Stocks plunge after weak manufacturing reports
2012-06-21 19:55:37 UTC
NEW YORK (AP) — A quiet start on Wall Street quickly turned into a rout Thursday as the bad news piled up.
Commodity prices slumped in early trading after a report said manufacturing in China fell this month. Then, around 10 a.m., the Philadelphia branch of the Federal Reserve reported a sharp...
US stocks meander as European debt crisis festers
2012-06-18 20:31:59 UTC
Crisis-weary investors scoffed Monday at what had appeared to be a hopeful turn in the European debt crisis: a victory for pro-Europe parties in a Greek election. U.S. stocks were little changed, and borrowing costs for Spain surged to alarming levels.
Investors appeared fed up with policy mak...
Oil climbs on hope for Fed move; natural gas soars
2012-06-15 08:29:28 UTC
Hopes that the Federal Reserve will do more to support the U.S. economy drove oil to its biggest gain in two months on Thursday. Meanwhile, natural gas rose the most since January 2010 on signs of increased use of the fuel by utilities.
Speculation that the Fed will announce new steps to boost...
Asia stocks rise amid hopes for central bank help
2012-06-15 07:20:42 UTC
BANGKOK (AP) — Asian stock markets rose Friday as investors waded back into riskier assets amid hopes that central banks in the U.S. and elsewhere were gearing up for action to help their beleaguered economies.
Jobs data out of the U.S. Thursday led investors to speculate that the U.S. Federal...
US unemployment aid applications rise to 386K
2012-06-14 16:50:42 UTC
WASHINGTON (AP) — More Americans sought unemployment aid last week, suggesting hiring remains sluggish.
The Labor Department said Thursday that weekly unemployment benefit applications rose 6,000 to a seasonally adjusted 386,000, an increase from an upwardly revised 380,000 the previous week.
Lower gas prices not enough to lift US economy
2012-06-13 19:32:07 UTC
WASHINGTON (AP) — Cheaper gas has yet to cause consumers to spend enough on other goods to boost the slumping economy.
Americans barely increased their spending at retail businesses this spring, leading economists to predict slower economic growth in the April-June quarter.
But the news fro...
US retail sales dropped 0.2 percent in May
2012-06-13 17:43:48 UTC
WASHINGTON (AP) — Americans barely increased their spending at retail businesses in April and May, constrained by weak job creation and paltry wage increases.
A sharp drop in gas prices pulled down overall sales in both months by 0.2 percent, the Commerce Department said Wednesday.
Stocks slip on Wall Street as Italy's rates soar
2012-06-13 17:38:57 UTC
NEW YORK (AP) — U.S stocks struggled for direction Wednesday, with the debt maelstrom in Europe as an ominous backdrop.
The major stock indexes opened lower, then briefly turned positive. Shortly before noon, the Dow Jones industrial average and the Standard & Poor's 500 were down, while the N...
UnitedHealth plans to keep overhaul elements
2012-06-12 06:19:05 UTC
Insurer UnitedHealth Group Inc. sees some parts of the health care overhaul as sound medicine and plans to keep them even if the law fails to survive an upcoming Supreme Court ruling.
The nation's largest health insurer said Monday that it will still cover preventive care like immunizations wi...
Asia stocks fall as Spain, Italy worry investors
2012-06-12 05:46:43 UTC
BANGKOK (AP) — Asian stock markets slid Tuesday as enthusiasm for a European plan to rescue Spain's teetering banks turned to skepticism.
An offer by the 17 countries that use the euro to loan Spain up to €100 billion ($125 billion) to revive banks crushed by bad real estate loans was initiall...
Asia stocks, euro rise as Spain banks get lifeline
2012-06-11 07:59:52 UTC
BANGKOK (AP) — Asian stocks and the euro climbed Monday after Spain sought a lifeline for its ailing banks, easing fears that Europe's debt crisis was about to spin out of control.
Spain on Saturday asked finance ministers from the 17 countries that use the euro to rescue its banks, which have...
China's exports jump 15.3 percent in May
2012-06-11 06:44:01 UTC
BEIJING (AP) — China's exports jumped in May from a year earlier, the government said, although the increase is unlikely to be enough to ease pressure on the country's leaders to reverse a sharp economic slump.
Export growth climbed a robust 15.3 percent compared to May 2011, up from April's 4...
