Showing posts from May, 2012

Stocks and markets in the News | Wall Street at Close: U.S. stock indexes drop 6%-plus in May

By Kate Gibson , MarketWatch  NEW YORK (MarketWatch) — U.S. stocks on Thursday closed one of the worst months in years, with the Dow halting a seven-month win streak after disappointing data tempered expectations for the May jobs report. “It’s the summer months, unfortunately, so that’s one strike. Everyone is out hunting for black swans and finding them. It’s a strange environment where investors just don’t trust the market at all, so the question is how cheap do stocks have to get before they can entice investors again,” said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.  The Dow Jones Industrial Average DJIA -0.21%  fell 26.41 points, or 0.2%, at 12,393.45, off 6.2% from the end of April, and its worst month in two years.  The S&P 500 Index

NYT Afternoon Business News: Central Banker Says Euro Zone Structure Is 'Unsustainable'

Central Banker Says Euro Zone Structure Is 'Unsustainable' By JACK EWING Mario Draghi, president of the European Central Bank, also criticized political leaders on Thursday, saying half-measures have made the debt crisis worse. U.S. Adds Pressure on Europe to Resolve Crisis China Lets Currency Weaken, Risking New Trade Tensions By KEITH BRADSHER A cheaper renminbi makes Chinese exports more competitive in overseas markets, but it could worsen trade friction with Europe and particularly the United States. A Gracious and Civil Prelude to a Hanging By MARK LANDLER President Obama put partisanship aside for a few hours to pay tribute to his predecessor at the official unveiling of George W. Bush's official White House portrait. • Home Page »

DealBooK | DealB%K Afternoon Edition: JPMorgan's Chief to Testify Twice in June

Thursday, May 31, 2012 TOP STORY     TOP STORY JPMorgan's Chief to Testify Twice in June After days of discussions, Jamie Dimon of JPMorgan Chase has agreed to testify before the Senate Banking Committee on June 13, and he is also expected to appear before a House panel later in the month. DEALBOOK »     DEALBOOK HIGHLIGHTS Ackermann Hands Over Reins of Deutsche Bank Josef Ackermann bowed out Thursday as the chief executive of Deutsche Bank after more than a decade in which he transformed the institution into a global contender but also became a symbol to many Germans of the excesses of capitalism. DEALBOOK » Facebook Shares Extend Their Slide Shares of the social network giant below the low end of the first price range set for the initial public offering. The stock is now off nearly 30 percent from its I.P.O. price. DEALBOOK » Former Lehman C.F.O. Joins Broker Ian Lowitt, the last chief financial officer of Lehman Bro

CBS NEWS | Political Hotsheet Top Stories: Bush, Obama trade jokes at portrait unveiling

CBS POLITICAL HOTSHEET TOP STORIES         Bush, Obama trade jokes at portrait unveiling Putting politics aside, President Obama hosted a portrait unveiling for former President George W. Bush Read full story Romney makes surprise visit to Solyndra Presumptive GOP nominee hopes to use failed solar energy firm as an example of President Obama's weak economic stewardship Read full story Poll: Obama, Romney neck-and-neck in 3 key states In Iowa, Colorado and Nevada, Romney and Obama within points of one another, according to NBC News/Marist poll Read full story Warren: I provided schools with info on ancestry After continued controversy surrounding her heritage, Elizabeth Warren concedes she did tell schools she was Native American Read full story GOP primary: Why the media hype was justified John Dickerson: The outcome of the GOP primary was predictable but showed us what Romney is willing to d

BIV Business Today News: Every taxpayer could pay $9,000 to protect public-sector pensions: CFIB

Economy and Finance Every taxpayer could pay $9,000 to protect public-sector pensions: CFIB Every man, woman and child in Canada could be on the hook for more than $9,000 to pay for the unfunded liabilities of public-sector employee pension plans, according to a new Canadian Federation of Independent Business (CFIB) report. Real Estate and Development   NAIOP and Business in Vancouver honour commercial real-estate community More than 230 delegates from the business community attended the NAIOP Vancouver and Business in Vancouver Commercial Real Estate Awards of Excellence Gala, held last night at the Four Seasons Hotel Vancouver. Technology   Rogers relaunches Davie Street store with Apple-style hosts and trainers Rogers Communications Inc. is taking a page from the Apple playbook with the conversion of a former Rogers video store into a new retail outlet in Vancouver that focuses on educating customers about their

ADVFN World Daily Markets Bulletin

ADVFN I I I World Daily Markets Bulletin Daily world financial news US Market Reports Disappointing Data Drags Stocks Lower In Early Trading Stocks have moved notably lower in early trading on Thursday on the heels of a batch of disappointing U.S. economic data. The major averages have slid firmly into negative territory after opening the session near the unchanged line. The major averages have edged up off their lows for the session in the past few minutes but remain in the red. The Dow is down 45.98 points or 0.4 percent at 12,373.88, the Nasdaq is down 23.21 points or 0.8 percent at 2,814.15 and the S&P 500 is down 8.67 points or 0.7 percent at 1,304.65. The weakness that has emerged on Wall Street comes following the release of a slew of U.S. economic data, including reports providing further signs of sluggishness in the labor market. ADP said private sector employment rose by 133,000 jobs in May following a downwardly revised increase of 113,000

CBS NEWS | Daily News Summary: Obama, Romney launch fresh attacks

May 31, 2012 | DAILY NEWS SUMMARY CBS NEWS TOP STORIES Obama, Romney launch fresh attacks Both focus on jobs; Obama hits rival's record as Mass. governor; Romney pans president's green energy efforts Read full story Seattle gunman's brother: He was mentally ill Family of man police say killed 5, then himself, tell newspaper they "could see this coming," as city remains on edge Read full story Expert: U.S. should plan for Syria "safe haven" Ex-diplomat, presidential adviser Dennis Ross says Syria in civil war, and if Russia won't help, U.S. should plan for "safe haven" Read full story Watch: Truck crashes into bar, pins patrons Surveillance video captures pickup truck driven by 51-year-old woman crashing through bar's wall Read full story Face-chewing victim to have a long recovery Ronald Poppo in greater danger from infection that the injuries themselves after

Morning Market Briefing

Commentary May 31, 2012 Stocks May Move Modestly Higher Despite Disappointing Data - U.S. Commentary After falling sharply in the previous session, stocks may regain some ground in early trading on Thursday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 18 points. (May 31, 2012) Full Article Economic News South Korea Industrial Output Rises 0.9% In April Industrial production in South Korea climbed a seasonally adjusted 0.9 percent on month in April, Statistics Korea said on Thursday, blowing past expectations for a contraction of 0.9 percent following the upwardly revised 2.9 percent contraction in March. (May 31, 2012) Full Article Japan Industrial Output Up 0.2% In April Industrial output in Japan added a seasonally adjusted 0.2 percent on month in April, the Ministry of Economy, Trade and Industry said in Thursday's preliminary reading - expanding for the second straight mont