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Rupert Murdoch’s audacious offer for Time Warner that if it succeeds would cement his status as the most powerful U.S. media magnate.
For the first time in recent memory, financials investors are judging bank earnings by Main Street borrowing versus Wall Street trading.
European shares extended gains to close higher on Wednesday, as investors reacted to fresh growth data from China.
"My general assessment at this point is that threats to financial stability are at a moderate level and not a very high level," Yellen said.
Bank of America has offered $13 billion to settle a probe into mortgage securities sold by the bank, the Wall Street Journal reported.
Mortgage revenue fell and litigation costs increased for Bank of America in the second quarter.
U.S. stock index futures pointed to a higher open on Wall Street ahead of Fed Chair Janet Yellen's second day of testimony.
Mortgage rates are barely moving, but demand among mortgage-dependent home buyers is weakening, data show.
Asian stocks were mixed in choppy trade on Wednesday despite better-than-expected growth data from China.
For the first time in recent memory, Main Street borrowing and spending has been a bigger driver of earnings than Wall Street's trading.
Stocks may respond more to earnings news than the Fed Wednesday, now that Fed Chair Janet Yellen's first day of testimony is out of the way.
"While a newly announced partnership is good news for IBM, I think it's amazing news for Apple," said Jim Cramer.
Stocks fell Tuesday after Federal Reserve Chair Janet Yellen said the central bank could hike rates sooner than expected.
Treasurys whipsawed after congressional testimony from Fed Chair Janet Yellen indicated concern over 'substantially stretched' asset prices.
Yellen said there were signs of a production and spending rebound in the second quarter, but 'this bears close watching.'
European shares ended the day lower, with comments from U.S. Federal Reserve Chair Janet Yellen hitting sentiment.
Goldman Sachs delivered quarterly earnings and revenue that beat analysts' expectations on Tuesday.
JPMorgan reported an 8 percent drop in profit amid pullback in trading of bonds and currencies, but topped Wall Street estimates.
Markets were treated to a plateful of U.S. economic data on Tuesday. As usual, the offerings were mixed as some were benign and others sour.
U.S. stock index futures pointed to a flat open on Tuesday, ahead of Federal Reserve Chair Janet Yellen's testimony before Congress.