S&P 500 and Dow futures edged up on Friday as investors digested a historic agreement by U.S. lawmakers to overhaul financial regulations, while final readings on gross domestic product and consumer sentiment were on tap.
The yuan CNY=CFXS ended at 6.7900 against the dollar on Friday, its highest close since its July 2005 revaluation, after the central bank set the daily reference rate at a post-revaluation high in an apparent goodwill gesture ahead of the G20 summit.
China's Ministry of Commerce, a long-standing opponent of a stronger yuan, fell into line on Friday behind the scrapping of the currency's peg to the dollar but said the exchange rate would climb only gradually.
Banks would face stricter limits on risky trading and investing, but could make small investments in private equity and hedge funds under a modified Volcker rule backed by U.S. lawmakers on Thursday.
World leaders aimed for a common target on Thursday of securing the economic recovery, but disagreed over how best to reach it.
Lawmakers were locked in an impasse over derivatives on Thursday as they struggled to finish their historic rewrite of U.S. financial regulations.
Banks would face tougher curbs on trading but would be able to hold limited hedge fund positions under a proposal unveiled by Senate Democrats as they closed in on a final overhaul of financial regulations.
The United States said on Thursday world leaders must work to keep economic growth on track but Europe dug in its heels ahead of a G20 summit, insisting that now was the time to work on cutting costs.
New claims for state jobless benefits fell last week while a closely watched gauge of demand for factory goods rebounded in May, offering assurance the economy's fragile recovery remains intact.
The Supreme Court on Thursday threw into doubt the fraud convictions of former Enron Corp Chief Executive Jeffrey Skilling and ex-media baron Conrad Black, a setback for the U.S. Justice Department in two of the biggest corporate fraud prosecutions of the last decade.
Lawmakers on Thursday agreed to boost banks' capital requirements and neared agreement on a derivatives crackdown as they closed in on a historic overhaul of financial regulations.
Microblogging service Twitter has agreed to a settlement with the U.S. Federal Trade Commission over charges it put its customers privacy at risk by failing to safeguard their personal information.
The United States is urging Syria to open up its markets to U.S. companies' computers and software, but fears over piracy and Internet access restrictions are holding back American technology companies from investing there.
Lawmakers on Thursday agreed to boost banks' capital requirements and neared agreement on a derivatives crackdown as they closed in on a historic overhaul of financial regulations.
The Supreme Court on Thursday set aside some convictions of former Enron Corp Chief Executive Jeffrey Skilling and former media baron Conrad Black, a setback for the U.S. Justice Department in some of its biggest corporate fraud prosecutions of the last decade.
The number of workers filing new applications for unemployment insurance fell slightly more than expected last week, offering hope the fragile economic recovery remained intact.
With the historic overhaul of financial rules nearly complete, lawmakers have waited until the final, frantic hours to sort out the most controversial provisions in the bill.
New claims for jobless benefits fell last week, while orders for long-lasting manufactured goods excluding transportation rose in May, offering hope the fragile economic recovery remained intact.
Stock index futures slipped on Thursday as the Federal Reserve underscored worries the recovery was not as robust as hoped and ahead of weekly initial jobless claims data.
Budget austerity plans will not drag the euro zone economy into stagnation, European Central Bank President Jean-Claude Trichet was quoted on Thursday as saying.
Russian President Dmitry Medvedev was inspired by a tour of Silicon Valley on Wednesday and left determined to replicate the U.S. technology hub at home, despite pessimism that Russia could create a sufficiently open environment to nurture success.
Russian President Dmitry Medvedev sent his first Twitter tweet message on Wednesday, then tried out video conferencing at Cisco Systems Inc as he made a quick tour of U.S. technology hub Silicon Valley, which he sees as a possible model for Russia to follow.
