Fear and hope continue to trade places in European financial markets. Today's trading included both.
European stocks were down in early trading but by midmorning they were rising only to retreat once again nearing the close. Rising hopes that Spain will soon request a long-awaited bailout had buoyed European shares earlier today.
American Airlines is under investigation by the federal government for two separate incidents of passenger seats coming loose mid-flight passengers were not injured in either case.
The airline said Monday it would ground those two flights and six Boeing 757 jets to inspect for additional seat malfunctions.
Carmakers are having a blockbuster year.
Chrysler Group announced Tuesday it sold 142,041 U.S. cars and trucks in September a 12% jump from a year ago and the company's best September in five years. General Motors (GM) said its September sales rose 1.5% compared to the same month last year and the Detroit automaker had its best September in four years. Ford (F) disclosed that its sales were flat last month.
Nine days before Wal-mart (WMT) holds its annual investors conference, a group of Wal-mart workers is holding its own meeting with analysts in New York. The group "OUR Walmart" wants to publicize the negative impact that cost-cutting strategies and other policies are having on the world's largest retailer in an effort to help change those policies.
President Obama's mortgage fraud task force, set up at the beginning of the year to snuff out illegal practices that occurred during the height of the U.S. financial crisis, finally brought its first big case Monday.
JPMorgan Chase (JPM) has been slapped with a $2 billion lawsuit, one that alleges fraud in the residential mortgage-backed securities operations at Bear Stearns, which at the time was an independent firm, during 2005 into 2007.
On Friday, President Obama took the highly unusual step of blocking a Chinese company from building wind farms in Oregon.
The Chinese company, Ralls, is furious and has threatened to sue the president.
This is a big week for economic data, culminating with Friday's jobs report, and a huge week for U.S. politics, highlighted by Wednesday's Presidential debate.
These issues will dominate headlines but it's also a very big week for central bankers. Along with the European Central Bank, the central banks of England, Japan and Australia host scheduled meetings, while Ben Bernanke is giving a speech Monday and the minutes of the Fed's September meeting are due on Thursday.
If the economy is the key issue in this year's presidential race, why aren't President Obama and Mitt Romney talking more about the financial crisis? Not only did it unravel the economy, it caused the Great Recession, which still haunts us today.
Stocks are falling mid-morning Friday, the last trading day of the third quarter. But the major U.S. market indexes have rallied all year in the face of continued concerns about the health of the U.S. economy, the European debt crisis and slowing growth in China.
