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NEW YORK (AP) - The latest on developments in financial markets (all times local): 4:00 p.m. Stocks are closing higher on Wall Street Friday, led by gains in financial companies, as the market rebounds from steep losses a day earlier. Intuit gained 6.7% after the maker of TurboTax reported quarterly earnings and revenue that topped expectations.
HARRISBURG, Pa. (AP) - Pennsylvania's treasury department is accusing about a dozen large financial firms of working together to illegally inflate the price of bonds issued by Fannie Mae and Freddie Mac over seven years.
CARACAS, Venezuela (AP) - Venezuelan President Nicolás Maduro is inviting China's Huawei to help set up a 4G network in Venezuela, prompting opposition leader Juan Guaidó to accuse him of having an "absolute disconnection with reality." Guaidó said Friday that telecommunications problems were due to the "poor use of state resources and funds."
WASHINGTON (AP) - Orders to U.S. factories for large manufactured goods fell sharply last month, pulled down by lower demand for commercial aircraft and cars, while businesses also pulled back on investment spending. The Commerce Department said Friday that orders for durable goods - or items meant to last at least three years - fell 2.1%, after rising 1.7% in March, which was revised lower from a previous estimate of a 2.6% gain. Orders also fell steeply in February.
PARIS (AP) - French far-right leader Marine Le Pen says that the nation's European Parliament elections amount to the referendum the "French asked for but didn't get." Le Pen said before a final rally Friday that President Emmanuel Macron's party "must not be first Sunday night." France has 34 lists but polls consistently show Le Pen's far-right and Macron's centrist parties battling for first place.
TOKYO (AP) - Global stocks are rebounding following Thursday's sell-off, with markets hoping for an easing in the U.S.-China trade dispute and after British Prime Minister Theresa May said she plans to resign as of June 7. Investors appear to hope May's pending resignation could unblock the political stalemate over Brexit. Some analysts are warning it could simply mean another delay to the EU departure.
Americans generally do not have enough saved for retirement and Congress is considering a number of measures to address that. There are a few retirement-related bills of note making their way through Congress. One in particular, the Secure Act, gained significant traction this week. The House voted to approve it Thursday and it is widely expected to move forward in the Senate. Some experts are saying it is one of the most important potential changes to retirement rules seen in years.
BEIJING (AP) - China's airline industry association has thrown its support behind 13 Chinese carriers seeking compensation from Boeing for groundings of the 737 Max 8. The China Air Transport Association said in a statement Friday that the groundings and delayed deliveries of the planes were causing "serious damage" to the companies' businesses. It estimated their losses at 4 billion yuan ($580 million) should the planes remain grounded through the end of next month.
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