Oil above $86 as Spain gets funds to rescue banks
2012-06-11 06:25:08 UTC
SINGAPORE (AP) — Oil jumped above $86 a barrel Monday in Asia after Europe offered Spain a $125 billion rescue loan for its troubled banks.
Benchmark oil for July delivery was up $2.00 to $86.10 per barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The ...
Stocks inch higher as investors await Europe news
2012-06-05 23:51:40 UTC
NEW YORK (AP) — As world leaders searched for a way out of Europe's mounting debt crisis, U.S. investors moved to the sidelines.
The major market indexes closed modestly higher, after wavering between slight gains and losses throughout the morning. Trading volume was light and the stock moves ...
Key ECB steps to combat Europe's debt crisis
2012-06-05 19:01:32 UTC
Here are some of the key steps the European Central Bank has taken to try to stem Europe's crisis over too much debt in some countries.
CHEAP LOANS TO BANKS: The ECB announced late last year that it would make unlimited loans for a record three years available to the 7,500 banks in the eurozon...
US factory orders fell 0.6 percent in April
2012-06-04 16:43:36 UTC
WASHINGTON (AP) — Companies placed fewer orders to U.S. factories for the second straight month and a key measure that tracks business investment plans fell, adding to evidence that the economy is weakening.
The Commerce Department said Monday that orders for factory goods fell 0.6 percent in ...
US economy appears weaker ahead of jobs report
2012-05-31 21:36:17 UTC
WASHINGTON (AP) — The U.S. economy is looking slightly weaker one day before a critical report on May job growth.
Economic growth was a little slower in the first three months of the year than first estimated, largely because governments and consumers spent less and businesses restocked their ...
Will shoppers' increased spending in May last?
2012-05-31 21:27:54 UTC
NEW YORK (AP) — Americans loosened their purse strings in May, but it may have been a temporary splurge.
Some major retailers such as Target and Macy's on Thursday posted sales increases that beat Wall Street estimates as shoppers were lured in by Mother's Day promotions and colorful new style...
Oil headed for biggest drop since 2008
2012-05-30 17:34:57 UTC
NEW YORK (AP) — The price of oil is headed for its biggest monthly decline since December 2008.
Benchmark U.S. crude has dropped nearly 16 percent so far in May on growing expectations that world won't use as much as previously thought this year. The futures contract fell $2.93, or 3.2 percent...
Facebook stock climbs, still down from IPO
2012-05-30 17:28:37 UTC
NEW YORK (AP) — Facebook's stock is getting some relief, inching higher following a steep decline in the wake of its initial public offering.
Shares of Facebook Inc. are up 43 cents to $29.27 in morning trading on Wednesday. That's still down about 23 percent from its IPO price of $38. Faceboo...
Stocks plummet as outlook in Europe dims
2012-05-30 17:12:02 UTC
Traders fearful of a rupture in Europe's financial system retreated Wednesday from risky investments. They punished stocks and fled to the safety of U.S. bonds, pushing the yield on the benchmark 10-year Treasury note to a record low.
Major U.S. stock indexes fell more than 1 percent. European...
Consumer confidence in the economy plunged in May
2012-05-29 18:17:01 UTC
NEW YORK (AP) — Here we go again.
Americans confidence in the economy suffered the biggest drop in eight months as worries about the weak jobs, housing and stock markets rattled them again. The decline comes after a few months of optimism amid some positive economic news.
The Conference Boa...
Oil holds near 2012 low
2012-05-25 21:45:32 UTC
NEW YORK (AP) — The price of oil held near the lowest levels of the year on a quiet Friday ahead of the holiday weekend.
Benchmark U.S. crude on Friday added 20 cents to finish the week at $90.86 per barrel in New York while Brent crude rose by 28 cents to end at $106.83 per barrel in London.
Stocks fall on Wall Street as Spanish bank teeters
2012-05-25 21:39:29 UTC
NEW YORK (AP) — Another flare-up in Europe's debt crisis knocked U.S. markets lower Friday. This time, it was more trouble at a major Spanish bank.
Stock indexes were waffling between small gains and losses until news broke in the afternoon that Bankia, a hobbled Spanish lender, asked that cou...
Weekly US jobless aid applications dip to 370,000
2012-05-24 20:51:37 UTC
WASHINGTON (AP) — The number of people seeking unemployment benefits changed little last week, signaling modest job growth.
The Labor Department said Thursday that weekly applications for benefits dipped by 2,000 to a seasonally adjusted 370,000.
Applications have leveled off this month aft...