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Stocks closed broadly higher on Friday as the major markets hit new highs on takeover news and encouraging consumer data. "Right now investor sentiment is surging to the optimistic side," said Chris Johnson, founder and chief investment strategist at Johnson Research Group.
Share buybacks are seen driving the market rally. But is the record buyback level really a good thing? Jerry Castellini thinks so. The president and CIO of CastleArk Management explained his optimism to "Squawk on the Street" viewers.
U.S. consumer sentiment unexpectedly improved in early May, as a favorable job outlook and a booming stock market muted the impact of record high gasoline prices, according to a poll published on Friday.
All eyes will be on Washington D.C. this week as Vice Premier Wu Yi meets with U.S. Treasury Secretary Henry Paulson for the second round of strategic talks between the two powers. Topics on the table include, the yuan, the widening trade gap between the two countries and intellectual property rights.
The U.S. dollar held around a three-month high against the yen after a regional survey showed an unexpectedly large rise in U.S. business activity, backing a view that interest rates will stay on hold for some time.
A late selloff pushed stocks lower at the close as strong economic data and encouraging comments by the Fed were offset by profit-taking and a spike in energy prices. "We're seeing a little bit of weakness, but the market not selling off tremendously is an overall positive," said Robert Pavlik, chief investment officer at OakTree Asset Management.
El-Erian spoke with Michelle Caruso-Cabrera to discuss inflation, private equity, the global economy and the "long-term themes" that guide him in investing Harvard's money.
The number of Americans filing new claims for jobless benefits unexpectedly fell 5,000 last week, government data showed on Thursday, while a more reliable barometer of labor trends fell to its lowest in more than a year.
Annual growth in Chinese fixed-asset investment picked up to 25.5% in the first four months of the year, reinforcing expectations of further policy tightening to slow the world's fourth-largest economy.
Chinese Vice Premier Wu Yi on Thursday criticized calls in the United States for trade protectionist measures, calling such moves "irresponsible acts" that can only harm both countries' interests.
Japan's economy lost a little steam in the January-March period on a downturn in capital expenditure, reaffirming the market view that the Bank of Japan will hold off on raising rates at least for the next few months.
Stocks moved broadly higher and the Dow logged triple-digit gains as investors were encouraged by large investments revealed by several billionaire investors. "We're in a bull market without any question," said Ned Riley, CEO of Riley Asset Management. "You can't deny this market because there is so much money being invested."
High-yield bond investor focus is often on emerging markets. But on “Street Signs,” Pioneer Investments’ Andy Feltus, portfolio manager of the $2 billion Pioneer Global High Yield Fund, told CNBC’s Erin Burnett that there is more value in the U.S.
Dallas Federal Reserve President Richard Fisher said on Wednesday that he is happy with where rate policy is at present, and that inflation remains the Fed's main focus for now.
The dollar rebounded from a one-week low against the euro and rose to a three-month high against the yen with help from housing and industrial production data that added little to U.S. inflation concerns.
The pace of home construction rose 2.5% in April, beating analysts' expectations, but building permits, which signals future construction plans, sank to the lowest pace in nearly a decade, a government report showed.
A key indicator of wages in Australia rose by much less than expected last quarter, easing fears that a drum-tight labor market would stoke inflation and lead to higher interest rates.
Australian consumer confidence jumped to record highs in May, boosted by a heady mix of tax cuts, strong employment, low inflation and stable interest rates, a survey showed on Wednesday.
The dollar fell across the board on Tuesday after a report suggested U.S. inflation was well contained in April, backing a view that the Federal Reserve will likely cut interest rates later this year.
Stocks closed mixed for the second straight session but the Dow closed at a record high on tame inflation data. "Any time we get a number that shows less inflation and indicates interest rates may come down, that has a positive effect on the market," said Ted Weisberg, president of Seaport Securities.