Andy Cross, CIO at the Motley Fool, says equity investors should stay the course, despite volatility in global markets since the start of the year.» Read More
European Central Bank President Jean-Claude Trichet said Europe's financial system is sound despite the current market correction, but more needs to be done to improve future financial stability.
Fed Chairman Ben Bernanke said the U.S. and other countries must work together to correct the global imbalance of trade and investment, offering no clue about a rate cut at the Fed's Sept. 18 meeting.
Sales of U.S. existing homes will fall further and prices will drop more sharply in 2007 than earlier expected, a leading real estate trade association predicted Tuesday.
The U.S. trade deficit narrowed slightly in July as exports continued to grow this year at a stronger pace than imports, even though both categories set records, a Commerce Department report showed on Tuesday.
Small business optimism fell in August, with owners less likely to expand business operations despite little impact from problems in the credit sector, according to a survey released Tuesday.
Asian markets found their footing and reversed losses to close mostly higher Tuesday, but China suffered heavy losses. Energy stocks rose after a surge in oil prices. Japan and South Korea closed stronger after spending most of the morning in negative territory.
China's consumer price inflation jumped to 6.5% in August, the highest level since December 1996, as a shortage of pork contributed to a surge in food prices. The inflation rate, up from 5.6% in July, easily surpassed economists' forecasts of 5.9% and cemented expectations that the central bank will keep tightening monetary policy.
Australian business conditions remained buoyant at an all-time high in August, despite an interest rate hike by the central bank and increased volatility in financial markets, a private-sector survey showed on Tuesday.
Japan's core private-sector machinery orders jumped in July, but not enough to ease investors' concerns that the turmoil in global markets may yet unsettle the Japanese economy.
Stocks ended a seesaw trading session mixed as a recovery in financial stocks and a rally in tech the tech sector were offset by uncertainty of the future of the U.S. economy. "You can't be real negative on the market because the Fed could ease at any moment, given how seized up the commercial paper market is," said Tony Dwyer of FTN Midwest Securities.
U.S. consumers kept up a healthy pace of borrowing in July, boosting their outstanding credit total by $7.5 billion, the Federal Reserve reported Monday, but the increase was slightly smaller than market expectations.
Economists are clearly worried about the U.S. falling into a recession, but they also believe the Federal Reserve can help prevent one by cutting interest rates.
Dallas Federal Reserve Bank President Richard Fisher on Monday said the U.S. economy appears to be weathering troubles in housing and financial markets, but it was uncertain how things will play out.
The average U.S. hedge fund lost money in August, the first time this year that these loosely regulated portfolios were in the red, according to data released Monday.
Merger Monday sure isn’t what it used to be, with just a small deal from Humana on the boards today. However, look a little farther and you can still see deals, but the players are changing. That's the point in a very interesting note this morning from Joseph Quinlan at Bank of America. Quinlan's point: "The traditional rainmakers - corporate giants from the United States...
The prepared text from Janet Yellen's speech to the National Association for Business Economics’ Annual Meeting in San Francisco, California
Here are my thoughts this Monday morning: 1) The problem for the markets is simple. Stocks have held up fairly well because of the belief that this is a liquidity problem and the economic fundamentals (absent housing) have slowed but held up reasonably well. Friday’s data has made that argument less clear.
Blackstone Group has agreed to buy 20 percent of chemical maker China National BlueStar (Group) Corp for up to $600 million, the private equity groups said on Monday, marking its first major investment in the fast-growing market.
Asian markets pared morning losses, but still closed broadly lower in the afternoon session Monday, with exporters hit hard on concerns the U.S. economy may be heading into a recession. Japan and South Korea both closed over 2% lower.
The Chinese yuan rose sharply against the U.S. dollar on Monday after the Chinese central bank set a higher reference rate for the Chinese currency following Friday's poor U.S. jobs data.
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