The Nasdaq composite index crossed 3000 for the first time in more than a decade but finished in red following the testimony from Federal Reserve chairman Ben Bernanke which checked market expectations of more monetary easing.
Fed Chairman Ben Bernanke said Wednesday job growth was better than expected and inflation under control, leaving markets thinking central bank intervention was a long way off. The upshot was a dollar rally that hammered gold, stocks and government bonds.
Attorney General Eric Holder says he's ready to take BP and and other defendants to court in the 2010 Gulf of Mexico oil spill.
Gasoline prices across the nation jumped 16 cents since last week and could go higher. Part of the high cost is a tiny city in Oklahoma.
Gas prices in the U.S. are increasing. Is it possible we’ll see a $5 gallon anytime soon? Signs point to yes.
The U.S. economy would have to strengthen to ensure that the unacceptably high jobless rate keeps dropping, Federal Reserve Chairman Ben Bernanke said on Wednesday, suggesting the option of further Fed bond buying remains on the table.
Crude oil is predominantly priced and traded in U.S. dollars, although Iran has already accepted payments in some other currencies.
European stock markets gained in early trade Wednesday ahead of second 3-year long-term refinancing operation (LTRO) by the European Central Bank.
India's economic growth slowed to its weakest annual pace in almost three years in the three months to December, as high interest rates and rising input costs constrained investment and manufacturing. GDP rose 6.1 percent in October to December compared with a year earlier, a lower-than-expected increase, figures from the statistics office showed.
Indian gold futures, which struck a two-month high last week, could extend gains to top 29,000 rupees, a level keenly watched by the market, due to higher crude oil prices and weakness in the dollar versus the euro, analysts said.
White House officials Monday welcomed TransCanada's plans to reapply for the Keystone XL pipeline and showed their support for the company's aims to build the southern portion of the controversial pipeline as a standalone project.
BP, Britain's No. 1 oil company is said to be negotiating a $14 billion settlement for the Deepwater Horizon explosion that killed 11 workers and fouled the Gulf of Mexico for months in 2010.
Gold prices fell 1 percent on Monday, in line with the euro, stocks and other commodities, as worries over the euro zone debt crisis and the impact of high crude oil prices on the fledgling economic recovery fuelled risk aversion.
Why is one professional observer so negative about America's short-term economic prospects?
The start of the liability trial for the BP 2010 Deepwater Horizon explosion that killed 11 workers and fouled the Gulf of Mexico for months, has been delayed for a week allowing more time for embattled BP and fellow defendants to broker a settlement with U.S. prosecutors.
A suicide bomber drove a car packed with explosives into a church in the Nigerian city of Jos on Sunday, killing two people and wounding 38, which led to Christian youths beating two Muslims to death in revenge.
