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Stock Markets News Headlines - Yahoo! News
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Wall Street falters in volatile session on Fed worries
By Angela Moon NEW YORK (Reuters) - Stocks fell on Wednesday with the S&P 500 posting its biggest decline in three weeks, after minutes from the latest Federal Reserve meeting showed some officials were open to tapering large-scale asset purchases as early as at the June meeting. Trading was volatile - the Dow and the S&P indexes both rose more than 1 percent during the morning, but fell more than 1 percent in the afternoon. ...
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HP raises 2013 outlook as Whitman's plan takes hold
By Poornima Gupta SAN FRANCISCO (Reuters) - Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations, as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing services. While fiscal second-quarter profit plummeted 32 percent, Wall Street had braced for worse. HP shares gained 14 percent after the company projected full-year earnings per share of $3.50 to $3.60, raising the lower end by 10 cents, and fiscal third-quarter profit that topped analyst estimates. ...
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How the Dow Jones industrial average fared
Stock indexes fell on Wall Street on fear the Federal Reserve could pull back from its stimulus programs soon. After surging early in the day, stocks fell as investors digested minutes of a Fed meeting ...
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HP's slumps deepens in 2Q as earnings fall 32 pct
SAN FRANCISCO (AP) — Hewlett-Packard's slump is deepening as the world's largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices.
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U.S. stocks, oil fall after Bernanke; dollar gains
By Ryan Vlastelica NEW YORK (Reuters) - Stocks, bonds and currencies took a wild ride on Wednesday, as remarks by Federal Reserve Chairman Ben Bernanke failed to provide the clear picture investors had hoped for of the likely continuation of the U.S. central bank's bond-buying program, with sentiment ultimately driven by expectations of tapering. Remarks by Bernanke, in testimony to Congress, that the bond purchases would remain in place for now initially drove sharp gains on Wall Street and sent the dollar lower. ...
Economy News Headlines - Yahoo! News
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Los Angeles mayor-elect vows to put recession in rear-view mirror
By Alex Dobuzinskis LOS ANGELES (Reuters) - Los Angeles Councilman Eric Garcetti declared victory Wednesday in his bid to become the next mayor and vowed to put the city's economic slump "in the rear-view mirror," capping a race shaped by dire fiscal forecasts and questions about the political clout of organized labor. Garcetti crossed the finish line of his two-year campaign to lead America's second-largest city with 54 percent of the votes cast in Tuesday's election, defeating City Controller Wendy Greuel, who garnered 46 percent. ...
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World Bank proposes $150 million loan to help Jordan with refugees
By Lesley Wroughton WASHINGTON (Reuters) - The World Bank has proposed a $150 million loan for Jordan to help it with the cost of thousands of Syrian refugees fleeing the civil war in Syria, Jordanian and World Bank board sources said on Wednesday. "The (World Bank) board should act on it in June," one source told Reuters. "Pressure on Jordan is increasing and the loan should help ease the economic burden." Close to 500,000 Syrian refugees, out of a total of 1. ...
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Bernanke says more progress needed before stimulus pullback
By Pedro da Costa and Alister Bull WASHINGTON (Reuters) - The Federal Reserve's monetary stimulus is helping the economy recover but the central bank needs to see further signs of traction before taking its foot off the gas pedal, Fed Chairman Ben Bernanke said on Wednesday. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain momentum, Bernanke told Congress. But minutes from the Fed's most recent meeting released on Wednesday showed the bar was still relatively high. ...
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IMF urges UK to spend more to fund investment
By William Schomberg and David Milliken LONDON (Reuters) - Britain's government should spend more now to fund investment and steer its economy back to recovery, the International Monetary Fund said on Wednesday, a call unlikely to be heeded by Chancellor George Osborne. Economic data earlier on Wednesday highlighted the challenge facing Osborne. Retail sales slumped last month while a measure of public borrowing jumped to a record high. ...
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Home sales close in on three-and-a-half year high
By Lucia Mutikani WASHINGTON (Reuters) - Home resales rose in April to the highest level in nearly 3-1/2 years and prices surged, offering the economy a buffer from the stiff headwinds posed by belt-tightening by Washington. The National Association of Realtors said on Wednesday existing home sales advanced 0.6 percent to an annual rate of 4.97 million units, the highest level since November 2009. The data underscored the housing market's improving fortunes as it starts to regain its footing. Resales were 9.7 percent higher than in the same period last year. ...