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“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.
Euro zone inflation slowed more than expected in April, an early estimate showed, but economic sentiment also deteriorated faster than forecast, pointing to slowing economic growth.
Singapore's unemployment rate rose to a seasonally adjusted 2 percent in the first quarter amid mounting uncertainties in the global economy, and analysts warned the jobless rate may climb higher in the months ahead.
Japan's industrial production fell far more than expected in March, pushing up Japanese bond prices and stoking worries that U.S. economic woes are hitting Japanese companies.
Wednesday holds the first-quarter GDP report as well as the Fed's interest rate decision. Find out what to expect from both.
Sure, consumer confidence is at a 5-year low. You wouldn't know it by looking at these credit-card stocks.
Oil fell more than $3 a barrel on Tuesday, retreating further from a record high hit a day before, as the dollar firmed and a strike ended at Britain's Grangemouth refinery.
Oil hit a fresh peak near $120 a barrel on Monday as supply outages in Nigeria and Britain shut down nearly 2 million barrels per day (bpd) of output in the Atlantic Basin.