U.S. stocks climbed on Friday, but closed lower for the week, as investors weighed Wells Fargo results and readied for a slew earnings ahead.» Read More
Quarterly earnings growth and clues from companies' commentaries will tell whether there really will be a bounce back in growth in the second half.
*Wells Fargo falls, more banks' earnings due next week. Shares of Wells Fargo& Co., down 0.5 percent at $51.54, were in the spotlight as the biggest U.S. mortgage lender was the first major U.S. bank to report earnings. Wells Fargo's results will be followed next week by earnings from Citigroup, Goldman Sachs, JPMorgan Chase and Bank of America.
WASHINGTON— Commerce Department releases retail sales data for June, 8:30 a.m.; Commerce Department releases business inventories for May, 10 a.m.. BERLIN— Germany's ZEW institute releases its monthly index of investor confidence in Europe's biggest economy.
Bank of America Corp. fell$. 04 or. 2 percent, to $15.41. Morgan Stanley fell$. 07 or. 2 percent, to $31.61. US Bank fell$. 07 or. 2 percent, to $43.03.
WASHINGTON, July 11- The United States government forecast on Friday abundant U.S. and world grain, soybean and cotton supplies in the coming year, consistent with the recent steep decline in prices. Corn also fell to the lowest on an active-month basis since August 2010 before finding support near the $4 per bushel level and turning slightly higher.
Bank of America Corp. fell$. 14 or. 9 percent, to $15.30. Citigroup Inc. fell$. 26 or. 6 percent, to $46.64. Goldman Sachs fell$. 57 or. 3 percent, to $162.85.
NEW YORK, July 11- URS Corp, an engineering and construction services company with a market value of $3.5 billion, has recently held talks with industry rivals and buyout firms about a potential sale of the company, people familiar with the matter said.
Stock market volatility could continue to be somewhat elevated, particularly for small cap names, as earnings season gets underway.
July 10- A federal judge has dismissed mortgage discrimination lawsuits filed by the City of Miami against Citigroup Inc and Wells Fargo& Co, following the dismissal of a similar lawsuit against Bank of America Corp earlier this week. District Judge William Dimitrouleas dismissed the city's claims against Citi and Wells under the U.S.
July 10- A federal judge has dismissed mortgage discrimination lawsuits filed by the City of Miami against Citigroup Inc and Wells Fargo& Co, following the dismissal of a similar lawsuit against Bank of America Corp earlier this week. He referred to his reasoning in the Bank of America case, where he said Miami lacked standing to sue.
July 10- When you fly several times a month, as Gabriella Ribeiro Truman does, finding a comfortable place to wait for a flight and grab a snack can make traveling a lot more enjoyable.
For some of Wall Street's biggest names, quarterly results are expected to be weak, while the future is pockmarked with uncertainty.
Bank of America Corp. fell$. 16 or 1.0 percent, to $15.45. Citigroup Inc. fell$. 53 or 1.1 percent, to $46.85. Goldman Sachs fell $1.57 or 1.0 percent, to $163.10.
Bank of America Corp. fell$. 21 or 1.3 percent, to $15.39. Citigroup Inc. fell$. 53 or 1.1 percent, to $46.86. Goldman Sachs fell $2.48 or 1.5 percent, to $162.19.
*Qatar sells about 5 pct of LSE, cutting stake by a third. LONDON, July 10- Qatar has sold a 5 percent stake in the London Stock Exchange for 260.1 million pounds, cutting its holding by a third and making a profit of around 20 percent, according to Reuters calculations.
*China copper imports fall 7.9 pct on month in June. *Codelco to cancel some shipments to China in H2- sources. In top copper consumer China, data showed its trade performance improved in June but still missed market forecasts, reinforcing expectations that Beijing will have to unveil more stimulus measures to stabilize the economy.
U.S. is using a new tactic for money laundering crack downs: asking suspects in a range of cases to help them follow the money back to their bankers.
Citigroup's likely $7 billion settlement isn't enough to dissuade CLSA bank analyst Mike Mayo from a "buy" rating.
ST. LOUIS, July 9- U.S. prosecutors are using a new tactic to crack down on banks that fail to fight money laundering: systematically asking suspects in a wide range of criminal cases to help them follow the money back to their bankers.
Talks to resolve probes into shoddy mortgage securities sold by the bank remain at a standstill, according to sources.