WASHINGTON— Average U.S. long-term mortgage rates arrested their five-week decline this week but the benchmark 30- year loan remained below 4 percent. Mortgage company Freddie Mac says the nationwide average for a 30- year mortgage rose to 3.98 percent from 3.92 percent last week. Applications for "re-fi's" reached their highest level since November 2013 in...» Read More
The dollar rose near two month-highs against the yen amid investors' expectations a possible rate hike by the Bank of Japan will fail to boost demand for the Japanese currency.
The dollar fell from six-week peaks against major European currencies on Monday as profit-taking set in following last week's rally on the back of robust U.S. employment data.
Despite another intraday high on the Dow on Jan. 3, the markets overall ended last week on the downside. Even declining oil prices aren’t helping stocks get back to record levels today. Michelle Caruso-Cabrera spoke with two analysts on “Morning Call” to find out what’s going on. Owen Fitzpatrick of Deutsche Bank Private Wealth Management and Quincy Krosby of The Hartford appeared on the show. Both agree that the market is overconcerned with the Federal Reserve right now.
The dollar rallied for a third day after a surprisingly strong report on jobs growth in December led investors to scale back expectations for a Federal Reserve interest rates cut in the next six months.
Pimco's Bill Gross is calling for four rate cuts this year with the benchmark 30-year bond going down to 4.25%. But will that really happen in light of today's stronger-than-expected payrolls report? On CNBC’s "Closing Bell," Maria Bartiromo asked the bond maven what he thought.
A stronger-than-expected employment report failed to dent expectations the next Fed policy move would be an interest rate cut this year, a Reuters poll of Wall Street economists showed on Friday.
Educated Guesses & Wild Stabs: It occurs to me that, as much as I’ve tried to fill this space with amusing anecdotes, I’ve let a dose of negativity creep in recently as I’ve detailed my dislikes of auto sales and presidential news conferences. So today, I’ll reverse that by telling you how much I love the monthly jobs report.
The Dow, Nasdaq and S&P 500 are down this morning after a better-than-expected jobs report. That’s right, healthy employment numbers have caused a dip in the market. Traders appear to be more concerned with the Fed these days, and the robust report could mean there's no rate cut in the near future. William O’Neil’s Stephen Porpora can’t understand why everyone is so surprised. He appeared on "Squawk on the Street."
The dollar built on Wednesday's gains versus most major currencies this morning, as investors bet that talk of nearer-term interest rate cuts in the U.S. had been overdone.
U.S. Federal Reserve officials agreed at their December meeting inflation was the predominant concern, but some felt the "subdued tone" of economic data meant risks to growth had increased, minutes released on Wednesday show.
The Federal Open Market Committee released the minutes from its Dec. 12 meeting this afternoon. The language sounds about the same as the last Fed check-in, that inflation is still a concern. But the report notes that several members of the FOMC are worried about economic growth. Erin Burnett hosted two top analysts on “Street Signs” to debate the issue – is inflation inevitable?
The dollar slipped against the euro and yen after minutes of the Federal Reserve's policy meeting on Dec. 12 indicated the central bank sees the downside risks to economic growth have increased.
The dollar declined across the board on Tuesday, while the euro rallied as investors began the new year hunting currencies with rising yields.
As we've noted before--the U.S. housing market had its up and down in 2006. But when it comes to REITs (real estate investment trusts)--they did incredibly well--up on average of 35% for 2006. As we've been asking the question in other economic areas today--we ask if that kind of return will continue for REITs in 2007? Most say yes. John Wenker is portfolio manager for First American Real Estate and Michael Grupe is Executive VP of Research at NAREIT.
Not everyone is predicting a rosy economic scenario for 2007. There are some who think we could have some hard times this year. One of those is Emanuel Balarie. He's senior market strategist at Wisdom Financial. On "Power Lunch," Balarie says the U.S. housing market is still a concern. In fact, he says that besides housing---recession and inflation are major concerns as well.
Showing up for the first trading day of the New Year is a little like arriving for the first day of school. Good grades from last year no longer count, and the books are no longer relevant. That feeling is especially strong when the old year rang in some very comfortable double digit gains for stocks, and the path to the next year's profits is not so clear. The first week of 2007 is awash in data, including the Friday jobs report, auto sales, retailers'.....
The euro hit record highs against the yen for a second day Friday, supported by expectations the European Central Bank will keep raising nterest rates, while the dollar weakened in holiday-thinned trading.
The dollar slipped Thursday but pared its losses after stronger-than-expected data suggested a far more resilient U.S. economy than a recent run of reports had indicated.
In an exclusive cnbc.com interview, Global Insight Chief Economist Nariman Behravesh tells CNBC’s Rebecca Jarvis why he thinks fears of a 2007 recession are “completely off the mark.”
Bob Milliken of BB&T Asset Management and Jim Paulsen of Wells Capital Management gave CNBC’s Bob Pisani their predictions for the new year.