Economy News
In blow for India, S&P affirms negative rating outlook
MUMBAI - Standard & Poor's reiterated its negative outlook on India's credit rating, which is one notch above "junk", warning of the need to follow through on reforms and dealing a blow to a government that had recently pitched for an upgrade.
Obama budget cuts deficit $1.1 trillion over decade - CBO
WASHINGTON - Near-term U.S. deficits under President Barack Obama's 2014 budget plan would be higher than those forecast by the Congressional Budget Office this week but $1.1 trillion lower than what it estimates over the coming decade, CBO said on Friday.
IRS chief declines to identify employees involved in scandal
WASHINGTON - The outgoing head of the U.S. Internal Revenue Service angered Republican lawmakers on Friday by resisting their demands that he identify who at the tax-collection agency had inappropriately targeted conservative groups for extra scrutiny.
After tough week, Obama tries to change the subject to jobs
BALTIMORE - President Barack Obama on Friday sought to turn the spotlight from controversies threatening to swamp his agenda back to his top priority - the economy - and announced he will try to cut in half the time it takes to get federal approval for large job-creating projects.
China president takes charge of sweeping economic reform plans - sources
BEIJING - Chinese President Xi Jinping has taken charge of drawing up ambitious reform plans to revitalise the economy, sources close to the government said, shunning policy stimulus for fear it could worsen local government debt and inflate property prices.
U.S. May consumer sentiment highest in nearly 6 years
NEW YORK - Americans felt better about their economic and financial prospects in early May as consumer sentiment rose to the highest level in nearly six years, an encouraging sign after other recent data had suggested broader U.S. growth is cooling.
Every cent helps: euro zone explores scrapping smallest coins
BRUSSELS - Saving pocket change may not end the euro zone crisis, but the European Commission hopes that scrapping the smallest coins could help penny-pinching governments cut costs.
Risks for Cyprus are "unusually high", adoption of austerity plan imperative -IMF
NICOSIA - The IMF said on Friday that risks for Cyprus were "unusually high" given its weak banking sector and economy and the island's full adoption of an economic austerity plan was imperative.
Rate cut expectations rise after inflation surprise: Reuters poll
MUMBAI - The unexpectedly sharp fall in the wholesale inflation for April has prompted many economists to change their policy rate cut views, according to a Reuters poll on Thursday.
U.S. Fed hawks call for retreat from mortgage stimulus
HOUSTON/MILAN - A trio of hawkish regional Federal Reserve officials are calling for the U.S. central bank to stop buying mortgage-backed bonds, citing the recent improvement in the housing market.
Markets
- Asia
- U.S.
- Europe
- Sectors
| DOW | 15,354.40 |  +121.18 |
+0.80% |
| S&P 500 | 1,667.47 | +17.00 |
+1.03% |
| NASDAQ | 3,498.97 | +33.72 |
+0.97% |
| TR US Index | 151.30 | +1.53 |
+1.02% |
Sector Summary
| Energy | +1.23% |
| Basic Materials | +0.25% |
| Industrials | +0.75% |
| Cyclical Goods & Services | +0.53% |
| Non-Cyclical Goods & Services |  -0.12% |
| Financials | +0.91% |
| Healthcare | +0.16% |
| Technology | +0.81% |
| Telecoms | -0.60% |
| Utilities | +0.41% |
Consumer stocks shine in emerging market gloom
LONDON - A broad collapse of company profits in the developing world shows no sign of abating, forcing investors to tilt portfolios towards sectors such as healthcare or consumer goods where margins are more robust.
REUTERS SHOWCASE
Revitalising China
China president takes charge of sweeping economic reform plans - sources. Full Article
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
