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Stocks push above 11,000 again as Greek debt concerns ease

Stocks rose Monday after concerns about Greece’s debt problems eased further over the weekend. The Dow Jones industrial average climbed back above 11,000.

A loan agreement for Greece also allowed U.S. investors to prepare for a busy week of economic and corporate earnings reports.

Over the weekend, European leaders agreed to make loans available to Greece to help the country ease its debt burden. The 16 countries that use the euro agreed to provide 30 billion euros ($40.49 billion) in loans to Greece if the country asks for money. The International Monetary Fund would contribute another 10 billion euros ($13.5 billion) if needed.

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Stocks rise slightly on more signs of growth

Fresh signs Friday that the economy continues its slow, steady recovery helped push stocks slightly higher.

Major indexes pulled back from their morning highs after Fitch Ratings cut its view on Greece’s debt. Stocks have been fluctuating in recent days on fresh concerns about the European nation’s ability to repay debt.

Earlier in the morning, stocks got a boost after reassuring statements from Greece’s finance minister and the head of the European Central Bank. Major European indexes are higher, while the dollar fell against the euro.

Stocks are getting a boost from rising commodity prices. Commodities mostly climbed on hopes demand will jump as the economy continues to improve. That has helped energy and materials companies. Chevron Corp. and ExxonMobil Corp. both rose.

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Stocks are flat as investors await the Fed’s statements and decision on interest rates

Major stock indexes were little changed Tuesday while investors awaited results from the Federal Reserve’s meeting on interest rates.

Policymakers are almost certain to keep the Fed’s benchmark rate at a historic low of near zero so investors will be focused on the Fed’s take on the economy. The central bank is expected to release a statement at 2:15 p.m. EDT following its meeting.

As the economy improves the Fed will need to start increasing rates to fend off inflation. Investors will pore over the Fed’s statement for clues about when rates might change. The Fed has repeatedly said inflation is not an immediate problem, and it plans to keep rates low for an “extended period.”

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Stocks are lower after China reported a sharp jump in inflation along with mixed U.S. economic news

Overseas markets were mixed after China said its inflation rate jumped 2.7 percent in February from 1.5 percent in January. Rapid inflation could force China to raise interest rates. That, in turn, could slow one of the world’s fastest-growing economies and put a damper on a global recovery.

Meanwhile, the Labor Department said workers filing for jobless benefits for the first time fell by 6,000 to a seasonally adjusted 462,000 last week. Economists were predicting a slightly bigger drop, forecasting new claims would fall to 460,000, according to Thomson Reuters.

But the market was unimpressed by the report. While it showed some easing of the labor market, it didn’t point to the increase in hiring that investors want to see. Stocks have traded in a narrow range since the Labor Department said on Friday that employers cut fewer jobs in February than analysts expected. The market is looking for more signs of progress.

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Mar. 11, 2010 (Business Wire) — CMG Holdings, Inc. (OTCBB: CMGO) www.cmgholdingsinc.com, a full service marketing communications company operating across sectors of commercial rights, event management and talent management, is pleased to announce that Creative Management Group Agency client Jose Lobaton has signed with the Tampa Bay Rays of Major League Baseball. Lobaton, a twenty-five-year-old switch-hitting native of Venezuela, was named Best Defensive Catcher on the San Diego Padres’ squad by Baseball America two years in a row. Rafael Perez, CMG Agency’s Senior Associate of South American Operations, manages Lobaton’s day to day career; CMG Senior Corporate Vice President, Michael Vandetty, Esq. serves as Jose’s lead agent, and CMG CEO Alan Morell assists with commercial rights endorsements. Said Mr. Perez of Lobaton’s signing with the Rays, “The toughest league division in MLB, the American League East – with the Tampa Bay Rays in it and, now, also Jose Lobaton – will certainly bring that much more excitement when Lobaton starts showcasing his abilities against the best.”

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Stocks are slightly higher after a fresh round of mergers and acquisitions news

An uptick in corporate mergers and acquisitions activity continued Monday. Insurer American International Group Inc. reached a deal to sell one of its major foreign subsidiaries to MetLife Inc. for $15.5 billion. MetLife had confirmed last month it was in talks with AIG to buy the unit known as Alico.

It’s the second major sale AIG has made this month as part of its plans to streamline operations, shed assets and repay more than $100 billion in government bailout money it received during the credit crisis.

Also, Royal Dutch Shell and PetroChina offered to buy Australia’s Arrow Energy Ltd. for $3 billion in cash and stock. Royal Dutch Shell already owns a 10 percent stake in Arrow’s international business.

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