Sales of previously owned U.S. homes tumbled to a record low in January, reversing the prior month's gains, according to a report on Tuesday that indicated the economy's downward spiral was gathering speed.
Stocks cut gains on Tuesday following cautious comments from Federal Reserve chairman Ben Bernanke on the economy's prospects and a report that showed further deterioration in housing.
Stocks rose on Tuesday as investors snapped shares in beaten-down sectors including financials, materials and healthcare a day after the market hit lows not seen since 1997.
Stocks headed for a higher open on Tuesday as investors bet U.S. Treasury Secretary Timothy Geithner would shed light on plans to shore up the financial system a day after Wall Street hit a 12-year low.
Most securitization markets remain closed and some financial institutions remain under pressure despite advances in some financial markets since September, Federal Reserve Chairman Ben Bernanke told lawmakers on Tuesday.
U.S. companies, consumers and communities may grow so addicted to government financial help that cutting them off could trigger another recession soon after the current one ends.
Stock index futures pointed to a higher open on Tuesday as investors bet U.S. Treasury Secretary Timothy Geithner would shed light on plans to shore up the financial system a day after Wall Street slid to a 12-year low.
Stocks rose on Thursday as news the Obama administration may request more money to shore up banks added to optimism that Washington would not nationalize major banks.
Federal Reserve Chairman Ben Bernanke on Wednesday reinforced the Obama administration's pledge that a bank rescue would not involve seizure of major banks.
Optimism about the banks overshadowed another dose of fresh data that sho...
Just as Wall Street was coming to grips with the notion that bank nationalization might be inevitable, U.S. officials have come out strongly against an idea that strikes at the heart of America's capitalist model.
Stocks headed for a higher open on Thursday as investors searched for beaten-down shares, with financial shares set to rebound following reassuring news from Europe on bolstering the banking sector.
The government released more bleak news on the economy, however, as one report showed the number of U.S. workers continuing to claim jobless benefits notched a fresh record in the second week of Februa...
U.S. banking regulators on Wednesday launched a stress test program to assess the largest banks' ability cope with the possibility of a deeper recession in which the unemployment rate climbs above 10 percent next year.
Stocks fell on Wednesday as investors were hit by a report showing yet more deterioration in the housing market, while uncertainty about Washington's plans to shore up the banking system persisted.
President Barack Obama's first address to Congress offered few new insights on government plans to stabilize the economy and shore up banks.
Investors sold off shares of financial services companies a...
U.S. stocks cut losses on Wednesday after Federal Reserve Chairman Ben Bernanke said in Congressional testimony that regulators do not plan anything like nationalization for Citigroup.
Federal Reserve Chairman Ben Bernanke said on Wednesday that he had an exit strategy from the U.S. central bank's recent massive monetary expansion that will keep inflation under control as the economy recovers.
U.S. stocks cut losses on Wednesday after Federal Reserve Chairman Ben Bernanke said in Congressional testimony that regulators do not plan anything like nationalization for Citigroup .
* Shares of Citigroup rose nearly 3 percent to $2.67. Before Bernanke's comments the stock was down more than 4 percent.
* Weighing on the market was disappointment that a major speech by U.S. Preside...
Stock index futures dipped on Wednesday, as investors pondered whether the market would sustain a run-up seen in the prior session amid persistent concerns about recession and the financial sector.
Late on Tuesday, in his first speech to Congress, U.S. President Barack Obama tried to reassure Americans the country would emerge stronger from the crisis but analysts said he shed little light on how...
Oil rose above $40 a barrel on Wednesday, extending a 4 percent rally in the previous session, lifted by firmer equities before the release of U.S. inventory data expected to show rising supply.
World stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke signaled nationalization of big banks was not at hand. Investors' concern of nationalization had weighed on stocks.
The equit...
Oil held above $40 a barrel on Wednesday after a 4 percent rally in the previous session, as equities gained and investors looked ahead to U.S. inventory data expected to show rising supplies.
Crude's advance on Tuesday stemmed from Wall Street gains sparked by reassuring comments from Fed Chief Ben Bernanke, while President Barack Obama said the United States would emerge stronger from the econ...
Federal Reserve Chairman Ben Bernanke warned on Tuesday the severe U.S. recession could drag into next year, but said banks should be able to weather the downturn without being nationalized, cheering markets.
Oil shed on Wednesday some of the previous session's 4 percent gains but held above $39, after President Obama balanced his message of hope for the U.S. economy with a warning and ahead of data on U.S. oil stocks.
Obama told Congress the United States would emerge stronger from its deepest economic slump in decades but said America faced a day of reckoning for its past excesses.
The preside...
President Barack Obama struck a balance between grim economic reality and a more hopeful outlook on Tuesday to try to reassure worried Americans their country will emerge from crisis stronger than before.
EQUITY FUTURES REGAIN NEARLY ALL OF MONDAY'S LOSSES, AS FED CHAIRMAN CALMS FEARS OF BANK NATIONALIZATION, FOCUS TURNS TO VALUE SHOPPING.
