The Fast Money traders share their final trades of the day.» Read More
Investors will be ducking earnings bombshells and hoping to make some gains this week in what promises to be the busiest couple of days of the fourth quarter earnings season. President Bush's State of the Union address Tuesday night and the Democratic response is the big political event of the week. Major economic reports include housing data and durable goods. But we know it will be the Oscar nominations Tuesday that everyone will be talking about.
"We think we're getting close to a top," said Bill Strazzullo, chief market strategist for Bell Curve Trading. "The problem is the market is counting on this booster shot of lower interest rates and some of that has been taken out."
Kansas City Federal Reserve Bank President Thomas Hoenig said on Friday that current interest rates should be able to brake inflation, in a sign that he will vote to keep policy on hold for the time being.
The dollar rose briefly against the major currencies after the Reuters/University of Michigan Surveys of Consumers preliminary reading for January beat forecasts, decreasing expectations for a cut in U.S. interest rates any time soon.
This morning’s University of Michigan Survey of Consumers showed consumer confidence is the highest it’s been in three years. No one denies that America is a nation of spenders, but not everyone knows that the personal savings rate in this country has been in the red for more than 20 months now – and the last time it was negative was during the Great Depression..
Alberto Vollmer owns a sugar plantation and rum factory in Venezuela. In fact--he owned thousands of acres that had been in his family for some 200 years. That was until 18 months ago when the government of Venezuelan President Hugo Chavez took 2,500 of those acres--1/3 of Vollmer's total land--as part of his proclaimed "socialist revolution."
U.S. consumer sentiment improved to a three-year high in early January, propelled by falling gasoline prices and a favorable view of personal finances and economic growth, a survey showed.
Richmond Federal Reserve Bank President Jeffrey Lacker said there have been some good numbers in the latest inflation reports, but it's unclear whether there is a firm downward trend or if it is a temporary dip from falling energy prices.
U.S. stocks closed near the worst levels of the day as weakness in technology stocks trumped positive economic data. Stronger than expected housing data and tame inflation data dampened hopes for a Fed rate cut any time soon.
The economy showed several signs of strength in December, while inflation grew only moderately.
The dollar stayed near a four-year high against the yen after reports showed U.S. housing starts unexpectedly strengthened and consumer prices jumped at the sharpest rate in eight months, bolstering views U.S. interest rates are not headed lower any time soon.
The pace of U.S. home construction in December came in better than expected this morning – although housing starts ended in 2006 at a 15-year low. The better news somewhat brightens a down housing market--which has been offering a mixed bag of investment opportunities. But is there someplace else to go? Yes--as investors are now looking for opportunities in overseas REITS...
The pace of U.S. home construction climbed 4.5% in December, a second-straight monthly increase that ran contrary to analyst expectations, but for all of 2006 the rate of new home building posted the biggest decline in 15 years, a government report showed.
U.S. stocks closed lower after oil prices staged a late rally, while weakness in technology dragged down the Nasdaq.
Federal Reserve Bank President Janet Yellen said U.S. interest rates "are within range of the desired setting" but that inflation from a "gangbusters" labor market remains a risk.
Homebuilders are continuing to gain confidence that sales will improve in the coming months, an index showed.
The dollar slipped against European currencies after a batch of solid U.S. economic data did little to shake expectations the Federal Reserve would keep interest rates steady for some time.
Federal Reserve Chairman Ben Bernanke will address a changed U.S. Congress tomorrow. Should President Bush’s man in the Fed alter his modus operandi in tune with a Democratic-controlled legislature? Mark Weisbrot, co-director of the Center for Economic and Policy Research, says the answer is yes.
Did you do better than 14.8% last year? I ask because that is what Bob Mckee at Independent Strategy claims for the clients that followed his advice in 2006. The brave part of the advice was to underweight equities.
U.S. mortgage applications fell last week, reflecting a drop in demand for home purchase loans as interest rates climbed, an industry trade group said.