Markets are roiled by prospect of early Fed exit
2013-06-20 21:00:14 UTC
NEW YORK (AP) — There was no let-up in the flight from stocks and bonds as traders reacted to news that the Federal Reserve could end its massive bond-buying program as next year and as China's manufacturing slowed.
The Dow Jones industrial average plunged 353 points, or 2.3 percent, to 14,758...
Stocks slide as Fed says bond purchases could slow
2013-06-20 08:55:19 UTC
NEW YORK (AP) — Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge economic stimulus program later this year and end it by the middle of next.
The sharp reaction in markets, especially in the 10-year Treasury note, showed just how much inv...
Disappointing reports help push US stocks down
2013-06-14 22:06:51 UTC
NEW YORK (AP) — Disappointing reports about the U.S. economy helped push the stock market lower on Friday.
Concerns that the Federal Reserve could announce plans to cut back its stimulus program next week also weighed on the mood.
Americans' confidence in the economy weakened in June and wa...
Oil price highest since January on Syria concerns
2013-06-14 22:05:07 UTC
NEW YORK (AP) — Oil rose to the highest level since January amid concerns about a possible escalation in Syria's civil war.
Benchmark oil for July delivery rose $1.16 to close at $97.85 a barrel on the New York Mercantile Exchange. Oil finished the week with a gain of $1.82 a barrel, or 1.9 pe...
Asia stocks fall ahead of US jobs report
2013-06-07 05:31:32 UTC
BANGKOK (AP) — Asian stock markets fell Friday, ignoring a rebound on Wall Street, as investors stayed on the sidelines ahead of a key U.S. jobs report later in the day.
Investors were also registering disappointment with the European Central Bank after it failed to fulfill hopes for a dramati...
Obama: Economy showing signs of strength
2013-06-01 16:35:02 UTC
WASHINGTON (AP) — President Barack Obama says the economy is showing new signs of strength. He's pointing to the auto industry, new jobs and a recovering housing market as signs of progress.
In his weekly radio and Internet address, Obama calls on Congress to do more to ensure that progress ...
Stocks fall; Dow average pulls back from a record
2013-05-29 17:28:16 UTC
NEW YORK (AP) — Stocks fell on Wall Street Wednesday as investors assessed whether a rally that has pushed stocks to record levels this year has run its course.
The Dow Jones industrial average reversed all of its gain from Tuesday, when it closed at a record high. The index is still o...
EU eases pace of austerity to help economy
2013-05-29 17:22:48 UTC
BRUSSELS (AP) — The European Union softened its demands for austerity Wednesday when it gave France, Spain and four other member states more time to bring their deficit levels under control so that they can support their ailing economies.
The EU Commission, the 27-nation bloc's executive a...
OECD: Europe remains threat to world economy
2013-05-29 16:44:15 UTC
PARIS (AP) — The recession in Europe risks threatening the world's economic recovery, a leading international body warned Wednesday.
In its half-yearly update, the Organization for Economic Cooperation and Development said that protracted economic weakness in Europe "could evolve into st...
US consumer confidence rises in May to 5-year high
2013-05-28 16:17:30 UTC
WASHINGTON (AP) — Americans' confidence in the economy jumped in May to a five-year high, lifted by a better outlook for hiring, rising home prices and more optimism about business conditions. The increase suggests consumers may keep boosting economic growth this year.
The Conference B...
Oil falls below $94 a barrel
2013-05-27 05:41:37 UTC
BANGKOK (AP) — The price of oil fell Monday as traders concerned about global energy demand took profits ahead of economic data from China and the United States.
Benchmark oil for July delivery was down 58 cents to $93.67 per barrel at midday Bangkok time in electronic trading on the N...
Stocks open lower, market headed for a weekly loss
2013-05-24 16:16:44 UTC
NEW YORK (AP) — Stocks are opening lower on Wall Street, putting the market on track for its first weekly loss after four weeks of gains.
The Dow Jones industrial average was down 42 points at 15,251 shortly after the opening bell Friday, a loss of 0.3 percent.
The Standard & Poor's 500 i...
Stock indexes flip between gains and losses
2013-05-21 17:30:33 UTC
NEW YORK (AP) — Stock indexes fluctuated in midday trading Tuesday as investors tried to predict the Fed's next move.
