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Another record day for oil prices Tuesday, with Nymex crude settling above $100 for the second time in a week. What a run! Oil hit a low of $86 earlier this month and now its trading near $101. Today, we noticed some major similarities and differences with last week's sharp surge...
Oil closes at a new record of $100.88 per barrel, and is climbing higher in the electronic session, hitting levels of $101.28 and higher. How does that impact your prices at the pump?
Consumer confidence plunged in February as Americans worried about less-favorable business conditions and job prospects, a business-backed research group said Tuesday.
A top Federal Reserve official said Tuesday that the danger the U.S. economy will weaken further is a bigger worry than higher inflation.
The dollar fell to record lows against the euro and basket of currencies Tuesday on worries over the health of the U.S. economy and prospects of more Federal Reserve interest rate cuts.
Oil surged to $101 a barrel on Tuesday to within pennies of a record as investors reactedto weakness in the U.S. dollar following a batch of gloomy economic data.
Do the grim economic reports point the U.S. economy towards stagflation? The markets seem to be shaking them off...Today the producer price index (PPI) monthly report showed that producer price inflation surging in January to 1.0%, and that the core rate, ex. food and energy also firmed at 0.4%. The year-over-year PPI is at 7.7%, up from 6.5% in December, and is at the highest rate since September 1981.
The full text of a prepared speech by Federal Reserve Vice Chairman Donald L. Kohn on The U.S. Economy and Monetary Policy given on February 26, 2008.
The collapse in U.S. home prices accelerated to a record pace in the fourth quarter of 2007, with prices plunging 8.9 percent last year, according to a national home price index released on Tuesday.
Foreclosure filings rose 8 percent in January from December and increased nearly 57 percent from January 2007, showing that foreclosure activity continues its upward trend, data from RealtyTrac showed on Tuesday.
Inflation at the wholesale level jumped 1 percent in January on rising energy costs and posted the biggest 12-month gain in more than 26 years.
European shares closed higher across the board Tuesday after German business sentiment grew at a faster rate than expected in February and corporate earnings from the likes of Standard Chartered, Ferrovial and Persimmon were largely positive.
U.S. government bonds hold little appeal with inflation making a strong comeback, the manager of the world's largest bond fund said on Tuesday.
The U.S. Federal Reserve's credibility on inflation remains untarnished by its aggressive easing of monetary policy in the face of rising price pressures across many global commodity markets, a senior U.S. Treasury Department official said on Tuesday.
Asian stocks pulled back from an early rally to close broadly higher Tuesday. Japan ended weaker and South Korea closed flat. But Australia managed to hang on to its advance to finish in positive territory.
German corporate sentiment unexpectedly rose in February, a closely watched survey showed on Tuesday, suggesting Europe's largest economy is coping better with a global slowdown than other euro zone countries.
Weak consumer spending dragged down German growth in the final quarter of 2007 as inflation surged to a 14-year high, official data showed on Tuesday.
It was a rather lackluster session in the oil pits today. The bears tried to sell this morning, but didn't manage to build much momentum--and they may not be able to do so for a while. The April oil contract for NYMEX crude came with 30 cents of $100 overnight and settled just 77 cents shy of that triple-digit mark today.
Oil traded in a relatively stable range near $99 a barrel, supported by speculative buying, but with the impact of a Turkish incursion into oil-producing northern Iraq fading as a market factor.
The United States economy is already in recession and is set for a further slowdown with the dollar expected to remain under pressure, investment guru Jim Rogers said on Monday.
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