Advertisement.

Paul Dykewicz

European Shares Top Five-Year Highs as Periphery Rally Continues

European shares reached a new 5-1/2 year high today as a third weekly gain for Portuguese and Spanish bonds fed improved sentiment in the region’s Mediterranean rim.

U.S. Consumer Sentiment Dips in January

U.S. consumer sentiment dipped in its first January measure, amid dimmed expectations among lower- and middle-income families.

ECB May Not Renew Long-Term Loans Amid Recovery

European Central Bank Executive Board member Benoit Coeure said the region’s banks may not need another round of the cheap long-term loans previously provided to fight the euro-area debt crisis and a recession.

Best Buy, Financials Knock Wall Street off New High

Stocks dipped modestly through late morning from yesterday’s new highs in the wake of a big drop in shares of retailer Best Buy (NYSE: BBY), which plunged 27 percent to $27.43 after the No. 1 consumer electronics chain reported weak holiday sales and forecast a bigger-than-expected decline in quarterly operating margins.

Lawmakers Unveil $1.1 Trillion Spending Bill

Negotiators in the U.S. Congress unveiled a $1.1 trillion spending bill that aims to prevent another government shutdown, as well as boost funding levels slightly for military and domestic programs — but not for “Obamacare.”