LONDON, May 25- The dollar hit a one-month high against a basket of major currencies on Monday after stronger-than-expected underlying U.S. inflation bolstered the Federal Reserve's case for an interest rate hike later this year. Amid low volumes, with most of Europe as well as the United States shut for a holiday, the dollar index, which measures the greenback...» Read More
A key measure of Australian business conditions hit its lowest level in seven years in July as firms reported falling sales and profitability, adding to the case for an urgent cut in official interest rates.
China's consumer price inflation fell to a 10-month low of 6.3 percent in July from 7.1 percent in June as last year's surge in the cost of food continued to unwind, the government said on Tuesday.
Japanese annual wholesale price inflation jumped to 7.1 percent in July, a 27-year high and well above expectations, adding to fears that high energy and commodity costs are squeezing firms and pushing the economy into recession.
Stocks are likely to follow the dollar, commodities trade again Tuesday, with little economic news to drive direction early.
Oil inflicts heavy economic pain on the way up, but a slower and smaller benefit on the way down.
We all know credit is tight, but now we’re seeing it seize in some very uncomfortable places, namely, literally, your wallets. The July 2008 Senior Loan Officer Opinion Survey on Bank Lending Practice, out today, says "About 65 percent of domestic banks indicated that they had tightened their lending standards on credit card loans."
Economists have soured on the U.S. economy's prospects for the second half of 2008 and have cut growth forecasts for next year as well, a closely watched survey released Monday showed.
With the Fed likely to keep interest rates steady and the economy showing no signs of rebounding soon, investors are looking beyond stocks to find safer returns.
Just the potential for a U.S. recovery will bring "enormous" amounts of under-invested cash back into the stock market, the head of an investment group said.
China's producer prices jumped by 10.0% in the year to July, the first time factory-gate inflation has been in double digits since the mid-1990s.
Australia's central bank on Monday said the economy looked to be slowing enough to significantly reduce inflation over time, providing growing scope to ease interest rates from 12-year highs.
I guess I didn’t need the CEO of Fannie Mae to tell me that his company’s dismal second quarter results, “reflect challenging conditions in the housing and mortgage markets that began in 2006 and have deepened through 2007 and 2008.” No kidding.
U.S. productivity grew at a weaker-than-expected 2.2 percent during the second quarter despite a rise in output and lower unit labor costs than during the first quarter, a Labor Department report on Friday showed
Stocks ended near session lows as oil ended above $120 a barrel and two Dow components missed the Street's targets.
Stocks pared some losses Thursday afternoon as oil prices flattened out. Putting pressure on stocks today was a quartet of dismal news: a rise in jobless claims, oil's resurgence, Wal-Mart's sales miss and AIG's wider-than-expected loss.
Of course Fannie and Freddie are the elephants in the rooms of today's housing markets. If the two giants that own or guarantee so many of or loans falter any more, that will only put yet another roadblock in the road to recovery.
Stocks opened lower, clipped by a quartet of dismal news: a rise in jobless claims, oil's resurgence, Wal-Mart's sales miss and AIG's wider-than-expected loss. But a better-than-expected report on home sales helped shave a few points off the decline.
Stock futures fell further after a report showed jobless claims unexpectedly rose last week. Futures had already been pointing lower as oil rose nearly $3 a barrel, Wal-Mart missed sales estimates and Dow component AIG posted a wider-than-expected loss.
The number of newly laid off people signing up for jobless benefits last week climbed to its highest point in more than six years as companies cut back given the faltering economy.
The Bank of England held interest rates steady at 5 percent Thursday, as widely expected, as opposing concerns of rising inflation and slowing economic growth left policy makers without clear direction.