TOP STORIES
US STOCKS FINISH STRONG
Stocks rise, pushing the Standard & Poor's 500-stock index
above 1400 for the first time in almost four years, after another
round of solid domestic economic reports. DJIA extends winning
streak, adding 59 points to end at 13253.
US DENIES REPORT OF OIL-RESERVES RELEASE
The Obama administration hasn't reached an agreement with the
U.K. to release crude oil from its emergency reserves and a report
suggesting otherwise was inaccurate, White House spokesman Jay
Carney says.
JOB-MARKET GAINS SHOW SIGNS OF SLOWDOWN
Initial U.S. jobless claims drop by 14,000 to a seasonally
adjusted 351,000 in the week ended March 10, while the February
producer price index rises by seasonally adjusted 0.4% due to
higher gasoline prices.
CISCO TO BUY NDS GROUP IN $4B DEAL
Cisco Systems plans to buy UK video software maker NDS Group for
$4 billion, plus an additional $1 billion in debt, a purchase the
technology giant says reflects its increased strategic focus on
video.
APPLE SHARES TOUCH $600 LEVEL FOR FIRST TIME
Apple shares briefly top $600, the latest milestone in their
meteoric climb, but are now off slightly with traders citing a
short-term ratings downgrade by Deutsche Bank. Expectations for the
smartphone and tablet sales have some analysts seeing a $700 price
soon.
FED BALANCE SHEET UP TO $2.896 TRILLION
The balance sheet of the U.S. Federal Reserve grows in the lpast
week as the central bank continues with a plan to adjust its
portfolio and stimulate an economy it expects to grow only modestly
this year.
SENATORS URGE MF GLOBAL TRUSTEE TO DROP BONUS PLAN
A Senate committee probing the collapse of MF Global sends a
letter asking Louis Freeh, the trustee overseeing the failed
financial firm, to abandon a plan to pay bonuses to former top MF
Global executives.
AMR CEO SEES RISKS FROM LENGTHY CHAPTER 11
American Airlines parent AMR Corp. believes it can emerge from
bankruptcy court protection by the end of the year, CEO Tom Horton
says in an interview, but cautions that a long stay in Chapter 11
poses risks.
FITCH LOWERS OUTLOOK ON BANK OF ENGLAND
Fitch Ratings lowers its ratings outlook on UK's central bank to
negative from stable, a day after the ratings firm lowered its
outlook on the country's sovereign debt.
OIL ENDS OFF LOWS AFTER RESERVES-RELEASE DENIAL
Oil futures finish a volatile session on a slightly weaker note,
paring sharp losses after White House denies report that U.S. had
agreed to release oil from emergency reserves. Nymex April crude
settles down 32c at $105.11.
UNITED TECH PLANS $3B ASSET SALES FOR GOODRICH BUY
Seeking to maintain its credit rating while not angering
shareholders, United Technologies changes financing plans for the
$16.5 billion purchase of Goodrich, announcing the sale of several
units, including its Rocketdyne rocket-engine business.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
HEARD ON THE STREET
More Than Culture Changed On Wall Street
Whether Goldman has changed for the worse is the subject of
debate. What's clear, though, is the role of finance in the economy
was transformed over the past decade--and the economy hasn't
necessarily been better for it, writes Justin Lahart.
ELECTION 2012
Biden Criticizes GOP Policy, Obama Talks Energy
The White House plunges head-long into re-election mode with
Vice President Joe Biden delivering his first official campaign
speech and President Obama delivering the latest in a series of
speeches on energy.
============ U.S. MARKETS ACTION ===========
DJIA up 58.66 points to 13252.76
NASDAQ up 15.64 points to 3056.37
S&P 500 up 8.32 points to 1402.60
10-year T-note 97 17/32 at 2.2771 yield
NYMEX Crude down $0.32 at $105.11/bbl at close
Dollar/Euro up 0.0472 at 1.30792