Federal Reserve Chairman Ben Bernanke on Friday called the U.S. inflation outlook "highly uncertain," and said central bank policy-makers would do what they must to preserve price stability. At the same time, he called a recent decline in commodity prices and stabilization of the U.S. dollar "encouraging." "If not reversed, these developments, together with a

Warren Buffett said the economy is still in a recession and unlikely to improve before 2009 but that stocks appear better valued than a year ago. The billionaire investor also said there is a "reasonable chance" shareholders of Fannie Mae and Freddie Mac may be wiped out in any government bailout of the mortgage financiers.

European shares extended gains to hit their day's highs in afternoon trade on Friday as financial stocks rose further and Wall Street notched up early advances. At 1352 GMT, the FTSEurofirst 300 index of top European stocks was up 1.6 percent at 1,172.84 points, having just hit the day's high of 1,173.16 points. Banks were

Stocks added to gains on Friday after Federal Reserve Chairman Ben Bernanke said the recent decline in commodity prices and stabilization of the U.S. dollar were encouraging. The Dow Jones industrial average rose 143.30 points, or 1.25 percent, to 11,573.51. The Standard & Poor's 500 Index shot up 11.82 points, or 0.93 percent, to 1,289.54.

European shares rose by midday on Friday, lifted by a rebound in financial stocks on the prospect that U.S. investment bank Lehman Brothers might be bought, while oil eased below $120 a barrel. Among individual movers, shares in TNT NV surged 8% after London's Times newspaper reported rumours that U.S. rival United Parcel Service could

Stock index futures jumped on Friday after investor Warren Buffett said he has no bets against the dollar and stocks are more attractive now than a year ago. In his comments in a CNBC television interview, the head of Berkshire Hathaway Inc brought investors comfort before speech by Federal Reserve Chairman Ben Bernanke on financial

Warren Buffett said the U.S. economy is unlikely to improve before 2009, and that he expects the government to take action to support troubled mortgage financiers Fannie Mae and Freddie Mac. Speaking Friday on CNBC television, Buffett said retail businesses within his Berkshire Hathaway Inc, insurance and investment conglomerate have been struggling and that the