With markets up but still hesitant, finance officials from the Group of Eight countries will try to encourage nascent confidence at their summit in southern Italy as they take stock of measures taken so far to counter the world economic crisis.

Being cautious is no fun, but my instincts tell me now isn’t the time to be piling into stocks.

Philippine officials said Wednesday that they have scaled down the government’s growth forecast due to slower consumer spending, but the International Monetary Fund predicted negative growth.

Nasdaq turned negative on Wednesday, while the Dow industrials and the S&P 500 pared gains as investors worried that surging oil prices may hurt spending and hamper any economic recovery.

An administration official says President Barack Obama will ask Congress to give shareholders a nonbinding voice in how much corporate executives are paid. It’s an effort to link compensation to long-term performance rather than short-term gains.

Stocks are getting another lift from rising commodity prices. Energy and materials stocks rose Wednesday while other industries traded mixed. Oil touched a new high for the year above $71 a barrel and prices for metals and other materials pushed higher.

Chrysler LLC completed the sale of its strongest assets to a group led by Fiat SpA on Wednesday, reviving the 84-year-old automaker that was down to its last dollars and facing liquidation late last year.

Shares of Shuffle Master Inc. surged Wednesday after the casino equipment maker reported stronger-than-expected quarterly results.

SatCon Technology Corp. said Wednesday it has priced a common stock offering that will raise $20.2 million. The Boston-based company, which makes power generation products for the alternative energy industry, will sell 15.6 million shares of common stock at $1.30 per share.

Nasdaq turned negative on Wednesday, while the Dow industrials and the S&P 500 pared gains as investors worried that surging oil prices may hurt spending and hamper any economic recovery.