The euro hit an eight-month low against the dollar on Wednesday as worries drove investors away from the single currency.» Read More
Highly-correlated global markets will likely continue to correct until October, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC on Monday. But there is a very good chance of a mid-summer rally within the correction, he added.
The weakening euro could continue to strong-arm markets in the week ahead, as investors worry about contagion from Europe's sovereign debt crisis and the potential for a bigger setback in the U.S. economic recovery.
A weak jobs report hobbled the US’ ability to counterbalance the Continent’s debt troubles. Now investors must keep an even closer watch on the EU.
After a disappointing jobs report sent stocks tumbling Friday, is 1105 the ceiling in this market?
Engaging in what I perceive as their only avenue to grow, Germany’s Finance Minister Schaueble and France’s PM Sarkozy made statements intimating that the weak Euro is not an issue for the country’s in the European Monetary Union.
If the economy keeps growing at 3 percent the balance of 2010, demand for new capacity—improved rental housing, better located new homes, and commercial construction for retail and factory improvements—should accelerate in 2011.
Austerity measures imposed by the euro zone will likely push the euro back towards $1.50 or even $1.60 but the European currency is unlikely to achieve the status of reserve currency, economist Warren Mosler, founder and principal of broker/dealer AVM, told CNBC.com Friday.
Even if there is a blow away jobs number Friday, many economists expect the report will show fewer private sector jobs were created in May than in April.
The US recovery will continue, despite financial turmoil in Europe, as long the governments on the continent follow through on their promised rescue package, Treasury Secretary Tim Geithner told CNBC Thursday.
Gold remains a primary safe haven, said Jerry Castellini, president of CastleArk Management, and Ethan Anderson, portfolio manager for Rehmann Financial. The two offered CNBC their investment outlooks on the precious metal.
With S&P stalling at 1105, Guy Adami fears what was once support becomes resistance.
The argument is widely heard in Europe and elsewhere: If only Greece and other struggling euro-zone countries could let their currency depreciate, as other collapsing economies have done when hit by debt crises – in Asia and Latin America, for example.
Caught between a populace resistant to more austerity measures and investors demanding budget cuts and more flexible labor markets, the Spanish government is finding it increasingly difficult to keep a grip on power.
Stocks opened higher on Wednesday after seeing a selloff in the prior session. Alec Young, equity strategist at Standard & Poor’s and David Kelly, chief market strategist at JPMorgan Funds discussed their market outlooks.
Canada raised its key overnight lending rate .25% to .50% Tuesday despite the world-wide caution over the trend in global economic affairs.
Investors are playing the markets carefully during these volatile conditions but stocks will resume their way up once the wave of international bad news subsides, Robert Doll, BlackRock vice chairman, told CNBC Wednesday.
The euro is set to plummet toward its lowest level since the single currency appeared on traders' screens back in 1999, Mark Sturdy, director at Seven Days Ahead, told CNBC Wednesday.
As the rest of the world speculates which bank/country/continent will require another bailout, Canada serves as a “shining” example on how to escape the debt spiral, Jim O’Neill, chief economist at Goldman Sachs, told CNBC on Tuesday.
Just how much the US economy will expand this year and next remains a question among economists—with the wild card being the impact of European turmoil on US growth.