Stocks Mixed as Fed Chief Speaks

U.S. stocks were mixed in the early trading on Friday, with Federal Reserve Chairman Ben Bernanke speaking at the Chicago Fed’s yearly gathering on bank structure and competition. The Dow Jones Industrial Average lately fell 12.98 points to 15,069.64. The S&P 500 index added 0.52 point to 1,627.19. The Nasdaq Composite rose 11.49 points to 3,420.66.

Federal Reserve Chairman Ben Bernanke on Friday said the U.S. central bank is closely monitoring the risks from excessive risk-taking with interest rates so low.

The role of central banks in shoring up the global economic recovery is set to be a key point of discussion among top financial officials from the world’s seven leading economies when they gather in the UK this weekend.

International Monetary Fund officials say they are watching carefully for signs that massive flows of cash unleashed in world markets by unprecedented monetary easing might lead to asset bubbles, or to overheating in some emerging markets.

Carl Icahn and Southeastern Asset Management, two of Dell’s largest shareholders, have teamed up on a new offer to challenge the proposed $24.4bn management-led buyout of the personal computer maker and threatened a proxy fight if it is not endorsed.

Kamala Harris, the California attorney general, is accusing JPMorgan Chase of credit card collection Richard Vogel/Associated PressKamala Harris, the California attorney general, is accusing JPMorgan Chase of credit card collection abuses.