Flashes of illumination rather than fireworks are expected at the annual meeting of top central bankers and economists in Jackson Hole, Wyoming.» Read More
Earnings from J.P. Morgan and some other big companies could sway the market's early direction, but traders are closely watching oil to see if it will make or break the upswing in stocks.
The global financial crisis is far from over—threatening to leave Federal Reserve interest rate policy on hold indefinitely.
Stocks closed with huge gains as drop in oil prices boosted sectors previously battered by energy costs. Financials also moved sharply higher.
I think it's WAY too early to say "oil fever is breaking" or call a top here for oil prices. Yes, oil futures dropped sharply again today, gold has followed ,and the grains (corn, wheat, soybean futures) are also down.
U.S. Federal Reserve policy makers fretted at their most recent meeting that growing inflation risks may require an interest rate hike, but agreed that the outlook for both prices and growth was still too uncertain, minutes of the meeting showed.
Below is the statement released by the Federal Open Market Committee after its June 24-25 meeting on interest rate policy:
What follows below is an unofficial transcript of my interview on Kudlow & Company last night with Senator Jim Bunning (R-KY). Mr. Bunning is a Republican member of the Senate Banking Committee.
As I have been saying, much of the recent sizzle in the race toward almost daily record price levels is attributable to the tensions over Iran, and the recent tangible statements and actions by Israel, Iran, and the US, in terms of military exercises.
I see this morning that some of my CNBC colleagues are talking down to Jim Bunning, almost making fun of him as some sort of “odd duck,” because the Kentucky senator dared to squawk back at Henry Paulson (and for that matter Ben Bernanke) during yesterday’s Senate hearings on Fannie Mae and Freddie Mac.
Federal Reserve Chairman Ben Bernanke told a House panel Wednesday a top Fed priority is restoring financial calm even as "too high" inflation and weak growth threaten the economy.
Stocks pushed higher as oil plunged for the second day in a row and financials staged an across-the-board rally that stemmed investor pessimism about the effects of inflation on the economy.
US industrial production unexpectedly rebounded in June by 0.5 percent, its biggest jump in nearly a year, as utility and mining output soared and manufacturing reversed two months of declines, the Federal Reserve said on Wednesday.
Today's CPI data follows yesterday's disappointing PPI. The 1.1% rise in the month of June is the biggest one month rise since September 2005 and the biggest year over year increase since 1991. Here is a break down of where costs are rising the most.
Many economists have concluded that a second dose of government stimulus spending is required to prevent a broad economic unraveling and provide relief to millions of Americans grappling with joblessness, plunging home prices and tight credit.
Oil's move could be a key trend in Wednesday's markets, as traders watch more Fed testimony, a bunch of earnings reports and another helping of inflation data.
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Has the Fed changed its tune? Are we imagining things or did Ben Bernnake hint on Tuesday that interest rates aren’t going anywhere?
Merrill Lynch sector strategist Brian Belski's comments may have overshadowed Bernanke's testimony in some traders' minds. In a research note this morning, he called for a possible end to the commodities cycle (stocks, not futures) after such a strong first half of the year.
Stocks closed lower following a zig-zag day marked by a plunge in oil and a barrage of statements and news from economic policy makers, and a resurgence for the beaten-down financial sector.
Dismal data on inflation and retail sales released on Tuesday flashed fresh signs of stagflation in the U.S. economy...