Oct. 3 (Bloomberg) — Anti-Wall Street protests escalated with more than 700 arrests over the weekend in the US, thrusting the once-dwindling demonstrations into the national spotlight. Owen Thomas reports on Bloomberg Television’s “Countdown.” (Source: Bloomberg)
NEW YORK (CNNMoney) — Egyptians did it for democracy. So did people in Tunisia, Yemen, Bahrain and Syria. Now, activist groups are hoping Americans will launch their own uprising — in the form of thousands of protesters descending on Wall Street this weekend.
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A short CNN money clip on occupy wall street. Interviews with a few protestors.
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Themajor US equity indices closed lower Thursday on global economic worries and disappointing economic data reports. The Labor Department reported that unemployment claims rose 9000 to a seasonally adjusted 408000 in the week ended August 13. The Federal Reserve Bank of Philadelphia said that its business outlook survey fell to negative 30.7 in August from 3.2 in July, the lowest reading since March 2009. Officials at the New York Federal Reserve are “very concerned” about European banks facing funding difficulties in the US, according to a Wall Street Journal report, which cited a senior executive at a major European bank
The major US equity indices closed fractionally lower Tuesday, ending a three day rally as investors remained cautious about events in Libya and Japan. The Federal Reserve profited $81.7 billion in 2010, a record high, up from $53.4 billion in 2009. The bank returned $79 billion to the US Treasury, a 68% increase over 2009. The bank uses some of its profits to cover expenses before returning the rest to the federal government, as the Federal Reserve is entirely self-funded.
DeVry and Juniper Networks beat Street; Yahoo’s forecast disappoints.
Themajor US equity indices closed mixed Friday following better-than-expected results from General Electric (NYSE:GE) and Google (NASDAQ:GOOG), and a disappointing report from Bank of America (NYSE:BAC). President Obama will name General Electric’s CEO Jeffrey Immelt to head his outside panel of economic advisers, replace former Fed Chairman Paul Volcker. In corporate news, Warner Music Group (NYSE:WMG) shares are up 24.09% at $5.86 after the WSJ reported that the company has asked Goldman Sachs to seek buyers for part of all of its business. General Electric reported Q4 EPS from continuing operations of 36 cents, topping estimates of 32 cents. Revenue rose to $41.38 billion, also besting Street estimates of $39.90 billion.
TARP Special Investigator Neil Barofsky says the bailout saved Wall Street but didn’t do enough for homeowners.
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Gilead and Stryker beat Street; Juniper shares slide.
Themajor US equity indices closed lower Tuesday as bank shares widened losses and following China’s announcement that it would boost its benchmark one-year lending and deposit rate. Officials from China said that the rate would increase by 25 basis points starting Wednesday this week. In corporate news, Johnson & Johnson (NYSE:JNJ) reported Q3 EPS of $1.23, ahead of the $1.15 Street estimate. Net earnings for the company rose 2.2% year-over-year to $3.4 billion. The company raised its full-year 2010 earnings guidance to $4.70-$4.80.