U.S. stocks edged up higher on some positive jobs data and reassurance from the Federal Reserve that the economy is recovering. However, any equity gains were capped by fears over the continued unrest in Libya and rising crude oil prices.
Britain, France and Tunisia have started airlift thousands of Egyptians stuck at the Libya-Tunisia border to safety in Cairo, in response to pleas from the United Nations (UN) to prevent a humanitarian crisis.
U.S. stocks eked out gains on Wednesday despite another rise in oil prices, as investors bet the latest signs of economic strength may be able to absorb expected higher energy costs.
U.S. stocks edged up higher on some positive jobs data and reassurance from the Federal Reserve that the economy is recovering.
Libya’s embattled leader Moammar Gaddafi has offered amnesty and some other concessions to anti-government rebels who turn in their weapons.
Gold touched a record high above $1,440 an ounce on Wednesday, as a bullish confluence of political unrest in Libya, surging oil prices and easy monetary policies spurred safe haven buying.
Prices for Dollar investors to Buy Gold crept higher to reach a new all-time record Wednesday lunchtime in London, as crude oil rose further above $100 per barrel and world stock markets fell for the eighth time in nine sessions.
The United Nations (UN) has warned that up to100,000 African migrants may seek to escape strife-torn Libya and cross into poverty-stricken Niger in the next few weeks, fearing they may be killed by anti-Gaddafi Libyans who believe they are mercenaries.
Exile for Libyan Leader Muammar Gaddafi is an option, according to U.S. Officials. While no world leaders have publicly offered asylum weeks into a crisis threatening to become civil war, the leaders of Venezuela and Nicaragua have shown support for Gaddafi in recent days.
Socks rose on Wednesday after employers added more jobs than expected last month, but shares came off their highs as oil prices surged in a correlation expected to define trading in the near term.
Oil prices jumped to near 2-1/2 year highs on Wednesday after an airstrike near Libya's oil infrastructure kept the market braced for a prolonged disruption from the OPEC nation and worried unrest might spread to other regional producers.
About 350 illegal migrants from Tunisia have reached Italy by boat, raising fears of more people strife-torn North Africa will try to cross the Mediterranean for Europe.
Oil rose on Wednesday as escalating violence in Libya threatened the OPEC nation's oil infrastructure and markets braced for a potential prolonged disruption.
Stocks were slightly higher on Wednesday as strong labor market data offset the impact of continued high oil prices.
The International Criminal Court prosecutor said on Wednesday he would investigate the violence in Libya after the U.N. Security Council referred the case to the Hague-based war crimes tribunal.
Muammar Gaddafi launched a land and air offensive to retake territory in Libya's east at dawn on Wednesday, sparking a rebel call for foreign air strikes against African mercenaries they said were helping him cling to power.
Stocks were slightly higher on Wednesday as strong labor market data offset the impact of continued high oil prices.
U.S. stocks advanced in early trade on Wednesday after ADP National Employment report showed that the private sector employment rose more than expected in February.
Fears of a supply disruption arising from continued unrest in Libya have pushed up oil prices, but a leading Libyan oil official warns they could spike even higher if there is no immediate resolution to the ongoing violence.
Gold prices held just below the previous session's record high in Europe on Wednesday, as the acceleration of global inflation and the threat that violence in the Middle East and North Africa will spread supported interest in the metal as a haven from risk.
Here are some vignettes of pitched battles raging in Libya as well as visuals of the humanitarian crisis unfolding in the North African country:
Stock index futures were slightly higher on Wednesday, stabilizing a day after a surge in oil prices led to a heavy sell-off.