Jun 12, 2012 4:02 PM ET
Wall Street turned higher and shook of early gloom as investors hunted for bargains. World Bank lowered the global economic growth to 3% in 2013. ING agreed to pay a record find of $619 million for violating sanctions placed for transactions linked to Cuba and Iran.
Jun 12, 2012 9:39 AM ET
European markets traded higher in choppy trading but stress in bond market turned investors cautious. Spanish bond yields rose above 6.5% for the second day in a row and Italian bond yields jumped above 6% forcing policy makers to turn attention to Italy.
Jun 11, 2012 3:01 PM ET
Wall Street turned negative after early euphoria fades and the euro zone worries over power market sentiment. Crude oil and metals tracked lower and U.S. Treasuries yields declined. Apple Inc released new versions of its popular computers and widely anticipated 3D mapping application.
Jun 11, 2012 8:49 AM ET
European markets surged after ministers in the region agreed to support Spanish bank bailout. Market euphoria was tempered as investors searched for details and worried of rising debt of Spanish government and bond yields barely budged.
Jun 10, 2012 12:52 PM ET
Euro zone finance ministers agreed to extend 100 billion to Spain after a hastily agreed meeting on Saturday to thwart the widening debt contagion. Spanish minister said the final amount of bailout will be determined after an independent bank audit and will exclude the IMF.
Jun 08, 2012 4:21 PM ET
Stocks in New York traded higher on rising hopes of a speedy bank bailout in Spain. The S&P 500 indexs weekly gain was the best in the year so far. U.S. trade gap narrowed and German export declined for the first time in April and Italian output fell. Gold declined 2% in the week.
Jun 08, 2012 12:40 PM ET
European markets closed lower but flirted with 1% decline as politicians, bankers and regulators work to finalize bank bailout in Spain. Trading volume across Europe fell in May as investors stay on the sidelines. The euro eased and commodities fell.
Jun 07, 2012 4:01 PM ET
U.S. stocks lost steam in the final hour of trading and China cut rate unexpectedly and Spain completed the sale of long term bonds. The mood in New York turned cautious after tech stocks failed participate in the broader rally. Gold tumbled.
Jun 07, 2012 10:24 AM ET
European markets advanced after political leaders stepped up activities that may lead to direct lending to Spanish banks. IMF officials estimate as much as 40 billion capital needed by Spanish banks. UK holds interest rates and unemployment rises in France and Greece.
Jun 06, 2012 3:34 PM ET
U.S. indexes soared as investors shifted their focus to domestic companies and impending earnings season next week. Financials and industrials were in demand. Nasdaq OMX Group approved a plan to set aside $40 million to pay for losses from mishandled Facebook public offering.