Cuts imminent, Senate Democrats, GOP stage votes

WASHINGTON (AP) — Squabbling away the hours, the Senate moved toward certain defeat of last-minute plans to avoid $85 billion in broad-based spending reductions Thursday as the two political parties blamed each other for the latest outbreak of gridlock and the Obama administration readied plans to put the cuts into effect.The immediate impact was uncertain as the administration pulled back on its...

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Wall Street climbs 1 percent on Bernanke, economic data

NEW YORK (Reuters) - Stocks rose 1 percent on Wednesday, erasing much of the week's losses as Federal Reserve Chairman Ben Bernanke remained steadfast in his support of the Fed's stimulus policy and data pointed to economic improvement. In his second day before a congressional committee, Bernanke repeated testimony in which he defended the Fed's policy of buying bonds to keep interest...

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Wall Street rebounds as Bernanke defends policy

NEW YORK (Reuters) - Stocks climbed on Tuesday, rebounding from their worst decline since November after Federal Reserve Chairman Ben Bernanke defended the Fed's bond-buying stimulus before Congress. Bernanke, in testimony before the Senate Banking Committee, strongly defended the Fed's bond-buying stimulus program and quieted rumblings that the central bank may pull back from its stimulative...

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Wall Street drops on Italian election uncertainty

NEW YORK (Reuters) - Stocks fell on Monday, reversing course from earlier gains as elections in Italy stoked concerns a divided parliament could disrupt the country's fiscal reforms and the euro zone's stability. Early forecasts of the results were conflicting, as opinion polls indicated the center-left of Pier Luigi Bersani winning the lower house, but projections from RAI state television...

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Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large. Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling. Talks on the U.S. budget...

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Investors face another Washington deadline

NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large. Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling. Talks on the U.S. budget...

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Wall Street drops again, data raises growth concerns

NEW YORK (Reuters) - U.S. stocks fell on Thursday and were on track for their biggest two-day decline since November as weak data suggested expectations for economic growth were overly optimistic. The two-day decline marked the U.S. stock market's first sustained pullback this year. The Standard & Poor's 500 is up 5.2 percent so far this year. The benchmark index has climbed for seven...

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Wall Street drops as energy sector drags

NEW YORK (Reuters) - U.S. stocks fell on Wednesday, pressured by a drop in energy shares as investors found few reasons to buy equities following a rally that has propelled indexes close to all-time highs. Stocks were volatile after minutes from the U.S. Federal Reserve suggested the central bank may have to slow or stop buying assets before seeing a pickup in hiring, raising the prospect...

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Yen resumes fall after G20, U.S. holiday thins trade

LONDON (Reuters) - The yen resumed falling on Monday after Japan signaled it would push ahead with expansionist monetary policies having escaped criticism from the world's 20 biggest economies at the weekend. Industrial metals also dipped and European shares were soft on lingering worries about the economic outlook, especially for the euro zone. While the risk of an inconclusive outcome...

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G20 steps back from currency brink, heat off Japan

MOSCOW (Reuters) - The Group of 20 nations declared on Saturday there would be no currency war and deferred plans to set new debt-cutting targets, underlining broad concern about the fragile state of the world economy. Japan's expansive policies, which have driven down the yen, escaped direct criticism in a statement thrashed out in Moscow by policymakers from the G20, which spans developed...

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G20 steps back from currency brink, heat off Japan

MOSCOW (Reuters) - The Group of 20 nations declared on Saturday there would be no currency war and deferred plans to set new debt-cutting targets, underlining broad concern about the fragile state of the world economy. Japan's expansive policies, which have driven down the yen, escaped direct criticism in a statement thrashed out in Moscow by policymakers from the G20, which spans developed...

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Wall Street flat but on track for seventh straight weekly gain

NEW YORK (Reuters) - Stocks were little changed on Friday as investors once again found few reasons to make big bets with the S&P 500 on track to close out a seventh straight week of gains. Equities have struggled for direction recently, with major indexes moving only slightly in the past several sessions. The biggest daily move for the S&P in the past five sessions was on Tuesday,...

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Wall Street edges up, Dow nears all-time high

NEW YORK (Reuters) - Stocks edged higher on Tuesday, putting the Dow within striking distance of all-time highs as investors looked ahead to President Barack Obama's State of the Union address, which is expected to focus on the economy. Jobs and economic growth are seen as major themes of Obama's speech, scheduled to begin at 9 p.m. (0200 GMT Wednesday). Investors will also listen for...

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Wall Street ticks lower, investors seek new catalysts

NEW YORK (Reuters) - Stocks fell modestly on Monday as investors found few reasons to keep pushing shares higher following a six-weeks-long advance that has taken the S&P 500 index near record highs. The benchmark index is up more than 6 percent so far this year after a steep rally in January that has stalled as the S&P and Dow industrials near multi-year highs. "This...

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Stocks end higher for sixth straight week, tech leads

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures. The S&P 500 also posted a sixth straight week of gains for the first time since August. The technology sector led the day's gains, with the S&P 500 technology index...

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Wall Street extends gains, Nasdaq near 12-year high

NEW YORK (Reuters) - Stocks extended gains on Friday, with the Nasdaq rising 1 percent, putting it within close reach of a 12-year high. The Dow Jones industrial average <.dji> gained 47.66 points, or 0.34 percent, to 13,991.71. The Standard & Poor's 500 Index <.spx> rose 7.47 points, or 0.49 percent, to 1,516.86. The Nasdaq Composite Index <.ixic> was up 30.23 points,...

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Wall Street dips on renewed euro zone fears

NEW YORK (Reuters) - Stocks fell on Thursday as comments by the ECB president on the euro raised worries about Europe's outlook and curbed investors' appetite for risky assets. The euro currency dropped against the safe-haven dollar and yen after European Central Bank President Mario Draghi said the exchange rate was important to growth and price stability, which investors took as a sign...

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Wall Street stymied as investors lack catalysts to trade

NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday as investors, without any major economic reports to guide them, awaited fresh incentives to trade after rallies took the S&P 500 to five-year highs. Transportation stocks were among the worst performers, weighed down by a 10 percent drop in CH Robinson Worldwide to $60.40 after the freight transport company posted...

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Wall Street climbs 1 percent on results; Dow above 14,000

NEW YORK (Reuters) - Stocks climbed on Tuesday, pushing the Dow above 14,000 a day after the market's biggest sell-off since November, as stronger-than-expected earnings brightened the profit picture. All 10 S&P sectors were higher, and the S&P 500 and Nasdaq gained more than 1 percent. Dell Inc's stock rose after the world's No. 3 computer maker agreed to be taken...

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Wall Street pulls back after recent gain; data disappoints

NEW YORK (Reuters) - Stocks dropped on Monday, pulling back from gains in the prior session that left the S&P 500 at a five-year high and the Dow above 14,000, as factory orders data disappointed and worries about the euro zone crisis resurfaced. The S&P 500 was on track for its biggest daily percentage decline since December 28. Chevron and Wal-Mart were among the biggest drags...

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