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Pallavi Gogoi

Construction workers build an apartment complex in Lawrence, Kan., Wednesday, May 16, 2012. U.S. builders started work on more homes and apartments last month and requested more permits to build single-family homes. The increases suggest the battered housing market is healing. The Commerce Department said Wednesday that builders broke ground in April at a seasonally adjusted annual pace of 717,000 homes. That's a 2.6 percent increase from an upwardly revised March figure and near January's three-year high of 720,000. Construction rose for both single-family homes and apartments. (AP Photo/Orlin Wagner)

Stocks higher on housing but Europe worries linger

Last updated Wednesday, May 16, 2012 - 10:08am

NEW YORK -- Hopes that the U.S. housing market is starting to recover and the economy is on the mend sent stocks higher on Wall Street.

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Neil Catana, right, works with fellow traders on the floor of the New York Stock Exchange Thursday, May 3, 2012. Markets were on edge Friday ahead of crucial U.S. jobs figures and weekend elections in France and Greece that could have a big bearing on how Europe's debt crisis plays out over the coming months. (AP Photo/Richard Drew)

Stocks open lower after weak April jobs report

Pallavi Gogoi The Associated Press

Last updated Friday, May 4, 2012 - 10:14am

NEW YORK — U.S. stocks opened lower Friday after the government reported that hiring slowed in April, confirming a slew of data during the month that showed the economy was weakening.

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In a Feb. 8, 2012 photo Trader Gregory Rowe, left, works on the floor of the New York Stock Exchange. Wall Street was poised for fairly big losses at the open Wednesday April 4, 2012, with Dow futures and the broader S&P 500 futures 0.7 percent lower. (AP Photo/Richard Drew)

US stocks fall as Fed backs away from stimulus

Pallavi Gogoi The Associated Press

Last updated Wednesday, April 4, 2012 - 9:00am

NEW YORK — Stocks opened sharply lower on Wall Street Wednesday after the Federal Reserve signaled that it may be less willing to provide more stimulus to the U.S. economy.

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FILE -- In a March 6, 2012 file photo traders work on the floor at the New York Stock Exchange in New York. Wall Street Thursday March 22, 2012, appeared headed for losses, with Dow Jones industrial futures down 0.2 percent and S&P 500 futures shedding 0.2 percent. (AP Photo/Seth Wenig, File)

Stocks open lower on slowing growth in China

Pallavi Gogoi The Associated Press

Last updated Thursday, March 22, 2012 - 9:20am

NEW YORK — Stocks opened lower Thursday on more signs that China’s economy is weakening and Europe is slowing.

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FILE - In this March 2, 2012 file photo, traders David O'Day, left, and Neil Catania confer on the floor of the New York Stock Exchange. Worries over China's economic growth and whether Greece can entice enough private creditors to participate in a bond swap deal weighed on markets Monday, March 5, 2012, at the start of a busy week which culminates with closely-watched U.S. jobs figures. (AP Photo/Richard Drew, File)

Stocks broadly lower on China, Greece worries

Pallavi Gogoi The Associated Press

Last updated Monday, March 5, 2012 - 10:54am

NEW YORK -- Worries over slowing economic growth in China and concern that a Greek bond exchange deal may not be going according to plan are pushing U.S. stocks lower Monday morning.

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In this Jan. 30, 2012 photo, specialists Mark Otto, left, and Christopher Malloy work on the floor of the New York Stock Exchange. Markets clawed back lost ground Tuesday, Jan. 31, 2012, on hopes that Greece is heading toward a conclusion of debt-reduction talks with private creditors and that it may secure its second bailout package this week. (AP Photo/Richard Drew)

Stock open higher on hopes of Greek resolution

Pallavi Gogoi The Associated Press

Last updated Tuesday, January 31, 2012 - 10:10am

NEW YORK -- U.S. stock markets are reclaiming lost ground on hopes that Greece is heading toward a resolution in the European debt-reduction talks with private creditors.

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FILE - In this Dec. 20, 2011 file photo, traders Gerard Farco, left, and Richard Cohen, right, work on the floor of the New York Stock Exchange. Asian stock markets were mostly lower Thursday, Dec. 29, 2011, as traders shied away from riskier assets as the year drew to a close, but hopes for a successful bond issue in Italy boosted shares in Europe.(AP Photo/Richard Drew, File)

Stocks open higher; euro drops to new lows

Pallavi Gogoi The Associated Press

Last updated Thursday, December 29, 2011 - 11:10am

NEW YORK -- Stocks are opening higher after the government reported that the number of claims for unemployment benefits remained at a level consistent with modest job growth.

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Stocks open lower as European worries persist

Pallavi Gogoi The Associated Press

Last updated Wednesday, December 28, 2011 - 9:30am

NEW YORK -- Stocks are opening slightly lower as worries over the European debt crisis persist, overshadowing a strong auction of Italian government debt.

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FILE - In this Dec. 12, 2011 file photo, specialist John O'Hara, right, works on the floor of the New York Stock Exchange. European shares eked out modest gains Tuesday, Dec. 27, 2011, despite an earlier retreat in Asia, amid hopes of a solid Christmas trading period around the world, but Italian shares dipped as the country's key borrowing rate ratcheted up to worrisome levels. (AP Photo/Richard Drew, File)

Stocks edge higher even after home prices drop

Pallavi Gogoi The Associated Press

Last updated Tuesday, December 27, 2011 - 11:25am

NEW YORK -- Stocks eked out slight gains early Tuesday as the last week of trading in 2011 got off to a quiet start.

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Stocks open higher on encouraging economic reports

Pallavi Gogoi The Associated Press

Last updated Thursday, December 22, 2011 - 9:14am

NEW YORK -- Stocks are rising after the opening bell following encouraging signs that the U.S. economy is growing at a faster clip than earlier in the year and fewer people are applying for unemployment benefits.

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Banks say fewer consumer loans are going bad

Eileen AJ Connelly, Pallavi Gogoi, The Associated Press

Last updated Wednesday, January 19, 2011 - 10:28pm

NEW YORK — Americans are starting to get their household finances in order.

In an encouraging round of earnings reports, major banks say fewer mortgages are going bad, credit card defaults are down and more people are paying the bills on time.

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Treasury to cut ties with AIG

Pallavi Gogoi, The Associated Press

Last updated Friday, January 14, 2011 - 8:33pm

NEW YORK -- The government will wind down its largest and most complex rescue from the 2008 financial crisis, a $182 billion package to save insurer AIG, by selling stock over the next two years.

The plan could net taxpayers billions in profits.

American International Group Inc. paid its $21 billion outstanding balance to the New York branch of the Federal Reserve on Friday and converted preferred stock owned by the Treasury Department into more than 1.6 billion shares of common stock that can be sold on the open market.

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Citigroup illustrates banking's recovery

Pallavi Gogoi, The Associated Press

Last updated Monday, October 18, 2010 - 7:25pm

NEW YORK -- Citigroup Inc., one of the worst-hit banks during the financial crisis, posted its third straight quarterly profit in a sign that major banks and their customers are starting to find their footing.

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