SINGAPORE, Oct 21- Gold retained overnight gains on Tuesday to trade near a one-month high as Asian equities and the dollar marked time, with markets awaiting China and U.S. data to gauge the strength of the global economy. *Gold jumped to a one-month high of $1,249.30 last week as fears over a slowdown in the global economy sent investors chasing after safe-haven...» Read More
An overnight selloff in the Chinese market caused the Shanghai Composite Index to fall 6.5%, just one day after hitting all-time highs. Marc Pado, U.S. market strategist at Cantor Fitzgerald, and J.J. Burns, president of J.J. Burns & Company, joined CNBC’s Mark Haines on “Morning Call,” to discuss whether the exuberance that has driven China’s stock rally will evaporate and hurt global markets.
Lynic Wang dreams of buying his own home. The problem he faces is how to make enough money to buy that dream house in an expensive city like Shanghai. Wang’s solution – invest in the red hot Chinese stock market.
The morning-after-the-night-before mood is haunting the European bourses from the open Wednesday. Investors could be forgiven for being nervous, the Chinese bourses sold off on news the government is tripling the tax charged on share transactions.
Australian retail sales expanded at their slowest pace in almost a year in April as shoppers pinched pennies after three months of heavy spending, though analysts argued the outlook for consumption remained strong.
Japan's industrial production unexpectedly fell in April from the previous month, adding to concern that output growth may be losing momentum on a slowdown in U.S.-bound exports, and nudging up euroyen futures.
Stocks closed moderately higher, with the Dow rising in late trading, as investors found encouragement in continued M&A news. "The private equity game, in my view, is in the early innings and corporate credit spreads are telling you that," said Jason Trennert, chief investment strategist at Strategas Research Partners.
U.S. crude oil prices slid as much as 4% Tuesday; and gasoline followed suit. Is the bull market winding down? Stephen Schork, editor of The Schork Report, and Eric Bolling, independent oil trader and CNBC contributor, told "Street Signs" viewers that it "could be the beginning of the end" -- but they don't recommend getting out of the market just yet.
The dollar edged lower against the yen after China said it would raise a stamp duty on stocks in an attempt to cool its equity markets, prompting concerns about risky trades financed by borrowing in the Japanese currency.
What value do the comments of a former Fed Governor have? Enough to move markets is the obvious reply.
Consumer confidence bounced back in May, despite higher gasoline prices that could raise shoppers' worries about inflation, a private research group said Tuesday. The Conference Board said its Consumer Confidence Index rose to 108.0 in May, up from a revised 106.3 in April. Analysts had expected the reading to fall to 104.5.
Japan's jobless rate fell to a nine-year low in April while the availability of jobs improved for the first time in nine months, signaling a tight labor market and boosting the Bank of Japan's case for a rate increase.
Stocks in Europe drifted Monday, boosted by strength in Asian markets, but volume will be low with many exchanges closed for a public holiday.
The U.S. dollar hovered near a six-week high against the euro and its strongest versus the yen in three months on Monday as traders determined that weak U.S. housing data late last week was not enough to warrant a cut in U.S. interest rates later in the year.
The European Union will seek cooperation from China and other Asian states on international crises ranging from Kosovo to Iran and Sudan in two days of meetings starting in Hamburg onMonday.
The dollar eased against the euro after a surprisingly weak report on existing home sales rekindled worries that a downturn in the U.S. housing sector may have further room to run.
Stocks rose on Friday following two multibillion-dollar acquisitions, but the Dow and S&P snapped seven straight weeks of gains. "There's a little caution in the marketplace," said Bill Nichols, director of trading at Bear Stearns. "You've come a long way in a short time, so you can expect a little profit-taking over the next couple weeks."
China's Vice Premier Wu Yi in a speech Thursday night rebuffed U.S. demands for trade and currency reforms. President Bush commented that he was "disappointed." What does this mean for trade relations between the two key economic powers? Morris Reid, former Commerce Department aide under President Bill Clinton, and Kellyanne Conway, president and CEO of The Polling Company, gave their opposing views on "Morning Call."
Sales of existing homes fell by a larger-than-expected amount in April while the median price of a home sold during the month fell for a ninth straight month as the troubles in the subprime mortgage market acted as a further drag on housing.
Sales of new U.S. homes rose 16.2 percent in April, the sharpest climb in fourteen years, while prices fell a record 11 percent, according to a government report on Thursday that showed home builders taking extraordinary steps to move houses.
About ten years ago, my editors dubbed me the Bond girl... for all the wrong reasons. It was my coverage of debt capital markets that earned the nickname. Since then, I've had an affection for fixed income markets. Yes, bonds are rather dull and poorly understood but they are frankly one of the most important things you need to know about, in order to make sound financial decisions.
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