The Dow Jones industrial average rose 32 points to 15,366 shortly before 12 Eastern time.
The Standard & Poor's 500 index edged up one point to 1,668. The Nasdaq composite...
Stocks mixed as retail sales unexpectedly rise
2013-05-13 17:32:03 UTC
NEW YORK (AP) — A record-breaking rally in stocks stalled Monday as investors assessed whether stock valuations were overstating the improvement in the economy.
Stocks started the day lower even after the government reported that Americans increased spending at retailers last...
Stocks dip below record levels on Wall Street
2013-05-09 18:57:45 UTC
NEW YORK (AP) — The stock market pulled back early Thursday after surging to record levels during the past week as investors judged that recent gains already reflect much of the improvement in the economy.
Even a decline in the number of Americans applying for unemployment bene...
Stocks are little changed after record week
2013-05-06 17:24:56 UTC
NEW YORK (AP) — The stock market got off to a quiet start on Monday, following a record-setting week.
No major economic reports came out Monday, but a few companies reported earnings. Tyson Foods, the nation's largest meat-processing company, fell 4 percent, the biggest drop in the Sta...
Stocks surge in early trading after hiring climbs
2013-05-03 17:09:00 UTC
NEW YORK (AP) — A big gain in the job market is lifting the stock market to a record high.
The Dow Jones industrial average crossed 15,000 for the first time early Friday, and the Standard and Poor's 500 index, a broader market measure, rose above 1,600.
"We're breaking through psyc...
Stocks gain on earnings; fake tweet rattles market
2013-04-23 21:31:10 UTC
NEW YORK (AP) — The stock market climbed Tuesday following strong earnings across a range of U.S. industries.
Coach, Lockheed Martin, DuPont and Travelers all rose after they reported results that were better than analysts expected.
Markets swooned briefly, then quickly recovered, shortly a...
Toyota, Honda, Nissan announce air bag recall
2013-04-11 06:53:09 UTC
TOKYO (AP) — Toyota, Honda and Nissan are recalling more than 2 million vehicles globally for an identical problem with air bags on the passenger side whose inflator may burst, sending plastic pieces flying.
No injuries have been reported related to the problem.
The recall for air bags ...
Asia stocks fall on slack US jobs data; Nikkei up
2013-04-08 04:35:33 UTC
BANGKOK (AP) — Asian stock markets were mostly lower Monday after a disappointing U.S. jobs report, although the Nikkei piled on more gains as the yen's dramatic fall boosted the country's powerhouse export sector.
The Japanese yen has weakened sharply in the aftermath of a su...
Asia stock markets fall on weak US economic data
2013-04-04 05:43:28 UTC
BANGKOK (AP) — Weak economic reports on hiring and service industry growth in the U.S. sent Asian stock markets lower Thursday.
The Institute for Supply Management said that its index of non-manufacturing activity grew at a slower rate in March, reaching its lowest level in seven mont...
US rate on 30-year mortgage declines to 3.54 pct.
2013-03-21 17:23:43 UTC
WASHINGTON (AP) — Average U.S. rates on fixed mortgages fell this week and remained near historic lows, a trend that has supported a recovery in housing.
Freddie Mac said Thursday that the average rate for the 30-year loan fell to 3.54 percent from 3.63 percent last week. Tha...
Asia stocks rise after US Fed stays the course
2013-03-21 04:34:34 UTC
BANGKOK (AP) — Asian stock markets rose Thursday, signaling approval of the U.S. central bank's message that it will keep interest rates at record lows despite recent signs of improvement in the world's biggest economy.
Federal Reserve Chairman Ben Bernanke said at the end of a ...
Asia stocks mixed after Cyprus vote on bailout
2013-03-20 06:28:01 UTC
BANGKOK (AP) — Asian stock markets were mixed Wednesday after Cypriot lawmakers rejected a tax on bank deposits that would have partly funded an emergency bailout to save the Mediterranean country from financial collapse.
The vote in the Cyprus parliament Tuesday rejected a plan cobbled togeth...
Cypriot deposits grab shocks savers across Europe
2013-03-18 17:10:02 UTC
NICOSIA, Cyprus (AP) — A plan to seize up to 10 percent of people's savings in the small Mediterranean island nation of Cyprus sent shockwaves across Europe on Monday as households realized the money they have in the bank may not be safe.
A weekend agreement between Cyprus ...