LONDON Banks from Italy, Ireland, Spain and Austria fared worst in the latest European Union stress test, which the region's banking watchdog said on Friday showed there was still work to do in order to boost credit to the bloc's economy.
The U.S. economy expanded less than forecast in the second quarter after a weaker start to the year than previously estimated as companies slimmed down inventories and remained wary of investing amid shaky global demand.
Bulls keep squeezing gains out of the U.S. equity market, sending the S&P 500 Index to its longest streak of monthly gains since 2014 just two weeks after reaching a record.
Exxon Mobil Corp. and Chevron Corp. missed profit and production estimates as wildfires, writedowns and weak refining margins battered oil explorers already reeling under a glut-driven price collapse.
Facebook (FB, Tech30) disclosed on Thursday that it could owe billions due to an IRS investigation into the way it moved assets to an Irish subsidiary to avoid higher taxes.