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NEW YORK, May 27 (Xinhua) -- U.S. stocks expanded gains on Friday ahead of the long Memorial Day weekend as surging commodity prices overcame disappointing economic data.European Central Bank Governing Council member George Provopoulos said that Greece might deal with its debt problem if it sticks to the aid program. That comment, which was considered as bullish by investors, drove the U.S. dollar weaker and led commodity prices surge on Friday.The stock market was driven by higher commodities prices, with thin trading volume ahead of the Memorial Day holiday, despite somewhat disappointing economic data on Friday.The Commerce Department said that both personal income and spending rose 0.4 percent in April, in line with market estimates. However, the rise in spending was the smallest in three months, suggesting the consumption situation was still weak.Meanwhile, pending home sales dropped 11.6 percent in April. The reading was a seven-month low. The market expectation was a drop of 1 percent.Moreover, the Thomson Reuters/University of Michigan Consumer Sentiment index came in above analysts' estimates. Concerns about higher gas prices and inflation had knocked the gauge down in March and April.Despite those disappointing data, analysts still held a bullish view toward the stock market. "Despite our near-term caution, we continue to see the S&P 500 reaching 1400 over the coming year," Alec Young, equity strategist of S&P Equity Research told Xinhua.According to Alex, while recent macro headwinds were raising questions about the sustainability of recent earnings momentum, he still believed that a downside trend of market was fairly limited and that the current weakness is more likely to be a correction, rather than the beginning of a new bear market."In our view, 2011 estimated EPS would have to be excessively optimistic to justify a bear market,"he added.The Dow Jones industrial average added 38.82 points, or 0.31 percent, to 12,441.58. The Standard & Poor's 500 was up 5.41 points, or 0.41 percent, to 1,331.10. The Nasdaq Composite Index rose 13.94 points, or 0.50 percent, to 2,796.86.

BEIJING, Feb. 10 (Xinhua) -- The Chinese currency, or the yuan, on Thursday rose to a fresh high of 6.5849 against the U.S. dollar, according to the China Foreign Exchange Trading System.The central parity rate of the yuan, or RMB, was 1 basis point higher than the previous record of 6.585 set on Feb. 9, the previous trading day.The central parity rate has risen against the dollar for a three consecutive trading days.China's central bank announced on June 19 last year that it would further reform the yuan exchange rate formation mechanism to improve its flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

BEIJING, Jan. 26 (Xinhua) -- China's civil affairs ministers visited survivors of last year's 7.1-magnitude Yushu earthquake and Zhouqu mudslide prior to China's lunar new year.Dou Yupei, vice minister of Civil Affairs, led a team to Yushu in northwest China's Qinghai Province to visit quake survivors and local cadres beginning on Sunday.Dou told Xinhua that quake survivors in Yushu now had access to food, clothing, safe drinking water, shelters and medical services, and the reconstruction of quake-damaged houses was well underway.Further, the ministry has distributed 45,000 cotton-padded tents to Yushu to house survivors during the extremely cold winter on the Qinghai-Tibet plateau.So far, 160,000 tents have been set up to assure that all survivors have a roof overhead, according to the ministry's statement issued Wednesday.Yushu was jolted by a 7.1-magnitude earthquake on April 14, leaving 2,200 people dead and 220,000 local residents affected.Another vice minister, Sun Shaocheng, visited survivors from a massive mudslide that left 1,700 people dead or missing in Zhouqu, Gansu province.To provide warm shelters to survivors, the Zhouqu county government invested three million yuan (455,000 U.S. Dollars) in renovating vacant school buildings or installing facilities in newly-built apartments.All survivors who previously had taken shelter in make-shift tents were relocated to these buildings before Oct. 13, according to the ministry's statement.

SAN FRANCISCO, April 27 (Xinhua) -- Apple Inc. on Wednesday denied the alleged location-tracking practice of its mobile operating system, saying it will release software updates to make iPhone store less location information to quell public concerns over privacy.CLARIFICATION"Apple is not tracking the location of your iPhone. Apple has never done so and has no plans to ever do so," the company said in a statement."Users are confused, partly because the creators of this new technology (including Apple) have not provided enough education about these issues to date."According to the statement, the location data researchers saw on iPhone is a database of Wi-Fi hotspots and cell towers around users' current location that Apple is maintaining to help iPhone rapidly and accurately calculate its location when requested. It noted Apple cannot locate iPhone users based on Wi-Fi hotspot and cell tower data as the information is in an anonymous and encrypted form.Apple admitted that part of the location data (Wi-Fi hotspots and cell towers) is backed up on iTunes, which means it could be possible that people with access to iPhone users'computer may get their location information. It said a software update has been planned to cease the backing-up.It is also planning to provide an update to limit the data storage on iPhone, in response to questions that the device has been storing location data since the release of iOS 4 operating system last June.Apple said it is a bug that iPhone keeps storing location data even if its location services are disabled, noting it will fix this through a software update in the coming weeks.The company also reiterated its focus on personal information security and privacy."Pretty much what I expected at this stage. The response is measured and the update should fix the problem," Alasdair Allan, one of the two British researchers who first announced the discovery of stored location data on iPhone, said on his Twitter account.ALLEGATIONThe statement on Wednesday is Apple's first official response to the location-tracking allegations.Worries on the iPhone tracking issue first surfaced last Wednesday when two British researchers announced at a technology conference in California that iPhone has been collecting users' location information and storing the data since June 21, 2010.Last Friday, The Wall Street Journal reported its security analysts had found that Apple's iPhone and smartphones running Google's Android operating system regularly transmit users' locations back to the two companies respectively, which is part of their race to build databases capable of pinpointing people's locations via smartphones.The newspaper then reported on Sunday that its analysts had also found iPhone is collecting and storing user's location data even when location services are turned off.PRESSUREThe Cupertino, California-based company has been facing mounting pressure from lawmakers, customers as well as media reports following the revelations.The U.S. House Energy and Commerce Committee on Monday sent letters to six developers of mobile device operating systems, including Apple and Google, demanding Apple's explanation on implications of alleged tracking for individual privacy and federal communications policy.Also on Monday, Minnesota Senator Al Franken, chairman of the U. S. Senate Judiciary Subcommittee on Privacy, Technology and the Law, announced he had scheduled a mobile privacy hearing on May 10 and asked representatives from Apple and Google to speak at the hearing.Meanwhile, Lisa Madigan, Attorney General of U.S. state of Illinois, on Monday called for a meeting with Apple and Google executives on the location-tracking reports, citing her ongoing effort to protect consumers' personal information online.Last Friday, two iPhone users filed a class action suit against Apple in Tempa, Florida, accusing the company of invasion of privacy and computer fraud and seeking a judge's order to bar the alleged data collection.Last Thursday, U.S. congressman Edward Markey asked Apple CEO Steve Jobs to make a response within 15 business days or no later than May 12, saying "Apple needs to safeguard personal location information of its users to ensure that an iPhone doesn't become an iTrack."On Saturday, Markey called for a congressional investigation into the privacy practices of Apple and Google. In a statement, he made clear that he thinks the data collection is potentially dangerous, saying predators could have hacked into an iPhone or Android phone to find out children's location information.Apple is also reportedly being investigated in South Korea, France, Germany and Italy over the alleged tracking practice.