With markets pricing in a "Yes" vote in Greece's referendum, a "No" vote will likely shock markets and trigger a 10 percent correction in the U.S., says Charles Blankley, CIO of Gemmer Asset Management.» Read More
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.
Stocks shot out of the gate Monday after the EU and IMF agreed to a $1 trillion emergency-rescue package for Greece and other nations over the weekend.
By establishing a 750 billion euro fund to bailout Greece and aid other struggling governments, Germany and other strong European states are chasing a dream—a single European currency and broader European unity—that may have no place in reality.
The European emergency rescue package is impressive in scale, but fails to address three key questions, Simon Derrick, chief currency strategist at Bank of New York Mellon, told CNBC Monday.
U.S. stock index futures pointed to a massive rebound on Wall Street after European Union finance ministers agreed to a $1 trillion global emergency rescue package over the weekend.
And their one main victim: You.
It was pretty wild out there. But instead of chalking this up as simply panic in the market, we should see it as a huge wake up call. All is not well.
As the market dropped our team was watching. A car wreck is a much too pleasant analogy. I was at my desk in 1987, 1989, 9/11, 2008, and I’ve never witnessed what I witnessed yesterday.
For the market to plunge 1000 or so points and then rebound a good bit of the way back is rattling.
Stocks staged one of the most dramatic selloffs in market history Thursday as what may have been a trader error exacerbated losses in a market already jittery about the European debt crisis. The Dow ended down about 350 points and the VIX was above 34.
Panic has gripped stock markets worldwide over the Greek debt crisis and the threat of a debt-deflation contagion through banks in Europe (primarily) and the U.S. that own the bonds of Greece, Portugal, Spain, and so forth. If these bond asset prices collapse totally, lending facilities would be badly crimped for both the short and long term.
Faithful readers of my weekly market commentary know that I value the opinion of PIMCO bond manager Bill Gross. Gross has compiled a terrific record as a fixed-income manager, and he regularly proves to be ahead of the curve on issues affecting the global economy.
A mood of resignation pervaded the crowd outside the Greek parliament building on Thursday, after lawmakers passed far-reaching three-year budget cuts to deal with Greece’s teetering economy.