NEW YORK, Dec 9- Stock markets worldwide rose on Monday and the euro climbed to a six-week high against the dollar after Chinese trade and inflation data boosted optimism about the global economy.» Read More
Australian employment growth slowed in June from the furious pace of previous months while the jobless rate ticked up from 33-year lows, easing pressure for a restraining rise in interest rates.
Stocks closed higher as investors were encouraged by healthy merger activity and encouraging news for the worrisome subprime mortgage market. "There was concern today that there would be selling follow-through, but the markets are hoping earnings will propel things higher," said Peter Dunay, investment strategist at Leeb Capital Management.
A fine old storm we cooked up on the show this morning, and as is often the case the viewers were asking some of the toughest questions. Why had it taken the ratings agencies so long to decide some subprime debt needed reviewing? What else could be out there and are the agencies playing catch up?
U.S. mortgage applications rose last week, fueled by increased demand for home purchase loans even as interest rates hit their highest level in nearly a year, an industry group said Wednesday.
European banking stocks were among the hardest hit in a global selloff Wednesday as investors feared U.S. subprime weakness could spread to European mortgage lenders.
Japan's current account surplus expanded for the fifth straight month in May, rising 31.1% from a year earlier, the Finance Ministry said Wednesday, auguring well for economic growth in the second quarter.
Stocks closed with losses of more than 1% after investors were spooked by earnings warnings from two major retailers amid persistent concerns regarding the housing market and subprime mortgages. "Home Depot's cautious comments set the negative tone," said Dan McMahon, head of listed trading at CIBC World Markets.
Stocks in Argentina, Brazil, Columbia and Mexico are posting big gains.
Inventories of unsold goods at U.S. wholesalers rose 0.5 percent in May, boosted by a buildup in a range of goods including automobiles, metals and electrical supplies, government data showed Tuesday.
China's trade surplus hit a record $26.91 billion in June from $22.5 billion in May, an increase likely to intensify calls for Beijing to let the yuan climb more quickly.
China's yuan rebounded against the U.S. dollar on Tuesday after retreating for four straight trading sessions, guided by the central bank setting a record-high mid-point.
Singapore's trade-driven economy beat even the most optimistic forecasts, growing at an annualized rate of 12.8% in the second quarter, its fastest pace in two years, thanks to a manufacturing rebound and soaring construction.
Stocks ended higher on Monday, but gains were held in check as investors awaited the start of the second-quarter earnings season. "We're getting into earnings season, and what we've seen so far is good, so we think there is going to be an upward bias," said Joe Ranieri, head of NASDAQ trading at Canaccord Adams. "It's good but scary."
Consumer borrowing posted a hefty increase in May, reflecting the biggest jump in credit card debt in six months.
With the U.S. economy creating jobs at a steady pace, the Federal Reserve will need several months of softer price gains and evidence wages are not picking up before its anxiety about inflation subsides.
Boom! Monday morning and the Chinese markets notch up 3% intra-session. Oil hangs on to $75 a barrel, the dollar is firm and European bourses are fired up to make early gains. If the de-risking trade is on-going into what traditionally should be a Summer slowdown then it is proving tricky finding the evidence.
British housebuilder Bovis Homes said on Monday its first-half profit met its expectations but struck a cautious note on prospects and reported a slowdown in visitors and reservations.
Japan's core private-sector machinery orders rose more than expected in May, pointing to solid corporate capital spending and bolstering the case for a Bank of Japan rate hike in August.
German Chancellor Angela Merkel has made it clear to French President Nicolas Sarkozy that Germany will firmly resist any efforts to impinge upon the European Central Bank's independence, Der Spiegel news magazine reported on Sunday.
Stocks ended a holiday-shortened trading week higher as investors shrugged off rising interest rates. The Dow ended the week up 1.4%, the S&P 500 rose 1.6%, while the Nasdaq Composite closed with a weekly gain of 2.2%.