SINGAPORE, March 6- Gold held below $1,200 an ounce on Friday and was headed for a fifth weekly decline in six, with he dollar near 11- year highs on expectations of strong U.S. jobs data and an interest rate hike. *Spot gold was little changed at $1,199.61 an ounce by 0028 GMT, after falling for four straight sessions to Thursday. *It was also helped by weakness in the euro,...» Read More
Australia's central bank on Monday said the economy looked to be slowing enough to significantly reduce inflation over time, providing growing scope to ease interest rates from 12-year highs.
I guess I didn’t need the CEO of Fannie Mae to tell me that his company’s dismal second quarter results, “reflect challenging conditions in the housing and mortgage markets that began in 2006 and have deepened through 2007 and 2008.” No kidding.
U.S. productivity grew at a weaker-than-expected 2.2 percent during the second quarter despite a rise in output and lower unit labor costs than during the first quarter, a Labor Department report on Friday showed
Stocks ended near session lows as oil ended above $120 a barrel and two Dow components missed the Street's targets.
Stocks pared some losses Thursday afternoon as oil prices flattened out. Putting pressure on stocks today was a quartet of dismal news: a rise in jobless claims, oil's resurgence, Wal-Mart's sales miss and AIG's wider-than-expected loss.
Of course Fannie and Freddie are the elephants in the rooms of today's housing markets. If the two giants that own or guarantee so many of or loans falter any more, that will only put yet another roadblock in the road to recovery.
Stocks opened lower, clipped by a quartet of dismal news: a rise in jobless claims, oil's resurgence, Wal-Mart's sales miss and AIG's wider-than-expected loss. But a better-than-expected report on home sales helped shave a few points off the decline.
Stock futures fell further after a report showed jobless claims unexpectedly rose last week. Futures had already been pointing lower as oil rose nearly $3 a barrel, Wal-Mart missed sales estimates and Dow component AIG posted a wider-than-expected loss.
The number of newly laid off people signing up for jobless benefits last week climbed to its highest point in more than six years as companies cut back given the faltering economy.
The Bank of England held interest rates steady at 5 percent Thursday, as widely expected, as opposing concerns of rising inflation and slowing economic growth left policy makers without clear direction.
Australian employment rose by more than expected in July, driven by a surprise surge in full-time positions which, while not barring an early easing in interest rates, tempered speculation about a series of aggressive cuts.
South Korea's central bank raised its main interest rate by 25 basis points to its highest in seven years on Thursday, as expected, in a move to stem inflation in Asia's fourth-largest economy.
I came away from the Freddie Mac conference call feeling a little, shall we say nicely, confused. The CEO, Richard Syron, warned of the troubled times in housing, even revised his forecast for home price drops, peak to trough, from 15 percent to 18-20 percent. He said we’re only halfway through the correction.
Bond experts discuss the Fed's rate decision and an analyst feels optimistic about Cisco's earnings numbers. Following are today's top videos:
What you think of today’s statement by the Federal Reserve depends a lot on what you thought before the announcement. Those who believed the Fed was on course to tighten in the fall see the statement as dovish; those who thought that was unlikely see the statement as either neutral or even hawkish. I’m in the camp who believes this statement was neutral as to the outlook for policy changes.
The Federal Reserve's decision to hold the line on interest rates was the only move the central bank could make considering the state of the US economy, PIMCO chief Bill Gross said on CNBC.
Below is the statement released by the Federal Open Market Committee after its Aug. 5 meeting on interest rate policy:
The Fed held U.S. interest rates steady, expressing concerns about both economic growth and inflation and indicating it is in no rush to push borrowing costs higher.
The losses stem mostly from inventory impairments and land write-offs. In English, that means the value of their properties are falling and they’re having to walk away from land that they can’t use because nobody is going to buy the house they would put on it.
Community banker Elizabeth Duke took the oath of office as a member of the Federal Reserve's Board of Governors and will vote at a meeting on interest rates later in the day, the Fed said.