CNBC's Ross Westgate reports on all the market moving events from Europe, as equities tread water after steep losses on Tuesday.» Read More
The Queen was made to hang around for 5 days this week while her elected representatives attempted to form Britain’s next government.
The only thing missing from the weekend’s $1 trillion rescue package for Europe is a good acronym, Timothy Scala, a macro strategist at hedge fund Sophis Investments told CNBC.com Wednesday.
Plus, the Mad Money host reacts to rising gold prices.
Last week’s sharp drops and heightened volatility were due in part to the severe debt crisis in Greece and, more specifically, growing fears that other European nations are at risk — especially Spain, Portugal, Italy and Ireland.
The UK election just got a lot more interesting in a big negative way for the British pound.
Weeks of hesitant half-steps to address Greece’s debt problems had only worsened market worries about the euro, and were threatening the still-fragile economic recoveries in the United States and Asia. In response, President Obama told Mrs. Merkel that the Europeans needed an overwhelming financial rescue to end speculation that the euro — and European unity — could crumble. The NYT reports.
What the European leaders really meant to do with their big-bang, trillion-dollar sovereign-debt rescue was to save the euro currency, not to bury it. But with the cave in by European Central Bank head Jean-Claude Trichet (formerly a hard-money man and closet gold watcher) to use the "nuclear option" to buy up dubious sovereign debt, the euro is likely to keep depreciating.
If the support package put smiles back on the faces of the politicians, it did little to lift the mood of the business people gathered at the WEF meeting in Brussels.
The markets forced the European Union into its "shock and awe" rescue package, which means they will be tempted to repeat the tactic just to generate returns, David Blanchflower, professor of economics at Dartmouth College, told CNBC Monday.
Monday’s market euphoria across the world at the terms of the European Union/International Monetary Fund rescue package for the European bond market faded Tuesday as investors sold stocks and took profits on the euro. The worry for investors is whether governments in Greece and Portugal can live up to their end of the bargain and manage to significantly cut government spending in the face of bitter opposition from voters.
The size of the rescue package agreed at the weekend by European Union countries and the IMF is likely to cover the borrowing needs of vulnerable euro zone countries, according to famous economist Nouriel Roubini.
Cramer tells you how to trade stocks now that the Continent's debt defaults are off the table.
Stocks logged their biggest gains in over a year Monday after the EU and IMF agreed to a $1 trillion emergency-bailout package to stem the sovereign-debt crisis.
The unprecedented action by European politicians and bankers has led to a massive sigh of relief from investors, because the ECB is promising to buy European government debt—in the open market—for the first time ever.
Recall that many global markets and several sectors hit highs in April - before accumulating losses through Friday's trading.
Europe's $1 trillion bailout fund might alleviate some of concerns that its debt problems could spread to the US, Philadelphia Fed President Charles Plosser told CNBC Monday
The Dow held onto a solid 400-point gain Monday afternoon after the EU and IMF agreed to a $1 trillion emergency-rescue package for Greece and other nations over the weekend. Industrials and financials, the hardest hit last week, led the pack.
Twenty-seven European nations and the IMF agreed to a mammoth E750 billion plan to stabilize the financial markets.
Doubts about Europe's $1 trillion bailout prompted many experts to question whether the market rally will be short-lived as well.
The expected surge in share prices this morning is accompanied by sighs of relief and breathless anticipation of new highs. THIS IS NOT RESILIENCE! This is the effect of a trillion dollar injection. It represents new debt and commitments to support governments that have not lived within their means.