Geoff Lewis, Global Market Strategist at J.P. Morgan Asset Management, says a recovery in the U.S. and Europe can provide stabilization for commodities in the second-quarter.» Read More
The European Central Bank would be ready to raise interest rates again if necessary, new ECB Governing Council member Athanasios Orphanides said in a German newspaper interview published on Thursday.
One maverick floor broker made the play that pushed the price of oil to $100 on the first trading day of 2008. He bought a single contact, just one lot for a mere 1,000 barrels of crude at that triple-digit mark, and made history.
Oil's rise to $100 per barrel and beyond is likely to continue for awhile, but the duration of the run will be ultimately be determined by geopolitical events more than current supply expectations.
The text of the minutes released January 2, 2008 from a Federal Open Market Committee meeting held on December 11. 2007.
Oil closed at a record $99.62 a barrel after briefly hitting $100, as violence in Nigeria, tight energy stockpiles and a weaker dollar triggered a surge of speculative buying.
Fed members worried last month that a credit crunch could sharply brake economic growth and require big rate cuts, minutes of the December meeting show.
European shares ended the first day of trading in 2008 on a negative note Wednesday, as worries over global growth -- exacerbated by evidence of a contraction in U.S. manufacturing -- overshadowed news of consolidation in the banking sector.
The dollar fell Wednesday, hitting a one-month low against the yen, after a gauge of the U.S. manufacturing sector last month tumbled to its lowest level since April 2003, increasing expectations for more Federal Reserve interest rate cuts.
Maybe it's because of the Iowa caucus' taking place Wednesday night. Maybe it's because at the start of a new year, it's a good time to make predictions. Or maybe it's because the auto show season is about to kick off with the automakers putting out their visions for the future. Whatever the reason, I think today is the day to ask YOU which automaker has the most to show, prove, gain, lose in 2008?
U.S. factory activity contracted in December, ending 10 consecutive months of expansion, with activity falling to its weakest since April 2003, according to an industry report released Wednesday.
After pumping in billions of euros to banks eager for cash in December, the European Central Bank on Wednesday said it would -- as expected by money markets -- remove much of that money.
Asian markets kicked off the new year under pressure on worries about a slowing global economy. But oil and gold prices continued to edge higher approaching record highs.
Singapore's trade-driven economy shrank for the first time since 2003 in the fourth quarter as weak manufacturing dragged on growth and momentum is expected to weaken further in 2008.
China's economic growth and consumer price inflation are expected to slow moderately thisyear as cooling policies take effect and food supplies increase, a major government research institute forecast on Wednesday.
The dollar rallied against the euro but slipped against the yen in the final trading day of 2007 Monday, though dealers resisted making big bets until volume increases after New Year's Day.
U.S. crude futures finished a volatile session slightly lower, slipping from an earlier high in thin, pre-holiday trading as traders squared books at year's end and January products futures contracts approached expiration.
Pakistan will delay parliamentary elections by at least four weeks after a wave of violence triggered by the assassination of Benazir Bhutto.
European equities ended flat on Monday in thin trade as key markets stayed closed, with the region notching a slender gain of 1.5 percent in 2007, its worst performance since 2002 as a credit crunch whacked stocks.
European stocks had a turbulent second half in 2007 and are still in largely in recovery mode as the year draws to an end.
How did you do this year? Was it Germany, up 22%, or Italy, down 7%? The past year turned out to be a game of two halves and the footballing metaphor has become the favorite shorthand among the strategists for 2008. That almost certainly means it won't be, but let's run with the metaphor for a little while longer.
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