NUSA DUA, Indonesia, Dec 7- The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreement that could add $1 trillion to the global economy.» Read More
This is the first of three posts today from guest blogger Tom Kloza. Tom is Chief Oil Analyst at OPIS (Oil Price Information Service) and has his own blog. He has been writing about downstream oil markets since 1975 and was among the founders of OPIS over 25 years ago.
The number of workers applying for jobless benefits surged last week, but personal spending in March was stronger than expected, government data showed.
The scale of losses and the economic fallout from the credit crunch may not be as bad as feared and sub-prime write-offs could end up costing less than half market forecasts, the Bank of England said on Thursday.
South Korean exports in April rose more than expected and by their fastest annual pace in more than three years, data showed on Thursday, easing worries about the impact of a sluggish global economy on the country's sales abroad.
China's official purchasing managers' index rose to 59.2 in April from 58.4 in March, boosted by strength in output and new orders, the China Federation of Logistics and Purchasing said on Thursday.
The Japanese and Australian markets closed lower in the afternoon session Thursday. Trading was quiet with most markets in the region closed for the Labour Day holiday.
There are a lot of ways to describe what the Fed did today: it took the rate-cut punch bowl off the dining room table, but didn't pour out the punch. It took a baby-step towards neutral, not a grown-up step. That means it preserved the ability to cut if it needs to.
“The news on the economy is going to be pretty much unrelentingly bad in the next few months,” says one economist, who thinks the Fed may keep cutting after today.
Oil fell $2 a barrel, extending a retreat from a record high this week to more than 5 percent after a US government report showed crude oil stockpiles rose much more than expected in the world's top energy consumer.
The full statement released by the Federal Open Market Committee after its meetings held from April 29-30 on interest rate policy.
The Federal Reserve trimmed interest rates to 2% but left markets guessing about whether further cuts would be needed.
U.S. News & World Report's "Jimmy P" Pethokoukis and economist Jerry Bowyer - both regular contributors to Kudlow & Company - deliver two amusing takes on today's GDP number and the muddled response from the economic punditocracy.
What's wrong with this picture? Crude oil is on a tear, but ExxonMobil shares have barely budged in NINE months. Can tomorrow's earnings knock the oil giant out of its trading range?
Even though the economy continued to grow in the first quarter, many economists believe we're already in a recession.
The dollar reversed gains against the euro on Wednesday as traders concluded that the Federal Reserve's statement after its policy meeting left the door open for further interest rates cuts.
Today's NYMEX trading session may prove to be one of the most critical of the year. There is the distinct possibility that key "magic numbers" that have bracketed the most recent leg of the crude oil price rally will be approached in a highly volatile Wednesday session.
“The news on the economy is going to be pretty much unrelentingly bad in the next few months,” says one economist, who adds there’s good chance the Fed will keep cutting rates after Wednesday's meeting.
The bruised economy limped through the first quarter of this year at only 0.6 percent as housing and credit problems forced people and businesses alike to hunker down.
U.S. private-sector employers unexpectedly added 10,000 jobs in April according to a private report by ADP Employer Services released on Wednesday.
Most Asian markets closed lower Wednesday ahead of the U.S. Federal Reserve rate decision later in the session. Japan finished slightly lower, but Shanghai was the stand out performer, up almost 5 percent.