*Circumspect on implications of China, Greece troubles. SYDNEY, July 7- Australia's central bank held interest rates at record lows on Tuesday as sliding commodity prices, a still-high currency and mounting economic uncertainty in China argue for continued stimulus, and even the chance of more cuts. He also declined to go into detail on the implications of...» Read More
Stocks have gone too far too fast and are due for a retreat in an economy that will grow slowly, Pimco's Bill Gross said on CNBC.
The drive for Dow 10,000 hit a bump in the road Monday as investors took a breather, sending stocks down more than half a percent at the open. Stocks remained lower after a report showed leading indicators rose for a fifth straight month.
The drive for Dow 10,000 may experience an interruption Monday, if U.S. stock index futures are any indication. Any selloff notwithstanding, the Dow is within 180 points of the 10,000 mark after its best weekly gain in nearly two months.
Despite predictions the Great Recession is running out of steam, the House is taking up emergency legislation this week to help the millions of Americans who see no immediate end to their economic miseries.
Someone get me the smelling salts, because I'm shocked, yes passing out over the latest headline from the FHA: "Officials Anticipate Annual Actuarial Study to Show Capital Reserve Ratio Dropping Below Congressionally-Mandated 2 Percent."
Now that the US economy appears to be on the mend, can higher taxes be far behind? It's only a matter of time, say many experts.
A few months ago we said the nation's home builders were cautiously optimistic about the housing recovery. Today I'm thinking they are a lot more cautious than optimistic. That's because of the tenuous state of government stimulus in housing. Several powerful programs are set to expire at the end of this year. Some will likely be extended, others, perhaps not.
The economic recovery may be sharper than many forecasters, including the International Monetary Fund, have predicted, precisely because the recession was so deep, Michael Mussa, senior fellow, Peterson Institute for International Economics, told CNBC.com.
One third of all home buyers in the past several months have taken advantage of the $8000 home buyer tax credit. Since the start of the credit, the builder sentiment survey has gone from a record low in January to a steady gain three months running. But this month, one of the three components of the survey, the "sales expectations" part that gauges potential over the next six months, slipped.
Western economies have woken up with a hangover from a drunken binge of excess consumption and leverage that was reckless and irresponsible, Stephen Roach, chairman of Morgan Stanley Asia, told CNBC.
When Congress passed an $8,000 tax credit for first-time home buyers last winter, it was intended as a dose of shock therapy during a crisis. Now the question is becoming whether the housing market can function without it, the New York Times reports.
"The V-shaped recovery just got a badly needed shot in the arm today as the consumer is back in the game in a big way," said economist Chris Rupkey.
So I told you all last Friday about the Wells Fargo Exec hanging out and partying down in a fancy foreclosure. Today I heard back from Wells and.... sounds like there is in fact some justice left in today's housing market.
Even if Lehman Brothers were saved last September, another financial institution would have failed and set off the same global economic crisis that has plagued international markets for the last year, the European Central Bank President told CNBC.
The bulging US government debt can turn into an investment opportunity, legendary investor Jim Rogers, chairman of Rogers Holdings, told CNBC Monday.
The worst of the economic crisis is not over and a currency crisis can happen this year or the next year, because the problem of too much debt in the system has not been solved, legendary investor Jim Rogers told CNBC Monday.
The Federal Reserve and the Treasury Department should have let 10 banks fail, not just Lehman Brothers, for the financial system to clean itself up, legendary investor Jim Rogers told CNBC Monday.
Abolish the Federal Reserve and let AIG go bankrupt for the world economy to emerge cleaner from the financial meltdown, legendary investor Jim Rogers told CNBC a year ago. A year after Lehman Brothers collapsed, here is what Jim Rogers tells CNBC:
The Federal Reserve must guard against excessive behavior in the financial industry to avoid another financial crisis, Stephen Roach, chairman of Morgan Stanley Asia, said Monday.
A year after the collapse of Lehman Brothers, one thing is clear: banks' ability to make quick money will take a hit, as shell-shocked regulators impose tighter rules on them.