An upbeat outlook from FedEx, coupled with encouraging home sales, lifted U.S. stocks on Monday, keeping the S&P 500 above 1,100 for a second day and suggesting the rally could last.
The man who acquired a solid gold reputation for fixing sticky situations for the U.S. government is facing one of his toughest challenges yet: running BP Plc's $20 billion compensation fund.
The court-appointed examiner investigating Tribune Co's descent into bankruptcy said he has completed his report but cannot make it fully public because various parties are bickering over its contents.
An upbeat outlook from FedEx, coupled with encouraging home sales, lifted U.S. stocks on Monday, keeping the S&P 500 above 1,100 for a second day and suggesting the rally could last.
Google Inc released a special version of its Web-based productivity software designed to meet stringent U.S. government security requirements, as the Internet search giant seeks to outmaneuver rivals in the race to provide federal and state agencies with new technology.
A potential multibillion-dollar judgment against Vivendi SA for misleading shareholders hung in the balance as a Manhattan judge weighed whether a recent U.S. Supreme Court ruling limited damages.
The U.S. Securities and Exchange Commission said Goldman Sachs Group Inc will be allowed to continue to issue securities after settling civil fraud charges earlier this month, according to a letter posted to its website on Monday.
U.S. stocks rose on Monday after an upbeat outlook from FedEx and solid home sales data cheered investors, helping the S&P 500 hold above a key resistance level.
Billionaire Carl Icahn on Monday accused Lions Gate Entertainment Corp of using scorched-earth tactics to thwart his bid to take over the Hollywood studio and pledged legal action to stop it.
The trustee overseeing the liquidation of Bernard Madoff's investment firm might sue about 1,000 victims whom he believes profited improperly from doing business with the now-imprisoned Ponzi schemer.
United Technologies Corp plans to cut about 1,500 jobs over the rest of 2010 and 2011, the diversified U.S. manufacturer said in a filing with the U.S. Securities and Exchange Commission
FedEx Corp raised its outlook on Monday due to a surge in the number of packages flowing through its air and ground networks, boosting its shares and the broader market.
Stocks advanced on Monday after a rosy outlook from FedEx and strong home sales data fueled optimism, helping the S&P 500 stay above a key resistance level that could confirm Wall Street may be back in bullish mode.
Oil prices seesawed near unchanged levels on Monday as stronger-than-expected U.S. home sales data lifted prices even as energy companies restarted production after Tropical Storm Bonnie fizzled.
U.S. crude for September delivery slipped 12 cents to $78.86 a barrel by 12:49 p.m. EDT, having seesawed between $78.06 and $79.33.
Sales of new U.S. single-family homes rebounded strongly in June from the prior month's record low, government data showed on Monday, driving the number of houses on the market to their lowest level in nearly 42 years.
Daily foreign exchange trading turnover in London, Tokyo and New York soared in the latest year, bouncing back sharply from a crisis-induced decline, data released on Monday showed.
Average daily volume in Britain jumped to $1.747 trillion in the year to April 2010, up 31 percent, the Bank of England said. It rose 15 percent compared with volume in October 2009.
FedEx Corp raised its outlook on Monday on strong volume growth, giving a boost both to its own shares and to the broader market as investors acted on hopes that the economy is stronger than they had thought.
Oil rose on Monday after a surge in new U.S. home sales cut the number of houses on the market to the lowest level in more than four decades, easing fears the post-crisis economy could slide into a second recession.
A brighter outlook from FedEx Corp and a pickup in sales of new homes sent U.S. stocks higher on Monday, building on the best three-week period for the S&P 500 Index in a year.
Average daily volume in the over-the-counter U.S. foreign exchange market rose to $754 billion in April, up 11.8 percent from six months earlier, the Federal Reserve Bank of New York said on Monday.
The total was just shy of record turnover of $762 billion seen in the six months to October 2008. The Fed said volume across all instrument types and execution methods and among most currency pairs rose in the latest reporting period.
European banks who only just scraped through a health check could look for over 25 billion euros in new capital, while Spain's smaller lenders set out to reassure investors on Monday that they too can raise funds.
FedEx Corp raised its quarterly and full-year forecasts on Monday, citing strong volume growth, and its shares rose nearly 5 percent.
Sales of new U.S. single-family homes rebounded strongly in June from the prior month's record low, government data showed on Monday, driving the number of houses on the market to their lowest level in nearly 42 years.
The euro edged up against the dollar on Monday but was below early highs as investors speculated European bank stress tests weren't strict enough to support a rally in the euro zone single currency.
Demand for the yen rose as appetite for risk faded, with European shares sliding and U.S. stock futures lower. Still, analysts said euro gains may not wane completely as recent data in the region had been supportive for the currency.
Stocks were set for a higher open on Monday after FedEx Corp raised its earnings outlook and ahead of data on new home sales.
The euro zone interbank funding market reacted calmly on Monday to Europe's bank stress test results, and the absence of nasty surprises will see the European Central Bank continue to withdraw liquidity.
U.S. stock index futures were little changed on Monday ahead of data on new home sales, following the best three-week period on the S&P 500 Index in almost a year.
The euro edged up against the dollar on Monday but came off early highs as investors concluded that although European bank stress tests revealed no horrors they delivered no compelling reason to buy the single currency.
Gold softened on Monday, losing some of its safe-haven appeal after a European banks stress test showed no nasty surprises, but physical buying offered support as levels below $1,200 an ounce attracted bargain hunters.
Financial Crisis Inquiry Commission, a U.S. panel investigating the causes of the financial crises, may bring in outside accountants to scrutinize Goldman Sach's systems for data on its derivatives business, the panel's chairman told the Financial Times.
