Bill Gross, manager of the world's largest bond fund at Pimco, said that income, rather than capital gains, would drive future returns.» Read More
After a rough summer, Wall Street is gearing up for an even rougher fall as the financial crisis, housing slump and economic pressures show no signs of abating.
Euro zone producer prices jumped in July on surging oil prices, data showed, but less than expected by markets watching for signs of easing inflationary pressure that would make room for an ECB rate cut.
Wall Street will get back to business fast Tuesday as it assesses the aftermath of Hurricane Gustav and starts to consider the first of a number of important economic reports this week.
There will likely be some relief on Wall Street after it appeared that Hurricane Gustav hadn't damaged the Gulf Coast as badly as many feared — and in turn sent oil prices falling sharply.
European shares fell on Monday, led by weaker commodity stocks tracking falling oil and metals prices, while Commerzbank slipped 10 percent after it agreed to buy Dresdner Bank from Allianz.
The dollar rose on Monday to its highest this year against a basket of major currencies, boosted by a sharp fall in oil prices, while sterling extended its recent slide and fell to new record lows against the euro.
If the decline in Commerzbank's share price this morning tells us anything about investor sentiment towards the $14.5 billion deal to combine Commerzbank and Desdner, the market thinks they overpaid.
U.S. activist hedge fund Atticus Capital has lost more than $5 billion this year, a source familiar with the matter told Reuters, after its funds were hit by heavy falls in financial stocks.
European shares were expected to fall on Monday, tracking losses in U.S. and Asian stocks as Dell's warning on corporate technology spending continued to hit tech stocks while investors fretted about the impact of Hurricane Gustav.
Australia's current account deficit shrank by a third last quarter thanks to booming resource exports, though trade still proved a slight drag on economic growth.
Indonesia's central bank governor said he would "do whatever it takes" to bring annual inflation below 10 percent in 2009, from 11.9 percent in July, as elections next year will ensure strong economic growth.
Gustav has unfurled a wall of worry for stocks in the week ahead.
For the week and month ending Friday, August 29, 2008, the major U.S. Indices ended slightly lower for the week but up for the month. The markets had a volatile week, sinking first on housing price drops and an up-tick in oil prices, then rallying on better-than-expected GDP numbers, and finally falling to end the week on worse-than-expected personal income and spending data. The Dow hit a 200+ point rally on Thursday, its largest one day gain since 8/8. The NASDAQ led the indices to the downside this week, down nearly 2%. For the August close, the Dow, Nasdaq and S&P all finished up 1.5% or more, marking the best monthly gain since April for the Dow & S&P, and best month for the Nasdaq since May.
The U.S. dollar rallied against a currency basket Friday, on track for its best monthly gain in nearly 16 years, boosted by a batch of data showing a far more stable growth path for the United States than the rest of the world.
Neither of the two contenders for president understands the economy and they are likely to cause more problems than they would solve, investor Jim Rogers, CEO of Jim Rogers holdings, told "Squawk Box Europe" on Friday.
There's an interesting theory when it comes to the SUV market. It goes like this: now is the best time to buy an SUV because the used market has bottomed out and prices will soon start going up. The more I've heard this, the more I've talked with dealers. And you know what their reaction is? A good laugh.
The head of the European Central Bank should be running the Federal Reserve because he is doing a better job at protecting his economy, investor Jim Rogers, CEO of Rogers Holdings, told "Squawk Box Europe" on Friday.
European shares are set to open slightly higher on Friday, extending the previous session's sharp gains, after a big upward revision in U.S. second quarter growth, but oil prices rose on supply concerns.
Ding, dong Dell. The computer marker's after hours earnings miss could put a dent in tech in Friday's quiet, pre-holiday session.
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