Stocks sold off late in the session to end with modest gains on Tuesday as Citigroup's steep drop in profit gave investors a reason to unload bank shares.
Stocks sold off late in the session to end with modest gains on Tuesday as Citigroup's steep drop in profit gave investors a reason to unload bank shares.
U.S. authorities on Tuesday unsealed criminal charges accusing a father and son team, both Russian citizens, of hacking into U.S. bank accounts and illegally snatching credit card numbers and stealing hundreds of thousands of dollars.
Stocks advanced on Tuesday but sharply pared gains late in the session after Citigroup's steep drop in profit gave investors a reason to unload bank shares.
European shares hit a 5-1/2-month high on Tuesday before closing above a key resistance level, boosted by automobile and mining stocks after Chinese economic data raised hopes the country would further ease its monetary policy to stimulate growth.
U.S. stocks gained on Tuesday as brighter sentiment about China's growth prospects overshadowed Europe's recent credit downgrades and a mixed bag of big bank earnings.
Citigroup Inc's fourth-quarter profit fell 11 percent and missed Wall Street estimates as the European debt crisis battered capital markets, hurting trading revenue and discouraging clients from doing deals.
Stocks rose on Tuesday as improved sentiment about growth prospects in China overshadowed recent credit downgrades in Europe and a mixed bag of big bank earnings.
Stocks rose on Tuesday as improved sentiment about growth prospects in China overshadowed recent credit downgrades in Europe and a mixed bag of big bank earnings.
Wells Fargo & Co beat Wall Street estimates with a 20 percent increase in fourth-quarter profit, boosted by improving credit quality and continued loan growth.
Citigroup Inc reported lower fourth-quarter profit while Wells Fargo & Co. said profit rose. Both big banks said their quarters were helped by declining bad loan costs.
Stocks were set to open higher on Tuesday as Chinese data fueled the belief the government may move to stimulate growth, overshadowing recent credit downgrades in Europe and a mixed bag of bank earnings.
Citigroup Inc fourth-quarter profit fell 11 percent and missed Wall Street estimates as the European debt crisis battered capital markets trading and discouraged clients from doing deals.
Japan's Nikkei average edged higher on Tuesday and recovered its footing after better-than-expected Chinese economic data and solid demand at a French treasury bill auction reassured investors in the wake of European debt downgrades.
Stock index futures rose on Tuesday as investors looked to corporate profits as earnings season picks up and Chinese data fueled the belief the government may move to stimulate growth.
Stock index futures rose on Tuesday as investors looked to corporate profits as earnings season picks up and Chinese data fueled the belief the government may move to stimulate growth.
Japan's Nikkei average fell to a one-month closing low on Monday after downgrades of nine European countries, including a cut in France's triple-A rating, escalated fears over the region's ability to end its debt crisis.
Iran's effort to recover some $1.75 billion frozen in a U.S. bank faces a new obstacle due to a law President Barack Obama signed last month, potentially further squeezing Tehran's economy and exacerbating tensions between the two countries.
Bank of America Corp told Federal Reserve officials in June that it could shed branches in some parts of the country if it needed to raise capital in an emergency, a person familiar with the matter said.
A group that represents CEOs of major U.S. corporations, including Citigroup, defended the SEC's settlement with the financial giant that allowed the company to avoid admitting any liability or wrongdoing in a securities fraud case.
Japan's Nikkei share average climbed to a one-week high on Friday, rising above the key threshold of its 25-moving average after smooth European debt auctions prompted buying of exporters, while the market remained on edge ahead of U.S. corporate earnings.
A federal judge refused on Thursday to throw out a lawsuit accusing General Electric Co and its chief executive of misleading investors about the conglomerate's financial health and exposure to risky debt during the 2008 financial crisis.
