U.S. consumer confidence fell more than expected in June, hitting another 28-year low as surging prices and mounting job losses sapped sentiment, according to a survey.
Consumers will respond to soaring oil prices with mass conservation measures, investor Sam Zell said Friday on CNBC.
U.S. stock index futures pointed to a broadly flat open on Friday after Thursday's sharp fall and with more gloomy predictions rattling investors' nerves.
U.S. personal spending rose by a more-than-expected 0.8 percent in May as government stimulus checks bolstered household budgets, while a key gauge of inflation stayed tame.
The Federal Reserve should let the big investment banks go bust if they made unwise investment decisions, and investors should take refuge into gold, said Marc Faber, editor and publisher of "The Gloom, Boom & Doom Report."
The global economy will struggle more than people now think, as the credit crunch spreads beyond housing and financials, Gerald Hassell, Bank of New York Mellon president, told "Squawk Box Europe" Friday.
South Korea on Friday posted a current account deficit for the third month this year in May, clouding prospects for its already weak currency and its battle to contain inflation.
Japan's annual consumer inflation accelerated to a decade-high in May on surging energy costs, and household spending dipped as the job market stagnated, darkening the outlook for the world's second-largest economy.
It seems Ben Bernanke has painted himself into a corner. Raising rates to fight inflation could tip the economy into recession. Suggestions anyone?
On the day after an unusually important Fed policy meeting both gold and stocks severely rebuked the central bank’s decision to take no action in support of the weak dollar or to curb rapidly growing inflation.
The dollar fell broadly Thursday, nearing a three-week low against the euro, after the Federal Reserve held interest rates at 2 percent, dashing expectations of an imminent rate hike.
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Bank of Japan policy board member Seiji Nakamura said on Thursday the global economic outlook is highly uncertain due to world inflation worries and slowing economic growth, signaling there will be no policy change by the central bank in the near term.
The Dow ended with a modest gain after a pop from the Federal Reserve's rate decision fizzled.
Before getting into the nuances of the statement, it’s important to not lose sight of the overall action: for the first time since the Fed began cutting rates in September — by 3.25 percentage points in total — the Fed stood pat today. That is probably a clearer indication of what the Fed will do next than anything the Fed said.
The Federal Reserve delivered a policy statement that roughly matched the increase in its recent rhetoric toward inflation risks by both upgrading its assessment of current economic conditions and by adding new language indicating discomfort with the inflation situation.
I just finished a quick hit on "Street Signs" with Erin Burnett. The Fed kept the Fed Funds rate unchanged but I like the statement they issued. I read it as saying the upside risk to inflation is more on their minds than anything else.
The Federal Reserve will hold its key interest rate at 2 percent for the remainder of the year as the economy winds through the various challenges it faces, according to bond manager Bill Gross.
The biggest hope for the bulls is a notable crack in oil (a sustained drop below $120 or so). After that, the notably oversold conditions (which could last a long time), and the lopsided bearishness of the Street should enable some kind of short-term bounce.
The dollar fell to two-week lows versus the euro on Wednesday, as selling accelerated in the aftermath of the Federal Reserve's decision to hold key interest rates steady at 2.0 percent.