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Friday, February 7, 2014

Daily Investor Briefing: Wall Street rises despite weak...

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02/7/2014

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 rises despite weak January jobs data

NEW YORK (Reuters) - U.S. stocks rose on Friday, giving the S&P 500 its first weekly gain in four as the impact of a weak reading on the labor market was dulled by harsh weather conditions and traders focused on expectations of further economic strength.

Moody's cuts Puerto Rico to junk

NEW YORK (Reuters) - Moody's on Friday cut Puerto Rico's credit rating to junk status, citing concerns about the fiscally challenged U.S. territory's weak growth and ability to access capital markets.

U.S. consumer credit posts biggest jump in 10 months

WASHINGTON (Reuters) - U.S. consumer credit in December grew by the most in nearly a year due to a sharp increase in credit card usage, a potentially positive sign for the economy.

U.S. hiring struggles to rebound from winter chill

WASHINGTON (Reuters) - U.S. job creation slowed sharply over the past two months, turning in the weakest performance in three years and raising the prospect that the economy may be losing momentum.

U.S. factories punch above weight with solid job gains

WASHINGTON (Reuters) - U.S. manufacturing stayed on solid ground in January, with employers stepping up hiring by adding 21,000 jobs to their payrolls and boosting their labor market share.

U.S. Treasury warns could default soon after February 27

WASHINGTON (Reuters) - The Obama administration warned Congress on Friday the federal government could start missing payments on its bills soon after February 27 if lawmakers do not raise a limit on public borrowing.

Exclusive: UBS seeks first-mover immunity in U.S. currency probe - sources

LONDON (Reuters) - Swiss bank UBS AG approached U.S. authorities in September with information relating to an industry-wide probe into alleged rigging of currency markets, in the hope of gaining antitrust immunity if charged with wrongdoing, sources familiar with the matter told Reuters.

U.S. jobless rate forces Yellen's hand on Fed guidance

SAN FRANCISCO/NEW YORK (Reuters) - The rapid drop in U.S. unemployment will make re-crafting the Federal Reserve's easy-money promise a top priority for new Chair Janet Yellen, who will probably avoid tying policy to specific targets in the labor market.

Apple shareholders should reject Icahn's buyback proposal: proxy advisor

SAN FRANCISCO (Reuters) - Proxy advisory firm Egan-Jones advised Apple Inc shareholders on Friday to reject activist investor Carl Icahn's demand that the iPhone maker expand its stock buyback program, a proposal that will be put to a vote this month.

Yahoo shifts Europe tax base to Ireland from Switzerland

LONDON/ROME (Reuters) - Yahoo! Inc is shifting its main European tax base to Ireland from Switzerland, a Reuters examination of company statements and accounts shows, as pressure mounts on the Alpine nation to abolish some corporate tax incentives.