Stocks moved sharply higher over the course of the trading day on Friday, more than offsetting the weakness seen on Thursday. In a reversal from the previous session, the markets benefited from some upbeat U.S. economic data as well as comments from a Federal Reserve official. The major averages saw further upside going into the close, with the Dow and the S&P 500 reaching new record highs.
U.S. crude oil ended sharply higher for a third straight session Friday, tracking rising global equity markets after some upbeat macroeconomic data out of the U.S. raised hopes of an economic recovery, even as the dollar strengthened against a basket of major currencies.
In some positive economic...
Gold futures continued to plunge lower for a seventh straight session Friday, with the dollar rising to a near three-year high against a basket of major currencies on some upbeat macroeconomic data and speculations the U.S. Federal Reserve may drastically scale down its quantitative easing program.
Gold...
As the IRS targeting scandal continues to make headlines, animal-protection charity People for the Ethical Treatment of Animals, or PETA, claims that conservative groups are not the only ones that have faced increased scrutiny from the agency.
After moving higher at the start of trading on Friday, stocks have continued to perform well throughout the session. The markets have benefited from some upbeat economic data after a disappointing batch of data helped drag stocks lower on Thursday. The major averages have moved roughly sideways in recent trading, hovering firmly in positive territory.
A conservative advocacy group has urged House Republican leaders to refrain from bringing controversial legislation to the House floor and risk distracting Americans from the recent scandals causing headaches for the White House.
While the IRS targeting scandal has taken center stage on Capitol Hill on Friday, the results of a new Gallup poll showed that the American public's interest in the story is comparatively low based on historical measures.
The poll showed that 54 percent of Americans are following the news that the IRS targeted conservative groups for greater scrutiny "very" or "somewhat" closely.
Led by building permits and the interest rate spread, leading economic indicators in the U.S. rose by more than anticipated in the month of April, according to a report released by the Conference Board on Friday. The Conference Board said its leading economic index rose by 0.6 percent in April following a revised 0.2 percent decrease in March.
Consumer sentiment in the U.S. has seen a substantial improvement in the month of May, according to a report released by Thomson Reuters and the University of Michigan on Friday, with the consumer sentiment index rising to its highest level in nearly six years.
Stocks moved notably higher at the start of trading on Friday, partly offsetting the weakness that was seen in the previous session. The major averages have all moved back to the upside after ending Thursday's trading in the red. The major averages have recently pulled back off their highs for the young session but are currently holding on to modest gains.
After moving mostly lower over the course of the previous session, stocks are likely to move back to the upside in early trading on Friday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 50 points.
Stage Stores, Inc. Friday reported a wider loss for its first quarter, reflecting mainly a charge related to consolidation of its South Hill, Virginia operations. Sales increased 3.5 percent from last year. The company maintained its adjusted earnings per share outlook for fiscal 2013, while lifted its sales view.
Filtration systems provider Donaldson Company, Inc. (DCI) Friday cut its earnings and sales forecast for the year, after reporting a marginal drop in third-quarter profit as sales growth continued to be challenged by the global economic environment.
After yesterday's nervous run, Wall Street seems to be striving to regain the momentum that has helped the averages scale new record highs in recent sessions. The U.S. index futures point to a modestly higher opening on Friday. A few key earnings reports released after the markets closed yesterday have...
Danish container shipping firm A.P. Moller-Maersk A/S Friday reported a decline in the first-quarter profit, reflecting mainly higher income tax expense and lower revenues. For full-year 2013, the Group still expects a profit below the 2012 levels of $4.0 billion. The net result is expected to be in line with 2012 of $2.9 billion, excluding...