ECONOMY & MARKETS

The International Monetary Fund on Tuesday raised its projection of growth in the U.S. gross domestic product to 2.1 percent this year and 2.4 percent next year, from 1.7 percent in 2011.

The outbreak of a new livestock disease in western Europe last year, particularly harmful to offspring, could move further into areas surrounding the worst affected countries in the next cycle of new births, scientists say.

U.S. home construction fell 5.8 percent in March even with the help of warmer-than-normal weather in the month, but new building permits jumped to the highest level since September 2008.

The companies whose shares are moving in pre-market trade Tuesday are: Endocyte, Comerica, Canadian Solar, Sprint Nextel, Valero Energy, U.S. Bancorp, Bank of America , China Gerui Advanced Materials Group, KIT digital, Host Hotels and Resorts and Goldman Sachs Group.

Foreign direct investment (FDI) into China continued to fall for the fifth consecutive month in March, as concerns over European sovereign debt crisis curbed investments by companies in the world’s second largest economy.

Most of the Asian stock markets ended lower Tuesday after data showed that foreign direct investment (FDI) into China declined for the fifth month in a row.

Futures on major US indices point to a higher opening Tuesday ahead of the quarterly earnings from top investment bank Goldman Sachs (NYSE: GS) and key housing data due to be released before market opens.

Asian stock markets declined for the second day Tuesday despite better-than-expected US retail sales data as concerns over Europe's debt crisis continued to weigh.

Investment management firm Loomis Sayles' stock market forecast for 2012 and beyond is quite bullish.

Yahoo! Inc. (Nasdaq: YHOO), the beleagured No. 2 search engine, is expected to have flat revenue and earnings in the first quarter as it seeks to turn around stagnant advertising and search divisions under its new CEO.

Apple Inc. stock took a hit Monday as it dropped more than 4 percent to $580.13 a share, its first time below $600 since March 30.

The euro zone experienced a €2.8 billion trade surplus in February, however the European Union as a whole suffered a €9.4 billion deficit, a Eurostat report said Monday.

Spain's debt yields rose above 6 percent on Monday as investors worried about its budget deficit, knocking the euro and sending safe-haven German bonds to a record last set at the height of the euro zone crisis.

The world's largest utility company GDF Suez agreed on Monday to buy 30 percent of International Power for $10 billion, completing a planned takeover of the U.K.-based power company to continue its expansion in fast-growing markets, the company reported.

Gannett Co. (NYSE: GCI), the largest U.S. newspaper group by circulation, said Monday that earnings fell in the first quarter due to a slump in advertising revenue and restructuring costs.

Sales at U.S. retailers rose sharply for the third straight month in March, as Americans continued to weather the hike in gasoline prices and splurged on buying new cars and renovating their homes.

The companies whose shares are moving in pre-market trade on Monday are: First Solar, Alpha Natural Resources, CF Industries Holdings, Advanced Micro Devices, Halliburton, Citigroup, Mattel, Hasbro, Infosys and SCANA Corp.

Asian stock markets ended lower Monday as surge in Spain's borrowing costs renewed concern over the eurozone debt crisis.

Futures on major US stock indices point to a higher opening on Monday ahead of economic data including retail sales.

Asian stock markets declined Monday, following a slump in the US and European stocks last week on renewed eurozone concerns.

Temasek Holdings, the Singapore state-owned investment group, has agreed to buy $2.3 billion worth of shares in the Industrial and Commercial Bank of China (ICBC) from Goldman Sachs, a move that is seen as part of its strategy to increase investment in emerging economies.

As U.S. taxpayers complete their income tax forms, few had as good a 2011 as new Apple CEO Tim Cook, whose compensation now is valued above $600 million.

The bears were on the prowl Friday, as negative economic news out of China, Spain, and the U.S. left global investors struggling to find safe places for their cash -- and the positive developments that did surface appeared to have little effect.

Reports on retail sales and housing starts in March highlight the economic calendar next week, April 16-20. Economists will be watching for any lingering signs of a positive boost from the recent warm weather, as well as indications of whether the strength in consumer demand continues.

JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC) beat first quarter earnings expectations Friday with the help of rising mortgage revenue, but the weak housing market could drag down future gains for the two big banks.

A preliminary survey of consumer confidence for April shows the lackluster job creation seen in March is playing into people's pessimism more than economists had expected. But a recent, tiny, decline in gasoline prices, following a dizzying climb at the beginning of the year, is at least making consumers feel better about inflation and hence, expectations for the future.

The U.S. economic recovery is done, and the economy has begun a cycle domestic consumption-led growth that will differ significantly from the prior cycle that ended in 2008, said Michael Shaoul, chairman of Marketfield Asset Management, a New York investment advisor.

The cost of living in the U.S. increased at a slower pace in March as the rise in energy prices eased, supporting the Federal Reserve’s view that the jump in oil and gas prices is only temporary.

The bank's quarterly profit totaled $5.38 billion, down from $5.56 billion a year earlier. That translated to $1.31 a share, compared with $1.28 a share as the number of shares outstanding declined.