Reuters – The S&P 500 hit a 17-month closing high as rising bank shares led a late rally that lifted stocks on Thursday, more than offsetting worries China may move to cool its overheating economy.
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AP – Asian stock markets were mixed in early trading Friday after the Standard & Poor’s 500 index closed at a 17-month high with investors worried about inflationary pressures in China.
AP – A Toyota executive said Thursday the company is “mystified” by a report that a California man’s Prius gas pedal became stuck and caused the car to speed out of control on a California freeway.
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AP – The government’s top securities regulator called Thursday for Congress to impose new oversight on financial derivatives, warning that allowing risky instruments like credit default swaps to continue unfettered could bring further economic damage.
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AP – BULLISH OUTLOOK: Citigroup Inc. says its returning to “sustained profitability” after losing billions on bad loans and taking a federal bailout. CEO Vikram Pandit says the bank is shedding risky mortgage assets and shifting focus to emerging markets like Latin America and Asia.
AP – Americans are recovering their shrunken wealth — gradually. Household net worth rose last quarter, mainly because the healing economy boosted stock portfolios. But the gain was slight. And it was less than in the previous two quarters.
AP – President Barack Obama sought Thursday to put some detail behind his lofty drive to double U.S. exports over the next five years, calling the effort imperative to putting people back to work. But doubts remain about how many net jobs his trade agenda will create — and how he will get it done.
AP – President Barack Obama sought Thursday to put some detail behind his lofty drive to double U.S. exports over the next five years, calling the effort imperative to putting people back to work. But doubts remain about how many net jobs his trade agenda will create — and how he will get it done.
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AP – Americans regained more of their shrunken wealth last quarter, mainly because the healing economy boosted stock portfolios. But the gain was less than in the previous two quarters.
AP – A federal regulator says Wall Street banks are seeking exemptions to proposed new rules for financial derivatives that could shield more than half the trades in the complex instruments that should be subject to disclosure.
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