Flashes of illumination rather than fireworks are expected at the annual meeting of top central bankers and economists in Jackson Hole, Wyoming.» Read More
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...
The two most significant financial stocks of the moment--Fannie Mae and Freddie Mac, both remaining down but are also well off their lows. Still, this is still a weak day, with three stocks declining for each advancing.
Housing finance giants Fannie Mae and Freddie Mac have the potential to pose systemic risks to the financial system and need a stronger regulator, U.S. Treasury Secretary Henry Paulson said on Tuesday.
We are seeing a modest rally, led by financials. Lehman, for example, has gone from $12 at its bottom shortly after 10 am ET to just about $14, up 11 percent, though most other financials remain in negative territory.
As the dollar trades near an all time low against the euro, the question is whether Fed Chairman Ben Bernanke and Treasury Secretary Hank Paulson can talk tough enough to pump up the sagging greenback.
President Bush urged lawmakers to move quickly in putting into force legislation designed to help prop up mortgage giants Fannie Mae and Freddie Mac while declaring the nation's financial system to be "basically sound."
Stocks fell sharply after Federal Reserve Chairman Ben Bernanke issued a dour forecast ahead for the US economy, saying more hard times are on their way that will pose a major challenge to policy makers.
The NASDAQ has also hit a new two year low. If this continues, we are heading toward a 90 percent downside day, where 90 percent of the volume is on the downside, one of several that have occurred in the past few months.
A weakening housing market, a strained banking system, and rising oil prices threaten the U.S. economy, and restoring financial market stability is a top priority, Fed Chairman Ben Bernanke said.
With the Dow at levels not seen since July 2006, today's weak economic data is weighing further on the markets.
Mr. Bernanke's job is to walk the fine line between acknowledging--and defending--the Fed's expanding role in the regulation of investment banking, and not appearing to be coddling excessive risk-takers.
Dismal data on inflation and retail sales released on Tuesday flashed fresh signs of stagflation in the U.S. economy.
The Treasury and the Federal Reserve should not bail out Fannie Mae and Freddie Mac as this would increase the already gaping U.S. public debt, investor Jim Rogers, CEO of Rogers Holdings, told "Worldwide Exchange."
Discussion of persistent financial market turmoil is seen as likely to overshadow the Federal Reserve's semi-annual monetary policy outlook when Fed Chairman Ben Bernanke testifies before Congress on Tuesday.