NEW YORK (AP) — Stocks are edging higher on Wall Street this afternoon. Trading has been muted following discouraging reports on hiring at U.S. companies and the trade deficit. Investors also appear to be holding back ahead of Friday’s jobs report and the European Central Bank’s decision on interest rate policy expected tomorrow.
WASHINGTON (AP) — The Federal Reserve’s latest regional survey shows economic activity expanding around the country. The Beige Book describes growth as moderate in seven of the Fed’s 12 districts, and modest in the rest. It shows retail sales reviving after the harsh winter, with a boost from pent-up demand for new cars. Manufacturing is expanding in all regions, along with lending. One weakness was home sales, which is being held back by a tight supply.
WASHINGTON (AP) — There could be some major paperwork headaches in store for the Health and Human Services department and many of those who signed up for health insurance under President Barack Obama’s health care law. A document provided to The Associated Press says more than 2 million people who enrolled have data discrepancies that could jeopardize their coverage. Most of the discrepancies involve details on income, citizenship and immigration status.
NEW YORK (AP) — The Financial Industry Regulatory Authority has fined investment banks Barclays, Goldman Sachs and Merrill Lynch $1 million each for providing incomplete and inaccurate information about trades they’ve conducted. Regulators use the trading data, known as “blue sheets,” to investigate potential insider trading or other manipulations of the market. The banks neither admitted nor denied the charges by settling the cases. Finra also has issued a complaint against Wedbush Securities for the same reasons. That case hasn’t been decided.
NEW YORK (AP) — A federal appeals court in New York says a judge overstepped his authority when he blocked a $285 million settlement between Citigroup and government regulators over toxic mortgage securities. The 2nd U.S. Circuit Court of Appeals in Manhattan has reversed the judge’s decision to set a trial date for the case. The three-judge panel said the Securities and Exchange Commission had demonstrated it would face irreparable harm because the judge refused to reconsider his ruling.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
