The Other Side of Life 24/7: Daily Investor Briefing: S&P 500 extends rally to day five...

Thursday, August 9, 2012

Daily Investor Briefing: S&P 500 extends rally to day five...

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08/9/2012

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

S&P 500 extends rally to day five with slim gain

NEW YORK (Reuters) - The Standard & Poor's 500 extended its rally to a fifth day on Thursday, again eking out a tiny gain as lingering expectations for economic stimulus from central banks lent support to a market lacking new catalysts.

Jobs, trade data supports modest economic growth

WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits unexpectedly fell last week, offering hope that some of last month's improvement in job growth could be sustained and give the economy a lift.

Investors question Standard Chartered's defense

LONDON (Reuters) - Standard Chartered is failing to convince some shareholders of its defense against allegations it broke U.S. sanctions on Iran, leaving them worried about possible lawsuits, fines and the loss of top executives.

JPMorgan stymied in push to get beyond "Whale" trades

(Reuters) - Jamie Dimon's whale is turning into an albatross.

China braces for second day of downbeat economic data

BEIJING (Reuters) - China's policymakers should be braced for a second straight day of downbeat economic data on Friday, with July trade numbers at risk of undershooting market forecasts and further raising expectations of fresh government action to shore up growth.

Analysis: Five years on, central banks not yet out of options

LONDON (Reuters) - Five years into the great financial crisis, central banks are still pushing back the boundaries of monetary policy only to encounter constant reminders of the limits of their power to revive growth.

Wholesale inventories fall on petroleum

WASHINGTON (Reuters) - Wholesale inventories in June recorded their largest drop since September as the value of petroleum stocks fell by the most in more than 3-1/2 years, government data showed on Thursday.

Knight losses estimated at $270 million after taxes: CEO letter

(Reuters) - Trading losses at Knight Capital Group Inc were about $270 million after taxes from the August 1 software glitch that sent the firm scrambling for a financial lifeline, Chief Executive Tom Joyce told clients in a letter.

Carlyle near deal with SocGen on TCW: sources

NEW YORK (Reuters) - Private equity firm Carlyle Group LP is close to clinching a deal with Societe Generale for the takeover of the French bank's Los Angeles-based asset management arm TCW, three people familiar with the matter said on Thursday.

Greek jobless rate hits new record, more pain ahead

ATHENS (Reuters) - Greece's jobless rate climbed to a new record in May, underlining how austerity prescribed to slash deficits and keep bailout funds flowing is hitting the economy on which recovery depends.