Obama calls for debt-limit hike

MARKETWATCH FRONT PAGE

President Barack Obama asked Congress Thursday to raise the debt ceiling to $16.4 trillion. Congress has 15 days to object but analysts do not expect opponents to be able to block the increase. See full story.

J.P. Morgan profits to reflect bruised markets

First of the big banks to report fourth-quarter earnings is expected to show weakness from narrowed net-interest margins and a drop in capital-market revenue. See full story.

Oil sharply pulls back as embargo talk eases

Crude-oil futures fall 1% to close under $100 a barrel Thursday, making a swift retreat in the final minutes of trading after a report that Europe would put off an embargo on Iranian oil imports. See full story.

Gold ends at almost month-high on weak dollar, ECB

Gold futures settle at highest since Dec. 13 as traders key off a weaker dollar and as safe-haven flows return to the market. See full story.

ECB pauses; Draghi sees funding progress

The European Central Bank leaves key lending rate unchanged, as expected, while chief Mario Draghi sees early signs that a massive injection of long-term liquidity is helping ease funding pressures. See full story.

MARKETWATCH COMMENTARY

Instead of acknowledging that banks have become a part of government, we keep pretending they are private institutions, writes David Weidner. See full story.

MARKETWATCH PERSONAL FINANCE

In 2012, creativity and adaptability are among the key skills needed to land and keep a job, as staff levels remain lean and employers expect workers to respond to a wide variety of demands. See full story.