U.S. shares are set to rise on Friday, after stress tests for U.S. banks sparked optimism about the sector's future, and ahead of April's non-farm payroll data.
Asian shares edged lower ahead of U.S. monthly employment data due on Friday that will provide another step in determining whether the recent signs of an improving global economy are real or just wishful thinking.
Bank of America Corp , ordered by the government to find $33.9 billion of capital, said on Thursday it planned to sell assets and issue more common stock to cover the shortfall.
Stephen Friedman, chairman of the New York Federal Reserve Bank's board of directors, resigned on Thursday amid questions about his purchases of stock in his former firm, Goldman Sachs.
Wall Street stocks slid on Thursday as investors took profits from the technology sector's recent surge, while analyst downgrades hurt telecoms and a tepid response to a government bond auction raised fears about public finances.
Hedge fund manager Doug Kass said he is selectively shorting U.S. financial stocks, which have more than doubled since bottoming in early March, on the belief that they have been priced to perfection ahead of the banks' stress test results later on Thursday.
Wells Fargo & Co , the fourth-largest U.S. bank, announced on Thursday a $6 billion common stock offering, as the bank faces regulatory stress tests to determine whether it needs to strengthen its capital.
U.S. stocks slid on Thursday as investors took profits from the technology sector's recent surge, while analyst downgrades hurt telecoms and a tepid response to a government bond auction raised fears about public finances.
This week, based on indicators of improving Chinese manufacturing activity, commodity and stock markets surged in the Pacific Rim.
U.S. stocks fell on Thursday after analyst downgrades hit the telecom sector and investors booked profits in technology stocks, with enthusiasm also fading over results from bank stress tests.
Stocks fell on Thursday as analyst downgrades in the telecom sector and a move out of technology stocks outweighed hopes that bank stress tests results would show most banks are healthier than thought.
A trio of top European banks showed bad debts are ratcheting up as economies worsen and unemployment rises, although investor optimism ahead of U.S. bank stress test results drove shares to year highs.
Asian shares extended their rally Thursday as encouraging signs about the health of U.S. banks and the global economy bolstered riskier assets such as oil and hurt safe-havens such as the yen.
A rally in Asian shares continued on Thursday as encouraging signs about the health of U.S. banks and the state of the global economy bolstered riskier assets such as oil and hurt safe-havens such as the yen.
U.S. stocks rose on Wednesday after a private-sector reading on the labor market signaled unemployment may be receding and leaked bank stress test results suggested most banks are healthier than previously thought.
U.S. stocks rose on Wednesday after a private sector reading on the labor market signaled unemployment may be receding and leaked bank stress test results suggested most banks are healthier than thought.
The Dow and S&P 500 rose more than 1 percent to session highs on Wednesday, boosted by a surge in bank stocks following media reports on stress test results that suggested bank capital shortfalls might be less than previously expected.
The Dow and S&P 500 gained on Wednesday on economic optimism spurred by a jump in bank shares as investors bet that capital shortfalls will be manageable, plus reassuring labor market data and Walt Disney's better-than-expected profit.
The Nasdaq fell on Wednesday, weighed down by profit taking in shares of bellwether names, including Apple, but the Dow and S&P 500 were near breakeven, helped by reassuring news on the labor market and Walt Disney Co's better-than-expected profit.
Wall Street was poised for a higher open on Wednesday as encouraging signs about the job market offset renewed concern about the health of banks after a source told Reuters stress tests show Bank of America has a $34 billion capital shortfall.
Stocks slipped and the yen rose on Wednesday after news Bank of America needs $34 billion in extra capital startled investors who had grown more comfortable with risk ahead of official results of stress tests on U.S. banks due on Thursday.
Stocks slid and the yen rose on Wednesday after news Bank of America needs $34 billion in fresh capital, sending shivers through investors ahead of official results of stress tests on U.S. banks due for release on Thursday.
The Walt Disney Co posted a 26 percent earnings drop on Tuesday as the global downturn ate into ad sales and consumer spending, but company executives said the worst may be over for its key media networks and theme parks businesses.
U.S. stocks fell on Tuesday as cautious investors fretted about impending bank stress test results and energy shares succumbed to the pressure of lower oil prices.
U.S. stocks dipped on Tuesday as investors opted to book profits from the recent sharp run-up, while energy shares succumbed to pressure from retreating oil prices.
This week, the Obama Administration failed to push through a reorganization plan for Chrysler that would have, among other things, used government bailout money to give the United Auto Workers a majority stake in the company.
Stocks slipped on Tuesday as the recent sharp run-up tempted investors to take profits while government stress test results due later this week may show about half of the banks under review need to raise more capital.
Wall Street indexes pointed to a lower open on Tuesday with investors set to book profits a day after the S&P 500 turned positive for the year, while financials were in focus as the market awaits stress tests results from the government.
Chrysler won interim approval from a U.S. bankruptcy court to access a $4.5 billion loan as it tried to move ahead in its planned alliance with Fiat SpA, while the Italian automaker advanced its bid for General Motors Corp's European Opel brand.
World stocks hit a fresh four-month high on Tuesday while government bonds steadied after signs of improvement in the U.S. housing sector and increasing optimism about banks triggered a rally on Wall Street.
