Between GDP, employment data and earnings reports, investors will have a lot to chew over this week. But here's what the real driver could be.» Read More
Bill Gross is my friend, says Paul McCulley, Pimco chief economist, talking about his return to Pimco after the departure of Mohamed El-Erian. Pimco is in my blood, says McCulley.
The Fed has been successful against great odds and a great deal of criticism from Wall Street, says Paul McCulley, Pimco chief economist, sharing his thoughts on Fed policy, Janet Yellen and the economic recovery.
If recent speeches from prominent Federal Reserve officials are any indication, the U.S. central bank is feeling pretty emboldened.
*Sterling rises after UK inflation jumps. LONDON, July 15- The euro fell on Tuesday, after Germany's ZEW survey suggested a shaky start for Europe's largest economy in the third quarter while lingering problems about Portugal's largest listed bank kept investors wary of the single currency.
Fed Chair Janet Yellen begins two days of testimony before Congress. Will Yellen stay the course or ruin the rally? Michael Tyler, Easter Bank Wealth Management, and Jim Swanson, MFS Investment Management, discuss what they expect to hear from Yellen's testimony.
*Gold edges up after biggest daily drop since Dec. LONDON, July 15- Gold rose on Tuesday as European equities moved lower, but was still trading near its lowest level in almost four weeks ahead of the Federal Reserve's Chair testimony to U.S. Congress that should give more clues about the timing of an interest rate hike.
Federal Reserve Chair Janet Yellen will have some good news to tell Congress this week about the health of the labor market.
LONDON, July 15- The yen eased on Tuesday after the Bank of Japan sounded some cautious notes on growth but stopped well short of hinting at a new bout of money-printing.
*Software AG down 14 pct after cutting sales outlook. LONDON, July 15- European shares were little changed on Tuesday as a gloomy outlook statement from Software AG was partly offset by strong earnings reports from Scandinavian companies such as H&M.
The price of oil fell below $100 a barrel for the first time since May even as the deteriorating security situation in Libya has raised questions about whether the country can soon increase crude exports. Prices have been falling in recent weeks as worries about supply disruptions from Iraq eased and on the prospect of more supplies from Libya.
TOKYO— Asian stock markets were lukewarm Wednesday after China met expectations of solid but unspectacular growth in the second quarter. Hong Kong's Hang Seng added 0.2 percent to 23,515.47 while Seoul's Kospi shed 0.1 percent to 2,011.75. China's Shanghai Composite rose 0.1 percent to 2,071.97 and Australia's S&P/ASX 200 dropped 0.1 percent to 5,505.50.
WASHINGTON— Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions.
Joachim Fels, chief global economist at Morgan Stanley, discusses the long-term effects of quantitative easing ahead of Fed Chair Janet Yellen's testimony.
*Fed chief to testify to Congress on Tuesday, Wednesday. TOKYO, July 15- The dollar edged up against the yen on Tuesday after the Bank of Japan tweaked its growth forecast lower, although currency moves were small as investors waited for Federal Reserve Chair Janet Yellen's congressional testimony later in the session.
TOKYO, July 15- Japanese government bond prices were mostly unchanged across the curve on Tuesday, with a bounce in Tokyo shares stalling a recent surge that took yields to the year's lows. The bond market's reaction to the Bank of Japan holding pat on monetary policy was limited, as the outcome had been well anticipated.
With expectations for the Fed to remain dovish, even a slight hawkish tone may be a risk for markets, says Nicholas Ferres, Investment Director, Global Asset Allocation at Eastspring Investments.
*Fed Chair Janet Yellen's testimony awaited. *Otsuka soars on new drug application to FDA. TOKYO, July 15- Japan's Nikkei share average climbed on Tuesday with all sectors rising, helped by gains on Wall Street on Citigroup's strong earnings and a merger and acquisition deal in the healthcare industry.
SINGAPORE, July 15- Gold was trading close to its lowest in nearly four weeks on Tuesday, struggling to get past sharp overnight losses from profit-taking and hurt by stronger global equities that dented its safe-haven appeal.
*Gold licks wounds after biggest daily fall since December. TOKYO, July 15- Asian shares were firm on Tuesday after Citigroup's earnings and a fresh round of merger and acquisition activity in the U.S. healthcare industry lifted global share prices.
SEOUL, July 15- U.S. crude futures edged up to over $101 a barrel on Tuesday as intensifying conflicts in Libya and Iraq rekindled concerns of supply disruption from the two OPEC members and projections that last week's U.S. crude inventory fell.