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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.

SAN FRANCISCO, April 5 (Xinhua) -- Apple Inc.'s iPad 2 has topped the ratings by Consumer Reports, an influential U.S. magazine for product reviews, in the latest tests of the 10 most- promising tablet computers.According to the ratings released on Tuesday, the Apple iPad 2 with Wi-Fi plus 3G (32G), which is priced at 730 U.S. dollars, topped the ratings, scoring "excellent" in nearly every category.Besides several models from Apple, other brands tested include Archos, Dell, Motorola, Samsung and Viewsonic. Each tablet was evaluated on 17 criteria, including touch-screen responsiveness, versatility, portability, screen glare and ease of use."So far, Apple is leading the tablet market in both quality and price, which is unusual for a company whose products are usually premium priced," Paul Reynolds, electronics editor at Consumer Reports, said in a statement.The Motorola Xoom, whose price is 800 dollars, stood out as the iPad 2's main rival. It boasts several features that the iPad lacks, including a built-in memory card reader and support for the Flash videos.The first-generation iPad, priced at 580 dollars, also outscored many of the other models tested but tied with the Motorola Xoom, according to tests by Consumer Reports.

CHICAGO, Jan. 21 (Xinhua) -- Chinese President Hu Jintao left Chicago for China on Friday after concluding a state visit to the United States, during which he and his U.S. counterpart Barack Obama agreed to build a China-U.S. cooperative partnership based on mutual respect and mutual benefit.Hu, who began his four-day visit Tuesday, had extensive and in-depth discussions with Obama at the White House on Wednesday on major bilateral, regional and world issues.Chinese President Hu Jintao shakes hands with U.S. President Barack Obama during a bilateral meeting at the White House in Washington, the United States, Jan. 19, 2011.The two sides reached "important agreement on China-U.S. relations and major international and regional issues of shared interests," the Chinese president said when he and Obama met the press following their discussions."We both agree to further push forward the positive, cooperative and comprehensive China-U.S. relationship," Hu said, adding that both sides also pledged to forge "a China-U.S. cooperative partnership based on mutual respect and mutual benefit" for the benefit of the two countries and beyond.

BEIJING, Jan. 30 (Xinhua) -- A total of 248 people were arrested in China last year for involvement in food safety cases, food safety authorities said Sunday.The country dealt with 130,000 cases involving food safety last year, including 115 criminal cases, according to a statement of the National Food Safety Regulating Work Office.The cases touched upon such areas as production of edible agricultural produce, food production, food circulation, catering services and food exports and imports,"No major incident occurred last year, and the overall food safety situation maintained stable," said the statement.Last year also saw a nationwide crackdown on "gutter oil", usually made from discarded kitchen waste that has been refined, after media reports that it was commonly used by small restaurants.Since July when the State Council, or Cabinet, ordered the eradication of "gutter oil", 165.7 tons of edible oil has been confirmed to have been disqualified and produced by unknown sources.Chinese authorities since July last year have also cracked down on the use of undisposed tainted milk powder produced before the melamine scandal of 2008.About 2,132 tonnes of melamine-tainted milk powder was seized in the latest crackdown, the statement said.A total of 191 officials were punished for failing to do their duty in food safety enforcement, with 26 of them fired, it said.In July last year, Dongyuan milk powder, produced in west China's Qinghai Province, was found to contain excessive levels of melamine, a toxic chemical normally used in the manufacturing of plastics, which triggered the nationwide crackdown.It is the latest blitz on tainted milk products since 2008 when melamine-tainted milk powder killed at least six infants and sickened 300,000 children across the country.

BEIJING, March 17 (Xinhua) -- The People's Bank of China (PBOC), or the central bank, auctioned 50 billion yuan (7.61 billion U.S. dollars) of three-month bills at a yield of 2.7944 percent on Thursday, temporarily easing speculation of an approaching interest rate hike.The yield on three-month bills stood unchanged from last week at 2.7944 percent.Also, PBOC sold 60 billion yuan (9.13 billion U.S. dollars) worth of 91-day repurchase agreements to banks on Thursday with a yield of 2.8 percent.Offsetting the 181 billion yuan (27.55 billion U.S. dollars) of bills and repurchase agreements that matured, PBOC took 49 billion yuan (7.46 billion U.S. dollars) of liquidity out of the money market this week through open market operations on Tuesday and Thursday.Market analysts have been watching PBOC's open market operations closely this week as the yield of its one-year bill sold on Tuesday exceeded the benchmark interest rate of one-year deposits, which some analysts interpret as a reason for an imminent interest rate hike.Chen Lan, an analyst with Guotai Junan Securities, said higher yields on central bank bills would boost PBOC's ability to absorb liquidity from the market amidst the country's economic tightening efforts."But the hike of interest rates is not an imminent task for the central bank amid the slowdown of China's industrial investment in February, which weakened consumer confidence, and economic uncertainty overseas," Chen said.China's industrial value-added output grew 14.1 percent in the first two months of this year, the National Bureau of Statistics (NBS) announced on Friday.The growth rate during the first two months was up by 0.6 percentage points compared to that in December of last year, according to figures released by the NBS.Chen predicted that PBOC will reduce its frequency to raise banks' reserve requirement ratio in coming months but said the rate hike expectation would continue this year as the government is hoping to curb the red hot property market and soaring inflation.China's consumer price index (CPI), a main gauge of inflation, rose 4.9 percent year on year in February, adding more monetary tightening pressure to the government.