Michael Contopoulos, BofA Merrill Lynch, » Read More
Many Americans allowed themselves to fantasize about large-screen TVs, European vacations and other luxuries when they learned of the federal rebates they'd be getting this spring and early summer.
Stocks were set for a positive open, as Dell boosted tech futures and the market awaited numers that would help clear up the inflation picture.
Global food prices could rise further in the short term and keep rising over the longer term as supplies are unlikely to match increased demand, a European Central Bank note said.
U.S. personal spending rose by 0.2 percent in April as forecast and a key measure of inflation moderated, government data on Friday showed.
On the verge of the European Central Bank's 10th anniversary, the news on inflation doesn't look good. Against the bank's target of "below but close to" 2 percent, euro-zone prices rose 3.6 percent in May, compared with the year ago, back to a historic high, data showed on Friday.
Japanese annual inflation dipped to 0.9% in April, thanks to a short-lived cut in a gasoline tax, but economists warned this would bring just temporary relief and a new decade high loomed.
Year-over-year real GDP is 2.5 percent. Incidentally, brand new numbers on profits show a much-stronger-than-expected gain. Profits are the mother’s milk of stocks and the economy. So this is very positive.
Soaring inflation will continue to cause policy dilemmas for the Federal Reserve and other central banks as the global demand for commodities remains strong, Bill Gross, chief investment officer at PIMCO, told CNBC Thursday.
The U.S. dollar extended its gains and traded at session highs against the yen and the euro on Thursday, as U.S. stocks added to gains with oil prices pulling back from recent highs.
The culprit is fears of inflation, thanks to high gasoline prices. But even more troubling is the chance that the Fed will raise interest rates, which don’t correlate exactly to the 30-year fixed, but which will push up rates on some adjustable-rate mortgages and home equity lines of credit.
With gas prices at record highs across the country, some employers are implementing measures to help their employees ease the cost of driving to work.
Two Federal Reserve policy-makers warned on Wednesday that interest rate increases might be needed before too long to curb inflation, even as the United States struggles with a weak economy.
The dollar rose broadly after a report showed new orders for U.S. durable goods fell by less than expected in April, supporting the view the Federal Reserve may keep interest rates on hold or even raise them by the end of the year.
A rise in fees has led to growing dissatisfaction with retail banks, which may be sacrificing long term growth in favor of short-term gains, J.D. Power and Associates said in a study.
The US economy is likely to weaken even further next year, but inflation is mainly contained to oil and other commodities, Merrill Lynch economist David Rosenberg told CNBC.
European planemaker Airbus is starting to feel the pain of the high price of oil and is bracing for airline customers to delay and even cancel orders, its chief salesman said on Wednesday.
The dollar rose broadly Tuesday after oil prices fell and a report showed an unexpected rise in U.S. new home sales in April, boosting expectations the economic slowdown is not as bad as feared.
There are several signs that the financial crisis that has long plagued the market is winding down, according to one expert.
The chief executive of Europe's biggest lender on Tuesday called on central bankers to raise interest rates in order to combat inflation.
The government will ban people in foreign-registered vehicles from buying gasoline in border areas of Malaysia, where heavy subsidies have kept petroleum costs low despite soaring prices internationally.