U.S. health insurers are not worth the long-term investment risk in the wake of the new healthcare reform law, according to brokerage Edward Jones.
The economy is improving but has yet to recover fully, with high unemployment and a weak housing market leaving consumers unsettled, Federal Reserve Chairman Ben Bernanke said on Monday.
The economy is improving but has yet to recover fully, with high unemployment and a weak housing market leaving consumers unsettled, Federal Reserve Chairman Ben Bernanke said on Monday.
(Corrects in fourth paragraph to show U.S. manufacturing moderated to its slowest pace since December, not in a year)
Stocks hit 10-week highs on Monday, sending the S&P 500 above key technical levels as a weak U.S. dollar helped boost energy and raw materials sectors.
Loews Corp posted a better-than-expected 8 percent rise in quarterly net profit, as the hotels and energy conglomerate recorded a gain on investments compared to significant investment losses a year earlier.
Manufacturing growth slowed in July to its weakest rate this year, with measures of new orders and production also slowing.
Goldman Sachs said that it believed its trades with bailed-out insurer AIG during the financial crisis were accurate and its collateral calls made to AIG were reflective of the conditions in a deteriorated market.
The Obama administration intends to quickly put new rules for the financial marketplace into action but won't layer new rules on top of old, U.S. Treasury Secretary assured Wall Street on Monday.
Fears the U.S. recovery is faltering drove the dollar to a three-month low on Monday against a basket of currencies while strong European earnings pushed sterling to a six-month high against the greenback.
MetLife Inc
said it plans to sell more than $3 billion of stock to help pay for its acquisition of the foreign life insurance business of American International Group, or about 50 percent more than it originally expected.More than a million BlackBerry users may have key services in Saudi Arabia and the UAE cut off after authorities stepped up demands on smartphone maker Research In Motion for access to encrypted messages sent over the device.
HSBC <0005.HK> and BNP Paribas , two of Europe's top three banks, trumped earnings forecasts after bad debts fell sharply, more than offsetting slowing investment banking growth and lifting both shares.
Fear that the U.S. recovery is faltering drove the dollar to a three-month low against a basket of currencies on Monday and the euro broke above $1.3125, a key technical level, to hit its highest since May.
Humana Inc posted a 21 percent increase in quarterly profit on Monday, helped by growth in its Medicare plans for seniors, and the health insurer raised its full-year forecast.
Stocks rallied on Monday as strong earnings results and better-than-expected manufacturing data prompted investors to build on last month's run-up.
Gold prices climbed in Europe on Monday as the euro firmed to a three-month high against the dollar and prices of other commodities like crude oil jumped on the back of rising equity markets.
Spot gold rose as high as $1,190.40 an ounce and was bid at $1,185.35 an ounce at 1343 GMT (9:43 a.m. EDT), against $1,181.50 late in New York on Friday. U.S. gold futures for August delivery rose $4.10 to $1,188.00.
The manufacturing sector grew in July for the 12th straight month and at a rate that was slightly better than expected, according to an industry report released on Monday.
Construction spending unexpectedly rose 0.1 percent in June as increased investment in public projects offset the 15th straight monthly decline in private nonresidential construction, a government report showed on Monday.
Finally, electronic trading of gold bars and coins has come to India with National Spot Exchange Limited (NSEL) and Shree Ganesh Jewellery House Limited (SGJHL) launching the scheme in India on Monday.
According to a press note, for the first time, a private organisation will participate in e-selling of imported gold bars and coins. The service started from August 2.
Shares of Coca-Cola Co could rise 10 percent or more in the next year after the company pinpointed North America as a growth market, Barron's business weekly reported on Sunday.
Manufacturing in China shrank in July for the first time since March 2009 while it perked up in the euro zone, according to surveys that underscored the unevenness of the global economic recovery.
Wall Street was poised to open about 1 percent higher on Monday, building on last month's solid gains as investors focused on encouraging corporate results, including strong bank earnings out of Europe.
MetLife Inc lowered its estimate of how much of a boost it will get from acquiring Alico, the foreign life insurance business of AIG, and announced fund-raising plans to help pay for the deal.
Gold prices slipped below $1,180 an ounce in Europe on Monday knocked by a dearth of haven buying as confidence in the financial markets improved, though some emergent physical demand limited losses.
Spot gold was bid at $1,177.65 an ounce at 6:21 a.m. ET, against $1,181.50 late in New York on Friday. U.S. gold futures for August delivery fell $4.00 to $1,179.90.
HSBC and BNP Paribas, strengthened by the financial crisis in their roles as top European banks, both trumped earnings forecasts as bad debts fell sharply to make up for slowing investment banking growth.
A broad fall in the dollar has propelled the yen higher, bringing the Japanese currency within range of levels it has not traded at for 15 years and raising speculation whether even more gains will tempt Japanese authorities to intervene.
Oil hit a 12-week high near $80 a barrel on Monday as robust corporate earnings fueled optimism over the strength of the global economic recovery and the outlook for energy demand.
European stock markets hit a 3-month high as risk appetite across commodity and financial markets picked up following strong results from leading banks HSBC (HSBA.L) BNP Paribas (BNPP.PA).
Stock index futures were sharply higher on Monday, building on last month's solid gains, as investors focused on encouraging corporate results.
The dollar index hit a three-month low on Monday, hurt by worries that the U.S. economy's recovery is losing steam, while the high-yielding Australian dollar reached a three-month high, buoyed by a rise in equities.
