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U.S. stocks fell, reversing an early rally, as concern grew that the Federal Reserve will scale back its stimulus efforts if the labor market continues to improve. More>> Sales of previously owned U.S. homes climbed in April to the highest level in more than three years even as the market remained constrained by a lack of inventory and strict borrowing rules. More>> Hewlett-Packard Co. forecast fiscal third-quarter profit that topped analysts estimates after the company cut costs to counter slumping demand for desktops and laptops. More>>
Confidence returned to most Asian stock markets on Wednesday after investors were reassured that global central banks would not pare down their economic stimulus programs. More>> BOJ ended a 2-day meeting on Wed. with a decision to leave monetary policy unchanged and a promise to monitor volatile bond markets in the wake of its radical monetary policy unveiled last month. More>> On top of a slowdown in Australia's lucrative mining sector, consumer sentiment deteriorated sharply, posing a challenge to the central bank which cut interest rates to a record low. More>>
OIL (WTI 94.20 $/bbl; -1.52% / Brent 102.45 $/bbl; -1.15%): Oil fell as a government report showed U.S. gasoline supplies unexpectedly gained and crude stockpiles declined less than expected. More>> GOLD (1363.65 $/oz t; -0.87%): Gold prices dropped after FED Chairman said monetary stimulus policies will stay in place though scale backs were possible if economic indicators improve. More>> COFFEE (128.80 $/lb; -2.96%): Coffee prices fell to the lowest level since May 2010 as traders eyed a huge harvest in top grower Brazil and speculators pushed prices lower. More>>
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