European stocks rise, US expected higher after IMF reduces estimate for crisis-related lossesLONDON — European stocks rose and Wall Street was expected to open higher Wednesday as an upbeat report by the International Monetary Fund and a fall in Germany’s unemployment rate offset worries over weak U.S. consumer confidence. Asian markets were mixed. Oil rises to near $68 in midday European trade despite increase in US crude inventoriesStrengthening stock markets in Europe helped push oil prices to near $68 a barrel Wednesday despite data showing U.S. crude inventories rose for a third week, suggesting consumer demand remains weak. CIT Group shares plunge in premarket amid report lender is again on brink of bankruptcyNEW YORK — CIT Group Inc. shares plunged Wednesday as the commercial lender is reportedly trying to craft an exchange that would cut its debt and offer bondholders an equity stake in the company in a bid to avoid bankruptcy. IMF says losses from financial crisis have fallen by $600 bln to $3.4 trillion as shares riseISTANBUL, Turkey — Likely losses from the financial crisis in the three years to 2010 have been reduced by $600 billion to $3.4 trillion as the world economy grows faster than previously expected, the International Monetary Fund said Wednesday. US stock futures point to higher open ahead of updates on employment and GDP dataStock futures are moving higher after a better than expected government report suggests that the recession is ending. Fisher: Fed will need to move quickly when time comes to boost rates, battle inflationWASHINGTON — To prevent inflation from taking off, the Federal Reserve will need to start boosting interest rates quickly and aggressively once the economy is back on firmer footing, a Fed official warned Tuesday. Oil down to near $66 in afternoon European trade as stocks weaken, US economic reports eyedOil prices fell to near $66 a barrel Tuesday as European stock markets dropped slightly and investors awaited a slew of data on the U.S. economy. Officials: Fed will need to move quickly when time comes to boost rates, battle inflationWASHINGTON — To prevent inflation from taking off, the Federal Reserve will need to start boosting interest rates quickly and aggressively once the economy is back on firmer footing, Fed officials warned Tuesday. Wheat, corn, soybeans advance on the Chicago Board of Trade, oats fall; beef, pork mixedCHICAGO — Agriculture futures were mixed Monday on the Chicago Board of Trade. World stocks fall as weak US economic data undermines recovery hopes; strong yen hits TokyoSEOUL, South Korea — World stocks sank Monday after disappointing data from the U.S. undermined hopes of a fast economic recovery and a strong yen whacked Tokyo’s market. Britain’s Brown makes final conference speech to revive political fortunes before electionBRIGHTON, England — British Prime Minister Gordon Brown lashed out against youth crime in a keynote speech Tuesday at his Labour Party’s conference that he hopes can spark a revival of his foundering fortunes. Johnson & Johnson, Xerox, Abbott Labs, Applied Materials are among big market movers MondayNEW YORK — The following stocks were among those that moved substantially or traded heavily Monday on the New York Stock Exchange: Asian stocks rebound on yen fall, big takeover deals in US; Europe opens lowerTOKYO — Asian stocks bounced back Tuesday as big corporate takeovers in the U.S. gave investors a new shot of confidence and the yen retreated from a nine-month high against the dollar. Commodities hold steady after reports show drop in consumer confidence, rise in home pricesNEW YORK — Investors are holding back on making any big bets on commodities amid mixed signals on the economy. Moderate Democrats draft proposal that would shield major banks from tighter state regulationWASHINGTON — Moderate House Democrats are drafting a proposal that would continue to shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts. Center-left Socialists re-elected in Portugal on promise of economic stimulus packageLISBON, Portugal — The center-left Socialist Party has retained power in Portugal’s parliamentary elections. As Congress probes ratings agencies, allegations by 2nd former Moody’s employee come to lightWASHINGTON — A former employee of Moody’s Investors Service warned federal regulators in March about deficiencies in the credit rating agency’s monitoring of municipal bonds after being rebuffed by Moody’s executives, a document shows. Moody’s, other ratings agencies under pressure from regulators, making investors uneasyOMAHA, Neb. — The mounting regulatory pressure on Moody’s Investors Service and the other major credit rating agencies appears to be making investors nervous. Stock futures point to a lower open as investors await housing, consumer dataThe stock market headed for a modestly lower open Tuesday as investors await the latest reading on consumer confidence. Asian markets bounce back as European rally stalls; Wall Street poised to pare gainsLONDON — European stock markets fell modestly Tuesday, taking a breather after the previous day’s rally, while investors in Asia warmed to a brace of deals that had boosted confidence in U.S. and European stock markets. Asia markets mixed as US consumer confidence drop sows economic recovery doubts; Europe gainsBANGKOK — Asian stock markets were mixed Wednesday as a surprise drop in U.S. consumer confidence sowed new doubts about the pace of economic recovery. European shares gained modestly. Stocks reverse early gains after disappointing reading on consumer confidenceNEW YORK — Stocks have reversed early gains and are falling on a report showing Americans are still downbeat on the economy. Oil hovers near $67 in Asia as stocks rebound, US economic reports eyedSINGAPORE — Oil prices hovered near $67 a barrel Tuesday in Asia as regional stock markets rebounded and investors awaited a slew of data on the U.S. economy. Oil rises to near $67 in Asia as stocks rebound, US economic reports eyedBANGKOK — Oil prices rose to near $67 a barrel Tuesday in Asia as regional stock markets rebounded and investors awaited a slew of data on the U.S. economy. Dollar climbs against euro, pound on corporate deals as markets await economic dataNEW YORK — The dollar rose against the euro and the pound Monday as several corporate deals reassured investors about the economy, while markets await U.S. economic data and a key jobs report due later in the week. Oil retreats again as supply glut outweighs strength in stock market, worries over jobsOil prices which had been rising since late last week paused Tuesday on a new report showing that consumers remain leery of job losses and also growing evidence that U.S. crude supplies have grown. Dollar mixed on reports home prices continue to rise, consumer confidence unexpectedly fallsNEW YORK — The dollar inched up against the euro but fell against the pound Tuesday as investors weighed a surprise drop in consumer confidence and a third straight monthly increase in home prices. Gold, silver inch higher, buoyed by rebound in stocks; oil prices rise slightlyNEW YORK — Gold and silver prices broke a three-day losing streak Monday, rising slightly in quiet trading. Oil prices rose, while soft commodities were mixed. AP INTERVIEW: Greek opposition leader vows to fight corruption if elected PM next weekATHENS, Greece — Socialist opposition leader George Papandreou, who is widely expected to win Greece’s national election next weekend, says fighting endemic corruption and creating a stimulus package are essential if Greece is to emerge from a deep financial crisis. Stocks jump as investors see takeovers as optimistic sign for a recovery in economy
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NEW YORK — Corporate dealmaking is boosting investors’ hopes for a recovery in the economy.
