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Some interesting comments came out from Goldman Sachs today. Goldman economists raised the odds of recession in their latest forecast but they also said they believe the Fed will act even more aggressively to prevent it.
U.S. consumer confidence fell unexpectedly sharply in November to a two-year low on worries about rising gas prices and financial market volatility.
Goldman Sachs on Tuesday slashed its target for the expected trough in U.S. benchmark interest rates by a full percentage point, citing an increased probability of recession and the likelihood of a prolonged period of sluggish performance for the U.S. economy.
The dollar rose against most major currencies Tuesday after Citigroup Inc. said it will sell a $7.5 billion stake to the Abu Dhabi government, restoring some confidence in battered U.S. banks.
It's hard for me to find a more perplexing automaker than Volkswagen. Mainly because it is a brand and a company with so much potential, so much brand loyalty, and yet, from my perspective, it has not achieved what it should.
German business sentiment unexpectedly improved in November for the first time since April as firms took a more upbeat view about their current situation and shrugged off concerns about the strong euro.
Asian markets see-sawed in volatile trade Tuesday to end mixed as financial counters rebounded on news that Citigroup will receive a large cash infusion from the investment arm of the Abu Dhabi government. The news pushed the Japanese and South Korean markets back into the black after spending most of the session in negative territory.
A parade of economic data in the next couple weeks will tell volumes about the economy and the Fed’s chances for achieving a soft landing.
Read the full text of Sen. Chuck Schumer’s letter to Federal Home Loan Bank Chairman Ronald Rosenfeld, urging an end to cash advances for Countrywide Financial.
Oil prices were down as Saudi Arabian officials told CNBC that the country is increasing November production ahead of a planned Dec. 5 meeting of the Organization of Petroleum Exporting Countries.
The U.S. Federal Reserve and European Central Bank announced plans to pump more funds into troubled money markets to give banks enough cash to tide them through a year-end squeeze.
The dollar was little changed against the euro and down against the yen Monday with investors finding few reasons to change their view that more Federal Reserve interest rate cuts are imminent.
The odds now point to a U.S. economic recession that slows global growth significantly even if necessary policy changes are implemented, former U.S. Treasury secretary Larry Summers said.
Asian markets surged to close firmly in the green Monday, with the exception of China's Shanghai Composite index, reversing four straight weeks of losses. Tokyo gained 1.6 percent, but South Korea came out tops with a whopping 4.7 percent advance.
Credit worries and concerns that the economy is slowing are likely to continue sending shock waves into the stock market in the week ahead. But any signs that the holiday shopping season will be stronger than expected could help confidence.
Oil rose above $98 per barrel on Friday, still in sight of the $100 milestone, reflecting moves in the U.S. dollar and amid signs some OPEC members have been raising output ahead of their policy meeting next month.
The euro set a fresh record high against the dollar early Friday, though the $1.50 level remained out of reach when the euro was knocked more than a cent off its peak by comments from a euro zone policymaker.
European Central Bank policymakers said Europe's growth outlook was deteriorating and warned of the risks attached to "brutal" currency movements after the euro hit new highs against the dollar on Friday.
Former Federal Reserve Chairman Alan Greenspan said on Friday that U.S. house prices have not bottomed out after a crisis in the subprime mortgage market.
It was a mixed session for Asian stocks on Friday with some markets gaining ground as investors picked up beaten-down shares after a six-session losing streak. But trading was dulled by holidays in Japan and the United States.
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