Tuesday, June 03, 2008
U.S. stocks stage modest bounce back from Monday's drop
U.S. stocks stage modest bounce back from Monday's drop
U.S. stocks maintain slight gains after the government reports a rise in
April factory orders, but the bid higher is curbed by a report that
Lehman Brothers Holdings Inc. might have to raise additional capital.
The Fed: Bernanke defends the dollar
Breaking a long-standing tradition of relative silence on the dollar,
Fed Chairman Ben Bernanke signals discomfort with the weak dollar's
ramifications for the domestic U.S. economy.
GM to close four truck plants, shifting product mix toward cars
General Motors Chief Executive Rick Wagoner says the auto maker plans to
boost its product mix to 60% cars from 50%, with four plants that make
trucks slated to close.
Lehman mulling capital raise as Wall Street firm faces loss
Lehman Brothers is facing its first quarterly loss since it went public
in 1994, and it's considering raising up to $4 billion from the sale
common stock, according to a report Tuesday.
Currencies: Dollar firms as Bernanke signals concerns
The dollar bounces firmly higher after Federal Reserve Chairman Ben
Bernanke signals discomfort over the weakness in the greenback.
