The euro steadied from recent falls and world stocks were becalmed on Monday with a Chinese warning about risks to global growth and a downgrade of Spain’s credit heightening investor caution in holiday-thinned trade.
Europe’s common currency inched up, recovering modest losses suffered after a cut to Spain’s sovereign debt rating late on Friday, but the [...]
Archive for the ‘Market Finance’ Category
Euro inches up while stocks remain flat after warning
May 31st, 2010 by Financial Writer
Tags: debt crisis, euro zone, european economy, Global Economy, investors, stock market, us economy, wall street
more...G20 to endorse EU crisis strategy
May 29th, 2010 by Financial Writer
Finance chiefs of the world’s leading economies, meeting next week, are likely to deliver a strong endorsement of Europe’s efforts to resolve its debt crisis but announce no fresh policies to help it do so.
After several months in which Washington, Beijing and other governments pressed Europe to act more decisively in tackling the crisis, global [...]
Tags: debt crisis, european economy, european union, Federal Reserve, financial, financial markets, g20, Global Economy, global recovery, IMF, us treasury
Personal Spending Report Tempers U.S. Indexes
May 28th, 2010 by Financial Writer
American indexes opened lower on Friday, the last day of the month and the last before a three-day weekend.
In the United States, a mixed report on consumer spending and personal income tempered the open.
The Commerce Department reported that consumer spending was unchanged in April while personal incomes rose 0.4 percent. Both numbers were less than [...]
Tags: businesses, consumers, Dow Jones Industrial, economic recovery, euro zone, european stocks, financial markets, Global Economy, investors, stock market, U.S. markets, us economic, wall street
Mortgage Lenders Seek Relief From Forced Bad Debt Repurchases
May 27th, 2010 by Financial Writer
Mortgage lenders are seeking relief from Fannie Mae and Freddie Mac as the government-supported companies force them to buy back more soured debt, said John Courson, president of the industry’s largest trade group.
While his members “certainly understand” their contracts require repurchases of defaulted loans when items such as faulty appraisals, inflated borrower incomes or missing [...]
Tags: bank of america, borrowers, business, economy, economy recovery, fannie Mae, financial, mortgage bankers association's, mortgage lenders, stock market, us economy
OECD Lifts Growth Outlook as Emerging Nations Rebound
May 26th, 2010 by Financial Writer
The Organization for Economic Cooperation and Development raised its growth forecasts for this year and next as emerging economies such as China outpace debt- burdened developed countries to drive the global expansion.
The economy of the OECD’s 30 members will grow 2.7 percent this year, more than the 1.9 percent predicted in November, the Paris-based group [...]
Tags: Debt, economy, financial, financial system, Global Economy, interest rates, monetary, stock market, us economy, us stocks
Europe’s Banks Hit by Rising Loan Costs
May 25th, 2010 by Financial Writer
European banks are being forced to pay more for short-term dollar borrowings than banks in the U.S. and Asia—suggesting that lenders world-wide are increasingly nervous about the risks ahead for European banks as financial pain cascades across the continent.
On Monday, the London interbank offered rate, or Libor—the rate at which banks lend money to each [...]
Tags: borrowers, economic recovery, euro zone, european economy, financial, financial crisis, Global Economy, investors, real estate, stock market, us economy
Oil rises above $70, pessimism lingers
May 24th, 2010 by Financial Writer
U.S. crude rose above $70 a barrel on Monday, recouping some of last week’s losses, but analysts said sentiment remained fragile and prices could again be hit by macroeconomic pessimism.
The euro fell broadly on Monday, pulling back from gains last week, after the Spanish central bank’s takeover of a savings bank added to jitters about [...]
Tags: consumers, debt crisis, economy, euro zone, financial, global market, stock market, us economy, wall street
Eurozone woes to make for erratic market
May 23rd, 2010 by Financial Writer
Volatility will be the name of the game on Wall Street next week as uncertainty over the euro-zone debt crisis remains and investors will need nerves of steel to make bets on risky assets like stocks.
The Standard & Poor’s 500 index’s drop this week of 10 percent from recent highs meant the benchmark index is [...]
Tags: debt crisis, Dow Jones Industrial, economy, financial, financial system, Global Economy, investors, stock market, us economy, wall street
Global stocks tumble and bunds firm on euro zone fears
May 21st, 2010 by Financial Writer
European stocks fell again on Friday despite German approval of a euro zone rescue package, as markets remained unconvinced the aid would resolve the debt crisis.
The euro, however, found support from short covering.
Wall Street was also set to open lower, after plunging nearly 4 percent in the previous session.
In the general flight to safety bund [...]
Tags: debt crisis, economy, economy recovery, euro zone, financial crisis, financial stocks, financial system, Global Economy, Global Financial, us economy, US Treasuries
PRECIOUS METALS: Platinum, Palladium Plummet On Risk Aversion
May 20th, 2010 by Financial Writer
Platinum and palladium Thursday hit their lowest levels since February as investors continued exiting positions in all precious metals to avoid risk on concerns European debt issues will hurt economic growth.
One analyst said platinum and palladium fell hardest since the share of investment demand in them became greater than other commodities, making them more vulnerable [...]
Tags: economic recovery, economy, european economy, european union, financial, financial markets, Global Economy, investors, recession, us economy, us stocks