the job of an Australian banker who became an internet sensation after he was caught on live television viewing images of scantily-clad supermodel Miranda Kerr on his computer.
India's food inflation rose again to 17.56 percent for the week ended Jan 23 compared with previous week's 17.40 percent. Food inflation, which was easing after touching decade's high of about 20 per cent in December, rose mainly because potatoes became dearer by 44.91 per cent and pulses by 44.43 per cent over the previous year.
U.S. stocks slid 2 percent on Thursday after new applications for jobless insurance rose unexpectedly, and basic materials shares sank as a rising U.S. dollar hurt commodity prices
GMAC Financial Services, a lender that has received more than $16 billion from the U.S. government across multiple bailouts, said it lost $5 billion in the fourth quarter after writing down bad mortgage assets.
Oil fell by more than $2 to below $75 a barrel on Thursday as rising crude inventories and higher unemployment figures in the United States dampened expectations for stronger demand.
Oil fell by more than $1 to below $76 a barrel on Thursday as rising crude inventories and higher unemployment figures in the United States dampened expectations for stronger demand.
U.S. stock markets fell in early trading on Thursday, tracking Asian and European markets as worries over European sovereign debt intensified and concerns arose after a disappointing U.S. unemployment claims report was released this morning.
Wall Street was set to drop nearly 1 percent at the open on Thursday after new applications for jobless insurance rose unexpectedly, adding to worries over sovereign debt in some euro zone countries that kept investors away from risky investments, including equities.
Tough enforcement of trade agreements will help the United States meet President Barack Obama's goal of doubling exports during the next five years, Commerce Secretary Gary Locke said on Thursday.
Oil fell toward $76 a barrel on Thursday as rising crude inventories in the United States signaled a rebound in U.S. economic activity was failing to translate into higher demand.
U.S. stock index futures fell on Thursday as renewed worries over sovereign debt in some euro zone countries kept investors away from riskier investments, including equities, ahead of U.S. jobs and factory data.
Oil fell toward $76 a barrel on Thursday as rising crude inventories in the United States signaled a rebound in U.S. economic activity was failing to translate into higher demand.
Stock futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.5 to 0.6 percent, pointing to a weaker start on Wall Street on Thursday.
The euro hit a seven-month low against the dollar on Thursday as concerns intensified that Greece's fiscal problems would spread to other highly-indebted euro zone countries, while European stocks followed Asia lower.
Toyota Motor Corp expects costs and lost sales from its largest ever safety recall to total $2 billion for the year to March, but raised its outlook after posting its strongest operating profit in six quarters.
U.S. Treasury Secretary Timothy Geithner on Wednesday said insurer AIG's contracts to pay hundreds of millions of dollars in bonuses were outrageous and appealed to Congress to help recoup payments.
Visa Inc posted a stronger-than-expected profit on Wednesday, helped by rising debit card processing volume.
Video game makers should begin to emerge in 2010 from one of their worst industry downturns on record, but investors remain cautious about a sector that has been plagued by bad news.
Federal Reserve Chairman Ben Bernanke on Wednesday said the Fed must be more transparent to the public but also guard its independence, which serves a vital public interest.
Microsoft (NASDAQ:MSFT), Google (NASDAQ:GOOG), Apple (NASDAQ:AAPL), IBM (NYSE:IBM), and Hewlett-Packard (NYSE:HPQ) all rallied during the regular session; in after-hours, these stocks continued to add to their gains.
The Australian Dollar opens lower against the greenback today at 0.8815 after mixed local trade data released yesterday.
Federal Reserve Governor Kevin Warsh said on Wednesday that regulatory improvements alone would not prevent future financial crises and the government must be willing to let firms fail.
A computer security expert has uncovered what he says are flaws in widely used software from Oracle Corp that could let hackers remotely access sensitive information in corporate and government databases.
Stocks mostly fell on Wednesday as Pfizer's disappointing outlook weighed on the health sector, and President Obama's pledge to complete banking and healthcare reform revived fears of increased regulation.
