For the week ending Friday, February 6, 2009, stocks edged up on a surprising rise in December pending home sales, a smaller than expected contraction in January’s ISM Non-Manufacturing Index, and strong earning results from the pharmaceutical sector.
Investors will have to short government bonds at some point despite their current attraction, as the amount of debt issued is "staggering" and inflation risks are down the road, Jim Rogers, CEO of Jim Rogers Holdings, told CNBC Tuesday.
The rally on the Dow Jones Transportation Index will fail and a long-term downturn can be expected for the index, Roelof Van den Akker, chartist at ING Wholesale Banking said Tuesday.
Global stocks ended the week lower Friday on heightened economic fears. The dollar and government bonds gained as investors parked their money in safe havens.
The yen rose toward a 13-1/2 year high against the dollar and a seven-year peak versus the euro on Thursday. While the sterling fell again against the greenback, nearing $1.3618, its lowest since September 1985.
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Global stocks were down again Wednesday on continued signs of trouble in the financial sector. Experts tell CNBC that there is more bad news to come.
Barack Obama will become the 44th President of the United States on Tuesday. Ahead of Obama's inauguration, global stocks were mixed on investors' concerns about the economic difficulties confronting the incoming president. Experts on CNBC expect the dollar and U.S. stock market to fall on Obama's induction.
Global stocks were up Thursday after the U.S. said it would support Bank of America's purchase of Merrill Lynch with a $20 billion investment by the government and a promise to protect against losses on bad loans, removing a risk for investors. Experts highlight four perils that will dominate 2009.
The European Central Bank is widely expected to cut interest rates by 50 basis points Thursday, to a record low of 2 percent. But how low will the central bank go? Experts tell CNBC euro-zone rates could bottom at 0.5 percent.
A day ahead of the European Central Bank's rate decision, more dismal data showed the euro zone needs monetary easing. But experts tell CNBC that central banks' interest-rate cuts have little impact on the economy in the current financial turmoil.
The euro remained under pressure Tuesday despite the German government approving a second stimulus package worth $64 billion to help Europe's largest economy.
The euro fell against the dollar and the yen Monday ahead of the European Central Bank's interest-rate decision on Thursday. Experts tell CNBC that the single euro-zone currency will experience headwinds this year.
U.S. employers slashed payrolls by 524,000 in December, driving the unemployment rate to its highest level in almost 16 years, suggesting that the year-long recession was deepening.
The Bank of Japan said Thursday it will provide 1.22 trillion yen ($13 billion) in emergency loans to financial institutions as part of a new program to spur lending to the country's businesses.
Oil was steady Thursday after a surprising increase in inventories unleashed a brutal 12 percent selloff on Wednesday. Despite OPEC's massive supply cuts to help boost the price, experts tell CNBC the commodity’s price is likely to fall further.
Japan stepped up its warnings against the yen's rise to a 13-year high against the U.S. dollar, saying it would deal appropriately with the situation which may include forex intervention.
The euro rallied versus the US dollar on Tuesday following the Federal Reserve decision to set its target for overnight interest rates between zero to 0.25%.
Gold has reached a good base of $730 and it looks likely to break out of that negative trend, Robin Griffiths, technical analyst at Cazenove Capital, told CNBC.
Japanese Prime Minister Taro Aso on Friday announced a new stimulus package to shore up his country's economy, with measures to spur employment, encourage lending and inject capital into financial markets.