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Everybody seems to have an opinion on the Federal Reserve's plan to ease the global credit crunch. Here's what some CNBC guests were saying Thursday.
Skepticism about plans by major central banks to tackle tight credit conditions kept Asian stocks subdued Thursday, with all of the benchmark indexes marking a loss for the day.
Central banks banded together to make it easier for stressed banks to borrow money in a credit crunch that threatens to knock the U.S. economy into recession.
Major central banks, including the Federal Reserve and the European Central Bank, acted in unison Wednesday in unveiling plans to provide liquidity to the banking system, where funds covering a longer span of time have become scant.
The Federal Reserve's plan to ease the global credit crunch has been in the works for a while and will be more effective than cutting interest rates, a senior Fed official said.
As you may have read in Sharon's post, both she and I are "sharing" the joy of making predictions for 2008 as part of CNBC's Outlook For '08. Here are mine, with as much "futuristic foresight" as I can muster:
Melissa and I are taking part in the Outlook For '08 predictions, but we decided to split them up. So, out of the eight we are making, I took four and Melissa took four. That way, you'll get double the pleasure next year, of seeing whether the two of us are right!
Okay, here are my predictions for 2008 as part of our Outlook '08 coverage. We'll look back next year to see how I did--see number 7 below in order to figure out how good I am at this! 1) MY OVERALL PREDICTION: at a time of heightened public anxiety about America's future, the presidential election next November will shatter previous turnout records.
Energy futures rose sharply after the government reported unexpected declines in supplies of crude and heating oil last week and the Federal Reserve announced a plan to help banks weather the credit crisis.
The yen tumbled and high-yielding currencies posted sharp gains as carry trades regained popularity Wednesday after Federal Reserve and other major central banks announced coordinated measures to ease the money market's liquidity crunch.
Several top central banks including the Federal Reserve and the European Central Bank announced plans to address elevated pressures in short-term funding markets.
The U.S. Federal Reserve on Wednesday announced with other major central banks measures to alleviate upward pressure in interbank markets as financial sector troubles have made it more difficult for banks to raise funds. Following are some major steps the Fed has taken to provide funding to the banking system.
I spoke with Boone Pickens Tuesday as he launched Clean Energy's (CLNE) next venture at the Port of Long Beach in Southern California. The basic idea is to wean trucks and buses from diesel, and fuel them instead with liquid natural gas.
The text of the Federal Reserve's statement on adding additional liquidity into money markets released Dec. 12.
Asian markets closed mostly lower Tuesday, after the U.S. Federal Reserve's decision to cut interest rates failed to shore-up investor confidence. South Korean and Australian markets managed to finish slightly higher, however.
The Federal Reserve cut interest rates a modest quarter point, disappointing Wall Street, which had hoped for more-aggressive action.
China needs a more flexible currency to ward off rising inflation risks and the danger that its economy might boil over, U.S. Treasury Secretary Henry Paulson said on Wednesday.
Australian consumer sentiment improved in December as relief over the central bank's decision not to raise interest rates enhanced confidence in the economy, a survey showed on Wednesday.
Oil rose 2 percent Tuesday as a Midwest ice storm nearly paralyzed the most important crude oil hub in the United States ahead of a widely expected rate cut by the U.S. Federal Reserve.
The dollar rose slightly against the euro but fell against the yen on Tuesday after the Federal Reserve cut its benchmark interest rate by a quarter of a percentage point, less than what some had expected.
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