ECONOMY & MARKETS

The world's largest economy was headed toward an unprecedented default, and all Washington wanted to talk about was the manner in which the president had left a room.

Is there one statistic that can provide a quick-read on the U.S. economy's health and outlook? Indeed there is: it's the price of oil.

South Africa has agreed to a 2.5 billion rand bailout for Swaziland to help it through a budget crunch that had prompted unprecedented protests against Africa's last absolute monarch, officials said on Wednesday.

South African government bonds rallied sharply on Wednesday and the yield on the benchmark note fell to 9-month lows as a gloomy global economic climate cast a shadow on the domestic outlook.

U.S. automakers reported higher sales for the month of July, but the ongoing weak economic environment doesn't bode well for the sector.

Authenticity of research company's Web site questioned.

The top pre-market NASDAQ Stock Market gainers are: Global Traffic Network, AMAG Pharmaceuticals, Allscripts Healthcare Solutions, InterDigital, and ZST Digital Networks. The top pre-market NASDAQ Stock Market losers are: Smith Micro Software, MicroStrategy, OpenTable, Sonus Networks, Garmin, and Dunkin' Brands Group.

The world's economy moved closer to stagnation last month as firms in Asia and Europe reined back in the face of an ongoing debt crisis and signs of a new U.S. slowdown, business surveys showed on Wednesday.

The companies whose shares are moving in pre-market trade on Wednesday are: SuccessFactors, Genworth Financial, Juniper Networks, Rockwell Automation, MasterCard, Fiserv, Frontier Communications, Archer Daniels Midland, Urban Outfitters, Marathon Oil and Thor Industries.

With more than 14 million people out of work, consumer spending falling by the day, the GDP growth outlook remaining grim and rising inflation denting confidence of ordinary people, a massive spending cut of more than $2 trillion would be the proverbial last straw on the camel's back.

Jefferies said 3G wireless data will drive significant change in China Telecom landscape over the next two years.

The top after-market NYSE losers on Tuesday are: Ion Geophysical, Boston Beer Co, HFF, Orbitz Worldwide, Emdeon, Buckeye Technologies, Calgon Carbon, Arcos Dorados Holdings, Thor Industries and MetroPCS Communications.

The top after-market NYSE gainers on Tuesday are: Willbros Group, SuccessFactors, Zale Corp, Orient-Express Hotels, Pilgrim's Pride Corp, Modine Manufacturing, Quanex Building Products, KBW, Harris Corp and United Rentals.

The top after-market NASDAQ Stock Market gainers are: j2 Global Communications, Westell Technologies, Winn-Dixie Stores, Commercial Vehicle Group, and Merge Healthcare. The top after-market NASDAQ Stock Market losers are: Smith Micro Software, Liquidity Services, Cavium Networks, Black Box, and OpenTable.

If you thought that space exploration and zero-gravity experience is only for astronauts and celebrities, then think again.

Moody's Investors Service on Tuesday confirmed its Aaa rating of the United States, citing the decision to raise the debt limit, but assigned a negative outlook that could pressure lawmakers to cut the U.S. deficit.

Over the last seven consecutive days, the index has plunged 6.76 percent.

Zimbabwe needs an extra $73 million in humanitarian aid this year, mainly due to increased food needs for vulnerable groups despite improvements in the agriculture sector, United Nations agencies said on Tuesday.

Despite mining minister Susan Shabangu's reluctance to say it, South Africa is not going to nationalise its mines.

South African government bonds rose on Tuesday, boosted by an auction which saw the strongest demand in a year with foreign buying a key feature.

China's spot alumina prices have risen 7-9 percent since June due to increased demand and strong aluminium prices, and traders and analysts say prices could rise further in the second half on speculative buying.

Buyout firm Carlyle Group agreed to buy 9 percent of Haier Electronics Group Co Ltd (HEG) through convertible bonds, raising its stake in a Chinese company expanding into Japan and China's untapped markets.

China is likely to export 45 million tonnes of steel products in 2011, up 5.7 percent compared with last year, the industry ministry said on Tuesday.

SABMiller , the world's second largest brewer, moved to expand further in China on Tuesday by increasing its stakes to 100 percent in two brewers in the central Chinese province of Zhejiang for $47 million in cash.

Google beefs up its daily deal services.

The top pre-market NASDAQ Stock Market gainers are: Foster Wheeler AG, SIRIUS XM Radio, Cognizant Technology Solutions, Sohu.com, and Pan American Silver. The top pre-market NASDAQ Stock Market losers are: Ctrip.com International, Allot Communications, Nova Measuring Instruments, Kulicke & Soffa Industries, and Ryanair Holdings.

The companies whose shares are moving in pre-market trade on Tuesday are: American Tower, Cognizant Technology Solutions, Chesapeake Energy, Duke Energy, Hasbro, MetroPCS Communications, Archer Daniels Midland, FMC Corp, United States Steel, Target Corp and Molson Coors Brewing Co.

The top after-market NYSE gainers on Monday are: Herbalife, McClatchy, Hanger Orthopedic Group, Dice Holdings and Molina Healthcare Inc. The top after-market NYSE losers are: Ferro Corp, General Cable, Graphic Packaging Holding, CH Energy Group and Banco Latinoamericano de Comercio Exterior.

Jefferies & Co. upgraded its rating on shares of RadiSys Corp. (NASDAQ: RSYS) to "buy" from "hold" while maintaining its price target of $10.