Volatility measures suggest investors feel complacent, but a wedge of looming swans may disrupt the calm this summer, Societe Generale said.» Read More
The euro climbed across the board Thursday, after European Central Bank President Jean Claude-Trichet flagged more interest rate increases in the euro zone, citing lingering inflation pressures.
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The European Central Bank left interest rates unchanged on Thursday amid continuing uncertainty regarding the outlook for the economy.
Inventories at U.S. wholesalers rose 0.6 percent in November, but they did not keep pace with sales, which saw the biggest monthly increase in more than two years on rising petroleum prices, the government reported Thursday.
The Bank of England left interest rates on hold at 5.5 percent Thursday, despite clear signs of weakness in the retail and housing sectors.
The Bank of England is likely to hold interest rates steady at 5.5 percent when it meets Thursday, analysts told CNBC.com, but it looks set to resume its monetary-easing strategy in February.
Asian markets were mostly lower in the afternoon session Thursday, on worries about global growth after Goldman Sachs forecast a U.S. recession this year. Both Japan and South Korea closed over 1 percent lower.
The European Central Bank seems to have little choice but to keep rates on hold this time as well, despite rising inflation. Money markets are still not back to normal and there are signs of a weakening economy.
The dollar climbed Wednesday following comments from a Federal Reserve official who said it would be a mistake to say a U.S. recession is at hand.
Oil climbed within reach of $98 a barrel on Wednesday as a larger-than-expected draw in U.S. crude stocks offset worries over a U.S. recession this year.
Goldman Sachs today joins a growing roster of Wall Street firms, who say the U.S. economy will fall into recession this year. Watch for more reductions in stock price and earnings forecasts to follow.
This is a timeline of the European Central Bank's rate decisions for 2007.
The stock market may be the deciding factor in whether the U.S. economy tips into a consumer-driven recession this year.
U.K. markets down 1.5 percent on disappointing results from retailer Marks & Spencer (down 20 percent in the U.K.) and vague concerns that the U.S. slowdown may be spreading to Europe. Yesterday a confluence of events, including comments from AT&T about slowing consumer business, and poor commentary from Circuit City and Brinker, added to the poor sentiment.
Fed officials from opposite ends of the ideological spectrum had a similar message Tuesday -- that further rate cuts could lie ahead.
Asian markets rebounded in the afternoon session Wednesday after initially falling to three-week lows on the back of Wall Street's dismal performance Tuesday. Both Japan and South Korea clawed back into positive territory to finish the session stronger.
China's cabinet said on Wednesday that it would temporarily intervene in the market to curb price rises or basic necessities like food, underlining its concern over mounting inflationary pressures.
Oil halted a three-day slide to rise above $97 a barrel on Tuesday, lifted by a threat of violence in Nigeria's oil region and expectations of a further drop in crude stocks in top consumer the United States.
The Federal Reserve will cut lending rates aggressively in the first half of 2008 as the United States faces a possible recession, PIMCO fund manager Bill Gross said in an investment outlook posted on Tuesday.
The yen retreated across the board Tuesday as investors waded back into risky carry trades, sparked by gains in global equities and a rise in commodity prices.
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