NEW YORK, April 17- U.S. Initial claims for state unemployment benefits ticked up 2,000 to a seasonally adjusted 304,000 for the week ended April 12, the Labor Department said on Thursday. The Philadelphia Federal Reserve Bank also said factory activity in the U.S. mid-Atlantic region picked up in April at a faster clip than expected.» Read More
The dollar made its biggest gain since mid-December against the euro Thursday as investors sold oil, gold and other commodities and repatriated their cash back into the beleaguered U.S. currency.
The dollar briefly reversed losses against the euro on Wednesday in volatile trading, drawing support from losses in gold futures.
Fed Chairman Ben Bernanke’s stock is at a 52-week high on Wall Street --- with the exception perhaps of Bear Stearns, which appears to be selling him short.
A day after the Federal Reserve cut interest rates another three-quarters of a point, CEOs joined Squawk Box to share their outlook on the economy and markets.
Two of the nine Bank of England policymakers opposed this month's decision to keep interest rates at 5.25 percent, preferring an immediate quarter-point cut to shore up the economy in the face of a global downturn.
Today's statement is another in a series of very significant communications from the Fed. At the extreme, it could mean the Fed is done cutting rates, barring any more massive credit-market upheavals.
The dollar posted gains against the yen and the euro on Tuesday after the Federal Reserve slashed benchmark interest rates by 75 basis points.
The Fed commentary, on top of the positive Lehman and Goldman numbers, are helping move stocks to the highs of the day. The Fed has: 1) Reduced the growth forecast, and increased the inflation forecast. 2) Talked less on credit problems.
The size of the Fed’s expected rate cut today may help stimulate a sluggish economy. But it is unlikely to unfreeze the credit markets, especially the mortgage one.
The Federal Reserve slashed a key U.S. interest rate by three-quarters of a point, to 2.25%, but Wall Street didn't seem to care that the cut was smaller than many had expected.
U.S. Treasury Secretary Henry Paulson said on Tuesday the U.S. economy had turned down sharply but declined to label the situation a recession.
Fed policy-makers are expected to make the biggest interest rate cut since 1982, while two major Wall Street firms provided some relief to investors with better-than-expected earnings.
As the credit crunch worsens, the Federal Reserve is becoming more imaginative in its tactics. Wall Street is now betting on a full-point cut in interest rates, to 2%, when the Fed meets Tuesday.
The flagging U.S. economy got more mixed news from its troubled housing sector on Tuesday, while evidence of inflation pressures continued to lurk in the producer pipeline.
European Central Bank Executive Board members stressed on Tuesday the role of the ECB as a guardian of price stability, giving the strong euro only scant mention.
British inflation leapt further above target to a nine-month high in February but the jump was purely due to changes in the way utility bills are calculated, official data showed on Tuesday.
Australia's central bank was still concerned that interest rates might not be high enough to restrain inflation when it hiked rates to a 12-year high earlier this month, minutes of the policy meeting showed on Tuesday.
Lehman shares tumbled more than 20 percent Monday as Wall Street speculated whether or not it's the ailing banking system's next casualty.
The dollar tumbled to a 12-1/2 year low against the Japanese yen on Monday and record levels against the euro and the Swiss franc as emergency liquidity-boosting measures by the Federal Reserve over the weekend failed to ease worries about the U.S. financial sector.