Washington, June 23 : Federal Reserve Chairman Ben Bernanke said Wednesday that a Greek sovereign debt default would "roil" financial markets and that the US is closely following the situation in the debt-ridden European country.
Direct exposure by US banks to bad debts in Greece is small, the Fed chief said in a press conference, although he added that a "disorderly default" would still have "quite significant" adverse effects on the US and the rest of the world.
New York, June 9 : US stocks traded mixed Wednesday as worries about the economic recovery weighed on the market, Xinhua reported.
Concerns over the global economy have grown due to a round of disappointing economic indicators around the world, particularly out of the US, which culminated in last week's much weaker than expected US jobs data.
Sell-offs continued after Federal Reserve chairman Ben Bernanke gave a relatively gloomy outlook for the economy.
New York, June 2 : US stocks sank Wednesday after four straight gains, as the latest data on jobs and manufacturing markets provided fresh evidence of a weaker economic recovery, Xinhua reported.
Automatic Data Processing Inc., a payrolls processor said before the opening bell that US private employers added a scant 38,000 jobs in May, far below expectations and also the lowest level since September 2010.
Adding to pressures, the expansion in the manufacturing sector slowed more than expected to its lowest level in more than one and half years, according to the Institute for Supply Management (ISM).
New York, June 1 : Wall Street ended the last session of May on a strong note, but major indexes still suffered monthly losses to end a five-month wining streak, as more signs showed US economic recovery was losing steam, Xinhua reported.
The blue-chip Dow Jones industrial average fell 1.9 percent for the month, while the broader Standard & Poor's 500 and the tech-heavy Nasdaq dropped 1.4 percent and 1.3 percent respectively.
New York, May 20 : Professional networking website LinkedIn listed an initial public offering (IPO) on the New York Stock Exchange, and surged over $90 dollars a share shortly after the opening bell Thursday, Xinhua reported.
The company priced per share at $45. During the morning trading, the company's stock was traded at $83 per share and quickly jumped over $90 per share.
At $90 a share, LinkedIn was valued at about $8.5 billion, making the eight-year-old company one of the largest technology IPOs since Google in 2004.
The company has planned to raise around $350 million, aiming at improving its professional networking service.
New York, May 19 : US stocks gained strength Wednesday as traders were encouraged by Dell's strong earnings and a recovery in commodity prices.
Market sentiment was bolstered after Dell reported stronger- than-expected earnings late Tuesday. With its profit nearly tripled in the latest quarter, the computer maker reassured investors about its full-year outlook, giving the market some relief after Hewlett Packard cut its full-year outlook on weak consumer demand.
New York, May 17 : US stocks fell Monday, with the tech-heavy Nasdaq leading the decliners, as weaker-than-expected economic data made investors worry about the strength of the US economy, Xinhua reported.
Before the opening bell, the Federal Reserve Bank of New York reported that manufacturing in the New York region slowed down in May as the cost of raw materials soared.
The Empire State index fell to 11.88, well below the economists' estimates of 20. In April the index hit the record high of 21.70.
Toronto, April 4 - Amid the continuing uncertainty over the proposed merger of the Toronto Stock Exchange with the London Stock Exchange, a majority of CEOs here say they support the merger.
The Toronto Stock Exchange, the third largest in North America, and the London Stock Exchange announced February 9 to merge to create a new global mega-bourse.
The 150-year-old Toronto Stock Exchange is the biggest resource (energy and mining) leader, with about 1,500 companies listed on it.
The current market value of the London Stock Exchange (LSE) is about $3.87 billion whereas the TMX Group is pegged at $2.99 billion.
With their merger, the two bourses will form a nearly $7-billion giant entity with offices in Toronto and London.
New York, March 8 - US stock prices dropped across the board Monday as increasing violence in Libya sent oil prices soaring and high-tech chipmakers received a gloomy forecast.
The trend continued Monday's falling markets in Europe and Asia.
Oil rose to a 29-month high amidst attacks on rebels by Libyan leader Muammar Gaddafi's security forces. Airstrikes targeted the oil-rich city of Ras Lanuf along the northern coast. Climbing oil prices could erode the fragile US economic recovery, analysts say.
Chipmaker stocks dropped after Wells Fargo & Co downgraded the outlook for the industry, Bloomberg financial news service reported.
New York, March 2 - Wall Street stocks fell sharply Tuesday as the price of oil surged again in the face of ongoing unrest in Libya and more anti-government protests in other parts of the Middle East.
Crude oil in New York trading jumped 2.7 percent to $99.63 per barrel, a more than two-year high, as Libyan opposition forces clashed with government troops loyal to defiant leader Muammer Gaddafi.
New York, Feb 26 - US stocks rallied Friday, curbing some of the losses earlier this week from surging oil prices provoked by the ongoing unrest in Libya.
Friday's gains on Wall Street were spearheaded by another unexpected rise in US consumer confidence, the backbone of the world's largest economy.
A gauge of confidence from the University of Michigan and Thomson Reuters rose to its highest level in three years. A separate measure from the New York-based Conference Board also climbed to a three-year high earlier this week.
New York, Feb 24 - US stocks dropped for a second straight day Wednesday as investors were concerned about Libya turmoil and the growing Middle East unrest, Xinhua reported.
Investors' concerns over the uncertainty surrounding the world's daily oil provision drove the oil price briefly to $100 a barrel for the first time since October 2008. With the oil price surging at a rapid pace, stocks were inevitably under severe pressure.
Energy stocks, however, became the strongest performers among Dow components Wednesday. Chevron gained 1.95 percent to $102.27. Exxon Mobil was up 1.63 percent to $87.7.
New York, Feb 19 - US markets ended the week higher Friday, led by gains by major companies in the Dow Jones Industrial Average.
The blue-chip Dow is at its highest level in two and a half years. The gains Friday were led by Caterpillar, Travelers and Chevron. Other major stock indices closed with only modest gains after trading in the negative for much of the day.
The markets reacted little to the start of a Paris meeting of finance ministers from the Group of 20 (G20) major economies. French President Nicolas Sarkozy urged more global cooperation, warning that focusing on national interests would mean "the death" of the G20.
New York, Feb 18 - US stocks gained slightly Thursday as some stronger economic data overshadowed a higher-than-expected rise in the cost of living.
The private Conference Board said its index of economic indicators rose for the seventh straight month, while a gauge of business activity from the US central bank's Philadelphia division also rose more than expected.
Consumer prices in January rose 0.4 percent for the second straight month, according to monthly Labour Department figures, mainly due to higher petrol and food prices. The last 0.4-percent increase prior to December had been in June 2009.
New York, Feb 17 - Wall Street stocks climbed Wednesday as the Federal Reserve raised its economic forecast for the US this year.
The US central bank predicted growth of between 3.4 and 3.9 percent in 2011, up from November projections, but said the improved outlook was unlikely to drive down unemployment rates from their current level of 9 percent.
Improved figures for US home construction and better-than-expected earnings from computer firm Dell also buoyed investors.