*Gold may retest resistance at $1,290- technicals. SINGAPORE, Aug 28- Gold rose for the third straight day on Thursday on softening dollar and increased tensions between Ukraine and Russia, but the precious metal was under pressure from rallies in equities and the prospect of a U.S. interest rate hike.» Read More
Stocks closed sharply higher as investors snapped up financial and homebuilder stocks on hopes that the Federal Reserve would keep cutting interest rates to prevent a recession.
Buried in the Commerce Department report on New Home Sales in December is the full year tally for 2007, and it ain’t pretty. Home builders sold 774,000 homes during the year, down 26.4 percent from 2006. Just imagine selling over a million homes one year and barely 75 percent of that the next!
Talk may be cheap, but the endless chatter about a looming recession may wind up being very costly to the US economy.
Wall Street is shopping for retail bargains. Even before consumers rang up the weakest Christmas in five years, retail shares were beaten down and plagued by worries of just how slow the American consumer will become in 2008.
After a record week for volatility what lies ahead? Find out from Oppenheimer Chief Market Technician Carter Worth.
There’s a lot of talk today about the new plan to temporarily raise the conforming loan limit from $417,000 to 125 percent of a local market’s median home price to a limit of $730,000. One of the biggest arguments is that by raising the limit, you are shifting away from the original mission of the GSE’s which was to bring affordable housing to low-to middle-income families.
The European Central Bank president thought banks had learned their lesson after Barclays and Iraq is bullish on oil production.
Bank of Japan Governor Toshihiko Fukui pledged on Friday to keep monetary conditions loose, reinforcing market expectations that rates will stay low, even as government data showed inflation at its highest in a decade.
Ok, now we've got that emergency rate cut from the Fed AND the full 75 bp the markets wanted...
While the Street is somewhat disappointed with the details of the stimulus package (most feel that $300 per person is not going to make a big difference), there is agreement that raising the conforming loan limit for mortgages that Fannie Mae and Freddie Mac can buy to $625,000 from $417,000 is an important development.
This morning, in response to a question from one of our anchors, I said that the bulk of foreclosed homes are not included in the existing home sales report from the National Association of Realtors because they don’t land on the MLS.
Weekly jobless claims for the second week appeared to defy the conclusion that conditions in the labor market are pointing to a recession.
President Bush on Friday called for about $145 billion worth of tax relief and other incentives to stimulate a sagging economy and fend off a possible recession.
The Bank of England has room to manoeuvre on interest rates but policy appropriate for the U.S. economy may not be suitable here, British finance minister Alistair Darling told parliament said on Thursday.
Euro zone growth could come in below 2 percent this year, European Central Bank Governing Council member Klaus Liebscher was quoted as saying on Thursday, but the region is better off than the United States.
How can you protect yourself from the bear and benefit from the bull? We asked one of the most influential women in the business, CNBC’s Suze Orman.
In the face of a wobbly market, financials for the second day have been moving higher on the Fed's big surprise rate cut and the hope for more. For several weeks now, we've heard pundits of all sorts debating whether the group is hitting bottom, as it airs its dirty laundry this earnings period. Clearly, the shorts fear that view is true because they have been covering positions in a big way.
Forget a half-point cut. Wall Street is now speculating that the Fed will lower rates another three-quarters of a point next week.
ECB President Trichet appears to shun an interest rate cut in favor of fighting inflation, contributing to another round of selling in global stock markets.
I want to address an issue I mentioned yesterday which generated a lot of reader mail. I wrote: “You can’t do a stated income loan anymore, and you can’t do 100 percent financing.” I was actually quoting a mortgage expert I had spoken with earlier who was trying to make the point that despite the Fed rate cut, lending standards today are far tighter than they were just six months ago.