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Stocks finished modestly higher Thursday, posting a three-day rally, thanks to a better-than-expected jobless claims report and as financials rallied following BofA's earnings report. Still, gains were largely muted throughout the session as investors hesitated to jump in following the recent run-up in stocks.
Stocks closed near highs of the session Wednesday with the S&P finishing at its highest level since July 2011, buoyed by an optimistic report on Greece, which added fuel to an earlier rally after a better-than-expected housing market report.
Stock index futures cut their gains to turn flat Wednesday following a handful of tepid economic news and amid fears over the ongoing European debt crisis, but Goldman Sachs earnings helped limit losses.
Inflation in the world’s top oil exporter Saudi Arabia has slowed to a four-year low of 5 percent in 2011, despite a significant ramp-up in government spending in the wake of the Arab Spring.
Futures held their sharp gains Tuesday after the long holiday weekend, buoyed by a successful Spanish debt auction and higher than expected growth in China, but weaker-than-expected earnings from Citi limited gains.
Stocks bounced off their lows Friday, but still ended in negative territory amid expectations of an imminent S&P ratings downgrade of several euro zone countries. Despite the day's losses, stocks still posted a gain for the week.
Futures added to their losses Friday amid worries over a possible downgrade of several euro zone countries by the S&P and after JPMorgan posted earnings that missed on revenue outlook.
President Barack Obama announced on Friday that he will ask Congress for greater power to shrink the federal government, and his first idea is merging six sprawling trade and commerce agencies whose overlapping programs can be baffling to businesses.
Stocks closed higher in thin trading Thursday, led by strength in materials and industrials, erasing losses after several weak economic reports from earlier in the session.
Futures came off their best levels Thursday after a weaker than expected jobless claims and a disappointing retail sales report, but held some gains after successful bond auctions in Europe which also pushed European stocks higher and sent the euro to a session high.
Stocks ended near session highs Wednesday, but still closed narrowly mixed, as worries over the euro zone and declines in the energy sector limited gains.
Futures edged lower Wednesday as the euro slipped following negative comments by Fitch and following the S&P 500's sharp rally in the previous session.
Wall Street kept its perfect streak in 2012 alive, closing solidly higher as investors looked to move beyond Europe's debt problems and gave U.S. banks a vote of confidence.
US stock index futures pointed to a higher open on Wall Street on Tuesday tracking European markets and buoyed by a positive outlook from US aluminum giant Alcoa after the bell on Monday.
Is Wall Street cutting bonuses enough? That is a question worth considering amid chatter that investment banking bonuses are expected to be the lowest they have been since 2008 amid lackluster profits.
Stocks squeezed out small gains Monday, adding to the previous week's robust rally, as investors turned their focus to fourth-quarter earnings season.
Futures gained Monday as French President Nicolas Sarkozy and German chancellor Angela Merkel met in Berlin to discuss ways to boost growth in the euro zone and to finalize a deal to increase fiscal coordination within the currency union.
Iranian President Mahmoud Ahmadinejad’s five-day tour of Latin American countries comes at a time of rising tensions with the United States and growing international isolation. The US State Department described Iran’s search for friends as “desperate,” while US Treasury Secretary Timothy Geithner is expected to ratchet up the pressure in a visit to China and Japan.
Stocks closed mixed Friday, as even a strong government employment report was not enough to offset ongoing worries over the euro zone debt crisis. Still, all three major averages logged strong gains for the shortened trading week.
The euro has dipped below 1.27, and these investors say it still has a ways to go.