The markets fell on Wednesday as traders digested mixed data on the U.S. housing market and awaited another round of testimony from Federal Reserve Chairman Ben Bernanke.

Local content laws slowing petroleum production -analysts -Policy risks protecting inefficient companies -economist -Government aims to help domestic suppliers improve, meet demand RIO DE JANEIRO--Brazil's government is betting that laws requiring oil companies to purchase goods and services

Spain's housing and banking sectors continue to deteriorate, grim new government data showed Wednesday, suggesting the country's economy remains caught in a protracted recession.

Goldman Sachs favored Tiffany & Co over Saks Inc. in the luxury sector in a note to clients on Wednesday.

The Fed chief gave a bleak economic recovery outlook, but that didn't stop the Dow from finishing higher for the third time this month.

In its most prescriptive recommendations to date, the International Monetary Fund urged euro-area policymakers Wednesday to act immediately to stem the relentless spread of the debt crisis across the currency bloc.

Embracing the broad conclusions of the Simpson-Bowles deficit reduction panel would signal that the country will make progress on budget issues and thus send a message to investors and corporate managers that now is the time to commit capital and invest in the country, Goldman Sachs Group Inc. (GS)

Shares of Rovi Corp. plunged more than 30% on Wednesday after a slew of analysts downgraded the digital entertainment provider for preannouncing second quarter results that fell far short of expectations.

The International Monetary Fund on Wednesday said the European Central Bank must continue to play a crucial role in addressing a euro-zone debt crisis that has reached a "critical stage." At the conclusion of the IMF's annual review of the region's economy, IMF directors urged European officials to

Bank of America Corp. (BAC) reported a second-quarter profit as the banking giant recorded strong revenue growth and benefited from comparison to a tough year-ago period when it took a large hit from soured mortgages.