As President George W. Bush addresses lawmakers and the American people in his final State of the Union speech tonight, among his goals will be to boost the nation's economy, reauthorize education and anti-terrorism surveillance laws, maintain active support for war in Iraq and diversify the nation's energy supply.
U.S. Stocks moved towards a higher opening on Friday, buoyed by strong earnings from Microsoft and a quick decision to implement a U.S. economic stimulus package boosted investors confidence. Following the biggest global stocks rally in two and a half years on Thursday, U.S. stocks are set to make their first string of three consecutive days of gains since December, and first weekly rise in five weeks.
France stepped up efforts to restore confidence in the banking system as Societe Generale faced tough questions on Friday over why it failed to prevent the biggest financial dealing scandal in history.
The Bombay Stock Exchange (BSE) benchmark 30-share sensitivity index, the Sensex, plummeted by over 2000 points or almost 11 percent on Monday - its biggest ever intra-day fall - and dragged down stock prices of blue-chip companies to a record low, forcing the stock exchange to shut down trading twice abruptly.
Crude Oil dropped on Monday below $89 a barrel as stock markets in Asia and Europe fell on concerns over a global economy slowdown.
Stock markets around the world plummeted on Monday, taking their lead from the U.S., where a leading index fell more than 4 percent last week following increased concern that the U.S. will head for a recession.
World stocks nosedived and demand for safe-haven bonds and currencies soared on Monday as fears gripped investors that a deteriorating U.S. economy would drag others down with it. MSCI's main world stock index, a benchmark gauge of stock markets globally, sank 2.6 percent, falling below its 2007 bottom to lows last seen in December 2006.
World stocks took a beating on Monday and demand for safe-haven bonds and currencies rose as fears gripped investors that a troubled U.S. economy would drag others down with it. MSCI's main world stock index was down 1.9 percent, nearing its 2007 low. The pan-European FTSEurofirst 300 was down 2.4 percent, taking its 2008 year-to-date losses to 12 percent.
Copper futures gained on Friday after inventories dropped and President Bush presented a proposal to stimulate the slowing U.S. economy.
U.S. gold futures ended a volatile week on a slightly higher note, after an emergency tax-relief plan announced by President Bush did not ease investor recession concerns, raising the appeal of the precious metal.
President Bush on Friday proposed a shot in the arm for a slowing but fundamentally strong U.S. economy in the form of a broad-based, temporary economic stimulus package worth up to $150 billion that would provide tax incentives for businesses and tax rebates for individuals.
An economic stimulus package helped boost retail stocks but buyers beware.
Crude oil rose on Friday ahead of President's George W. Bush's economic stimulus package speech at the White House.
A right-wing party quit Israeli Prime Minister Ehud Olmert's government on Wednesday, condemning his peace talks with the Palestinians and leaving him even more politically vulnerable.
Iran, Mideast peace and democracy in the region topped the agenda for President Bush during talks Monday with ally Saudi Arabia. Bush's first visit to the kingdom came as his administration notified Congress of its intent to sell $20 billion in weapons, including precision-guided bombs, to the Saudis. The announcement was timed to coincide with the president's arrival in the Saudi capital.
U.S. President George W. Bush accused Iran on Sunday of threatening security around the world by backing militants and urged his Gulf Arab allies to confront this danger before it is too late.
The world's largest energy consumer laid down ambitious new mandates for alternative fuels
Sending a symbolic message to Israeli and Palestinian leaders, U.S. President George W. Bush visited on Friday the site where Jesus is believed to have intoned blessed are the peacemakers.
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.
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. President George W. Bush's visit to the Middle East this week will evoke widespread hostility in a region where many view him as a war-monger pursuing U.S.-Israeli hegemony, not peace and democracy. In the Arab street, Bush is seen as the man whose invasions of Afghanistan and Iraq to wage war on terrorism brought chaos to the region and more recruits to al Qaeda.
Democrat Barack Obama rocketed to a 10-point lead over Hillary Clinton in New Hampshire one day before their showdown in the state's presidential primary, according to a Reuters/C-SPAN/Zogby poll released on Monday.
