GLOBAL MARKETS

Stocks fell on Wednesday as President Barack Obama's first address to Congress shed little new light on how he plans to stabilize the economy and shore up banks, and gloomy home sales data fed the negative sentiment. Obama said in his speech on Tuesday night the United States would emerge stronger from the ongoing crisis, but investors found little in what he said to spur buying after the market...

European shares turned negative in afternoon trade on Wednesday, tracking weaker U.S. markets, as investors stayed concerned that measures taken by governments to revive the economy were insufficient.

EQUITY FUTURES REGAIN NEARLY ALL OF MONDAY'S LOSSES, AS FED CHAIRMAN CALMS FEARS OF BANK NATIONALIZATION, FOCUS TURNS TO VALUE SHOPPING.

A New York businessman's claim to recover $10 million he invested with Bernard Madoff's firm, days before the financier's arrest will not be treated differently than other customer claims, a judge ruled on Tuesday. In January, New York fuel service company president Martin Rosenman sued court-appointed trustee Irving Picard for the return of $10 million wired to the Madoff firm and put into a ...

is down more than 50 percent or about $10 trillion. Bernanke warned on Tuesday the severe U.S. recession may drag into 2010 unless the government succeeds in stabilizing the banking system and financial markets with strong action.

Stocks retreated on Monday and the Nasdaq fell more than 1 percent as a sell-off in technology shares overshadowed gains in banks after reports that Washington could end up with a big stake in Citigroup common stock. Large-cap technology companies led the Nasdaq lower, including Apple , which fell more than 2 percent. The declines reversed an earlier bounce fueled by gai...

European leaders meeting in Berlin on Sunday backed oversight of the world's financial markets and products, including hedge funds, and urged that sanctions be drawn up to punish tax havens. A copy of the chair's summary from a summit hosted by Chancellor Angela Merkel and seen by Reuters describes the situation in financial markets as fraught and says structural reforms and a focus on ...

Bold official action to tackle the U.S. recession will restore growth later this year but the Federal Reserve can still do more if a recovery fails to appear, a top Fed policy-maker said on Thursday. If forecasts of improvement don't materialize, the Fed is not without capacity to act, even with the fed funds rate at its lower bound, Federal Reserve Bank of Atlanta President Dennis Lockhart ...

World stocks rose from the previous day's three-month low on Thursday, while the dollar and government bonds fell, as some European corporate quarterly results were better than the most pessimistic expectations. Nestle the world's biggest food group, beat forecasts with underlying sales growth of 8.3 percent in 2008 and it was cautiously upbeat for 2009. BNP Paribas

Shares in Swiss banking giant UBS AG rose 3 percent on Thursday after it agreed to pay $780 million and identify certain American clients to settle criminal fraud charges in the United States. The settlement, announced on Wednesday, further cracks Switzerland's trademark bank account secrecy and could have wide implications for the $7 trillion-offshore banking industry by making it harder to try...

Japan's Nikkei average rose 0.3 percent on Thursday, a day after closing at its lowest point in nearly four months, as blue-chip exporters gained on the dollar's first move above 93 yen in six weeks. The Nikkei gained 23.21 points to 7,557.65, capping three days of losses in which it fell about 3 percent. On Wednesday, the benchmark booked its lowest close since October 27. The broader Topix &...

Japan's Nikkei average rose 0.4 percent on Thursday, a day after closing at its lowest in nearly four months, as blue-chip exporters gained on the dollar's climb above 93 yen for the first time in six weeks. Astellas Pharma rose after Nikko Citigroup raised its rating on the stock to buy/medium risk from hold/medium risk, saying the drugmaker's upwardly revised targets for the year to ...

The S&P 500 and Nasdaq closed marginally lower on Wednesday as President Barack Obama's $275 billion plan to prop up the housing market failed to stem worries about the economy, and bleak housing data highlighted the deepening recession. Indexes see-sawed in a narrow range throughout the day, but the S&P and Nasdaq ultimately failed to hold gains despite bargain-hunting that sent investo...

The S&P 500 and Nasdaq edged lower on Wednesday, after bleak housing data overwhelmed President Barack Obama's $275 billion plan to prop up the housing market. * The Dow eked out a slight gain, narrowly avoiding a new bear-market low. * Adding to the somber mood, the Federal Reserve slashed its economic forecast for 2009, and several companies, including Deere & Co ,posted ...

NEW YORK - Stocks dipped in choppy trading on Wednesday as data pointing to yet more weakness in housing suggested the recession is worsening, offsetting a search for bargains following Tuesday's big market slide. Data showed U.S. housing starts and building permits dropped to record lows in January, with construction plans scrapped as unsold houses stood empty. Drags included shares of financ...

that is the rate of inflation that promotes maximum sustainable employment while also delivering reasonable price stability, Bernanke said. He said the long-run projections should help anchor the public's expectations about the future path of inflation in a way that could help prevent a self-feeding inflationary, or deflationary, psychology. Bernanke said aggressive steps the Fed had taken t...

NEW YORK - Stocks tumbled on Tuesday, pulling the benchmark S&P 500 index to its lowest in three months, after a regional manufacturing report fell to a record low and financial shares slid further on signs of more trouble for European banks. Dismal economic data from Japan added to the gloom and made oil prices sink. Energy shares were the biggest drag on the Dow and S&P stock indexes, ...

NEW YORK - Stocks tumbled at the open on Tuesday on concern that the recession is worsening and that efforts to stabilize the stricken global financial system may not be enough. A report showing that manufacturing production in New York state fell to a record low in February added to worries about the deepening recession among investors already fearful a new U.S. economic stimulus package won't...

to try to ease the deepening recession, but some have been criticized for putting national interests before trade commitments. ACT TOGETHER What shocks me, you see, what bothers me a bit is that in the international arena ... everyone agrees that we need to work and act together, IMF chief Dominique Strauss-Kahn told France Inter radio. Then when everyone goes home, everyone has his nati...

Growing concerns about deteriorating emerging European economies hit European shares and the euro on Tuesday, driving capital to safer government bonds and gold.

World stocks and the euro fell on Monday while safer government bonds rose as dismal Japanese growth data and fresh concerns about the financial sector fanned worries about the deteriorating global economy.

Japan sank deeper into recession with its worst quarterly contraction in 35 years, data showed on Monday, its reliance on exports and soft domestic demand dragging down the world's second-largest economy.

In 1997/98, Asia fell into the economic abyss because of a dependence on inflows of foreign capital, which suddenly turned tail.

On Monday most Asian stock market indicators slumped as new figures revealed Japan's economy contracted the most in 35 years and Group of Seven finance ministers warned the global decline is likely to continue through most of the year.

The International Monetary Fund and the world's big development banks warned on Friday that emerging and developing countries that lack deep pockets to protect themselves against the crushing impact of a global financial crisis may need help soon.

On Friday Brazil's stocks rose as a rally in oil prices boosted commodity stocks, while the national currency also firmed as hopes for an imminent U.S. stimulus package raised investors' appetite for risk.

Stocks inched higher in choppy trade on Friday on optimism over the expected passage of an economic stimulus and government plans to shore up the housing market.

At the close of Thursday's trading, European shares closed at 1.5 percent lower with banks hit by doubts about the U.S. government plan to boost the financial system.

On Wednesday, London stocks closed slightly higher than expected despite the doubts and skepticism of worldwide investors of the viability of the U.S. governments' latest rescue plan for the struggling financial industry.