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• Banks, tech shares drag Wall Street lower (Reuters)
• Durable goods data underlines economic momentum (Reuters)
• New home sales fall in December (Reuters)
• Cooling China worries some multinationals (Reuters)
• Top bankers say more optimistic on euro crisis (Reuters)
• Dow approaches highest level since 2008 crisis (AP)
• Durable goods orders rise as business ups spending (AP)
• Summary Box: Discounts, higher costs ding H&M net (AP)
• Summary Box: Davos studies China's investments (AP)
• Rate on 30-year fixed mortgage rises to 3.98 pct. (AP)
• Davos leaders look to China's investments abroad (AP)
• H&M profits down on discounting, higher costs (AP)
• 16 percent of Q3 Ill. home sales were foreclosures (AP)
• Fla. hotel sues BP over oil spill claim (AP)
• Neb. governor to testify on tax cut proposals (AP)
• Calif. poised to vote on new 'clean car' regs (AP)

Banks, tech shares drag Wall Street lower (Reuters) Posted: 26 Jan 2012 08:01 AM PST Reuters - U.S. stocks pared gains on Thursday, with the S&P 500 and Nasdaq Composite negative in morning trading as bank and technology sector shares weighed.

Durable goods data underlines economic momentum (Reuters) Posted: 26 Jan 2012 07:59 AM PST Reuters - New orders for U.S. manufactured goods rose in December and a gauge of future business investment rebounded, showing the U.S. economy ended the year with more momentum than previously thought.

New home sales fall in December (Reuters) Posted: 26 Jan 2012 07:04 AM PST Reuters - New single-family home sales unexpectedly fell in December for the first time in four months and the median home price dropped, dampening some of the hopes the housing sector will boost the economy this year.

Cooling China worries some multinationals (Reuters) Posted: 26 Jan 2012 07:51 AM PST Reuters - Slowing growth in China is emerging as a concern in some of this quarter's earnings reports from U.S. multinationals that have long relied on strong growth in China and other emerging markets to drive their profits.

Top bankers say more optimistic on euro crisis (Reuters) Posted: 26 Jan 2012 08:25 AM PST Reuters - The World Economic Forum's signature closed-session on banking saw financiers increasingly hopeful that the euro zone's debt crisis can be resolved and confident of a deal to ensure Greece's now inevitable debt default will be orderly.

Dow approaches highest level since 2008 crisis (AP) Posted: 26 Jan 2012 08:52 AM PST AP - The Dow Jones industrial average is trading near its highest close since the financial crisis. Solid news on factory orders and strong earnings reports from U.S. manufacturers are helping the market at midday.

Durable goods orders rise as business ups spending (AP) Posted: 26 Jan 2012 06:46 AM PST AP - A rebound in business spending on machinery and equipment lifted orders for long-lasting manufactured goods in December, offering more evidence that the economy is gaining momentum at the start of the year.

Summary Box: Discounts, higher costs ding H&M net (AP) Posted: 26 Jan 2012 09:05 AM PST AP - PROFIT DROP: Swedish fast-fashion retailer Hennes & Mauritz AB on Thursday said fourth-quarter net income dropped 2 percent on higher raw material costs and heavy discounting to attract customers during an economic downturn.

Summary Box: Davos studies China's investments (AP) Posted: 26 Jan 2012 08:45 AM PST AP - EYES ON CHINA: Attention at Davos, the invitation-only gathering in the Swiss Alps, turned Thursday to China, and how and whether it could help developed economies in Europe and the United States avoid new recessions.

Rate on 30-year fixed mortgage rises to 3.98 pct. (AP) Posted: 26 Jan 2012 08:15 AM PST AP - The average rate on the 30-year fixed mortgage rose this week for the first time this month, though it remained below 4 percent for the eighth straight week.

Davos leaders look to China's investments abroad (AP) Posted: 26 Jan 2012 08:19 AM PST AP - Chinese investment abroad is drawing scrutiny as global leaders increasingly look to China to prop up the world economy, even though some remain wary of the country's dominance.

H&M profits down on discounting, higher costs (AP) Posted: 26 Jan 2012 01:24 AM PST AP - Swedish fashion retailer Hennes & Mauritz AB on Thursday posted a 2.4 percent drop in fourth-quarter net profits, slightly weaker than market expectations, due to higher materials costs and heavy discounting to attract customers during an economic downturn.

16 percent of Q3 Ill. home sales were foreclosures (AP) Posted: 26 Jan 2012 08:50 AM PST AP - Sixteen percent of homes sold in Illinois in the third quarter of 2011 were in foreclosure or owned by a bank.

Fla. hotel sues BP over oil spill claim (AP) Posted: 26 Jan 2012 08:32 AM PST AP - A landmark Tampa Bay area hotel claims BP has failed to pay an oil-spill claim of more than $5 million.

Neb. governor to testify on tax cut proposals (AP) Posted: 26 Jan 2012 08:55 AM PST AP - Nebraska Gov. Dave Heineman will appear before the Legislature's Revenue Committee on Thursday.

Calif. poised to vote on new 'clean car' regs (AP) Posted: 26 Jan 2012 02:12 AM PST AP - California is poised to vote on new rules that would require automakers to build cars and trucks by 2025 that emit about three-quarters less smog producing pollutants and also mandate that one of every seven new cars sold in the state be a zero emission or plug-in hybrid vehicle.

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