Business Today: Wall Street ends up on U.S. data

Click to View in Browser 06/5/2012 Wall Street ends up on U.S. data NEW YORK (Reuters) - Stocks rose on Tuesday, recovering some ground from last week's selloff as investor angst about the euro zone's fiscal crisis was overshadowed by data showing the U.S. services sector grew slightly faster than expected in May. Two Fed officials cool to policy changes St. LOUIS (Reuters) - The U.S. economic outlook has not deteriorated to the point that a further easing of monetary policy is warranted, two top Fed officials said on Tuesday, suggesting the U.S. central bank is not gearing up for action at its upcoming meeting on June 19-20. Spain says credit markets closing its door, G7 takes no action MADRID/TOKYO (Reuters) - Spain said on Tuesday that credit markets were closing to the euro zone's fourth biggest economy as finance chiefs of the Group of Seven major economies conferred on the currency bloc's worsening debt crisis but took no joint action. Chevron faces problem regaining Brazil drill permit -ANP RIO DE JANEIRO (Reuters) - Chevron , the second-largest U.S. oil company, faces problems regaining its Brazilian oil-drilling rights because it hasn't explained how it plans to "mitigate" problems at an offshore field, Magda Chambriard, Brazil's head oil regulator, told reporters on Tuesday. Barclays may recover Lehman-linked assets: ruling (Reuters) - Barclays Plc is entitled to recover roughly $1.8 billion of disputed assets and interest related to Lehman Brothers Holdings Inc's bankruptcy, a U.S. federal judge said, reversing a decision by a federal bankruptcy judge. IPO "whisper" estimates may be heard after Facebook SAN FRANCISCO (Reuters) - In the aftermath of the Facebook IPO, investor outrage - and lawsuits - have focused on "whisper" estimates of future results that underwriters shared only with some clients. Service sector picks up modestly in May: ISM NEW YORK (Reuters) - The pace of growth in the vast services sector edged up in May driven by gains in new orders, a welcome comfort after recent disappointing economic data. Euro zone in decline, U.S. and China gain LONDON/NEW YORK (Reuters) - All of the euro zone's major economies are now in various states of decline, according to business surveys that heaped more pressure on Europe's leaders to stop the region becoming the center of a new global crisis. Morgan Stanley to pay $5 million to settle CFTC case WASHINGTON (Reuters) - Morgan Stanley agreed to pay $5 million to settle charges brought by the Commodity Futures Trading Commission that it executed unlawful noncompetitive trades, the agency said on Tuesday. Baby steps to EU bank union come too late for crisis BRUSSELS (Reuters) - The European Commission will propose far-reaching powers for regulators to deal with failing banks on Wednesday, a step towards the banking union the European Central Bank has demanded to secure the euro's future. Related Video Trading at Noon: Wall Street focused on Europe Hanging by a Thread: Central Banks Equipped to Act: Zandi Economic News Two Fed officials cool to policy changes Service sector picks up modestly in May: ISM A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend