The worsening credit crisis is creating even more worry about the labor market outlook and there was little consolation in the jobs report Friday. All signs are pointing to further deterioration in the months ahead. The big question is how bad it will get and how quickly.
The House's vote Friday on the $700 billion financial bail out package hangs over a market increasingly worried the credit crunch is stalling the economy.
Ireland's decision to guarantee all bank deposits will contribute to the demise of the single European currency, because it will erode the euro's credibility if it's allowed to go ahead, Hugh Hendry, chief investment officer and Partner at Eclectica Fund, told CNBC on Thursday.
As the credit crisis spreads around the globe, it is reverberating back to Main Street in ways never seen before. As such, stories similar to the Hendrick's Turf farm are being played out across America.
The Senate's approval of the $700 billion financial markets bail out package should give stocks a short-term shot of confidence.
Once more, it's the noise coming from Washington Wednesday that could drive markets. Hope that the bill would be resuscitated before the end of the week is sending stocks higher.
Tuesday promises more treachery for investors as they navigate markets held captive by politicians and the promise of a rapidly faltering economy.
It was bailout or bust for the markets , but now that Congress has reached agreement on the $700 billion package the focus will shift to the weak economy.
The state of the financial markets' bailout and the credit crunch are dual concerns for investors in the week ahead.
Wall Street's wild ride promises to continue as Congress wrangles over details of a financial markets bailout, and investors assess the government-brokered deal for Washington Mutual.
Now, with a deal on the financial bailout expected soon, let's get back to the real economy—and the recession already in progress.
The number of workers filing new claims for jobless benefits jumped 32,000 last week,while new orders for durable goods dropped by a sharper-than-expected 4.5 percent in August.
It's never pretty on Wall Street when the action in Washington rules the markets. That's certainly been the case this week, while Congress wrestles with the merit and shape of the $700 billion financial markets rescue package, proposed by Treasury Secretary Hank Paulson
The Treasury’s bailout plan for Wall Street will also benefit Main Street, Bill Gross, founder and chief investment officer of investment management firm Pimco, told CNBC Wednesday.
Warren Buffett is driving the latest ambulance to show up on Wall Street, and his first aid may in fact give a boost of confidence to the market and Washington's rescue process.
In the debate over homeowner aid in the Wall Street bailout, both sides appear to have forgotten that Congress approved a $300 billion mortgage rescue in July.
The scorching volatility ripping through financial markets is not likely to let up while details of the government's rescue plan are being worked out.
In a market as tough as this, it's best to play defense.
“The Wall Street mess will now have collateral damage to the real economy,” says Steve Hanke, a former White House economist. “We're coming into this thing in a terrible situation.”
The financial system bailout plan, which could end up by costing Washington around $1.8 trillion, may increase the risk of stagflation, Pimco's Mohamed El-Erian told CNBC.