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European markets rebound, although euro zone concerns remain. Manufacturing data continues to contract. Meanwhile, Spain finds strong demand for bonds even as yields on the 5-year fall. And the euro hits an 11-month low against the dollar.
Think the euro's had enough of a fall? Think again, this strategist says.
The euro is down 2.6% in just two days - a huge move for a currency - and this strategist sees more weakness ahead. With the euro nosing below the 1.30 level against the dollar, is the worst over?
CNBC's Mandy Drury reports on the third consecutive day in the red for U.S. markets, which have their biggest three-day drop since Thanksgiving week. Investors struggle to shake European concerns, as a stronger dollar slams commodities and energy companies take it on the chin. And First Solar is the biggest loser on the S&P today after it slashes earnings and sees a weak 2012.
Growth worries drag European shares lower as market losses accelerate near the end of the trading day. German Chancellor Angela Merkel again rebuffs pressure for the ECB to intervene decisively. Italy sees a record-high yield of 5.47 percent at a 5-year bond auction. State Street quits as the UK primary dealer. Automakers, miners, and other cyclical stocks are among the day's worst performers. Peter Baum, Essex Manufacturing, talks about the impact of Europe on China with CNBC's Gary Kaminsky. And oil falls along with the euro.
The euro is slumping, British unemployment is soaring, and dollar coins are on their way out - it's time for your FX Fix.
Europe finds a low point even though a short-lived gain follows a successful German bond auction. An Italian auction yield sets new euro-era high at 6.47 percent. Mario Monti speaks in the Italian Parliament today, and says German Chancellor Merkel believed the EU agreement would calm markets. And the euro/dollar hits an 11-month low.
The outlook for the euro is iffy at best, this strategist says - but watch out for positioning risks.
Iceland's Progressive Party wants to stop trying to join the euro and adopt the Canadian dollar instead.
After yesterday's drop, the U.S. markets are positive, although German Chancellor Merkel's comments about not increasing the size of the bailout fund have taken out some of the steam. Energy shares are among the leaders, while Best Buy is down as it slashes prices to drive sales in a very competitive market, with CNBC's Mandy Drury.
The European rally fades as German Chancellor Angela Merkel reportedly rejects a bailout fund increase. Oil and gas stocks are among best performers in Europe. U.K. inflation hits an annual rate of 4.8 percent. The euro falls below a key level. And Moody's puts 8 Spanish banks on review for a possible downgrade, with CNBC's Simon Hobbs, Bertha Coombs, Rick Santelli, Gary Kaminsky, Melissa Lee and Stephen Weiss, Short Hills Capital.
What is needed is an agreement, and then an undertaking, to make the euro work. This needs a centralized budgetary authority, which has control over the debt issuance process as well, to ensure that governments do not run up unsustainable public deficits. Tie that into a genuine lender of last resort role for the European Central Bank and we are almost there.
The breakdown in materials bodes ill for the Aussie dollar, this strategist says.
Europe clouds the market and the Swiss expect slowness - it's time for your FX Fix.
Europe is back to its best levels of the day after a Spanish T-bill auction sees higher demand and lower yields than expected. Also, will Commerzbank need state aid?
V Hariharan, CEO of Singapore Mercantile Exchange says he plans to expand the SMX to as many as 30 venues worldwide, despite the ongoing volatility in markets.
The Swiss National Bank will meet this week amid chatter about a possible change in the target for the franc. Here's how to get ready.
Some ways traders should play the strength in the dollar, with Keith McCullough, Hedgeye Risk Management CEO.
U.S. markets have a rough start to the week, mostly due to skepticism over European solutions to the region's debt crisis. Intel cuts its Q4 outlook on lower PC production, due mostly to hard drive shortages. And financials follow European banking stocks lower, with CNBC's Mandy Drury.
European stocks sink on concerns the EU summit did not do enough to address the euro zone debt crisis. Italian borrowing costs remain near record highs in a 1-year note auction, and the Dax closes at its lowest level this month.