S&P 500 Closes Above 1,400 On U.S. Optimism: Daily Markets Wrap
Stocks surged Thursday, with the S&P 500 topping the 1,400 mark for the first time in nearly four years, propelled by firm readings on the jobs market and manufacturing activities.
US Consumer Prices Likely Hit 10-Month High In Feb: Preview
The U.S. cost of living probably increased last month on higher gasoline prices, economists said before Friday's CPI report. But the Federal Open Market Committee said earlier this week that the surge in energy prices is temporary and inflation will stay below the Fed's 2 percent target in 2012.
Jobless Claims Tumble Back To 4-Year Low of 351,000
Claims for jobless benefits fell back to a four-year low of 351,000, providing more evidence that the labor market is healing.
Bernanke: Dodd-Frank Shouldn't Burden Community Banks
The Fed chairman said smaller banks are getting stronger despite the slow U.S. recovery, and he assured community bankers that the sweeping financial regulatory overhaul of 2010 is aimed at much bigger players.
U.S. Import, Export Prices Rose in Feb
U.S. import prices rose in February as petroleum surged, a government report showed Wednesday, but underlying imported inflation pressures remain muted.
FOMC Meeting: No QE3 For Now
The Federal Reserve officials decided to keep the near-term interest rates unchanged at ultra-low levels but offered few clues about plans for further easing, as highly anticipated, while the Fed noted recent strength in the labor market and that strains have eased in global financial markets.
Fed FOMC Meeting Policy Statement (FULL-TEXT)
A full-text of the Federal Open Market Committee's statement from March 13 meeting.
Coal’s Share of U.S. Electricity Generation Falls to 35-Year Low
The share of power generation in the U.S. by burning coal has fallen to near a 35-year low, as electric power plants showed less interest in thermal coal due to a mild winter and a shift to cheaper gas.
US Retail Sales Jump 1.1%, Biggest Increase in 5 Months
Sales at U.S. retailers jumped in February by the most in five months, showing broad-based gains from autos to building materials, underscoring yet another hopeful sign of a strengthening economy.
FOMC Preview: Policy Changes Unlikely At March Meeting
The U.S. Federal Reserve's policy-setting Federal Open Market Committee has its monthly meeting Tuesday, but no policy changes are expected, economists at Bank of America Merrill Lynch say.
Japan’s Asahi Kasei to Buy Zoll Medical for $2.2 Billion
Asahi Kasei Corp., a Japanese chemical manufacturer, agreed to acquire Massachusetts-based medical device and software maker Zoll Medical Corp. for about $2.21 billion, as it looks to expand its global presence and develop a leading position in the critical care.
Economic Calendar For The Week Ahead: FOMC, Inflation Reports
The week ahead -- March 12 to March 16 -- will feature the Federal Open Market Committee meeting and three inflation reports for February: import prices, the producer price index (PPI) and the consumer price index (CPI).
LSE Jumps More Than 8% On $614M LCH.Clearnet Deal
Shares of London Stock Exchange Group Plc (LON:LSE) soared more than 8 percent Friday morning, after the namesake bourse operator agreed to buy a majority stake in LCH.Clearnet, one of Europe’s largest clearing houses, for €463 million ($614.6 million).
Jobs Up Solidly In February, Unemployment Remains 8.3%
U.S. employers hired more than 200,000 workers for a third straight month in February, indicating that companies are feeling more upbeat about the recovery.
Wells Fargo To Charge $7 Fee In 6 More States
Wells Fargo & Co., the bank with the most U.S. branches, is ending free checking in six eastern U.S. states starting in May, expanding a $7 monthly service fee for the use of its basic checking account.
China Blocks Airbus Deals Over EU Carbon Tax, Says EADS
China has blocked purchases of Airbus planes by Chinese companies in reaction to a controversial European carbon tax, the CEO of Airbus parent European Aeronautic Defense & Space Co. NV (Paris: EAD) said Thursday.
Jobless Claims Climbed To 362,000; Still Near 4-Year Low
Claims for jobless benefits rose to 362,000, but is still hovering around a 4-year low for the fourth consecutive weeks, underscoring Federal Reserve Chairman Ben Bernanke's view that the U.S. economy has to show stronger growth to ensure that more Americans can find jobs.
Unemployment Rate Likely To Hold At 8.3% In February
Employers probably hired more than 200,000 workers for a third straight month in February, indicating that companies are feeling more upbeat about the U.S. economic recovery, economists said before a report this week.
German Factory Orders Slumped Unexpectedly in January
German factory orders unexpectedly decline in January, mirroring a sharp drop in orders from outside the euro zone, flashing an early warning sign that Europe's largest economy could be heading back into recession.
ADP Jobs Report: U.S. Companies Added 216,000 Workers In February
Companies added 216,000 workers to their payrolls in February, boosted again by a surge in services sector employment, according to data released by ADP on Wednesday.
Stocks Slump on Fears over Greece, Global Growth: Daily Markets Wrap
U.S. stocks finished Tuesday with the worst one-day decline so far in 2012 as a sell-off spread from Europe driven by fear of a disorderly default in Greece and a slowdown in global economic growth.
Recession Looms as Euro Zone Economy Contracts in Q4
The euro area's economy shrank in the fourth quarter, raising fear that the euro bloc may already be sliding back into recession as spending, exports and manufacturing collapsed.
China Growth, Greece Deal Weigh on Stocks: Daily Markets Wrap
U.S. equities sank, mirroring falls across Asia and Europe Monday after China cut its growth target. Worries over whether Greece can entice enough private investors to participate in a bond swap deal also dampened investors' sentiment.
Pension Plans: Are Big US Firms Betting on a Bull Market With New Accounting Step?
A significant but largely unnoticed shift is underway in how big U.S. companies account for pensions on their books. The move to mark-to-market accounting could signal that corporate America is betting on rock-bottom interest rates and continued economic recovery through 2012 and into next year.
China Cuts 2012 GDP Target to 7.5%, an 8-Year-Low
China lowered its economic growth target to an eight-year-low of 7.5 percent from an 8 percent goal in place since 2005, a signal that the country's leaders are determined to scale back the reliance on external demand and foreign capital, in favor of domestic consumption.
Greek Bailout, U.S. Nonfarm Payrolls Highlight Economic Tape Next Week
The week ahead will largely be defined by two major events. First, on Friday, the February U.S. nonfarm payrolls report will be released, providing important data about the economic recovery. Second, also on Friday, euro-zone finance ministers will hold a conference call to decide whether Greece can get its second, €130 billion ($175 billion) bailout.
Retailers Team Up on Mobile Payments: Report
Wal-Mart and Target are among some two dozen retailers that have teamed up to claim a share of the fast-developing business of turning smartphones into virtual wallets.
Starbucks Plans Europe Push via Instant Coffee, New Stores: Report
Starbucks Corp. (Nasdaq: SBUX), the world's biggest coffeehouse chain, plans to grab market share from Switzerland-based food giant Nestle SA in the area of instant coffee and increase the number of Starbucks stores in Germany to more than 1,000 from 150, the Financial Times Deutschland reported Friday.
U.S. Stocks Start March Mildly Higher: Daily Market Wrap
U.S. stocks advanced Thursday buoyed by a strong weekly jobless claims numbers and solid monthly sales from retailers. Meanwhile, European markets were lifted by a well-received Spanish auction and news that Greece is one step closer to winning a €130 billion ($173.15 billion) bailout.
ISM Manufacturing Index Drops Unexpectedly to 52.4% in Feb
Business at U.S. manufacturers expanded at a slower-than-expected pace in February, according to a closely watched survey of the sector released Thursday.
