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Stocks rallied Thursday to their highest levels in at least 8 months, as investors eyed the latest batch of better-than-expected profit reports or forecasts and a report that suggested the labor market is starting to stabilize.
Goldman Sachs Group Inc executives sold almost $700 million worth of stock since the collapse of rival Lehman Brothers last year, the Financial Times said on Monday.
Reacting to recent swings in oil prices, federal regulators said on Tuesday that they were considering limits on “speculative” traders in markets for oil and other energy products.
Stocks fell in Europe and Wall Street was set to open lower as investors weighed the impact of a report that showed steeper U.S. job losses than expected.
A cautious forecast from FedEx Corp. is giving investors another reason to worry about the economy. Stocks fluctuated in a tight range Wednesday after FedEx issued a weaker-than-expected profit forecast and downbeat comments about what it sees ahead for the economy.