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Soaring food costs drove up China's inflation in October, reinforcing expectations that the central bank will raise interest rates again before long to keep a lid on price pressures. Consumer price inflation quickened to 6.5 percent in October, matching the near 11-year peak scaled in August, from 6.2 percent in September.
U.S. stock indexes closed lower as a rally in financial shares lost steam late Monday, pushing down markets already pressured by falling tech shares.
Oil slid $1.70 on Monday, after key OPEC member Saudi Arabia said the cartel would consider raising production, to halt crude's climb toward $100 and safeguard world economic growth.
As Ron Paul's online army is well aware, I have been candidly skeptical about the Texas Congressman's chances of actually winning anything in the Republican race for president. But after spending part of the weekend on the campus of my alma mater, Duke University, I was reminded of a salient fact I had overlooked: Paul attended Duke Medical School.
Why is a dollar worth more today against the euro than it was last week? Does it have anything to do with the fundamentals of the US economy?
The dollar rose against the euro on Monday, as the European currency backed off all-time highs set last week.
Soaring food and petrol prices pushed British factory gate inflation to its highest level in nearly 12 years in October, denting expectations that interest rates are about to fall.
Asian markets closed sharply down Monday, with investors dumping stocks and seeking safer bets after more evidence that U.S. subprime-mortgage related woes continue to feed into the global banking sector and economy. Japan and South Korea closed sharply lower, with today's losses wiping out all of the Nikkei's gains for 2007.
China on Monday posted a record trade surplus for October, but the total was smaller than expected, as climbing raw material costs and strengthening domestic demand gave a boost to imports.
Japanese wholesale prices rose slightly more than expected in October from a year earlier on rising oil prices, but investors, preoccupied with global markets, stuck to the view that the Bank of Japan will wait until next year to lift rates.
Australia's central bank on Monday raised its forecasts for underlying inflation to above its 2 to 3 percent comfort zone, strongly suggesting that further increases in interest rates might be needed to restrain price pressures and cool the red-hot economy
Extreme volatility will likely rip the stock market again in the coming week, while investors consider some fresh economic data and a last blast of earnings news. Tuesday marks one month to the day before the Fed's next rate meeting.
US stocks closed sharply lower Friday on an incessant stream of bad news in financials and technology that bled over into the rest of the market.
Oil ended above $96 Friday on winter fuel supply concerns, a tumbling U.S. dollar and big options positions betting oil could strike $100 next week.
With rapid fluctuations becoming commonplace in the major stock indexes, about the only thing there is to be certain of is uncertainty.
Of all the numbers in our NBC-WSJ poll, this one really stood out for me: among voters in the highest income group--those earning more than $100,000--they want a Democrat to win the White House next year by 48 percent to 41 percent.
Soaring global oil costs helped drive U.S. import prices up at the steepest rate in nearly 1-1/2 years during October, according to a Labor Department report on Friday that was likely to heighten concern about energy-driven inflation.
The dollar fell to one-and-a-half-year lows versus the yen Friday, as fears of wider credit-related losses at U.S. financial institutions had investors dumping risky assets and anticipating more Federal Reserve rate cuts.
1st pThe European Central Bank is ready to head off inflation risks, policymakers said on Friday, a day after leaving interest rates on hold for the fifth month in a row.
Euro zone economic growth will be slightly better than expected this year thanks to a robust third quarter, but financial market turbulence will slow it next year and in 2009, the European Commission said on Friday.