Wells Fargo CEO: Interest Rates Need to Normalize
Markets Headlines
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Weak Chinese manufacturing data on Thursday helped put a floor under U.S. Treasurys prices, which steadied after first extending losses in Asia when Bernanke signaled that the U.S. central bank could begin tapering later this year.
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Gold fell for a fourth straight session on Thursday to its lowest level since a 15 percent plunge in mid-April, after the Fed signalled it would slow the pace of bond purchases later this year.
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U.S. oil prices were steady below $99 on Wednesday as investors waited for the U.S. Federal Reserve to shed some light on its plan.
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The U.S. dollar rose broadly on Thursday after the Federal Reserve signaled it would begin to dial down stimulus this year as the economic outlook improves.
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Asian equities got hammered on Thursday after the Federal Reserve signaled an end to its bond-buying program while weak factory activity in China added to market gloom.
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US Treasurys prices slid as the Federal Reserve chairman suggested the US central bank was prepared to reduce its bond purchases if its economic outlook proves correct.
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U.S. crude prices settled lower on Wednesday, after the Federal Reserve rendered a widely-expected decision on interest rates.
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Gold prices erased earlier gains on Wednesday as investors digested the possibility of tapering and the US dollar rose.
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The U.S. dollar reversed early losses and rose against the euro and yen on Wednesday after the Federal Reserve said it sees diminished downside risks to the economy.
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Japan's benchmark Nikkei index soared to a one-week high on Wednesday, underpinned by continued weakness in the yen and optimism about the Federal Reserve's policy decision.
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The effects of the Federal Reserve's bond-buying program are looking more lackluster and more disruptive to market functioning, according to the latest CNBC Fed survey.
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Stocks rallied to finish near session highs Tuesday, with the Dow soaring nearly 150 points, as members of the Federal Reserve kicked off their two-day meeting to discuss the future of the central bank's bond-buying program.
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Oil prices ended slightly higher in sluggish trading as the market awaited the Federal Reserve's policy statement that is expected to show whether it will reduce monetary stimulus.
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European shares closed mixed on Tuesday, after better-than-expected economic data from Germany, and stock market gains in the U.S.
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Most U.S. Treasurys prices were little changed on Tuesday, as investors awaited the outcome of the Federal Reserve's two-day meeting.
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The U.S. dollar rose for a second day against the yen on Tuesday as some traders bet the Federal Reserve may signal it is almost ready to reduce its bond buying program.
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Gold futures settled lower at $1366 per ounce as U.S. equities rallied and bullion buyers took to the sidelines before the conclusion of a two-day Fed policy meeting.
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Asian equity markets were mixed on Tuesday, as nervous investors awaited the U.S. Federal Open Market Committee's latest update on its stimulus program.
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Brent crude oil futures touched a 10-week high close to $107 a barrel on Monday as tensions in the Middle East rose, but prices finished slightly lower on the day after a late sell-off in U.S. gasoline futures.
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Gold settled lower at $1,383 on Monday as a Wall Street rally decreased the need for safe-haven buying, with investors awaiting this week's US Fed meeting.
Europe Markets
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European shares were flat on Friday as talks over the "fiscal cliff" stalled.
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European shares closed lower on Wednesday for a third consecutive session, with resurging worries about the global economic outlook undermining investor sentiment.
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Standard & Poor's decision to cut Spain's credit rating to one notch above junk status is weighing on markets.
Asia-Pacific Markets
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Japan's Nikkei breached the 11,0000 mark briefly as the yen continued to weaken.
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As the Chinese boom slows Hermes, Remy and other posh names are still going full throttle in Asia.
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The worst US drought in over 50 years is pushing commodity prices to record highs.
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