U.S.-Japan talks aimed at a trade deal seen as vital to a broader regional pact are in stalemate, Japan's economy minister said.» Read More
Oil prices eased Thursday, as comments from the U.S. Federal Reserve chairman stirred concerns about the health of the top economy and dragged prices further away from the $100 milestone.
Falling real estate prices, massive bank write-downs and a quickening drumbeat of slashed credit ratings adds up to one thing: The credit crunch has only just begun.
The prepared speech given by Federal Reserve Chairman Ben Bernanke on the economic outlook before the Joint Economic Committee on November 8, 2007.
Fed Chairman Ben Bernanke said the U.S. economy faces risks in both growth and inflation, suggesting the Fed will holding off deciding on further rate cuts.
The European Central Bank left rates unchanged as expected on Thursday, with analysts saying the doves in the governing council had the upper hand. The Bank of England also left the rates on hold, with analysts expecting it to ease monetary policy early next year.
The number of laid-off workers filing claims for unemployment benefits dropped last week to the lowest level in a month even though wildfires added to the unemployment rolls in California.
South Korea's central bank held its main interest rate steady at 5.0 percent for the third month in a row on Thursday, as widely expected, amid turbulent global markets and despite growing inflationary pressures.
Unemployment in Australia unexpectedly ticked up from 33-year lows in October but the number of full-time jobs increased by the biggest amount in 16 years, underlining the continued strength of the economy.
Japanese machinery orders rose in the July-September period and are forecast to keep going this quarter, supporting the growth outlook for the economy, but financial market turmoil looks set to keep a lid on interest rates for the next few months.
Stocks closed sharply lower as a probe of the home loan industry by New York's attorney general drew in the country's biggest mortgage finance companies and Washington Mutual warned the housing downturn would extend well into next year.
Here's what the market faces tomorrow: 1) October retail same store sales. Weather got colder toward the end of the month; traders are primed for bad news as most of the big stocks are at 52-week lows. Any good news should move them up.
Oil prices slipped into negative territory on Wednesday, retreating from an all-time high above $98 per barrel as speculators took profits from the record rally.
U.S. worker productivity rose at the strongest pace in four years in the third quarter, pushing labor costs down, the government said Wednesday in a report offering comfort to the inflation-wary Federal Reserve.
The dollar dropped to record lows versus the euro Wednesday after comments by a Chinese official stoked fears the central bank of the world's fourth largest economy would reduce its holdings of U.S. assets.
GM's record loss of $39 billion is a stunner that has investors once again questioning whether the country's largest automaker is any closer to consistently turning a profit. For what it's worth, I think GM will get there, and I'll explain why in a bit.
The risks posed by the credit market turmoil and inflation were about balanced, and there was some improvement in inflation, Federal Reserve Bank of Richmond President Jeffrey Lacker said on Wednesday.
The shrinking U.S. dollar, record oil prices and some major earnings reports will dominate Wednesday trading. Oil edged past $98 moving deeper into record territory in overnight trade. Traders are betting crude has the legs to run through $100 in the next couple of days.
European Central Bank policymakers have been relaxed about the euro's steep rise against the dollar -- in public at least -- but its move towards $1.50 is raising the prospect that it might intervene.
The European Central Bank should take into account a range of factors such as the strong euro and high oil prices when setting monetary policy, France's Secretary of State for Europe Jean-Pierre Jouyet said on Wednesday.
Several factors weighing on futures prior to the open: 1) GM posting its biggest quarterly loss ever; $39 billion amounts to $68.85 a share loss, a mind-boggling number considering the stock is $36. Down 5% pre-open. Declining to provide guidance is the key here. However, this news came out last night and is not the primary reason the market is down.
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