Markets Headlines
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U.S. Treasuries firmed in Asia on Thursday, with the 10-year yield dipping below the 2 percent mark, after the Federal Reserve stuck to its script that policy support was needed to bring down unemployment.
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European shares pared some of the losses on Thursday, after a series of earnings across the continent weighed on market sentiment.
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Gold and platinum have been locked in a tight race for the past month, with both trading currently around $1,680 an ounce, prompting the question – which precious metal will win the race to $2,000?
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Gold fell nearly one percent on Thursday as investors disappointed by its failure to rally further on the previous day's soft U.S. growth reading cashed in gains.
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Banking analyst Dick Bove may have changed firms but he hasn't altered his rosy view of the banking industry.
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The euro rose to a 14-month high against the dollar, heading for its best month in over a year as signs of recovery in the euro zone's economy set the currency on a bullish trend.
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Brent crude oil futures rose to three-month highs, widening its premium over U.S. crude, concerns about rising crude stockpiles in the U.S. Midwest prompted heavy trading based on the spread between the two benchmarks.
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Asian shares took a breather from recent rallies on Thursday though sentiment was underpinned by the U.S. Federal Reserve's pledge to retain its stimulus policy and on signs of stabilization in the euro zone.
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Chinese shares are having their day in the sun, with the benchmark Shanghai stock index trading at an eight-month high on Thursday. The rally, however, may be close to running its course, some analysts say.
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"The report, noisy as it is, may help ease ideas that has surfaced earlier this month that the Fed may look to soon pull back from its asset purchases," said one strategist in response the surprise drop in GDP.
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Investor "euphoria" is taking stocks higher but eventually will be their undoing, market bear Marc Faber told CNBC.
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A few factors suggest that the S&P 500 would continue to post gains, Guy Adami says.
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U.S. stock index futures pointed to a slightly higher open on Wednesday, with eyes on the Federal Reserve’s first policy statement of 2013.
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As stocks continue to post gains, a few headwinds could appear, Josh Brown of Fusion Analytics says.
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European shares suffered their biggest daily drop this month after gloomy earnings and weak U.S. economic data hit sentiment on Wednesday and left some positioning for further falls in the near-term.
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U.S. Treasury debt pared prices losses after the Federal Reserve reiterated it will continue its current program of asset purchases until the labor market improves "substantially."
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Brent reached its highest level in three and a half months on Wednesday, passing $115 a barrel after better-than-forecast European data spurred optimism for the global economy.
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The wealthy have for centuries stashed their gold in Swiss vaults. But Swiss bankers are now reluctant to accept the world's bullion in the same old way, as they seek to reduce the size of their balance sheets. The Financial Times reports.
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Gold rose after data showed the U.S. economy unexpectedly contracted in the fourth quarter, and stayed higher as the Federal Reserve left in place its bond-buying stimulus plan.
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The U.S. dollar slid to a fresh 14-month low against the euro after the U.S. Federal Reserve kept interest rates near zero and maintained its bond-buying program to spur economic growth.
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.