Futures were lower Tuesday after news personal spending in June declined for the first time since September 2009 and as a last-minute congressional deal to raise the U.S. debt ceiling failed to ease worries about a possible U.S. credit downgrade.
Stocks clawed back from session lows ahead of a crucial vote in Washington on the debt deal, but still ended lower Monday following a dismal manufacturing report in addition to renewed worries over some euro zone countries.
Futures surged Monday, after top U.S. lawmakers sealed a deal to raise the debt ceiling one day ahead of a deadline for a potential default.
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The reverberations of Washington’s impasse over a debt deal are already being felt in the short-term credit markets, a key artery of the economy that daily supplies trillions of dollars of credit the New York Times reports.
The U.S. Treasury Department reiterated Wednesday that unless the U.S. debt ceiling is raised, the U.S. runs out of borrowing authority Aug. 2, and that higher tax receipts will not give it more time.
Stocks closed sharply higher Thursday after EU leaders agreed on a final bailout package for Greece, in addition to an encouraging report on the Fed's mid-Atlantic manufacturing survey and some robust earnings reports.
Stocks gained across the board Thursday amid signs of progress on debt deals in Europe and U.S., in addition to an encouraging report on the Fed's mid-Atlantic manufacturing survey and some robust earnings reports.
Stocks rallied across the board Thursday after some positive economic news, a draft document showing plans for a wide-ranging response to the euro zone debt crisis, in addition to a handful of positive earnings news.
Financial stocks are down nearly 9 percent in 2011, far underperforming gains in the rest of the market.
Stocks ended near session lows Monday, posting their largest loss in about a month, as investors worried that Europe's debt crisis could spread to Italy and amid ongoing worries over the U.S. budget.
Stocks were on pace to post their largest loss in about a month Monday as investors worried that Europe's debt crisis could spread to Italy and amid ongoing worries over the U.S. budget.
The ongoing crisis in the euro zone is creating a trading opportunity among safe-haven currencies, this strategist says.
Stocks traded off session lows Monday after President Obama promised he will meet daily with Congressional leaders until the debt debate gets resolved. However, fears over a contagion threat in the euro zone kept markets under pressure.
Futures tumbled further Monday pressured by Friday’s weak nonfarm payrolls report, which reignited fears of a slowdown and as Italian debt fears spooked markets.
Stocks closed to the upside in another thin trading session Wednesday after investors largely shrugged off a handful of weak economic news and looked ahead to Friday's employment report in addition to earnings season, which kicks off next week.
Stocks were modestly higher in another thin trading session Wednesday after investors largely shrugged off a handful of weak economic news and looked ahead to Friday's employment report in addition to earnings season, which kicks off next week.
Stocks edged higher in another choppy, thin-volume session Wednesday after investors largely shrugged off news that ISM non-manufacturing index slipped last month and China's latest interest rate increase.
Also: Portugal raised $1.2 billion in a 3-month debt auction, a day after having their debt cut by 4 notches to debt by Moody's. The bad news is they paid a steep price: 4.96 percent. The Portugese stock market is down 2.6 percent this morning.