Discussing how to play the Chinese economy amid concerns of its slowing economy, with Kenny Polcari, O'Neil Securities, and CNBC's Bob Pisani.» Read More
The European Central Bank kept rates on hold at 4 percent as expected on Thursday, bucking a global trend of monetary easing amid increased turmoil in the financial markets.
Major indices at their highs for the day. Helping today: Initial jobless claims roughly in line with expectations. Bush/Congress tackles mortgage issues. SIVs less a problem?
The Bank of England cut its main rate by a quarter of a percentage point to 5.5 percent Thursday amid fears of an economic slowdown because of a spillover from the credit crunch.
I paid $67.31 to fill up my car yesterday. A few disclaimers. First, the fuel red light had been on for a WHILE. The needle sat decidedly below empty, and I'm pretty sure my car was in the process of applying for a credit card so that it could get gas on its own and not wait for me to get off the dime.
This is a timeline of the European Central Bank's rate decisions for 2007.
Asian markets closed mostly higher Thursday, as investors were cheered by upbeat U.S. data. Australia, South Korea and Japan all finished higher, but Singapore and China slipped into the red.
New Zealand's central bank held interest rates steady on Thursday at 8.25 percent as expected, and said it was likely to keep them there for longer than it had previously thought because of increasing inflation concerns.
Oil dropped below $88 per barrel Wednesday, as signs of a U.S. economic slowdown outweighed fears that tight-fisted OPEC policy could spark an energy crunch during the height of the winter heating season.
The dollar rose to a one-month high against a basket of currencies Wednesday after reports showing robust job growth and productivity gains suggested a milder slowdown in the U.S. economy than many had thought.
With major central banks cutting rates right and left, the European Central Bank risks being the only one fighting the monetary-easing trend. But there seems to be no other option for the ECB.
The Bank of England is still expected to hold interest rates at 5.75 percent on Thursday, but analysts say it is a close call, as expectations shifted towards the possibility of monetary easing following weak economic data.
Verbal intervention to try to stop the euro's advance is all that exporters will get for the moment, but if the going gets tough things may change, analysts say.
The United States is at an "elevated" risk of economic recession because of housing woes, faltering confidence within financial markets and high oil prices, the nonpartisan Congressional Budget Office said Wednesday.
Growth in the U.S. service sector slipped in November, indicating some parts of the economy were feeling the effects of the housing downturn and credit market strains, according to a report released Wednesday.
U.S. private employers added 189,000 jobs in November, a report by a private employment service said on Wednesday, much higher than market expectations.
Asian markets closed in positive territory Wednesday, with the exception of Australia's S&P/ASX 200 index, despite growing fears the U.S. economy might slip into recession. Both South Korea and Japan closed higher after spending most of the morning in negative territory.
Australia's central bank skipped a chance to raise interest rates on Wednesday as turmoil in global credit markets clouded the outlook for the world economy, even as economic growth at home hit a three-year high.
Abby Joseph Cohen, chief investment strategist at Goldman Sachs, says the U.S. economy will rebound in mid-2008, but the next few months will be bumpy.
Hi all. This is my first post for Energy Source and like Melissa says, we hope this blog to be informative and fun. So, here I go. Questions, questions. I've been hearing a lot of questions about OPEC lately. In fact, OPEC talk has been all-consuming for the past week as oil prices have slid from over $99 a barrel to a six-week low under $89. But the bigger question many analysts and traders are asking is does OPEC really matter?
Oil prices crept back up to end over $88 per barrel Tuesday, as traders reacted to mixed signals on whether OPEC would decide to increase production during its meeting this week.
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