CHICAGO, May 17- The Federal Reserve has not done enough to lower U.S. borrowing costs to boost economic growth, a top Fed official said on Friday, citing his outlook for overly low inflation and overly high unemployment over the next two to three years.» Read More
It's all about the jobs report Friday. Nothing else will matter. The talk in markets all week has been mostly about that number, and the stock market's punkish, sideways behavior Thursday reflects that uncertainty. The Dow rose just 6 points to 13,974. Nasdaq rose 5 to 2733 and S&P 500 was up 3 to 1542.
The euro headed higher against the U.S. dollar Thursday, after orders to U.S. factories fell by their biggest amount in seven months and the European Central Bank agreed to keep interest rates steady at 4 percent.
European stock markets closed mixed after the European Central Bank and the Bank of England held interest rates steady.
Friday's U.S. employment report is expected to show sizable job growth for September, emboldening investors. But that won't end the debate about a possible recession.
During my two days reporting from the Miami area this week, I covered the gamut of stores. A Wal-Mart, a Target, a Whole Foods, a Starbucks and a slew of boutiques in the posh Lincoln Road shopping district. The one thing in common between all of the customers that we spoke with is that all were acutely aware of the housing problems in the area.
With the Dow Jones Industrial Average hovering around 14,000, the question is where the blue-chip heads next: 13,000 or 15,000?
Bank of Japan Deputy Governor Kazumasa Iwata struck a cautious tone on Japan's economic outlook, saying on Thursday that the central bank needs to adjust interest rates by closely examining risks, among them soft stock prices and a higher yen.
I'm on day two of my shoot for "Business Nation," focussing on just what caused the Miami condo market to rise and fall so fast. Today, I met Mark Zilbert, founder of condoflip.com, which he has of course renamed condosupercenter.com.
The dollar rose to a 1-month high against the yen on Wednesday, after a report on the U.S. services sector in September reflected growth in employment, boding well for Friday's non-farm payrolls data.
The U.S. private sector increased hiring at a moderate pace for a third straigth month in September, according to the ADP employment report released Wednesday.
Australia's central bank held interest rates steady as expected on Wednesday, likely waiting for global credit turmoil to calm and for a critical update on domestic inflation before deciding whether to hike again.
Pending sales of previously owned homes fell by a larger-than-expected 6.5% in August as more borrowers seeking home loans were turned away by cautious lenders, a real estate trade group said on Tuesday.
The dollar rose Tuesday from record lows hit during the prior session as investors trimmed overstretched bets against the U.S. currency ahead of key economic data later this week.
Swiss consumer price inflation picked up in September, driven by higher oil prices, but the price rise was smaller than expected.
October's normally the month to fear on Wall Street, but it'll be hard to top the scary volatility of the summer. A hefty economic calendar, the start of corporate earnings season, news from the mired housing market, and the continuing unwinding of the credit crunch will keep market volatility high this coming month.
The dollar rose slightly from record lows against the euro Monday as investors cashed out bets against the U.S. currency ahead of a fresh batch of economic data and central bank meetings this week.
So I just received a press announcement from Washington Mutual, “unveiling a new, industry-leading standard for mortgage brokers” with whom they do business. Ok, great I say! Good for you guys, implementing new groundbreaking standards to clean up the mortgage business once and for all. I read on.
The fate of the world economy hinges on what happens to house prices in America and that may not be a good thing, former Federal Reserve chairman Alan Greenspan said on Monday.
Britain will raise depositors' protection on their savings to 35,000 pounds, finance minister Alistair Darling will say on Monday after the country suffered its first bank run in more than a century last month.
If you want to know what former Fed Chairman Alan Greenspan thinks are the current chances of a recession, try this: When I sat down with him to do a “fireside chat” in Washington D.C., he said that he thought the odds of a recession were higher but still below 50 percent.”