Stocks rose on Tuesday as IBM's dividend boost and reassuring data that could point to a bottom in the slow economic cycle offset worries that major banks may need to raise more money.
U.S. stocks rose modestly on Tuesday as a dividend hike at IBM and reassuring data that could signal a bottom in the economic cycle offset concerns that major banks may need to raise more money.
Anxiety over a global flu crisis and the health of some U.S. banks rattled hopes on Tuesday that the financial system was stabilizing, but U.S. and other data suggested confidence was returning to consumers.
U.S. lawmakers plan to take a closer look this week at the federal government's response to the swine flu outbreak that has sickened people in five states and killed dozens in Mexico.
Two more students at a Sacramento-area school have been confirmed to have swine flu, health officials said on Monday, bringing to 13 the number of known cases in California.
More than 40 people in five states have been sickened by new strain of swine flu that doctors fear may cause a pandemic, U.S. officials said on Monday, promising more cases to come.
Weather experts are studying swine flu to see if climate could influence its spread and severity.
Determining the impact of cold, heat, dryness and humidity on the H1N1 strain -- which has killed up to 149 people in Mexico and had milder effects elsewhere -- could illuminate the countries and regions most vulnerable to infection.
New Zealand and Israel confirmed cases of swine flu on Tuesday, the latest countries hit by a new strain that has killed up to 149 people in Mexico and which threatens to become a pandemic.
Wall Street was set for a drop of about 1 percent at the open on Tuesday as a report that Bank of America Corp and Citigroup Inc may need more capital revived fears about the stability of the struggling financial sector.
Global airlines were warned on Tuesday of significant falls in traffic due to the outbreak of swine flu, and their shares took another hit on fears that the fallout could be at least as bad as that of the 2003 SARS crisis.
Fears about a possible global flu crisis and renewed worries over the capital health of some U.S. banks combined on Tuesday to rattle economists' hopes the financial system was stabilizing.
Removes references in paragraph 2 to Citigroup needing billions of dollars in new capital
Stock futures pointed to a lower open on Tuesday as a report that Bank of America Corp and Citigroup Inc may need more capital revived fears about the stability of the struggling financial sector.
Fears about a possible global flu crisis and renewed worries over the capital health of some U.S. banks combined on Tuesday to rattle economists' hopes the financial system was stabilizing.
Oil prices extended losses on Tuesday, falling about 2 percent toward $49 a barrel after a report that Citigroup and Bank of America may need to raise more capital, renewing worries about the financial sector.
Oil prices extended losses and fell below $50 a barrel on Tuesday, as a rising death toll from a flu outbreak that started in Mexico fanned fears of a pandemic potentially hurting the world economy and air travel.
The World Bank said today that it will provide Mexico with more than $205 million to fight the deadly swine flu which broke out last week.
Mexico said a new flu virus has killed up to 149 people and it ordered all schools to close across the country on Monday as the disease spread in the United States, Canada and Europe, raising fears of a pandemic.
U.S. stocks fell on Monday on concerns the spreading of a new strain of flu could dampen optimism about the economy, overshadowing a sweeping overhaul of General Motors Corp and gains in biotechnology stocks.
U.S. stocks fell on Monday on concerns the spreading of a new strain of flu could dampen optimism about the economy, overshadowing a sweeping overhaul of General Motors Corp and gains in biotechnology stocks.
Early Monday afternoon, a 5.6 magnitude earthquake shook Mexico City, sending residents into the streets who were already frightened by the latest swine flu outbreak.
The threat of a pandemic triggered by a new swine flu strain that has killed more than 100 people in Mexico will provide a windfall for some makers of drugs, vaccines and protective masks.
