ECONOMY & MARKETS

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Asian Stocks Inch Lower; Euro Extends Drop

Asian stocks fell on Thursday, taking cues from weak U.S. and European shares, as players cut positions heading into the year end with an Italian debt auction later in the day keeping markets nervous.

Greece, Portugal, Ireland Fared Worse in 2011: World Economy Report Card

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The world entered 2011 with cautious optimism that things would improve over the gloom of 2009 and 2010. However, the past year has proven to be quite turbulent. The global economy was faced with a myriad of challenges including the European debt crisis, while the overall economic performance in the industrialized world left much to be desired.
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Oil Prices

Oil Prices Hover Near $101 Amid Middle East Concerns

Talk of closing the Strait of Hormuz is generally seen as an empty threat from Iran. The U.S. State Department said it saw an element of bluster in the threat. Yet it has been made before and since nearly one-third of all tanker traffic passes through the Strait of Hormuz the concern lingers. Most, however, don't seem to think Iran could or would pull it off, for long anyway.
Case Shiller Oct

Case-Shiller Home Price Index Falls in October

Home prices in 20 major U.S. cities fell 3.4 percent in October compared with the previous year, signaling continued weakness in the housing market, according to the S&P/Case-Shiller Home Price Indices.
Mengniu said it destroyed a batch of products at a plant in the southwestern province of Sichuan which contained aflatoxin, a substance produced by food fungus that can cause severe liver damage, including liver cancer.

Tainted Milk Destroyed, says China's Mengniu

China Mengniu Dairy Co Ltd, the nation's biggest dairy firm, said it had destroyed milk found to be contaminated with a cancer-causing substance, the latest food safety problem to hit the country's dairy industry.
Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange

'Santa Claus Rally' May Face a Test Next Week

Get ready. The last trading week of the year will be a test for stocks to prove whether they have the strength to carry a rally into next year. The broad S&P 500 index broke through its 200-day moving average on Friday after turning positive for the year as a four-day rally lifted stocks following a spell of better-than-expected economic data.
Bank of Canada says Greece exit not the cure

Economy runs out of steam in October

Canada's economy stalled in October after four consecutive months of growth, pointing to a fourth-quarter slowdown as increasing global uncertainty mutes expectations for next year.
A man walks past signs marking houses for sale in Washington

New U.S. Home Sales Increase 1.6 Percent in November

Sales of new U.S. single-family homes increased to an annual rate of 315,000 in November, up 1.6 percent from October and 9.8 percent from November 2010, according to the U.S. Census Bureau and Department of Housing and Urban Development.
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U.S. Stock Index Futures Point to More Gains

U.S. stock index futures point to Wall Street edging higher Friday, extending a rally into a fourth session, as labor market and other data in the United States pointed to a strong economic recovery.
A man looks at a stock quotation board outside a brokerage in Tokyo

U.S. Economy Hopes Fuel Pre-Christmas Stock Buying

Fresh signs the giant U.S. economy is gaining momentum drove major world stock markets and the euro higher on Friday, with activity likely to be thin in the last session before the Christmas holiday.
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Asian Stocks, U.S. Futures Rise

Asian stocks rose more than 1 percent and U.S. index futures also gained on Friday, as signs of a strengthening economy in the United States encouraged a year-end bounce for riskier assets.

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