CNBC's Bob Pisani and Art Cashin, of UBS, discuss the pop in crude and talk of European sanctions.» Read More
Economists have soured on the U.S. economy's prospects for the second half of 2008 and have cut growth forecasts for next year as well, a closely watched survey released Monday showed.
The dollar extended last week's rally and rose versus the euro on Monday as investors assessed how hard the slowdown blighting the U.S. economy would hit the rest of the world.
European shares rose to six-week highs on Monday as the euro boosted exporters such as automotive stocks, while fighting between Russia and Georgia gave early support to crude oil prices that helped the energy sector.
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Just the potential for a U.S. recovery will bring "enormous" amounts of under-invested cash back into the stock market, the head of an investment group said.
Australia's central bank on Monday said the economy looked to be slowing enough to significantly reduce inflation over time, providing growing scope to ease interest rates from 12-year highs.
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The dollar soared Friday in what analysts are calling a game-changing move as concerns about the deteriorating euro zone economy gripped investors and commodities sold off.
For the week ending Friday, August 8, 2008, the U.S. markets ended the week on a positive note, cheered by a retreat in commodity prices, a Fed’s decision to keep rates steady at 2%, better-than-expected results in pending home sales, and a stronger dollar.
European shares ended a volatile session with gains on Friday as a sharp drop in crude oil more than offset initial disappointment over earnings from U.S. home lender Fannie Mae.
Oil tycoon T. Boone Pickens is building a million-person "army" that he says will pressure the nation's leaders to adopt a more responsible energy policy.
Although Fannie Mae cut its dividend by 30 cents, taxpayers shouldn't be forced to protect shareholders of government-sponsored enterprises, said Joseph Stiglitz, a Nobel Prize winning economist.
U.S. productivity grew at a weaker-than-expected 2.2 percent during the second quarter despite a rise in output and lower unit labor costs than during the first quarter, a Labor Department report on Friday showed
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South Korea's annual producer inflation climbed to a fresh 10-year high in July, suggesting consumer prices may rise further, but analysts said a peak could be nearing with falling oil prices.
China's economic growth is expected to stabilize in the third quarter, helped by a shift of government policy towards sustaining growth, a major government research institute said on Friday.
Stocks ended near session lows as oil ended above $120 a barrel and two Dow components missed the Street's targets.
Stocks pared some losses Thursday afternoon as oil prices flattened out. Putting pressure on stocks today was a quartet of dismal news: a rise in jobless claims, oil's resurgence, Wal-Mart's sales miss and AIG's wider-than-expected loss.
European shares ended Thursday's choppy session down slightly as concern about the reach of the credit crunch offset a potentially supportive shift in market expectations for no more euro zone rate rises this year.
The dollar index rose to a 5-1/2-month high Thursday after a surprise rise in the U.S. pending home sales index for June.
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