IT’S a little early to be writing eulogies since the changeover won’t actually take place until next February, but last week, US President George W Bush announced that Ben Bernanke will succeed Alan Greenspan as chairman of the Federal Reserve in 2006.

Wall Street staged an impressive rally today after the nomination of top White House economist Ben Bernanke as the next Federal Reserve chief.

Most US stocks closed higher today after Federal Reserve Chairman Alan Greenspan said the economy has weathered the increase in oil prices “reasonably well”.

Stocks rose today after Federal Reserve Chairman Alan Greenspan delivered an upbeat assessment of the economy and Wall Street focused on the solid earnings reported by a growing number of companies.

Stocks drifted to a mixed finish in the United States today as Wall Street worried about the impact of high oil prices on the nation’s trade deficit and Intel Corp’s bullish sales forecast prompted some profit-taking.

Stocks in the United States rebounded today as bullish congressional testimony from Alan Greenspan and anticipation for a strong mid-quarter update from Intel Corp brightened Wall Street’s mood and overshadowed a surge in oil prices.

Stocks slumped in the United States today as the Bush administration said the country’s economy would likely grow at a slower pace than forecast six months ago – an assessment that eclipsed positive corporate news and lower oil prices.

Wall Street gave up a substantial early gain and staggered to a mixed finish today after a Federal Reserve official warned that interest rates might continue to climb.

Stocks wobbled to a mixed close today as a government report showed an improved supply outlook for oil, and the first day of earnings season forced investors to shift their focus to company news.

Stocks got a lift from Federal Reserve Chairman Alan Greenspan today, rising modestly after he said the recent climb in oil prices was already curbing demand for crude. Oil futures dropped sharply on the news.

The chairman of the US Federal Reserve, Alan Greenspan, today embraced the notion of overhauling the tax system in the United States and said that some form of a consumption tax – such as a national sales tax – could spur greater economic growth.

Falling oil prices and a broker upgrade of the semiconductor sector pushed stocks higher today, enticing buyers back into the market after the previous session’s losses.

US stocks finished mixed in a volatile session today as investors worried that the continued fall of the dollar would spur inflation and damage the economy.

An afternoon rally spurred by a drop in oil prices pushed stocks higher today, bringing investors back into the market despite lingering concerns over the strength of the dollar and the nation’s trade deficit.

Stocks rebounded moderately in New York today as a stronger than expected retail sales report showed that higher oil prices are not scaring consumers off spending.

US stocks soared today as investors welcomed strong earnings from financial services companies, upbeat economic data and some reassuring news from the Federal Reserve.

US investors adopted a wait-and-see attitude on the economy, despite Federal Reserve Chairman Alan Greenspan’s improved assessment, and sent stocks modestly lower today.

A brokerage downgrade of several semiconductor companies pressured tech shares in New York today, while the broader market was little changed as a jump in jobless claims offset investors’ relief over declining oil prices.

The US Federal Reserve boosted a key short-term interest rate by a quarter-point today as the central bank continued its campaign to keep inflation under control.

BRIAN O’MAHONY’S praise for US Federal Reserve Board chairman Alan Greenspan (Irish Examiner, July 3) is misplaced, as any objective analysis of the US economy would indicate.

US Stocks fell today after three days of gains as investors dealt with the likelihood of interest rates rising significantly higher than expected when the Federal Reserve meets later this month.

Wall Street welcomed a surprisingly forthright statement on interest rates from Federal Reserve Chairman Alan Greenspan today, with investors sending stocks higher in acceptance of his tough stand on energy prices and inflation.

Stocks slumped on Wall Street today as upbeat labour market data was eclipsed by interest rate worries, lacklustre retail sales and a stern warning about the US budget deficit from Federal Reserve chairman Alan Greenspan.

New York: Wall Street regulators should punish wrongdoing while also avoiding over-regulating financial markets, Federal Reserve Chairman Alan Greenspan said.

US investors today used the latest round of disappointing economic data as an excuse to gather profits and send stocks lower.

Stocks chalked up modest gains today in unusually light trading before Federal Reserve Chairman Alan Greenspan’s congressional testimony.

IT looks as if the meteoric rise of the euro against the dollar may be over. While the Bush gang favoured a weaker dollar, the fall to $1.29 to the euro puzzled some.

Encouraging words from Federal Reserve Chairman Alan Greenspan sent stocks soaring today as investors looked forward with renewed enthusiasm to upcoming earnings reports.

EUROPEAN Central Bank (ECB) President Wim Duisenberg’s reputation rose and fell with the euro, and as a sign of his mixed legacy he leaves office today with the 12-nation currency where he found it: worth about $1.17.

INCREASED nervousness about the pace and state of economic recovery in the US has pushed the euro back up from its recent lows of $1.13 to over $1.15 against the world’s leading currency.

EUROPEAN government bond yields surged and the dollar rose to an 11-week high against the euro after Federal Reserve chairman Alan Greenspan said US economic growth is poised to accelerate.

US Federal Reserve chairman Alan Greenspan signalled he is ready to keep US interest rates low for a "considerable" period of time to lift the economy and prevent a dangerous fall in prices.

OVERALL the performance of Alan Greenspan mid week, when he announced the latest cut of 0.25% in US interest rates, was more crucial to global sentiment than the cut itself.

The Dow Jones industrial average climbed 147.21, or 1.8%, to close at 8,512.01.

SOBER comments about the economy

LONDON shares dived yesterday as a gloomy forecast

WITH US equity markets having crashed to below their September lows and, in so doing, managing to breach support levels that date back to the 1987 crash, this week's address by Alan Greenspan to public representatives on the state of the economy was highly significant.

INVESTORS breathed a sigh of relief yesterday as equity markets halted their slide on guarded comments from the chairman of the Federal Reserve, Alan Greenspan.

COMMENTS from Federal Reserve chairman Alan Greenspan took US stocks off their lows at midsession yesterday, with the Dow Jones industrial average losses easing and the Nasdaq composite index holding a solid gain.

Wall Street wobbled again today, dropping sharply at the opening, stabilising on soothing words from Federal Reserve chairman Alan Greenspan and then falling sharply again in late afternoon amid investors’ continuing anxiety about the market’s own dynamics.

Federal Reserve Chairman Alan Greenspan foresees no quick end to sluggish economic growth in the United States and has signalled that the Fed stands ready to cut interest rates for a seventh time this year.