U.S. stocks rose on Wednesday, boosted by gains in materials and technology shares and after Spain unveiled an austerity plan that further eased jitters over euro-zone sovereign debt woes.
Top oil executives faced a second day of grilling on Wednesday by U.S. lawmakers over a gushing well leak in the Gulf of Mexico as BP scrambled with its latest deep-sea effort to control the huge spill that threatens environmental disaster.
The U.S. trade deficit hit its widest point in more than a year in March, with a jump in imports swamping a rise in exports as the global economy strengthened, a government report showed on Wednesday.
U.S. federal investigators are probing whether Morgan Stanley misled investors about mortgage derivative products it helped create and sometimes bet against, The Wall Street Journal said, citing people familiar with the matter.
Spain became the latest euro zone country to announce sweeping austerity measures on Wednesday as the executive European Commission sought unprecedented power to pre-vet national budgets.
Wall Street was set to open higher on Wednesday as Spain said it would take wide austerity measures, further easing jitters over euro-zone sovereign debt woes.
Ford Motor Co executives at the annual meeting Thursday in Wilmington, Delaware, will have to make the case that the No. 2 U.S. automaker can outperform rivals in a recovering U.S. market as it did during the crushing downturn in auto sales that began in 2008.
The story of how Pennsylvania's capital city Harrisburg has lurched toward the precipice of financial ruin is a cuckoo tale involving one man's vision of creating a hub for museum lovers, a possible FBI investigation, and a $45,000 tomahawk that may or may not have been owned by Chief Crazy Horse.
U.S. stock index futures rose on Wednesday as Spain said it would take wide austerity measures, further easing jitters over euro-zone sovereign debt woes.
U.S. stock index futures rose modestly on Wednesday as Spain said it would make wide austerity measures, further easing jitters over euro-zone sovereign debt woes.
Global woes and the uncertainty over the future have forced investors to go for bullion and the prospects for silver is extremely good in the coming years, said metal consultants CPM Group.
After the initial surprise and shock generated by the Euro rescue mission worth $1 trillion, the ominous economic woes loomed large over the global markets and as a result the safe haven quotient of gold soared again and the yellow metals again started its upward journey with the prices jumping above $1,200 per ounce levels. Mostly the gold futures market across the globe witnessed the surge as investors were skeptical about the IMF-EU-sponsored bailout package for the Euro zone.
U.S. stock index futures pointed to a higher start for Wall Street on Wednesday, on track to reverse the previous session's losses, with futures for the Dow Jones, S&P 500 and Nasdaq all up around 0.2 percent by 04:40 a.m. EST.
Federal Reserve Chairman Ben Bernanke on Tuesday described the Greek debt crisis to lawmakers as a European dilemma but one that could have hit U.S. banks if left unattended, senior senators said.
Global oil prices dropped below $76 a barrel in Asian trade Wednesday mainly on declining market enthusiasm over a huge Eurozone rescue package. Light sweet crude for June delivery was seen trading at $75.84 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 80.34 a barrel at the same time in London.
Gold prices eased in Asian trade Wednesday after closed near to all time high overnight. Gold for immediate delivery was seen trading at $1227.58 an ounce at 11.30 a.m Singapore time from Tuesday's close of $1232.05 an ounce.
European shares jumped more than 1 percent and the euro strengthened on Wednesday on signs of continued German growth and Spain's plans to cut its deficit.
Morgan Stanley Chief Executive James Gorman said he had no knowledge of any U.S. federal investigation into the Wall Street firm as was reported by media.
The euro slipped on Wednesday on nagging worries about festering euro zone debt problems despite a $1 trillion rescue package unveiled this week, which fueled a short-lived rally in global stocks.
Global oil prices dropped below $76 a barrel in Asian trade Wednesday mainly on declining market enthusiasm over a huge Eurozone rescue package. Light sweet crude for June delivery was seen trading at $75.84 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 80.34 a barrel at the same time in London.
A special board committee of American International Group Inc has hired its own financial adviser, a sign the insurance company is setting plans to repay taxpayers, the Wall Street Journal reported on Tuesday.
Countries within the euro zone should implement a new system of cross-border budgetary co-ordination, the managing director of the International Monetary Fund told the Financial Times in an interview.
Japan's Ministry of Finance intends to take advantage of the current low government bond yields to prolong the average maturity of its debt to reduce refunding risks, a senior ministry official said on Wednesday.
Gold is setting its price at historic records even as European nations led by Greece are in the grip of a huge debt crisis. On Tuesday, gold futures on Comex surged to hit a record high of $1,232.50 an ounce. This is the first time in the history of bullion trading that gold has zoomed to touch this level.
The top securities regulator said no single event had been found to explain Thursday's mysterious market plunge, but the shocking drop was unacceptable and additional safeguards were coming.
The Australian Dollar has opened weaker this morning following a raft of news releases overnight across the globe.
The Senate on Tuesday challenged the Federal Reserve's tradition of secrecy but postponed an overhaul of mortgage finance giants Fannie Mae and Freddie Mac under a massive reform of banking regulations.
Microsoft Corp launches an updated version of its Office software on Wednesday, aiming to keep its grip on the hugely profitable business application market while countering the challenge of free online alternatives from Google Inc.
The largest U.S. banks would have to come up with plans for regulators to dismantle them in times of severe distress, under a new rule proposed by the Federal Deposit Insurance Corp on Tuesday.
Fat finger has company.The initial theory that an errant trader caused Thursday's mysterious stock market plunge isn't the only dubious hypothesis making the rounds.
