The euro languished at one-year lows, following an aimless session overnight with market activity severely hampered by a holiday in the United States.» Read More
The stock market wants to go higher though. It is sloughing off bad news. Be it a headline in the Wall Street Journal that says Spain is in trouble financially, Greece being downgraded by a rating agency or German sentiment taking a downturn, the market forges ahead. I guess bad news is just the formula for a rising market.
Some German millionaires and billionaires want to give up 10 percent of their income to help fix the budget mess in Europe. Would such a plan ever work in the United States?
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.
As European governments promised they will take steps to reduce gaping budget deficits, famous investor Jim Rogers told CNBC he bought the single European currency, as he said he would.
Another solid close for European bourses today, with many markets closing at or near session highs.
The euro is barely intact, and rescuing the banks only worsened the financial crisis, Roger Nightingale, strategist at Pointon York, told CNBC on Tuesday.
The risk of a double-dip recession is growing, especially in the euro zone, where restructuring Greece's debt is inevitable, famous economist Nouriel Roubini told CNBC Tuesday.
Investors are "clearly overreacting" to the scale of the euro zone crisis, Joaquin Almunia, EU Commissioner for Competition Policy and vice president of the European Commission.
The desk is keeping a close eye on the S&P with the major index flirting with 1108, its 200 day moving average. What should you make of it?
Interest rates in the United States, the euro zone and Britain are going to be left at a record low for a while, despite various noises made by central bankers, David Bloom, head of foreign exchange research at HSBC, told CNBC Monday.
Herman Van Rompuy, president of the European Union, has blamed the strength of the euro in recent years for blinding the eurozone to its underlying fiscal problems. The Financial Times reports.
Rising regulation and economic austerity could produce a toxic mix in 2011. That was the view of many of the bankers that I spoke to last week at the International Institute of Finance spring meeting in Vienna.
Stocks will navigate choppy waters in the week ahead, but could sail a bit more smoothly—barring any nasty, new surprises from Europe.
Greece will eventually default on its debt because the country is highly indebted and the euro zone's approach towards saving it is the wrong one, Carl Weinberg, chief economist at High Frequency Economics, told CNBC Friday.
Portugal raised about 1.5 billion euros yesterday and Spain 3.9 billion euros today in auctions that were surprisingly oversubscribed.
Don't get used to Thursday's advance. The traders are concerned we may give back most of it by the close.
The United States is a decade away from being Greece, if it fails to get on the path of fiscal responsibility, former US Comptroller of the Currency David Walker told CNBC Thursday.
The economic situation today is drastically worse than a couple years ago, and the euro is doomed as a concept, Nassim Taleb, professor and author of the bestselling book "The Black Swan," told CNBC on Thursday.
Everybody is so bearish about the euro that it looks like now is a good time to buy the single European currency, famous investor Jim Rogers told CNBC Thursday.
The market had plenty of reasons to rally but the bulls just couldn’t keep it together and by the close the Dow surrendered a triple digit gain.