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Markets turn negative after sentiment data

admin — Fri, 12 Mar 2010 17:00:25 +0000

NEW YORK (Reuters) – U.S. stocks turned lower on Friday, as a weaker-than-forecast reading on consumer sentiment outweighed an unexpected increase in retail sales.

Retail sales rise as shoppers fight winter blues

admin — Fri, 12 Mar 2010 17:00:22 +0000

WASHINGTON (Reuters) – U.S. retail sales rose unexpectedly last month despite heavy snow storms and a drop in vehicle purchases by consumers spooked by Toyota recalls, bolstering hopes of a sustainable economic recovery.

Foreclosure Filings Drop. Prevention Policies Distorting Supply and Demand

badnote — Fri, 12 Mar 2010 17:00:22 +0000

Today RealtyTrac® released its February U.S. Foreclosure Market Report. The RealtyTrac report shows that foreclosure filings, which include default notices, scheduled auctions, and bank repossessions declined 2 percent from January. A total of 308,524 properties in the United States received one of the listed notices during the month. This equates to 1 house in every [...]

Citigroup Sees Return to Sustained Profitability: Pandit

badnote — Fri, 12 Mar 2010 17:00:14 +0000

Citigroup Chief Executive Vikram Pandit told investors on Thursday that he views the troubled bank as “well positioned to return to sustained profitability.”

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Stock futures rise ahead of retail sales data

admin — Fri, 12 Mar 2010 13:00:05 +0000

NEW YORK (Reuters) – U.S. stock index futures were higher on Friday, a day after the S&P hit a 17-month closing high and ahead of reports that could give clues about the strength of the American consumer.

Asia stocks head for 5th straight week of gains

admin — Fri, 12 Mar 2010 09:00:58 +0000

SINGAPORE (Reuters) – Asian stocks edged up on Friday, heading for a fifth straight week of gains, with energy stocks outperforming as oil held above $82 a barrel.

Obama to tap Yellen for Fed vice chair: source

admin — Fri, 12 Mar 2010 09:00:46 +0000

WASHINGTON (Reuters) – President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen, a respected policy dove, to be vice chairman of the central bank, a source familiar with the process said on Thursday.

Lehman report blames top executives

badnote — Fri, 12 Mar 2010 09:00:20 +0000

A one-year probe into the collapse of Lehman Brothers found ‘credible evidence’ that top executives, including the former chief Dick Fuld, approved misleading financial statements and used an ‘accounting gimmick’ to flatter results

Lehman Insolvent Weeks Before Bankruptcy: Examiner

badnote — Fri, 12 Mar 2010 07:00:06 +0000

Lehman Brothers used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found.

S&P 500 hits 17-month high as banks lift Wall Street

admin — Fri, 12 Mar 2010 05:00:22 +0000

NEW YORK (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.