TOP STORIES
U.S. STOCKS CLOSE AT FRESH RECORDS
The Dow Jones Industrial Average and the S&P 500 rose to
record highs after China's central bank cut interest rates and the
European Central Bank's president reiterated that the institution
was ready to expand its stimulus program. The Dow industrials added
91 points to 17811.
CHINA CUTS INTEREST RATES
China's central bank succumbed to political and market pressure
and cut interest rates for the first time in more than two years,
in a sign that the country's leadership is leaning toward more
sweeping measures to bolster flagging economic growth.
BOEHNER SAYS WON'T 'STAND IDLE' ON OBAMA'S IMMIGRATION PLAN
House Speaker Boehner vowed to respond to President Obama's
decision to bypass Congress and shield as many as five million
illegal immigrants from deportation.
HOUSE GOP FILES LAWSUIT OVER OBAMA'S HEALTH LAW
House Republicans filed a long-threatened lawsuit against the
Obama administration over implementation of its health-care law,
claiming executive overreach by President Barack Obama.
ECB SIGNALS AGGRESSIVE ACTION ON INFLATION
European Central Bank President Mario Draghi sent a strong
signal that the central bank is ready to "step up the pressure" and
expand its asset-purchase programs if inflation fails to show signs
of quickly returning to the ECB's target.
DOW CHEMICAL, THIRD POINT SETTLE BOARD DISPUTE
Dow Chemical and Third Point settled a looming proxy fight by
adding four new directors next year, including two the activist
investor had proposed. Dow Chemical shares up 2%.
HONDA IN TALKS WITH SUPPLIERS BESIDES TAKATA
Honda Motor is in talks with several suppliers besides Takata
about securing replacement parts for vehicles recalled over
defective Takata-made air bags.
FORD'S ALUMINUM-BODIED F-150 TRUCK MORE GAS EFFICIENT
Ford Motor said its aluminum-bodied F-150 pickup mated with a
new 2.7-liter, turbocharged V6 can achieve 22 mpg overall and 26
mpg on the highway, the best of any gasoline-fueled pickup
available.
TV PROGRAMMERS GRANTED STAY IN FCC DISPUTE
A federal appeals court handed TV channel-owners a preliminary
victory in their standoff with the FCC over disclosure of
programming contracts, raising the prospect of further delays to
the agency's review of big pay-TV industry mergers.
DUDLEY DENIES 'SERIOUS PROBLEMS' IN FED'S REGULATION
New York Fed President William Dudley defended the regulator's
oversight of large financial firms amid tough questioning from
Senate Democrats who accused the Fed of kowtowing to the biggest
banks.
OIL PRICES RISE ON CHINA'S SURPRISE RATE CUT
Oil prices held on to small gains after an early rally was
sparked by China's decision to cut interest rates, fanning hopes
for increasing demand from the world's second-largest crude
consumer.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
The Wall Street Journal
CENTRAL BANKS MOVE AGAIN TO BOOST GLOBAL ECONOMY
In three striking developments over the past two weeks, major
central banks have once again placed themselves at the center of
efforts to pump up a flagging global economy, sending markets
higher but raising new questions.
The Wall Street Journal
OIL RIGS RETURN TO GULF OF MEXICO
Four years after the Deepwater Horizon disaster, giant new oil
projects are returning to the Gulf--bigger and more expensive than
ever. The resurgence could be short-lived if the decline in
crude-oil prices continues.