Still buoyed by gains from E-Trade Financial Corp., shares of U.S. financial companies posted modest gains Friday, reversing earlier losses after the release of early results of European banks' stress tests.
For all his tough talk about excessive pay for bankers, the Obama administration's pay czar let the executives go without a fight.
World stock markets were up Friday after Europe showed signs of growth and U.S. stocks rallied to a two-week high, lifted by better-than-expected results from industry giants like Caterpillar and Microsoft .
More than a year ago, in need of cash after its GE Capital lending unit was overwhelmed by the financial crisis, General Electric did the nearly unthinkable - it slashed its dividend for the first time since the Great Depression.
Treasury prices declined on Friday, pushing yields up, as U.S. stocks gained ground, resuming focus on positive corporate earnings and pushing the results of stress tests on European banks to the background.
The Treasury department on Friday said it will sell another 1.5 billion Citigroup Inc.
By STEPHEN BERNARD Stocks wavered in a tight range Friday as investors sorted through the latest batch of earnings looking for clues about economic growth.
The Scottish minister who authorized the release of the Lockerbie bomber said Friday he won't appear at a U.S. Senate hearing on the case because he has no new information to offer.
Stocks were set to extend gains Friday after more upbeat earnings lifted expectations that the economy is steadily improving.
The stock market had its best day in over two weeks on Thursday, with the Dow gaining more than 200 points.
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