CNBC's Tyler Mathisen looks back at the week's top business and financial stories. A shortened trading week, this week, as Easter is on Sunday. The week ended positive after Janet Yellen reassured investors. Low rates could be around another two years, she said.» Read More
Alan Greenspan keeps making news, even after leaving the Federal Reserve chairman’s post. Last week, he released his memoirs, taking the Bush Administration to task; and he told CNBC the housing bubble was "unavoidable." Here is a sampling of our broadcast coverage, including an exclusive Greenspan interview with senior economics reporter Steve Liesman.
Ok well I guess the jury is in and the court finds in favor of Hovnanian Enterprises. The company issued a press release this afternoon saying they had gross sales of 2100 homes over the weekend: that's 1,700 contracts with 400 deposit.
Thousands of customers queued to withdraw savings from embattled British bank Northern Rock on Monday and its shares plunged again, heightening pressure for a sale of the business or its assets.
Former Federal Reserve Chairman Alan Greenspan also says the chances of a recession have risen from January, when he said there was about a 33% chance.
As the Dow and S&P 500 jumped 2% this week ahead of next week’s Fed meeting, is it possible the market already got the rate cut rally it has been jonesing for? Futures traders believe with certainly the Fed will cut the target rate at least 5%, but will it even matter for equities?
U.S. Treasury Secretary Henry Paulson said on Monday he expected market turbulence to continue for a while, but said the current turmoil was occurring against the backdrop of global financial strength.
U.S. Treasurys eased Friday after soft economic data supported expectations of a modest interest rate cut by the Fed next week but disappointed investors betting on an aggressive reduction.
Even if the Fed cuts interest rates on Tuesday, as most expect, stocks aren't likely to show much enthusiasm. The reason: credit market jitters probably won't subside soon, as Treasury Secretary Henry Paulson acknowledged to CNBC.
U.S. stock futures are pointing lower this morning as new credit worries in Europe drag down banking shares there and wipe out yesterday's euphoria in the financial sector.
Treasury Secretary Henry Paulson told CNBC Friday that it will take time to work through the problems contributing to current financial market turmoil but expressed confidence U.S. growth will not be derailed.
Sales at U.S. retailers rose a smaller-than-expected 0.3% in August and recorded the biggest decline in almost a year when car sales are excluded. Meanwhile, consumer sentiment was steady in early September.
Britain's financial authorities stepped in to rescue mortgage lender Northern Rock on Friday as the group, which has lent aggressively to home buyers, fell victim to the sharp rise in borrowing costs between banks.
This credit problem is taking me back to the last big story I worked on where a financial economy crisis had real economy consequences: the Asian market meltdown of 1997.
Several issues weighing on the markets today. Liquidity issues again coming to the fore, this time in the U.K. 1) Northern Rock, the 4th largest mortgage company in the UK, has sought emergency funding from the Bank of England because it won't be able to roll over obligations that are coming due over the next few weeks.
This week, NBC Nightly News will air a series of reports on issues important to women, including special business reports on Tuesday and Thursday.
Inflation in the 13 euro nations was 1.7% in August, the European Union's statistical agency said Friday, lowering its earlier estimate of 1.8%.
China raised interest rates Friday for the fifth time this year amid signs that repeated attempts to cool the sizzling economy so far have had little effect.
U.S. Treasury debt prices fell for a third day Thursday as signs of stability in the distressed credit markets caused investors to switch out of safe-haven government bonds.
Former Federal Reserve Chairman Alan Greenspan said he was late to see the storm gathering around U.S. mortgage lending practices and commended his successor Ben Bernanke's handling of the crisis, saying he would likely be responding in a similar fashion.
Americans are relatively unconcerned about the subprime mortgage troubles, and they say President Bush is doing a better job, according to the latest NBC News/Wall Street Journal poll.