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Wall Street to fall on China data, S&P still up for week
Aug 10th, 2012
NEW YORK (Reuters) - U.S. stocks were set to open lower on Friday after a far weaker-than-expected rate of growth in Chinese exports, but the S&P 500 was still on track to post its fifth straight week of gains. Trade and new bank lending data in China suggested pro-growth policies have been slow to gain traction and more urgent action may be needed to stabilize the economy. "The data was not bad, it was horrendous," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont. ... (Source: Reuters) -
By Caroline Valetkevitch NEW YORK (Reuters) - The U.S. stock market's break in its recent rally this week left investors wondering if they're seeing a turning point or just a blip in the upward path. Next week could make it harder to figure out, considering that the long Memorial Day weekend typically signals the start of the summer. The ... [Full Article]
By Caroline Valetkevitch NEW YORK (Reuters) - The stock market's break in its recent rally this week left investors wondering if they're seeing a turning point or just a blip in the upward path. Next week could make it harder to figure out, considering that the long Memorial Day weekend typically signals the start of the summer. The three... [Full Article]
WASHINGTON (AP) - The number of Americans applying for unemployment benefits fell 23,000 last week to a seasonally adjusted 340,000, a level consistent with solid job growth. (Source: Associated Press)... [Full Article]
BEIJING (AP) - A top North Korean envoy delivered a letter from leader Kim Jong Un to Chinese President Xi Jinping on Friday and told him Pyongyang would take steps to rejoin stalled nuclear disarmament talks, in an apparent victory for Beijing's efforts to coax its unruly ally into lowering tensions. (Source: Associated Press)... [Full Article]
NEW YORK (Reuters) - U.S. stocks hit session highs in morning trading on Friday after a gauge of future U.S. economic activity rose to its highest level in nearly five years. The Dow Jones industrial average rose 64.81 points or 0.43 percent, to 15,298.03, the S&P 500 gained 9.33 points or 0.57 percent, to 1,659.8 and the Nasdaq Composite added... [Full Article]
By Ian Chua SYDNEY (Reuters) - Japanese stocks turned negative on Friday and the yen reversed early losses, keeping intact worries that the Nikkei's largest one-day drop in two years may be the start of a bigger rout. In a sign that many are still spooked by Thursday's eye-watering 7.3 percent Nikkei drop, share markets elsewhere in Asia ... [Full Article]
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