Reference from Wall Street Journal

[Business & Finance]

Dow:7920 (-138)   NASDAQ 1625   Oil $49   Gold $890 (-$3.8)

Bank stocks fell on fading optimism for the secotr and overall economy.
Retails sales tumbled 1.1% last month. Bernanke, however, is optimistic about the economy’s prospect.

Intel’s computer sales “bottomed out” in Q1, net dropped 55%.

J.P Morgan & Wells Fargo and others are stepping up foreclosures on delinquent home-owners. That could futher depress home prices.

The U.S. is considering announcing the resultes of bank stress test to give investors a clear picture into lender.

Some big U.S. banks are getting around TARP restriction on the hiring of foreign workers by placing recruits in overseas offices.

Drug companies & hospitals are raising prices despite economic slump.

UBS & Ashmore will start a fund to by distressed emerging-maket assets, an example of a private venture to repair the markets.

eBay to spin off its Skype Web-calling business in an IPO (Initial Public Offering, first sale of stock by a private company to the public) next year rather than selling the unit.

Yahoo to cut a significant numbers of jobs as its new CEO Bartz seeks to turn the company around.

Chrysler Financial raised some of its lending rates to vehicle buyers more than 1%.


N. Korea vowed to pull out of disarmament talks.

White House leaning toward keeping secret details allowed in CIA interrogations, despite calls to make the information public.

Pirates attacked three more cargo ships off the horn of Africa.