Stocks rise; Mattel, Coke among earnings winners
2012-07-17 22:26:07 UTC
NEW YORK (AP) — Stronger earnings from Mattel, Coca-Cola and other big companies lifted the Standard & Poor's 500 index on Tuesday for only the fourth day this month.
Mattel jumped 9 percent, more than any other company in the S&P. The country's biggest toy maker said net income rose because o...
Cheaper gas keeps US consumer prices flat
2012-07-17 22:23:45 UTC
WASHINGTON (AP) — Consumer prices were unchanged in June, held down by cheaper gas. Outside the volatile food and energy categories, inflation was mild.
Weak economic growth is limiting the ability of companies to raise prices. The tame inflation was underscored by a 0.2 percent drop in consum...
US economy appears weaker as retail sales slump
2012-07-16 21:16:07 UTC
WASHINGTON (AP) — The outlook for the U.S. economy appeared dimmer Monday after a report that Americans spent less at retail businesses for a third straight month in June.
The report led some economists to downgrade their estimates for economic growth in the April-June quarter. Many now think ...
Stocks close lower after consumer spending slides
2012-07-16 21:07:55 UTC
NEW YORK (AP) — Stocks closed lower for the seventh day out of the last eight on Monday after the government reported that U.S. consumers cut their spending last month.
The news pushed stocks down from the start of the trading day. Though they recovered a bit around midday, all three major ind...
Asia stocks muted after China cautions on economy
2012-07-16 02:57:16 UTC
BANGKOK (AP) — Asian stock markets are mixed after China's premier said weakness in the world's second-biggest economy is not yet over.
The weekend comments from Wen Jiabao came after China on Friday reported that quarterly economic growth slipped to a three year low.
Hong Kong's Hang Seng ...
Fewer auto closings reduce US unemployment claims
2012-07-12 22:29:50 UTC
WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits plunged last week. But a big reason is that automakers have skipped some of their usual summer shutdowns to keep up with demand, causing fewer temporary auto layoffs.
Economists expect the number of Americans seeking une...
More US homes facing foreclosure risk in June
2012-07-12 05:39:45 UTC
LOS ANGELES (AP) — Banks are increasingly placing homes with unpaid mortgages on a countdown that could deliver a swell of new foreclosed properties onto the market by early next year, potentially weighing further on home values.
June provided the latest evidence of this trend, as the number o...
Asian stocks fall as outlook for earnings dims
2012-07-11 06:11:03 UTC
SINGAPORE (AP) — Asian stock markets fell Wednesday as the global economic slowdown threatens to reduce corporate profits.
Companies start reporting second-quarter results this week and investors were dismayed when chip maker Advanced Micro Devices said Tuesday that weaker sales in China and E...
Oil prices bounce back near $86
2012-07-11 19:59:32 UTC
NEW YORK (AP) — The price of oil rose more than 2 percent Wednesday after the Federal Reserve released a report that signaled it may take further steps to lift the economy.
China also reported strong auto sales for last month, and the U.S. said crude supplies declined last week by a much large...
Stocks slide ahead of corporate earnings season
2012-07-10 00:08:16 UTC
NEW YORK (AP) — Edgy investors sent stocks lower Monday on Wall Street ahead of U.S. corporate earnings reports and amid more signs of instability in Europe.
The Dow Jones industrial average closed down 36.18 points at 12,736.29. It was the Dow's third straight day of declines.
European stocks down as US report dims outlook
2012-07-09 11:26:26 UTC
MOSCOW (AP) — European stock markets had a weak start on Monday after a disappointing U.S. jobs report at the end of last week dimmed the outlook for the world's largest economy.
Britain's FTSE 100 shed 0.5 percent in morning trading to 5,634.31. France's CAC-40 dropped 0.6 percent at 3,148.22...
US stocks drop after weak June jobs report
2012-07-06 15:37:47 UTC
NEW YORK (AP) — Stocks retreated on Wall Street Friday after the U.S. government reported that only 80,000 jobs were created in June, the third straight month of weak hiring.
The Dow Jones industrial average dropped 157 points to 12,739 a half-hour before noon on Friday. The loss wiped out the...
Manchester United files for IPO in US
2012-07-04 08:58:53 UTC
NEW YORK (AP) — Manchester United plans to go public. In the United States, to boot.
