U.S. stocks rose, giving the Standard & Poor’s 500 Index its first back-to-back weekly gain since April, amid speculation central banks will take steps to stimulate growth and contain a prolonged debt crisis in Europe.
All 10 S&P 500 groups advanced. JPMorgan Chase & Co. (JPM) surged 4 percent, pacing gains among financial companies, after Chief Executive Officer Jamie Dimon testified about his bank’s $2 billion trading loss. Cabot Oil & Gas Corp. (COG) jumped 9.7 percent as a rally in natural-gas prices helped lift energy shares. Johnson & Johnson (JNJ) climbed 4.8 percent after getting clearance for its Synthes Inc. acquisition. Facebook Inc. (FB) surged 11 percent, its first weekly increase since its May debut.
Asian Stocks Drop on China PMI, Fed Stimulus Concerns
Asian stocks declined, with the regional benchmark index heading for its biggest drop in five weeks, after China’s manufacturing output unexpectedly contracted and amid speculation the Federal Reserv
Dollar Index Touches Almost 3-Year High Before Jobs, Home Data
The Dollar Index touched an almost three-year high before U.S. data forecast to show jobless claims decreased and home sales rose, adding to the case for the Federal Reserve to reduce monetary stimul
Egypt's EFG Hermes says Q1 net profit jumps 27 pct
EFG Hermes, Egypt's biggest investment bank, saw net profit jump 27 per cent in the first quarter from the same period a year earlier, the bank said on Wednesday.
ICIEC supports member countries by more than $3 billion in 2012
Under the auspices of the President of the Republic of Tajikistan, the Board of Governors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), member of Islamic Devel