U.S. stock market next turns to technology results

Date: Friday, October 9, 2009

U.S. stock market next turns to technology results

A leader in the stock market's lengthy climb, technology's role in the rally
will soon be tested, with Intel's third-quarter financial results next week
expected to shed light on conditions for the industry at large going
into the holiday shopping season.

BERNANKE: TIGHTER RATES COMING ON IMPROVED OUTLOOK

The Federal Reserve will reverse course and tighten monetary policy
'when the economic outlook improves sufficiently,' Chairman Ben
Bernanke says.

TRADE GAP NARROWS ON DROP IN CRUDE IMPORTS

The U.S. trade gap unexpectedly narrowed in August to $30.7 billion on
a big drop in imports of crude oil, the Commerce Department reports.

BANKS CUTTING BACK ON LOANS TO BUSINESSES

U.S. banks are reducing their lending at the fastest rate on record,
tightening the credit squeeze and threatening to leave many otherwise
viable businesses unable to expand their businesses, meet their
payroll or refinance their debt.

TREASURY URGED TO SCALE UP MORTGAGE MODIFICATIONS

A key government watchdog group says the Treasury Department must
expand the scope and scale of a $50 billion Obama administration
program seeking to help troubled homeowners avoid becoming delinquent
on their homes.