TOKYO, Dec 18- The dollar took the upper hand on Thursday after the Federal Reserve signalled it was on track to raise interest rates next year, altering a pledge to keep them near zero for a "considerable time" in a show of confidence in the U.S. economy. The dollar index rose to 89.109, flat in Asia but having risen 1.0 percent on Wednesday and coming within a striking...» Read More
I'm out of the office today, but I'll be back -- and blogging -- on Wednesday. Happy Holidays!
Down to the final 24 hours, more or less, of shopping before Christmas... We'll get the first reports on how "super" this Super Saturday's sales were when ShopperTrak releases its initial numbers by 3pm ET today
European stocks were seen edging higher on Monday in a shortened session before the Christmas break, adding to Friday's lofty gains after stronger-than-expected U.S. consumer spending data eased worries over the outlook for the world's biggest economy.
Japan's cabinet approved an 83.06 trillion yen budget on Monday for the fiscal year from April, featuring an increase in social security spending as the population ages and a modest cut in new debt issuance.
After a slow and stumbling start, official Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster.
The folks at HUD felt that my blog of yesterday left out some key points, namely, their side of the story, so I am happy to post a reply directly from them.
As we spend the end of the year debating the merits of the various plans to save the subprime borrower, I need to add a dose of reality to the Realty Check: On December 6th, when President Bush announced the brand new Paulson Plan to freeze certain subprime mortgages at their “teaser” rates, a little factoid got lost in the shuffle, and the trouble with this factoid is that it’s not exactly a fact.
The economy is continuing to show further signs of weakness and rising inflation, according to the latest government reports.
Oracle's strong earnings could give some tech names a bounce Thursday though markets are again being haunted by credit worries, and another Wall Street firm is set to report earnings before the bell.
Japan's exports rose steadily in November from a year earlier but shipments to the United States fell for the third straight month, reinforcing worries that slower U.S. growth will have a broader impact on Japan's economy next year.
Two news items that have me scratching my new hair: An apparent drop in foreclosure filings in November and some truly dismal earnings from New Jersey-based home builder Hovnanian. First to the foreclosure report, which comes from RealtyTrac.
Cash-strapped banks took the Federal Reserve up on its offer of $20 billion in short-term loans to help them overcome credit problems, but the interest rate wasn't as low as some had hoped.
All nine members of the Bank of England's Monetary Policy Committee voted to cut interest rates by a quarter-point in December and even discussed whether slowing economic growth meant a bigger move might be needed.
Japan's economy will grow 2.0 percent in the fiscal year starting on April 1, the government said on Wednesday while sharply downgrading its initial forecasts for the current year to reflect tumbling investment in housing.
European equity markets are set to start higher on Wednesday, inspired by a rise on Wall Street where technology issues led a rise in the market, while Asian stocks recovered from a five-day losing streak.
Stocks staged a mini comeback Tuesday after a day that saw indexes seesaw on both sides of the unchanged line. The market once more fretted over the financial sector and could do the same on Wednesday.
I realize this was a momentous occasion, being allowed to sit in on a meeting of the Federal Reserve board of governors and watch as they considered a proposal critical to the future of the mortgage market. I guess I just expected more. The room is austere, the governors impressive, the staff remarkable, but the meeting was unremarkable.
Housing starts and earnings from Goldman Sachs and Best Buy are among the headlines the stock market will care about ahead of Tuesday's open.
European stocks were set to edge lower on Tuesday, adding to the previous session's losses as investors fear that rising prices combined with a slump in the U.S. housing market could drag the world's biggest economy into stagflation.
A U.S. Federal Reserve policymaker is questioning the way the Fed describes risks to the economy in its public statements, The Wall Street Journal Online reported on Monday.