President Barack Obama claimed a stronger hand on the world stage Friday despite electoral defeats at home, failure to get a free-trade agreement with South Korea and lackluster international support for his get-tough policy with China on trade and currency disputes.
Stocks slid Wednesday, despite news of an unexpected drop in US jobless claims and a narrowing of the trade deficit. Art Cashin, director of floor operations at UBS Financial Services, shared his outlook.
Anyone wondering what President Obama will face when he arrives in South Korea on Wednesday for a global financial summit meeting need look no further than an announcement by China’s leading state-endorsed rating agency, which downgraded the United States’ credit rating on Tuesday — and provocatively questioned American leadership of the global economy. The New York Times reports.
Stocks continued to stall after last week's broad market rally and closed lower across-the-board Tuesday as the dollar rose. Bank of America and Kraft fell, while Exxon rose. .
Stocks extended losses as the closing bell neared, pulling back from last week's rally to two-year highs, as the dollar rose. BofA fell, while Exxon rose.
Stocks fluctuated Tuesday despite largely upbeat earnings releases, and news of corporate acquisitions, as the dollar rose slightly. Chevron and Kraft fell, while Exxon rose.
Stock index futures pointed to a higher open for Wall Street on Tuesday, tracking gains in Europe where upbeat company statements lifted shares.
An unusually broad coalition of business groups in North America, Europe and Asia has sent a letter to the heads of state of the Group of 20 major economies, asking them to make a commitment at their meeting this month in Seoul that trade in crucial rare earths will not be interrupted because of industrial policies or political disputes. The New York Times reports.
Credit Suisse changed its outlook on the stock market and now is overweight stocks, Giles Keating, head of research at Credit Suisse, told CNBC Monday.
The dollar's slump could get far worse if the dollar index takes out last year's low, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC Monday.
The agreement by G20 finance leaders over the weekend to move towards market-based exchange rates and commit to reducing external imbalances was a "surprise," analysts told CNBC on Monday, considering the markets were not expecting much from the meetings.
Emerging and other international markets took a beating during the second quarter of 2010, led by a 20% decline in China's Shanghai Composite. The global decline was driven in part by uncertainty around the world, leading investors to unwind risky positions.
The Fast Money traders share their final trades of the day.
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