WASHINGTON— Interest rates on short-term Treasury bills rose in Monday's auction with rates on six-month bills reaching their highest level since July. The Treasury Department auctioned $24 billion in three-month bills at a discount rate of 0.020 percent, up from 0.010 percent last week. For a $10,000 bill, the three-month price was $9,999.49, while a...» Read More
The European Central Bank left rates unchanged as expected on Thursday, with analysts saying the doves in the governing council had the upper hand. The Bank of England also left the rates on hold, with analysts expecting it to ease monetary policy early next year.
South Korea's central bank held its main interest rate steady at 5.0 percent for the third month in a row on Thursday, as widely expected, amid turbulent global markets and despite growing inflationary pressures.
Unemployment in Australia unexpectedly ticked up from 33-year lows in October but the number of full-time jobs increased by the biggest amount in 16 years, underlining the continued strength of the economy.
The dollar dropped to record lows versus the euro Wednesday after comments by a Chinese official stoked fears the central bank of the world's fourth largest economy would reduce its holdings of U.S. assets.
The risks posed by the credit market turmoil and inflation were about balanced, and there was some improvement in inflation, Federal Reserve Bank of Richmond President Jeffrey Lacker said on Wednesday.
The shrinking U.S. dollar, record oil prices and some major earnings reports will dominate Wednesday trading. Oil edged past $98 moving deeper into record territory in overnight trade. Traders are betting crude has the legs to run through $100 in the next couple of days.
European Central Bank policymakers have been relaxed about the euro's steep rise against the dollar -- in public at least -- but its move towards $1.50 is raising the prospect that it might intervene.
The European Central Bank should take into account a range of factors such as the strong euro and high oil prices when setting monetary policy, France's Secretary of State for Europe Jean-Pierre Jouyet said on Wednesday.
Australia's central bank raised interest rates to an 11-year high on Wednesday as it battled to contain inflation, a decision charged with unusual political implications just two weeks before a national election.
It's been less than a week since the Federal Reserve hinted it was done lowering interest rates. Yet Wall Street is already clamoring for yet another cut.
James Owens, the chief executive of Dow component Caterpillar, sees a soft landing in store for the U.S. economy.
The dollar fell to all-time lows against the euro and a basket of major currencies Tuesday as investors feared the fallout from the credit turmoil was far from over and the Fed will have to cut interest rates some more.
Fed Chairman Ben Bernanke may not have many soothing words for Wall Street when he testifies before Congress on Thursday.
Billionaire investor George Soros forecast on Monday that the U.S. economy is "on the verge of a very serious economic correction" after decades of overspending.
Financial stocks held the market underwater Monday and will continue to figure in Tuesday's trading as investors struggle to sort out what the credit mess means for Wall Street and the banking industry.
Former Federal Reserve Chairman Alan Greenspan said on Tuesday that falling U.S. home prices and high inventories of unsold properties presented a major risk to the U.S. economy and financial markets.
The dollar edged up Monday against the euro in European trading, helped by better-than-expected growth in the U.S. services sector.
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Stocks could be setting up for a bit of a bounce back but first investors need to decide just how radioactive the financial sector has become. Heading into the weekend, market rumors of lurking credit issues plagued bank and brokerage stocks.
The dollar sank to record lows against the euro and a major currency basket on Friday, as persistent worries about unreported losses at financial firms overshadowed a strong U.S. payrolls report.