AP – Stocks around the world recovered Tuesday, a day after mounting fears over Europe’s debt crisis sent shares tumbling, while oil prices pushed back toward $100 a barrel after Goldman Sachs issued an upbeat assessment of commodity prices despite recent concerns over the pace of the global economic recovery.
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AP – An impressive initial stock offering from professional networking site LinkedIn supported markets Friday despite concerns about the pace of the U.S. economic recovery.
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AP – Serious doubts about the health of the job market and the pace of the economic recovery put markets on edge Wednesday.
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AP – Egypt’s benchmark stock index rallied moderately on Wednesday, gaining as investors hoped that the detention of former President Hosni Mubarak and his two sons may allay growing frustrations with the pace of reforms and accountability in the country.
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Read More »NEW YORK- Stock futures were pointing to a stronger open Friday ahead of a report that’s expected to show that the U.S. economy grew at a faster pace in the fourth quarter than the previous one.
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AP – Stocks headed higher Friday after the government said the economy grew at a faster pace than expected at the end of last year. Technology shares rose after Oracle Corp. posted higher earnings.
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The worst U.S. economic slump since the Great Depression abated in the second quarter as government spending programs started to kick in, while the sharpest pullback by consumers since 1980 augured a muted recovery.
Gross domestic product shrank at a better-than-forecast 1 percent annual pace after a 6.4 percent drop the prior three months, Commerce Department figures showed yesterday in Washington. A survey of purchasing managers showed separately that business contracted less than estimated in July.
Consumer spending, which accounts for about 70 percent of the economy, fell at a 1.2 percent pace following a 0.6 percent increase in the prior quarter. It was forecast to drop 0.5 percent, according to the survey median. Purchases slid 2 percent since the peak at the end of 2007 — the most since a 2.4 percent decline in the 1980 recession.
Source: bloomberg.com
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