IBT Staff Reporter

U.S. stocks rose for a second day on Thursday after Federal Reserve Chairman Ben Bernanke pledged to further cut interest rates and on news that Bank of America is reported to buy struggling mortgage lender Countrywide Financial Corp.

The dollar tumbled against the euro, breaching the 1.48-level in the face of sharply divergent comments from each respective central bank’s chief. ECB President Trichet hinted at further tightening on the back of Eurozone economic

Federal Reserve Chairman Ben Bernanke pledged Thursday to cut interest rates this month in a bid to prevent housing and credit problems from plunging the nation's economy into a recession. We stand ready to take substantive additional action as needed to support growth and to provide adequate insurance against downside risks, Bernanke said

Retailers reported weaker than expected December sales results on Thursday, reflecting a 2007 holiday shopping season that is turning out to be one of the weakest in years due to a weakening job market and the ongoing housing slump.

Gold gained in choppy European trade on Thursday as a weaker dollar and bargain hunting lifted the metal closer to record highs.

The willow-thin high school student is one of 34 Chinese girls training to be an Olympic medal presenter at the Beijing Foreign Affairs School (BFAS), one of several state-run colleges charged with producing camera-friendly girls for awards ceremonies.

Those online retirement calculators are handy and dandy. Pop in a few numbers and they tell you whether you're on track for the retirement of your dreams... or, more likely, that there's been a serious derailment.

For Johnny Depp, there are films and there are Tim Burton films. The Hollywood actor has teamed up with director Burton for the sixth time in Sweeney Todd: The Demon Barber of Fleet Street, a blood-spattered adaptation of Stephen Sondheim's musical that has impressed the critics.

The de-glitzing of the Golden Globes has been a blow to everyone from movie marketers to caterers. But could it lift award shows that aren't hit by the Hollywood writers strike?

Citigroup, Inc. and Merrill Lynch & Co., U.S. banks which have seen heavy losses due to bad bets on the mortgage market, are in discussions to get up to $10 billion and $4 billion in capital respectively primarily from foreign governments, according to a report on Wednesday.

From tiny music players that dance as they play tunes to smarter toothbrushes and curvy computer screens, U.S. consumers can count on being wowed by another year of cool digital gadgets in the coming year.

Hillary Clinton's surprise comeback in the presidential race this week sparked national soul-searching. Did women rally out of guilt? Or did a glimpse of tears win the senator a bit of sympathy?

President George W. Bush told Palestinians on Thursday he believed they would sign a peace treaty with Israel within a year that would give them their own state.

U.S. wheat dropped on Wednesday as traders awaited agricultural reports due this week that will update the status of the U.S. and global crop production and stockpiles.

Apple on Wednesday announced its move to reduce prices for music on its U.K. iTunes store so as to match the pricing in other European countries after an inquiry by a European Union on a pricing complaint from a British consumer group.

Comcast Corp on Wednesday denied interfering with file-sharing services and promised to cooperate with the U.S. regulators to settle concerns about how it manages its internet traffic.

Copper Futures fell on Wednesday after a two month high on market has uncertainty over the U.S. economy which may reduce copper demand.

Oil fell on Wednesday after results from the weekly inventory report showed U.S. crude oil supplies fell.

Gold futures end slightly higher on Wednesday after hitting a record breaking high of $894.40 an ounce during morning trading as high oil prices and nervousness about the U.S. economy pushed the precious metal up for the second straight day.

U.S. Stocks seesawed on Wednesday, closing in the green after forecasts of an economic recession drove investors into sectors seen as resistant to the looming economic contraction, such as health care and consumer companies.

Countrywide Financial Corp, the largest U.S. mortgage lender, said on Wednesday that foreclosures and late payments rose in December to the highest on record, sending its shares tumbling for a second day to their lowest in nearly 13 years. Shares fell 11.9 percent in afternoon trading.

The dollar gained versus the euro on Wednesday on lower economic indicators in Germany and comments by St. Louis Federal Reserve President William Poole that it is too soon to tell if housing woes will trigger an economic recession.

British music fans will pay less for downloads from Apple's online iTunes store after Apple Chief Executive Steve Jobs reached a deal with the European Commission.

President Bush, in the Mideast to push along a peace deal by the end of his presidency, gave orders to both sides on Wednesday. He told Israelis that illegal outposts in disputed land must go and told Palestinians that no part of their territories can be a safe haven for terrorists.

Blockbuster Inc Chief Executive James Keyes said on Wednesday he was comfortable the nation's leading DVD rental chain will meet financial targets of its debt agreements in the first quarter and beyond.

The stock market may be the deciding factor in whether the U.S. economy tips into a consumer-driven recession this year.

Led by Democrat Hillary Clinton and Republican John McCain, candidates fanned out across the country on Wednesday in a U.S. presidential race dramatically reshaped by their comeback wins in New Hampshire.

U.S. stocks were mixed on Wednesday after Goldman Sachs Group forecast a recession in 2008 erasing gains from health care and consumer companies. Investors bought defensive stocks including drug makers such as Merck & Co and Pfizer Inc and those of consumer staple companies such as Altria Group Inc parent of cigarette maker Philip Morris.

Oil climbed to nearly $97 a barrel on Wednesday as a larger-than-expected draw in U.S. crude stocks offset worries over a U.S. recession this year.