, April 23 Xinhua -- The U.S. stocks refreshed 18- month highs on Friday after a government report showed new-home sales surged last month.The U.S. Commerce Department reported on Friday that sales of new homes jumped 27 percent in March, bouncing off a record low in February. It was the best month since July and the biggest monthly increase in 47 years.The housing data helped shares recover from early losses. Stocks opened slightly lower on Friday morning after Greece requested aid from the European Union EU and the International Monetary Fund IMF.The Greek government formally requested the activation of a joint EU-IMF rescue plan after soaring borrowing costs were seen making it virtually impossible for the debt-strapped nation to meet its funding needs on the open market.The U.S Commerce Department reported on Friday that demand for U.S.-made durable goods dropped for the first time in four months as orders for new aircraft plunged 67 percent.However, orders excluding the volatile transportation goods actually made the biggest gain since December 2007 when the U.S. economy slipped into recession. Analysts believe that this showed the strength of the economic recovery.In earnings, Honeywell International Inc. said on Friday its first-quarter earnings fell to 393 million U.S. dollars, or 50 cents a share, compared to 399 million dollars, or 54 cents a share, in the year-ago period. Sales rose 3 percent to 7.8 billion dollars,cheap toms shoes.The Dow rose 69,toms outlet.99, or 0.63 percent, to 11,204.28. The S P 500 rallied 8.61, or 0.71 percent, to 1,cheap toms,217.28 and the Nasdaq composite index gained 11.08, or 0.44 percent, to 2,530.15. NEW YORK, April 22 Xinhua -- U.S. President Barack Obama urged Wall Street to support his financial reforms that will enhance accountability of the financial sector during a speech delivered here on Thursday.Speaking at the Cooper Union College in lower Manhattan, a few blocks away from Wall Street, Obama said that financial reforms are not only in the best interest of the country, but in the best interest of our financial sector. I want to urge you to join us, instead of fighting us in this effort, he said.Recapping what he discussed in the last speech given at Cooper Union in 2008 before the crisis unfolded, Obama emphasized that Wall Street reform is an absolutely essential part of the foundation for economic growth, given the importance of the financial sector.U.S. President Barack Obama speaks to the media at the Rose Garden of the White House in Washington D.C., capital of the United States, April 9, 2010.In his latest effort to promote financial reforms for public support, Obama started travelling around the country this week, the same time as the Senate is debating on the financial regulation reform bill.Obama said the bill would create a way to protect the financial system, the broader economy, and taxpayers in the event that a large financial firm begins to fail.Obama pointed out that there currently is no process designed to contain the failure of a Lehman Brothers or any of the largest and most in Related articles:

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