US president Barack Obama has said the wealthy and corporations should pay their "fair share" to cut the country's deficit after proposing a tax for the super rich.
Facebook has delayed its $66.5bn IPO until late 2012 in order to keep employees focused on their jobs rather than a payout, according to reports.
Stocks in the US and Asia rallied overnight after Italy turned to China for help with its debt crisis.
US markets opened lower today as more weak economic data emerged from the US showing no jobs were created in August.
The White House has revised down US economic growth forecast for 2011 to 1.7% but said the US will avoid slipping back into recession.
Stocks ended six consecutive days of gains in the US as investors took profits ahead of a key jobs report out later today.
Markets on Wall Street opened higher for the fourth consecutive session as speculation the Federal Reserve is to take more action to stimulate the US economy continued to buoy investors.
The International Monetary Fund has slashed its growth forecast from 2.5% two months ago to 1.6%, according to Italian news agency ANSA.