JERUSALEM, June 18- The European Central Bank is ready to act to aid the euro zone economy if needed, while signs of market stabilisation mean interest rates are becoming a more effective tool again, ECB chief Mario Draghi said on Tuesday.» Read More
U.S. futures trading will resume at 6am after the holiday. The U.K. market is closed today. Italy plans to auction 8.5 billion euros worth of bonds this week. The euro holds above its 11-month low. Asian markets post losses in thin trade as investors await U.S. data. The Shanghai Composite hits a three-year low on liquidity worries. And the Nikkei-225 is on track for double-digit losses for the year.
The global markets. European stocks rise to a two-week high, although volume is extremely light heading into the holiday. Moody's keeps Austria's AAA rating with a stable outlook. Ten-year Italian bonds remain near 7 percent -- Italy will hold a series of bond auctions next week. Greece must decide whether it will take a 70- or 50-percent haircut. And a decision on European downgrades will come in January, according to S&P. With Dan Greenhaus, BTIG chief global strategist, and Stephen Weiss, Short Hill Cap
U.S. futures are up the last trading day before Christmas and a day after the House agrees to accept Senate terms on the payroll tax cut. In Europe, the markets rally into the holidays. The euro is slightly up against the dollar.
In the U.S. the payroll tax standoff ends. Futures are up moderately on light trading. In Europe, the markets are up slightly, as well. Meanwhile, in Asia, trading was light as the markets were mostly up on U.S. growth hopes.
U.S. markets gain on lower initial jobless claims, higher consumer confidence and falling gas prices. U.S. Q3 GDP was revised down to 1.8 percent from 2 percent, though. American Greetings falls 37 percent on higher marketing costs. And Wendy's beats out Burger King to become the 2nd largest fast food chain.
Markets are mostly up in Europe at the close, although weak U.S. GDP data tempers gains. Banks are among the best performers. Mario Monti's "Save Italy Decree" wins passage. UK third quarter economic growth was faster than expected. German tech company Billsafe is bought by eBay. And Hungary's credit rating is downgraded to junk status by S&P. With J.J. Kinahan, TD Ameritrade.
Europe is up a day after the ECB's 3-year LTRO. Banks lead the euro zone rally even though funding concerns remain. Italy's Mario Monti faces a final vote on austerity today. The euro is slightly up against the dollar. IAG secures $270 million BMI deal with Lufthansa, mostly for landing slots at Heathrow Airport.
U.S. futures are up after a mixed session on Wednesday. In Asia, pessimism remains over euro zone debt issues. Technology is still in focus after Oracle's miss. Weak Christmas sales are dragging the retail sector down. Markets are up in Europe a day after the ECB's 3-year LTRO. Banks lead the rise in shares. Markets await final reading on Q3 U.S. GDP. IAG plans to buy BMI from Lufthansa for 172.5 million euros. The sale is seen as positive news for the German airline.
The U.S. markets are moderately lower, as volume gets lighter toward the end of the year. Oracle earnings weigh heavily on the Nasdaq, as the company misses earnings for the first time in a decade. Housing related stocks are mixed even though sales of previously owned homes rise in November. And RIMM shares jump on report that the company has rebuffed takeover talks.
European stocks rise, then sell off. A total of 523 banks borrow 489.2 billion euros in ECB funding, well above expectations. Banks likely to use most funds to pay down existing debt. Red Hat and Oracle misses weigh on tech stocks. Slow and painful 2012 ahead for Europe, according to SocGen economist. The MF Global U.S. trustee pursues $700 million in the UK. HSBC sells Japan private bank to Credit Suisse. UK consumer morale falls to its lowest level in nearly three years. With Dan Greenhouse BTIG chief global strategist.
European markets are up as the ECB lends out 489.2 billion euros in first-ever 3-year lending operation, well ahead of the 310 billion euro expectations. Banks are higher on the day, while the euro is volatile following the ECB allotment. And the Bank of England votes to hold the bank rate unchanged at .5 percent.
Futures are up in the U.S. this morning. Europe is up as banks trade higher. The ECB plans to hold its first 3-year liquidity operation today. Italian GDP contracts .2 percent in the 3rd quarter. Italian and Spanish yields fall ahead of ECB 3-year LTRO. The Bank of England's MPC voted 9-0 to hold bank rate unchanged at .5 percent in December. China stocks fall despite pension fund injection reports. And Taiwan equities near a two-week high on government's funding pledge.
Famous economist Nouriel Roubini, credited for predicting the financial crisis, made a plea to policymakers to take the tough action needed to address current economic problems, in an article published on the Financial Times' website.
What were the biggest business stories of the year? Many a journo-hotshot will be glad to tell you. But here at CNBC.com, we like when our readers tell us what interests you.
U.S. markets take a cue from Europe, heading up on strong housing starts and a plunge in Spanish debt yields. Financials make a comeback after taking a beating yesterday. Jefferies soars after Q4 profit beats estimates. AT&T is up even though the company dropped its bid for T-Mobile yesterday. And Red Hat's poor forecast takes its toll.
European shares post gains after upbeat U.S. housing data. Short-term yields plunge in the latest Spanish Treasury bill auction and German business sentiment posts an unexpected rise. The Greek Finance minister announces the country is close to a deal with private creditors. Bank stocks are among the best European performers on the day and health care stocks slide on bearish news for two Astrazeneca drugs. In the U.S., builders are up, as are utilities. With Patrick Arbor, Shatkin Arbor, James Keenan, BlackRock, and Mike Murphy, Fast Money trader.
Spain sold more than its maximum target of Treasury bills Tuesday as borrowing costs declined and demand soared. Meanwhile strong German IFO data boosts the euro.
U.S futures begin the day up. Bargain hunting in Asia brings mixed day to markets as investors remain cautious over the euro zone. The market in Britain is lower but the rest of Europe is up as yields for short term Spanish bonds plummet. The euro gets a boost from better-than-expected German IFO data. Deutsche Telekom is down after AT&T announces it's pulling out of its $39 billion bid to acquire T-Mobile USA.
A break-up of the euro would be “absurd” and “unthinkable,” Vítor Constâncio, Vice-President of the European Central Bank (ECB), told CNBC Tuesday.
The U. S. markets are down after losing early gains. Financials weigh on the markets and an explosion at an Apple components factory in Shanghai creates concerns over iPad 2 production. Kingdom Holdings invests big in Twitter. And homebuilder sentiment rises for the third straight month, according to the NAHB.