Markets Do U-Turn After Bernanke Speaks: Daily Markets Wrap

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.

Bernanke: Progress Lowering Unemployment Could Fade

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.

India's Economic Growth Weakest in 3 Years; Q3 GDP Grows at 6.1 Percent

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.

India Gold Seen Rising above 29,000 Rupees

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 Backs Part of Keystone XL Pipeline

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 Spill Trial Delayed One Week

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.


Steam is emitted from an oil refinery in Yokohama, south of Tokyo January 26, 2011.

Bank of Japan Keeping an Eye on Easing's Effect on Crude-Oil Prices

Bank of Japan Gov. Masaaki Shirakawa said on Saturday policy makers are closely watching the impact of looser monetary policy on crude-oil prices. Along with the European Central Bank and the U.S. Federal Reserve, the Bank of Japan is taking unconventional steps to boost the economy.
Traders work on the floor of the New York Stock Exchange February 24, 2012.

Wall Street Rally Will be Put to the Test Next Week

A rally on Wall Street will be put to the test next week, with the S&P 500 index at its highest closing level since before the collapse of Lehman Brothers Holdings Inc. in 2008 and the European Central Bank about to flood the financial markets with a new wave of cheap money.
U.S. Secretary of State Hillary Clinton and World Bank President Robert Zoelick take part in a ceremony marking World Water Day at World Bank Headquarters in Washington, March 22, 2011.

U.S. Should Lead Some Global Bodies: World Bank Chief

A solid U.S. candidate to head the World Bank would be good for the United States and the bank because the world's largest economy should be represented in top international bodies, outgoing President Robert Zoellick said on Saturday, while emphasizing he has no role in the selection process.
US Economy

S&P 500 Rises to Highest Level Since 2008

The Standard & Poor's 500-stock index closed Friday at its highest level since June 2008 as a result of the rise of the U.S. stocks subsequent to increasing confidence on revival of economic situation with the approval of the Greece bailout package.