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
A sprinkling of deal news, sinking oil prices and a firmer dollar are in the background as stocks edge higher Tuesday. The big news for markets though will come in the Federal Reserve's meeting minutes, set for release at 2 p.m. ET. The minutes of the September 18 meeting and the August 16 call will be released. Traders are watching for hints of what made the Fed take the aggressive step to slash the Fed funds rate by a half point, greater than the 1/4 point widely expected.
Mr. Euro -- or the late Wim Duisenberg -- would sympathize with Jean-Claude Trichet’s dilemma. Trichet is facing a hostile cabal of politicians from among the 13 euro-zone governments who want him to cut interest rates to take momentum out of the strengthening single currency.
The Fed and the start of earnings season are two big focuses for stocks Tuesday, after Monday's dullish session. The Fed releases minutes of its September 18 meeting and its August 16 call at 2p ET. This time last week, traders would have been digging into those minutes to find any confirmation of their view that rates will be cut again at the Fed's October 31 meeting.
The dollar gained in quiet trade Monday against most major currencies as investors reassessed risk and bet that Friday's sell-off on a U.S. payrolls report was overdone.
I'm in Dearborn, MI today, preparing for our all-out coverage of the Republican debate tomorrow. No, don't worry, I haven't jumped over to the dark side of reporting, that being politics. I'm here to give a bit of a snapshot of the Michigan real estate market.
Former Federal Reserve Chairman Alan Greenspan said Sunday that the rate of U.S. economic growth was slowing, but the odds of a recession are less than 50%.
The U.S. federal budget deficit fell to $161 billion in fiscal 2007 from $248 billion the prior year as growth in tax receipts, fueled by capital gains and other non-withheld income, outstripped spending growth, the Congressional Budget Office said on Friday.
The dollar weakened Friday, after dealers decided a relatively solid U.S. employment report was not enough to move the U.S. economy off a slowing path and keep the Federal Reserve from possibly cutting interest rates.
The Labor Department's jobs number tracks people in the work force, but it doesn't account for millions of workers classified as independent contractors. Now, a battle is brewing over whether contractors like Gupertino Magana are getting a fair deal.
Federal Reserve Vice Chairman Donald Kohn said Friday moderate growth should return to the U.S. economy after a period of weakness due to a prolonged housing slump and higher borrowing costs.
The prepared speech given by Federal Reserve Vice Chairman Donald Kohn on the economic outlook. The speech took place in Philadelphia on October 5, 2007.
The U.S. economy added a solid 110,000 new jobs in September and hiring in each of the two previous months was revised up significantly, the Labor Department said on Friday.
Inflation pressures in the euro zone rose to a seven-year high in August and remain in an upward trend, a report said on Friday.
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.