U.S. stock index futures fell on Friday as President Barack Obama's proposed sweeping restrictions on banks and the delayed confirmation of Fed Chairman Ben Bernanke put investors on the defensive after a 10-month rally.
Asian stock markets skidded on Friday and commodity prices fell across the board after U.S. President Barack Obama proposed new restrictions on banks that spurred selling of risky assets.
After the Nasdaq composite index closed down 1.12 percent to trade at 2,265.7 and the S&P 500 index fell 2.01 percent to close at 1,116.48, Google (NASDAQ:GOOG) and several lesser known tech and financial companies reported earnings.
Burlington Northern Santa Fe Corp , the No. 2 U.S. railroad, posted stronger-than-expected earnings on Thursday, lifted by improving volumes, and the company said it expected the freight recovery to continue in 2010.
Stocks suffered their worst one-day percentage drop since October on Thursday as U.S. President Barack Obama proposed tough restrictions on banks that would squeeze profits.
The S&P 500 index fell on Wednesday as stocks declined following President Barack Obama's announcement of his proposal for new bank regulations.
U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.
U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.
Continental Airlines Inc and Southwest Airlines Co results topped Wall Street estimates as more people booked flights and ticket prices rose, but the airlines said Thursday the path to recovery would be rough.
The Dow Jones Industrial average was down nearly 2 percent on Wednesday as commodities and financial stocks fell following President Barack Obama's announcement that he would seek further curb big banks.
Wall Street tumbled on Thursday after President Barack Obama proposed rules aimed at making the financial system safer by preventing the biggest banks from taking excessive risks.
Xerox Corp said its quarterly profits got a boost from improving sales and cost cuts, and it delivered an optimistic outlook, sending its shares up 5.6 percent.
U.S. stocks fell 1 percent on Thursday on uncertainty about the impact of proposed restrictions expected from the Obama administration on big banks.
When China's government has signaled monetary tightening in recent weeks, U.S. stocks have fallen.
The Dow and S&P 500 fell on Thursday as fears any proposed new restrictions by the Obama administration on big banks would cut profits at large trading firms like Goldman Sachs Group.
The S&P 500 turned positive and the Dow pared losses on Thursday following a rise in a gauge of the U.S. economy's prospects and a snapshot of factory activity in the U.S. Mid-Atlantic region.
Health insurer UnitedHealth Group Inc posted better-than-expected quarterly profit on Thursday, helped by moderating flu costs and growth in its businesses serving the elderly and low-income Americans, and its shares rose 3.6 percent.
U.S. stocks were set for a flat open on Thursday as a rise in initial weekly jobless claims offset better-than-expected earnings from several banks, including Goldman Sachs Group .
U.S. stock index futures rose on Thursday ahead of quarterly results from Goldman Sachs Group
Stock index futures rose on Thursday ahead of quarterly results from Goldman Sachs Group , which leads another round of earnings reports, and data on the labor market and a leading economic index.
Stock index futures pointed to a lower open on Thursday, ahead of a slew of earnings news, with futures for the S&P 500 down 0.04 percent, the Dow Jones industrial average 0.1 percent lower and the Nasdaq 100 futures down 0.2 percent.
Developed and emerging equity markets diverged on Thursday with the latter falling on worries China will take more measures to temper growth after reporting its fastest quarterly growth in two years.
Most Asian stock markets fell on Thursday as investors worried that China would take more measures to temper growth after reporting its fastest quarterly growth in two years.
Charles Schwab Corp , the largest U.S. online brokerage, on Wednesday said it priced an offering of more than 26 million of its shares at $19 a share.
The Dow suffered its worst drop of 2010 on Wednesday as U.S. stocks succumbed to fears that China's curbs on bank lending might jeopardize the global economic recovery, while IBM's outlook sparked caution about the technology sector.
The Dow Jones Industrial Average dropped 122.43 points on Wednesday, losing 1.14 percent to close at 10,603 on fears that the Asian led economic recovery may stall because of government tightening.
Wall Street suffered its worst slide of 2010 on Wednesday as investors worried that lending restrictions in China could hurt the global economic recovery, while a conservative outlook from IBM dented recent optimism about the technology sector.
U.S. stocks were having their worst day of 2010 on Wednesday as lending restrictions in China worried investors about the global economic recovery, while a conservative outlook from IBM weighed down technology shares.
U.S. stocks extended losses on Wednesday as investors pummeled technology shares, sending the Nasdaq down more than 2 percent following IBM's disappointing outlook.
U.S. stocks fell on Wednesday as quarterly results from three big U.S. banks raised concerns about the stability of the sector and analysts questioned IBM's profit forecast.
