Extensive reconstruction after Australia's floods risks fuelling a wages blow-out, as flooded states and the booming resource sector bid for scarce workers, which will in turn push up inflation and add pressure for a tightening of interest rates.
Some of the United States' top bankers descended on a law firm in midtown Manhattan on Thursday to make a pitch for managing what could be one of the largest share sales in history -- a secondary offering for bailed-out insurer American International Group Inc.
The market is often an anonymous place where you don't really know who is on the other side of your trade. Sometimes, however, it gets personal.
The S&P 500 Index gained 3.69 points, or 0.29 percent, to trade at 1,278.17 at 9.30 a.m. EDT. The Dow Jones Industrial Average rose 32.93 points, or 0.28 percent, to trade at 11,704.81. The Nasdaq Composite Index advanced 11.50 points, or 0.42 percent, to 2,728.49.
Here are the ten best-performing stocks of the S&P 500 for 2010.
Bruce Berkowit, president of Fairholme Capital Management has a huge stake in bailed-out insurance company American International Group (NYSE: AIG) which has just about doubled in price year-to-date (from just under $30 per share to just under $60).
Futures on major U.S. stock indices point to higher opening on Tuesday with futures on the S&P 500 up 0.21 percent, futures on the Dow Jones Industrial Average up 0.15 percent and Nasdaq100 futures up 0.13 percent.
Stocks finished narrowly mixed in very light trading as a monstrous snow storm on the East Coast likely kept many traders home and a rate hike over the weekend by China dampened some investor sentiment.
Shares of American International Group Inc. (NYSE: AIG) are soundly higher this morning after the company said it entered bank credit facilities totaling $3-billion.
The stock market rallied modestly on U.S. mergers and acquisitions (M&A) activities and China’s continued support for European Union’s (EU) sovereign debt market.
The stock market is up slightly as Chesapeake Energy (NYSE:CHK) jumped 8.41 percent and financial stocks rose broadly. However enthusiasm was tempered by the downgrade of American Express (NYSE:AXP).
Richard Holbrooke, a top U.S. diplomat who was a key figure in negotiating peace to end the war in Bosnia 15 years ago, and was the special envoy to Afghanistan and Pakistan, died on Monday.
Stocks finished narrowly mixed in lethargic trading as an early jump on a benign jobless claims data faded away on a stronger U.S. dollar and later on news that Democrats in the House voted against considering the tax cut extensions that President Obama negotiated with Republicans.
Insurance giant American International Group has signed a debt repayment deal with Federal Reserve Bank of New York, paving way for the Treasury Department to sell a significant stake in the company early next year.
Billionaire investor Warren Buffett praised the U.S. government for bailing out Wall Street and saving the U.S. economy during the height of the financial crisis.
Rebalancing will also mean moving focus from the financial sector.
MetLife Inc., the largest life insurer in the U.S., said it plans to discontinue the sale of new Long-Term Care Insurance (LTCI) coverage next year, citing ongoing financial challenges facing the LTCI industry.