New York - US stocks surged on Thursday after a steep dive a day earlier amid ongoing fears of a global recession.
The blue-chip Dow Jones Industrial Average gained 401.35 points, or 4.68 per cent, to 8,979.26 in a late rally.
The broader Standard & Poor's 500 Index picked up 38.59 points, or 4.25 per cent, to 946.43. The technology heavy Nasdaq Composite Index earned 89.38 points, or 5.49 per cent, closing at 1,717.71.
The gains were spurred in part by news that inflation had held steady in September, making further interest rate cuts by the Federal Reserve more likely.
Washington - US and Iraqi negotiators have reached a tentative agreement outlining the future presence of US troops but it still requires the support of lawmakers in both countries, the Pentagon said Thursday.
The United States and Iraq have been negotiating the pact for months to establish a legal basis for maintaining American forces in Iraq once a UN mandate expires at the end of this year.
The deal will still require the approval of each country's top leaders and Iraqi Prime Minister Nuri al-Maliki is seeking a support from parliament.
Washington - US President George W Bush on Thursday said he recognized global concerns about the far reaches of the financial crisis and reiterated that wealthy nations were working together to bring markets under control.
Speaking at the signing of a trade extension deal with four Latin American nations, Bush said all nations were in the middle of carrying out comprehensive plans to stabilize financial markets.
Washington - Harley-Davidson Inc, the largest US motorcycle maker, Thursday reported a 37-per-cent drop in its third-quarter profits amid a slowdown in its global bike sales and the ongoing credit crisis.
Revenue for the quarter was 1.42 billion dollars compared to 1.54 billion dollars in the year ago quarter - a 7.7-per-cent decrease. Net income for the quarter was 166.5 million dollars compared to 265 million dollars in the third quarter of 2007, a decrease of 37.1 percent, a company statement said.
New York - Continental Airlines, the fourth largest US carrier, said Thursday it lost 263 million dollars in the third quarter amid higher costs for jet fuel that have pounded airlines.
The loss comes after earnings of 241 million dollars in the year- earlier period, the Houston-based company said. Revenue rose 9 per cent to 4.2 billion dollars, but could not overcome the company's 736 million dollar fuel bill. It said it would delay the planned purchase of new aircraft.
Washington - With only 19 days left before presidential elections, Republicans are mounting challenges to voter registrations in key battleground states such as Ohio, where election officials have asked the US Supreme Court to intervene.
The challenges mostly involve newly registered voters, and would likely hurt Democratic nominee Barack Obama, whose campaign has worked to register huge numbers of new voters around the country.
New York - US stocks surged on Thursday after a steep dive a day earlier amid ongoing fears of a global recession.
Washington - US and Iraqi negotiators have reached a tentative agreement outlining the future presence of US troops but it still requires the support of lawmakers in both countries, the Pentagon said Thursday.
Washington - US President George W Bush on Thursday said he recognized global concerns about the far reaches of the financial crisis and reiterated that wealthy nations were working together to bring markets under control.
Washington - Harley-Davidson Inc, the largest US motorcycle maker, Thursday reported a 37-per-cent drop in its third-quarter profits amid a slowdown in its global bike sales and the ongoing credit crisis.
New York - Continental Airlines, the fourth largest US carrier, said Thursday it lost 263 million dollars in the third quarter amid higher costs for jet fuel that have pounded airlines.
