The Other Side of Life 24/7: Daily Investor Briefing: Wall Street ends higher on hopes for...

Friday, October 11, 2013

Daily Investor Briefing: Wall Street ends higher on hopes for...

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10/11/2013

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

Wall Street ends higher on hopes for government deal

NEW YORK (Reuters) - U.S. stocks extended gains to finish up on Friday, a day after the biggest rally in more than nine months as investors were hopeful for solutions to end the partial government shutdown and avoid a U.S. default.

JPMorgan posts first loss since 2004, a blow to Dimon

(Reuters) - JPMorgan Chase & Co Inc's hard-charging chief executive, Jamie Dimon, looked a bit more vulnerable on Friday after the bank took a $7.2 billion hit from penalties, expected future litigation and other legal matters, reporting its first quarterly loss since 2004.

Fed defends ongoing stimulus, admits communications blips

WASHINGTON/NEW YORK (Reuters) - Top Federal Reserve officials said on Friday their decision not to reduce the pace of stimulus was wise given the crippling U.S. government shutdown, while admitting some recent troubles in getting their policy message across.

Exclusive: U.S. watchdog readies tighter new commodity limits rule

WASHINGTON (Reuters) - The U.S. derivatives regulator is finishing a new rule to curb speculators with large positions in commodity markets that is in parts tougher than the previous version, two sources with direct knowledge of the plan said.

Washington drives U.S. consumer sentiment to nine-month low

NEW YORK (Reuters) - U.S. consumer sentiment deteriorated in October to its weakest in nine months as the first federal government shutdown in 17 years undermined Americans' outlook on the economy, a survey released on Friday showed.

Detroit says gets $350 million financing commitment from Barclays

(Reuters) - Barclays will provide cash-strapped Detroit with up to $350 million in debtor in possession financing in the wake of its municipal bankruptcy filing in July, Detroit's top official said on Friday.

Cadillac plug-in set for January debut, in more direct battle with Tesla

DETROIT (Reuters) - General Motors Co will go head to head with electric car maker Tesla Motors Inc starting in January, when a plug-in version of its luxury Cadillac brand will go on sale.

Wall Street Week Ahead: Debt-ceiling battle may overshadow earnings

NEW YORK (Reuters) - U.S. stock investors, hoping to leave politics aside to focus on fundamentals, aren't going to get their wish yet as lawmakers battle over raising the debt ceiling.

G20 urges U.S. to act quickly to avoid default

WASHINGTON (Reuters) - Finance officials from the world's biggest economies on Friday pressed the United States to head off a potentially devastating default and vowed to proceed carefully when the time comes to normalize monetary policy.

Wells Fargo profit rises but investors worry about growth

(Reuters) - Profit at Wells Fargo & Co rose by a better-than-expected 13 percent in the third quarter, as the largest U.S. mortgage lender made up for a decline in that business by releasing a large chunk of money set aside for bad loans.