While buying interest was relatively subdued, stocks moved modestly higher over the course of the trading day on Tuesday. The strength on the day offset the weakness seen in the previous session, with the Dow and the S&P 500 reaching new record closing highs. The major averages gave back some ground in late-day trading but remained in positive territory.
While Sen. Jay Rockefeller, D-W.V., said he was "deeply troubled" to learn of the IRS targeting conservatives groups, he suggested that Congress should also investigate the issue of organizations seeking non-profit status and then engaging in political activity
U.S. crude oil snapped a four-day winning streak to end lower Tuesday, ahead of the Federal Open Market Committee policy meet outcome, even as the dollar strengthened against a basket of major currencies. Investor focus was also centered on the upcoming weekly U.S. crude stockpile report which is expected...
A prominent labor union has come out against President Barack Obama's nomination of billionaire businesswoman Penny Pritzker as Secretary of Commerce due to her role as a member of the board of Hyatt Hotels.
Stocks have moved mostly higher over the course of the trading day on Tuesday after showing a lack of direction earlier in the session. The major averages have climbed more firmly into positive territory, offsetting the modest losses posted in the previous session. The major averages have moved roughly sideways in recent trading, hovering near their new highs for the session.
Gold futures settled lower Monday, with investors awaiting cues from the Federal Open Market Committee policy meet on the central bank's future policy on its quantitative easing program, even as the dollar strengthened against a basket of major currencies.
The outcome of the Federal Reserve meeting...
President Barack Obama pledged Tuesday that the residents of Oklahoma will have all of the resources they need to respond to the destruction caused by the massive tornado that ripped through the state Monday afternoon. The tornado, which was estimated to be at least 2 miles wide, caused massive devastation in the town of Moore, Oklahoma, a suburb of Oklahoma City.
Stocks have shown a lack of direction over the course of the trading day on Tuesday after failing to sustain an early upward move. The choppy trading extends the lackluster performance that was seen throughout the previous session. The major averages are currently posting modest gains but have pulled back off their highs for the session.
Mobile phone carrier Sprint Nextel Corp. on Tuesday sweetened its offer by 14 percent to acquire the 49.2 percent stake in wireless network operator Clearwire Corp. that it currently did not own. The raised offer stands at $3.40 per share and represents a significant premium over the unaffected Clearwire share price. The offer values Clearwire at $10.7 billion.
While a recent series of scandals have caused headaches for the White House, the results of a Washington Post-ABC News poll released Tuesday suggest that the news has not had an impact on President Barack Obama's approval rating. The poll showed that 51 percent of Americans approve of the way Obama is handling his job as president compared to 44 percent that disapprove.
Off-price retailer TJX Companies, Inc. on Tuesday reported an 8 percent increase in profit for the first quarter on higher revenues and improved merchandise margins. Revenues beat analysts' expectations, while earnings per share matched their estimates. The company provided earnings guidance for the second quarter and raised the lower end of its fiscal 2014 earnings range, but below Street view.
Stocks have moved modestly higher in early trading on Tuesday, benefiting from a positive reaction to some upbeat earnings news. The major averages have all moved to the upside, offsetting the slim losses posted in the previous session. The major averages are currently posting modest gains, near their highs for the young session.
Medical equipment maker Medtronic, Inc. Tuesday reported a decline in fourth-quarter profit, reflecting higher restructuring charges and a gain on sale recorded in the prior year. Adjusted earnings and revenues, however, topped analysts' expectations. Net sales grew, with 4 percent increase in international revenue, which accounted for 47 percent of the company's worldwide revenue.
After turning in a lackluster performance throughout the previous session, stocks may continue to experience choppy trading on Tuesday. The major index futures are currently pointing to a roughly flat open for the markets.
Consumer electronics retailer Best Buy Co., Inc. (BBY) reported Tuesday a loss for the first quarter compared to a profit last year, when results included Super Bowl big-screen sales. The company also said it will not provide financial guidance but indicated a weak second quarter.