Stocks rose on Friday after the government's bank stress tests fueled hopes that the worst is over for the financial sector, while news of fewer-than-expected April job cuts suggested the economic slump was easing.
Goldman Sachs Group Inc Chief Executive Lloyd Blankfein sounded a guardedly optimistic forecast for an economic recovery during the bank's annual meeting on Friday.
A group of Chrysler LLC's dissident lenders disbanded, representatives said on Friday, removing the last legal hurdle to the embattled automaker's quest to complete a merger with Italy's Fiat SpA with U.S. government backing.
U.S. employers cut 539,000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy's steep decline might be easing and gave the stock market a boost.
Stocks rose on Friday after the government's stress test results on big banks increased optimism about financial stocks, and data showed employers cut fewer-than-expected jobs in April.
U.S. employers cut 539,000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy's steep decline may be easing.
The Obama administration has renewed sanctions against Syria due to serious concerns over its behavior, despite sending two top envoys to Damascus this week to try to improve ties, U.S. officials said on Friday.
Natural gas provider Clean Energy Fuels Corp (CLNE.O: Quote, Profile, Research, Stock Buzz) said it will acquire oilfield services company Exterran Holdings Inc's (EXH.N: Quote, Profile, Research, Stock Buzz) natural gas fueling station business for $5.9 million.
Oil retreated from session highs below $58 a barrel on Friday, but stayed within sight of six month highs after positive data on the U.S. economy.
The Dow and S&P 500 rose on Friday after the government's stress tests results on big banks lifted optimism on financial stocks, and data showed employers cut a smaller-than-expected amount of jobs in April.
Reactions to the stress test result for the 19 banks are rather calm. The Fed determined that 10 US banks must raise a total of $74.6B. In other words,9 of the biggest baAnks have enough capital to withstand a deeper recession.
Liberty Media Corp (LINTA.O) posted a decline in operating income and revenue on Friday as sales at its QVC shopping channel plunged in the U.S. and Britain due to a difficult retail environment.
Retailers sought to dampen hopes of a quick recovery from recession at an industry summit this week, warning a legacy of over-expansion, changing consumer habits and online competition could curb growth for years.
Three big U.S. banks raced to sell stock after the U.S. government said top financial firms have a $75 billion hole in their capital, while first-quarter results from two European banks showed bad debts are soaring.
Asian countries agreed on Friday to boost drug stockpiles, share essential supplies and tighten surveillance against an H1N1 flu virus that posed an imminent health threat to the region.
McDonald's Corp reported a 6.9 percent rise in April sales at restaurants open at least 13 months, as strength in the United States helped offset the impact of the stronger dollar.
Pakistani forces have killed 143 militants over the past 24 hours in fighting in the Islamist bastion of Swat northwest of the capital, the military said on Friday.
Mexico's peso firmed on Friday and stocks jumped as the U.S. government's stress tests eased worries about major banks and data showed employers in the United States cut fewer jobs than expected in April.
U.S. Defense Secretary Robert Gates is expected to appoint a three-star general to boost the U.S. military leadership in Afghanistan, the Wall Street Journal reported Friday.
North Korea faces consequences if it goes ahead with a second nuclear test, but little can be done to stop it, the U.S. special envoy to the communist state said on Friday.
Stock index futures were poised for a higher open on Friday after the government's stress tests results on big banks lifted optimism on financial stocks and data showed employers cut a smaller-than-expected amount of jobs in April.
A recent surge in Asian shares lost steam ahead of U.S. monthly jobs data later on Friday that may signal whether the global economy has indeed hit bottom, after stress tests on U.S. banks offered no real surprises.
