Posted: May 29, 2013 3:36 AM
Updated: May 29, 2013 4:32 AM
NEW YORK (AP) The Dow Jones industrial average starts the day back in record territory. Wall Street resumed its rally yesterday on news that consumer confidence reached a five-year high and U.S. home prices rose the most in seven years. The Dow closed 106 points higher, the S&P 500 was up 10 and the Nasdaq gained nearly 30. Futures fell, indicating a lower opening today.
BANGKOK (AP) European stocks slipped in early trading ahead of economic indicators while Asian stock markets posted modest gains today after improving consumer confidence and rising home prices suggested the U.S. economy is rebounding. Benchmark crude oil fell below $95 per barrel. The dollar fell against the euro and the yen.
PARIS (AP) The Organization for Economic Cooperation is warning today that the global economic recovery is threatened by a shrinking economy in Europe. In its half-yearly update, the OECD says protracted weakness in Europe could have "negative implications for the global economy." The OECD also predicts the U.S. economy will continue to outpace Europe.
WASHINGTON (AP) Defense Secretary Chuck Hagel is heading to Southeast Asia, where he will discuss the escalating cyberthreat with counterparts from a number of area nations. Revelations that China used cyberattacks to access data from nearly 40 Pentagon weapons programs and almost 30 other defense technologies have increased pressure on U.S. leaders to take more action against Beijing. The disclosure, which was included in a Defense Science Board report released earlier this year, but is only now being discussed publicly.
SAN FRANCISCO (AP) Wal-Mart has pleaded guilty to charges of dumping hazardous waste, including pesticide, fertilizer and paint from its stores. Wal-Mart entered the plea in federal court in San Francisco to misdemeanor counts of negligently dumping pollutants into sanitation drains across California. As part of the plea, the company will pay $81 million, which will also cover charges in Missouri.