The record 19-time English champions filed a registration statement with the Securities and Exchange Commission on Tuesday to hold an initial public offering of stock and become a listed company on the New Yor...
Oil prices at highest since May on Iran concerns
2012-07-03 18:31:20 UTC
NEW YORK (AP) — The price of oil jumped more than 4 percent Tuesday to the highest level since May on renewed fears of a military conflict with Iran.
Iran is again threatening to block a critical Persian Gulf shipping route in response to a European embargo of Iranian oil. The country has spar...
Eurozone unemployment hits new record in May
2012-07-02 10:05:58 UTC
BRUSSELS (AP) — Unemployment in the 17 country euro currency bloc hit another record in May as the continent continued to be buffeted by its debt crisis, official figures showed Monday.
Eurostat, the EU's statistics office, said unemployment rose to 11.1 percent in May from 11 percent the prev...
Oil falls below $84 amid waning EU euphoria
2012-07-02 05:53:32 UTC
SINGAPORE (AP) — Oil fell below $84 a barrel Monday in Asia amid waning euphoria over the latest EU plans to tackle the continent's debt and economic woes. Signs of a slowing Chinese economy also dragged crude down.
Benchmark oil for August delivery was down $1.17 at $83.79 a barrel at midday ...
Stocks rally as Europe unveils debt crisis plans
2012-06-29 16:36:19 UTC
The Dow Jones industrial average jumped more than 200 points, joining a surge in global markets, after European leaders agreed to easier bank bailouts and regional oversight for their troubled financial sector.
Leaders in Brussels unveiled a plan to funnel money to banks directly from a region...
Stocks rise on stronger US housing, factory data
2012-06-27 15:51:39 UTC
U.S. stocks are trading solidly higher at midday after a two pieces of good news about the U.S. economy.
The National Association of Realtors said Wednesday that Americans signed more contracts to buy previously occupied homes in May. It was the latest sign of the housing market's slow recover...
Asia stocks down after Spain asks for bank bailout
2012-06-26 06:20:50 UTC
BANGKOK (AP) — Asian stock markets fell Tuesday, a day after Spain formally requested help to rescue its ailing banks and investors lost hope that an upcoming summit of European leaders would yield meaningful results.
Investors already worried about an economic slowdown in the U.S. and China w...
Oil falls to below $79 amid EU summit doubts
2012-06-26 06:12:24 UTC
SINGAPORE (AP) — Oil fell slightly to below $79 a barrel Tuesday in Asia, taking its cue from weak global stock markets as hopes fade an EU summit will fix Europe's debt and economic problems.
Benchmark oil for August delivery was down 30 cents at $78.91 a barrel in electronic trading on the N...
US new-home sales rose at fastest pace in 2 years
2012-06-25 20:47:19 UTC
WASHINGTON (AP) — Americans bought new homes in May at the fastest pace in more than two years. The increase suggests a modest recovery is continuing in the U.S. housing market, despite weaker job growth.
The Commerce Department said Monday that sales of new homes increased 7.6 percent in May ...
Stocks head lower as Spain seeks help for banks
2012-06-25 20:43:15 UTC
NEW YORK (AP) — Europe's latest efforts to quell its financial crisis left investors exasperated, causing steep losses in stock markets on both sides of the Atlantic.
The Dow Jones industrial average dropped 138 points to close Monday at 12,503. That's a loss of 1.1 percent. The Standard & Poo...
Survey: US gas prices drop 15 cents over 2 weeks
2012-06-24 20:04:49 UTC
CAMARILLO, Calif. (AP) — The average U.S. price of a gallon of gasoline has dropped 15 cents over the past two weeks.
That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.48.
Midgrade costs an average of $3.65 a gallon, a...
Oil near $78 amid global economic growth worries
2012-06-22 16:21:55 UTC
Oil prices made small gains above $78 a barrel Friday but remained near eight-month lows after signs of slowing global economic growth triggered a sharp plunge this week.
By early afternoon in Europe, benchmark oil for August delivery was up 33 cents at $78.53 a barrel in electronic trading on...
US stocks bounce back, with banks leading the way
2012-06-22 16:05:27 UTC
NEW YORK (AP) — Banks are leading the stock market up in midday trading, a day after stocks had their second-worst loss of the year.
JPMorgan Chase and Bank of America are among the top stocks in the Dow Jones industrial average Friday. The gains come even after Moody's cut their credit rating...