Financial Market News

A former investment banker has been convicted in Connecticut of defrauding investment funds, established as part of the government's response to the 2008 financial crisis.

Those concerns offset an encouraging pickup in hiring by U.S. employers last month.

World shares were at a six-year high and heading for a fifth week of back-to-back gains on Friday as the ongoing tug-of-war over Crimea and uncertainty ahead of US jobs data did little to sap market confidence.

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Chinese authorities allowed the country's first corporate bond default on Friday, inflicting losses on small investors in a painful step toward making its financial system more market-oriented.

World stock markets were muted Friday as investors turned cautious ahead of the release of a key U.S. employment report and Chinese economic indicators.

The euro jumped more than 1 cent against the dollar Thursday after European Central Bank President Mario Draghi continued to brush off the threat of deflation, decreasing the chance of further easing in the short term.

Citigroup Inc. shares are still struggling to keep up with the bank's peers, trading at a discount to tangible book value five years after the financial crisis.

Money is flowing once again into muni-bond mutual funds, a turnaround from last year's exodus.

A surging stock market and rebounding home prices boosted Americans' wealth to a record in the final three months of last year, though both trends have slowed so far in 2014.

The S&P 500 hit another record, despite the ongoing crisis in Ukraine. The Dow Jones industrial average and the Nasdaq also were higher.

A surging stock market and rebounding home prices boosted Americans' wealth to a record in the final three months of last year, though both trends have slowed so far in 2014.

Specialist Peter Giacchi, right, works at his post on the floor of the New York Stock Exchange, Wednesday, March 5, 2014.

The S&P 500 finished almost flat on Wednesday, a day after closing at an all-time high, as investors shrugged off soft data on jobs and the services sector while keeping an eye on developments in Ukraine.

U.S. stock futures were edging higher Thursday morning, just days after a Ukraine-Russia military standoff threatened to derail the bull market.

Russian soldiers guard a peer where two Ukrainian naval vessels are moored, in Sevastopol, Ukraine, on Wednesday, March 5, 2014.

A U.S. Federal Reserve policymaker who has long criticized its bond-buying stimulus said on Wednesday the program has lasted too long, and there are signs it is now distorting financial markets and encouraging risk-taking.

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The dollar will easily outperform other major currencies in the coming year, according to foreign exchange strategists polled by Reuters, driven by demand for U.S. assets prompted by a shift in Federal Reserve policy.

Stocks were little changed Wednesday after a survey showed that U.S. companies added slightly more jobs in February than in the previous month.