CNBC's Rick Santelli discusses bond prices and yields, after news of a shooting near the Canadian Parliament.» Read More
Job losses in the U.S. construction sector could top one million if a housing downturntips the economy into recession and tighter access to credit dampens business investment.Strength in nonresidential construction may continue to offset a downturn in housing for now, but recent turmoil in credit markets suggests job losses may accelerate in the sectorin the next few months.
Talk about a recession from a very small group of people need to be balanced against the fact that no major strategist is predicting a recession. Many are trimming their forecasts slightly, but that is a long way from a recession. Even Ben Bernanke maintains a forecast of "moderate" growth of 2.5% in the GDP this year, and a slight expansion in 2008.
France on Friday kept up the pressure on the European Central Bank to take account of global financial market turmoil and economic growth when setting interest rates, and said a September rate rise was not a done deal.
A global credit squeeze has most economists convinced the Federal Reserve will come to the rescue and cut interest rates next month, a Reuters poll showed on Wednesday.
Exxon Mobil has delayed work on the 71,600 barrel per day gasoline-making fluid catalytic cracking unit at its 188,160 barrel per day refinery in Chalmette, La., trade sources said on Tuesday.
Recent market turmoil only warrants a change in interest rates by the U.S. central bank if it hits the outlook for inflation or growth, Federal Reserve Bank of Richmond President Jeffrey Lacker said on Tuesday, noting that price pressures remain a worry.
After a run that has seen sizzling growth top 10 percent for four years, analysts say China's supercharged economy is facing strains that could break out into an upsurge of inflation.
Oil prices jumped Friday after the U.S. Federal Reserve cut a key interest rate to calm financial markets and on concerns Hurricane Dean could hit Gulf of Mexico installations.
Peanut butter and jelly maker J.M. Smucker said Friday quarterly profit rose a better-than-expected 42 percent, helped by the acquisition of dairy company Eagle Family Foods, lower restructuring costs and gross margin improvement.
German producer price inflation dropped last month to its lowest level since early 2004, pushed down by falling energy prices, according to government figures released Friday.
Australia's central bank said on Friday it had intervened in foreign exchange markets overnight in an effort to restore some liquidity to the market for the Australian dollar.
Oil dropped as much as $3 Thursday, as credit and economic fears pounded global financial markets and spurred investor selling.
St. Louis Federal Reserve Bank President William Poole said on Wednesday financial market turmoil had not undermined the U.S. economy and there was no need for the central bank to ride to the rescue with an emergency rate cut.
Annual inflation in the 13-nation euro zone currency area eased to 1.8 percent in July to stay well within the European Central Bank's target area even though economists expect it to raise interest rates next month.
Consumer prices in Germany rose 0.4% in July from June and were up 1.9% from a year earlier, according to final figures from the Federal Statistics Office.
Oil prices rose on Tuesday as concerns about a newly formed tropical storm in the Atlantic countered fresh troubles in credit markets.
U.S. producer prices rose by a more-than-expected 0.6% in July, Labor Department data on Tuesday showed, but the gain was driven by energy costs and core inflation facing producers grew only slightly.
China's retail sales growth accelerated in July, the government said on Tuesday, reflecting strong household spending in the world's fourth-largest economy but also a pick-up in inflation that is worrying policy makers.
Galloping food prices boosted Chinese consumer inflation to 5.6% in July, the highest rate in more than a decade, leaving the central bank with a dilemma over whether to tighten policy further.