FEDERAL RESERVE

Stock markets surged Monday as investors awaited a Federal Reserve meeting, which will take place later this week, when a new stimulus plan may be announced. The gains were also enabled by gains in European markets.

With the U.S. recovery having slowed considerably, and Europe debt woes persisting, investors will look to Fed Chairman Ben Bernanke's Jackson Hole, Wyo. speech later this week to provide clues regarding the central bank's evaluation of the economy, and at what point it thinks additional stimulus would be needed.

Investors tucked into beaten down oil stocks, helping lift Europe's leading shares on Monday after a sharp retreat the previous week, while gold issues drew interest amid lingering worries about global growth.

Hurricane Irene hits Puerto Rico and approaches Florida, rebels take over Libya's capital, charges may be dropped against Dominique Strauss-Kahn and more in Monday's daily scoop.

Miners helped Britain's bruised FTSE 100 stage a recovery on Monday, with Randgold Resources boosted by bullish gold prices and broker comment, and Anglo American up as it considered a bid for Australia's Macarthur Coal.

Gold prices rallied toward $1,900 an ounce on Monday as concerns over the global economic outlook fueled interest in the precious metal as a haven from risk and due to talk that weak U.S. growth could spark a further round of monetary easing.

Brent crude dropped more than $3 on Monday to below $106 a barrel, while U.S. oil fell more than a dollar to below $82, on the potential for a resumption of exports from OPEC-member Libya as a six-month civil war there appeared close to an end.

European stocks extended four weeks of losses on Monday, tracking jittery Asian shares lower, while gold shot to new highs as investors worried about the sluggish U.S. economic outlook and Europe's festering debt crisis.

European stocks looked set to extend four weeks of losses Monday, tracking jittery Asian shares lower, while gold shot to new highs as investors worried about the sluggish U.S. economic outlook and Europe's festering debt crisis.

Brent crude dropped by more than $2 on Monday to around $106 a barrel on the potential for a resumption of exports from OPEC member Libya as a six-month civil war there appeared close to an end.

Asian stocks turned positive on Monday, recovering a small portion of last week's steep losses, while gold shot to new highs as investors worried about the sluggish U.S. economic outlook and Europe's debt crisis.

The U.S. Federal Reserve lent private banks about $1.2 trillion from 2007-2009 in order to maintain credit market liquidity, bank function, and prevent the U.S. economy from plunging in to a depression.

With the global economy sputtering and financial markets on the rocks, the world needs reassurance the U.S. central bank stands ready to save the day.

A hint of QE3 could usher in a very explosive global equity rally.

It goes without saying that a civilization and society as complex as the United States would have its share of myths and misnomers, so let's take a moment to dispel a few.

Presidential hopeful Rick Perry's brash appeal to the Republican Party's fiscally conservative base may fall flat with big donors who favor a more moderate candidate to challenge President Barack Obama in the 2012 election.

From dawn in Tokyo to dusk in New York on Friday, fear lifted gold to a record high -- its fifth such day in a row -- and boosted silver, too, as the world's investors succumbed to the accumulated effect of one emerging danger after another.

Gold rose 1.5 percent on Friday, setting a record high for a second straight day and heading for its biggest one-week gain in 2-1/2 years on worries about stalled U.S. growth and Europe's debt crisis.

The economy is growing so slowly that it will take years to wrench lofty unemployment rates back to normal levels, Cleveland Federal Reserve Bank President Sandra Pianalto said on Friday.

It goes without saying that a civilization and society as complex as the United States would have its share of myths and misnomers, so let's take a moment to dispel a few.

The U.S. Federal Reserve is keeping an eye on European banks struggling with the continent's debt crisis because of the turbulence in financial markets, one of the central bank's most influential policymakers said on Friday.