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Stocks closed higher, led by gains in technology and energy shares. Major indexes had fallen earlier in the day after weaker-than-expected durable goods data but then rebounded. "I think a lot of people see setbacks to be bargain time", said Michael Metz of Oppenheimer.
CNBC.com's Live Events Video Player carried all-day coverage of The Wall Street Journal Deals & Deal Makers Conference on Wednesday, June 27, 2007. Here are some of the video highlights.
India and the U.S. pressed one another to watch out for poor countries' interests in global trade talks, but struck a conciliatory note less than a week after acrimony erupted in the WTO's Doha round.
New orders for long-lasting U.S.-made manufactured goods tumbled a larger-than-expected 2.8% in May, raising doubts about the strength of the factory sector and business expansion plans.
Gordon Brown replaced Tony Blair as Britain's prime minister on Wednesday after years of waiting and promised sweeping changes in style and policy to restore trust in a government damaged by the Iraq war.
Stock futures point lower this morning after a weak showing in equities markets worldwide. European stocks are trading lower, and Asian markets were mostly down overnight. Volatility will no doubt be the tone of the day, as the Fed starts its two-day meeting. Durable goods fell 2.8%, below expectations. The dollar slid after the report and Treasurys rallied.
Stocks finished lower in a choppy session that was overshadowed by concerns about the housing slowdown and a meltdown in the subprime mortgage industry. "The financials tend to lead the market down and that's what they were doing today," said Robert Albertson, chief strategist at Sandler O'Neill. "I think it goes well beyond subprime. "
U.S. new home sales in May fell more than expected while consumer confidence in June fell to a 10-month low amid anxiousness about jobs and the business climate, adding to signs of sluggish economic growth this year.
"Risk appetite has started to abate expressed by lower equity markets, rising credit spreads and continued steepness of bond curves."
The main challengers to U.S. economic power -- Brazil, Russia, India and China -- have overtaken the United States in dominating the global energy industry, according to a new study by Goldman Sachs.
Stocks ended lower as investors were rattled by concerns regarded leveraged mortgage securities held by two Bear Stearns hedge funds. "We will see a splash near term as some of these funds need to unwind positions in paper that really isn't traded too much," said Jack Ablin of Harris Private Bank.
In a special edition of "Power Lunch at the Four Seasons," Abby Joseph Cohen, the chief U.S. portfolio strategist at Goldman Sachs, offered her perspective on the markets, the S&P 500 and the global economy to CNBC's Bill Griffeth.
With the second half beginning next week, two market analysts joined "Morning Call" to give their outlook for stocks for the remainder of 2007. Charles Bobrinskoy, vice chairman and director of research at Ariel Capital Management, is "somewhere between cautious and bearish," while Patricia Chadwick, president of Ravengate Partners, "is not as worried."
Asian economies may have overcome the 1997-98 financial crisis but now face new threats such as income disparity, climate change and a possible global economic meltdown, government and business leaders said Sunday.
Stocks ended the week lower as investors were rattled by rising energy prices and worries about the potential fallout from two struggling mortgage securities funds managed by Bear Stearns.
Stocks ended broadly lower as Wall Street pondered the fate of two Bear Stearns mortgage debt funds. Losses were compounded by adjustments in several key indexes.
The problems in the subprime mortgage market aren't yet well enough understood for regulators to propose a quick solution, said Cleveland Federal Reserve Bank President Sandra Pianalto.
Stocks closed higher as investors were encouraged by solid economic data amid a broad rally in technology stocks. "We were pretty oversold yesterday," said Tom Schrader, managing director of US listed trading at Stifel Nicolaus. "We had some good news from the tech sector which propelled the Nasdaq higher."
The dollar gained on the Swiss franc on Thursday and approached a 4-1/2-year high against the yen as investors continued to punish low-yielding currencies in a quest for higher returns.
Oil prices slipped below $69 a barrel Thursday after a report that a strike in Nigeria hasn't affected oil exports from Africa's largest crude producer alleviated the market's supply concerns.