As China's recovery loses momentum, expectations are growing that Beijing will unleash fresh stimulus to ensure delivery on its growth target.» Read More
Trading volume was light ahead of the Labor Day holiday weekend. KEEPING SCORE: The S&P 500 fell a point to 1,998 as of 12:19 p.m. Eastern. THE QUOTE: Trading volumes were "extraordinarily light," as many people in the financial sector traditionally take time off the last week of August, said Lawrence Creatura, portfolio manager at Federated Investors.
It was a big round-number day for the stock market. "There's perhaps a small psychological boost when you get over such a significant price level," said Cameron Hinds, regional chief investment officer at Wells Fargo Private Bank.
FRANKFURT, Germany— Worries about the economy are rippling through Europe. Downbeat data have pushed the European Central Bank closer to more drastic action to keep the hesitant recovery from stalling completely.
Investors appear to be putting their money on the likelihood of more stimulus measures from the European Central Bank to keep the eurozone's shaky recovery from stalling. They will be closely watching ECB President Mario Draghi's speech for more clues later Friday at a global banking conference in Jackson Hole, Wyoming.
NEW YORK— The stock market rose for a third straight day Wednesday despite a report from the Federal Reserve that showed a growing chorus of central bank officials willing to raise interest rates sooner rather than later. In the bond market, prices fell and yields rose as investors prepared themselves for higher interest rates.
The Standard& Poor's 500 index closed within six points of its all-time high Tuesday, less than two weeks after slumping on concerns about rising tensions in Iraq and Ukraine. Home Depot, the nation's largest home improvement retailer, rose after raising its annual profit forecast following a strong spring selling season.
Dollar General jumped after making a bid for retailer Family Dollar, a rival discount store. The offer topped a bid made last month by Dollar Tree, another discount retailer. Investors had become skittish on concerns that the tensions between Russia and Ukraine were escalating.
Are Target's troubles merely anomalies, or symptomatic of the economy's problems, despite strong earnings reports?
Chris Tinker, founder of Libra Investment Services, discusses the 708 million euro ($950 million) hit related to Credit Agricole's stake in troubled Banco Espirito Santo.
Credit Agricole said it took a $950 million hit related to its stake in Espirito Santo that nearly wiped out the bank's second-quarter net profit.
Portugal bailed out Banco Espirito Santo (BES), its biggest bank. Get used to seeing this.
China posted better-than-expected GDP figures, but economists say there's little evidence of progress in rebalancing its economic growth model.
Commerzbank may pay between $600 and $800 million to resolve investigations into its dealings with countries under U.S. sanctions, sources said.
NEW YORK, July 9- German lender Commerzbank AG is expected to pay between $600 million and $800 million to resolve investigations into its dealings with Iran and other countries under U.S. sanctions, sources familiar with the matter said.
BNP pleaded guilty to conspiring to violate U.S. sanctions, as part of a nearly $9 billion settlement in which it admitted to breaking embargoes.
Strong economic growth and rising inflation have raised the odds that Malaysia's central bank could hike rates for the first time in three years.
NEW YORK, July 9- BNP Paribas, for the second time in nine days, pleaded guilty on Wednesday to conspiring to violate U.S. sanctions, as part of a nearly $9 billion settlement in which the French bank admitted to breaking embargoes against Sudan, Cuba and Iran. District Judge Lorna Schofield accepted the plea at a hearing in Manhattan federal court.
U.S. authorities have begun settlement talks with Commerzbank over its dealings with blacklisted countries, the New York Times reports.
Milk prices may unravel the popular carry trade of using currencies such as the yen or U.S. dollar to buy higher-yielding New Zealand dollar assets.
Singapore, an Asian hub for banking and finance, is ramping up its bid to become a center for gold trading that may one day rival London.