IBT Staff Reporter

Stocks rose on Monday on strong earnings and signs of a strengthening economy, even as a surge in the price of oil highlighted the potential for increased political risk in the Middle East to upset markets.

In a dramatic transfer deadline day, Chelsea finally secured the services of Fernando Torres and David Luiz, while Andy Carroll was the surprise holder of the most expensive English footballer tag after he moved to Liverpool for a whopping £35m.

Gold fell on Monday, notching its first monthly decline in six months, as strong U.S. factory and spending data coupled with fading worries about the euro zone debt crisis put a damper on the metal's rally.

Stocks rose on Monday on strong earnings and signs of a strengthening economic recovery, although a surge in the price of oil highlighted the increased political risk in the Middle East.

The largest U.S. money-market funds reported shadow prices at $1 per share or more on the first day of a new federal reporting requirement, an outcome that analysts said should reassure investors shaken by the ride some funds took during the financial crisis.

IBM wants to dislodge Microsoft's desktop-bound business software by touting an update of its Lotus programs designed to harness the mobility and collaboration possible with cloud computing.

AMB Property Corp struck a deal to buy rival ProLogis for $8.7 billion in stock, combining the two largest U.S. owners of warehouse and distribution centers in one of the biggest real-estate transactions since the financial crisis.

U.S. auto sales lost momentum in the final weeks of January, auto executives and a leading analyst cautioned on Monday, setting the stage for a softer start to 2011 than the industry had expected.

Jackson Hewitt Tax Service Inc sued H&R Block Inc to stop a new advertising campaign that it said misleads customers about tax refund loans and disparages Jackson Hewitt's competence.

Liverpool football club have confirmed the signing of Andy Carroll in a record fee of £35m from Newcastle in a five-and-a-half-year deal, which will keep the England International at Anfield till 2016.

Factory activity in the U.S. Midwest hit a 22-1/2 year high in January as orders surged and employment prospects brightened, providing a fresh signal that the economy would stay on a solid growth path this year.

Stocks rose on Monday on healthy earnings and signs of a strengthening economy, even as a surge in the price of oil highlighted the potential for increased political risk in the Middle East to upset markets.

Florida Governor Rick Scott said on Monday that a federal judge's ruling has confirmed many assumptions about the illegality of last year's landmark healthcare law.

Exxon, IBM, Alcoa lead strong day for U.S. stocks

Reports are emerging that a Google executive has gone missing in Egypt.

LG Electronics <066570.KS> plans to launch a swipe payment system for product and service retailers in Europe next year, which would allow consumers to make payments at the check-out using their smartphones.

Even after being caught kissing Selena Gomez in a Caribbean trip recently, Justin Bieber says she is just one of my best friends.

The U.S. economy is recovering, but the speed of improvement should not be overstated and it is too early to declare victory, a top Federal Reserve policy-maker said on Monday.

Intel Corp found a defect in one of its chips, hurting its credibility during a major product launch and at a time when demand for microprocessors in PCs is being threatened.

The World Trade Organization handed a report to U.S. and EU officials on Monday, which industry sources said found that plane manufacturer Boeing received billions of dollars in unfair subsidies from the U.S. government.

Egypt is becoming a test case for the Internet going dark, with only one of its main service providers operating. But the lack of communications isn't stopping the protests.

Banks were the most optimistic in years as 2011 began that they will not have to write off as many bad business and consumer loans this year, a survey issued by the Federal Reserve showed on Monday.

Exxon Mobil Corp reported a better-than-expected 53 percent increase in quarterly profit, helped by a lower tax rate and a surge in natural gas production in Qatar and the United States.

Google Inc's Android dethroned Nokia's Symbian as the global leader in smartphone software during the last quarter of 2010, ending a reign that began with the birth of the industry a decade ago.

U.S. stocks edged higher on Monday as merger activity and solid earnings, including Exxon Mobil, overshadowed concerns about the possible spread of unrest in Egypt to other parts of the Middle East.

A measure of factory activity in the U.S. Midwest rose to a 22-1/2 year high in January on strong orders and employment prospects, bolstering hopes the economy would stay on a solid growth path this year.

Attributes statement to spokesman on behalf of trade commissioner, paragraphs 5-6

Intel Corp on Monday cut its first quarter revenue forecast by $300 million due to the costs associated with correcting a design flaw it discovered in one of its chips.

Intel Corp cut its first-quarter revenue forecast by $300 million on Monday because of costs associated with correcting a design flaw it discovered in one of its chips.