Stocks opened lower Monday as investors returning from the long holiday weekend sorted through the fallout of the Dubai news and the weekend retail sales numbers. But financial stocks advanced.
Russia's public image has been seriously tarnished over recent months, with accusations of corruption, human-rights abuses and fraud becoming commonplace.
The Dubai government disclaimed responsibility for the debts of its Dubai World conglomerate, crushing earlier assumptions by creditors that the emirate would guarantee its liabilities.
Making one's true love happy will cost a whopping $87,403 this year, a minuscule increase from last year, according to the latest cost analysis of the items in the carol "The Twelve Days of Christmas."
The coming week should signal whether a year of voracious risk appetite on financial markets is going to end with a bang, a whimper or, quite possibly, a thundering great clunk.
Global stocks were mixed Monday, with Asian shares recovering after last week's selloff, while European shares dipped as concerns about the Dubai crisis weighed. Experts told CNBC the small correction caused by the Dubai crisis is a buying opportunity.
Dubai debt default concerns continued to affect European share markets on Monday with the FTSEurofirst 300 index falling 1.1 percent due to weaker banks and oil stocks.
Dubai media and several business leaders rallied to support the Gulf Arab emirate's efforts to manage its debt crisis, saying problems have been exaggerated and the impact of restructuring overblown.
Dubai World has refused to offload assets at fire-sale prices to repay obligations, forcing it to seek the debt standstill that shocked markets, according to a newspaper report.
Abu Dhabi, capital of the UAE and one of the world's top oil exporters, will "pick and choose" how to assist Dubai, a senior Abu Dhabi official said Saturday.
Dubai debt default concerns rippled through world markets Friday but the exodus from equities and rush to the dollar slowed as investors discounted any broad crisis.
For all the talk about a lack of transparency on the part of Dubai World, for all the talk about how they dumped it on the market over a long holiday, for all the talk about retail sales fractionally up on Black Friday being a disappointment (why?), the markets are...flat this morning... Read More
As global markets digest Dubai's debt announcement, investors are wondering: Is it time to dump equities? Don Bertrand, vice president of WealthTrust-Arizona, and Kelly Campbell, founder and principal of Campbell Wealth Management, offered their takes on the shifting market environment.... Read More