U.S. stocks followed global equities down Friday as fears mount that the American economy may not be able to offset the combined drag of the euro zone crisis and sharply decelerating growth in China and India.
Yesterday morning the Chicago PMI Data came in quite weak with a reading of 52.7 versus and expectation of 56.7.
Following a high-volatility period over that past few days that has seen the political situation in Greece worsen, highly disappointing economic data prints in the U.S. and China and -- most prominently -- a surprise banking crisis in Spain, U.S. Treasuries have been hitting historically low yields on a daily basis. Lawrence Dyer, a New York-based rates strategist for British giant bank HSBC says should soon fall to 1.32 percent or lower.
As the risk of a messy Greek exit from the euro and a general breakup of the euro zone spark global slowdown fears, panicked investors have fled the troubled euro to safe havens such as U.S. treasuries and, crucially, the dollar.
Futures on major U.S. indices point to a lower opening Friday ahead of the anticipated Bureau of Labor Statistics' Nonfarm Payrolls report, the Institute of Supply Management (ISM)'s Manufacturing Purchasing Managers Index (PMI) report, and ADP's Personal Income report.
China Thursday defended its interests in the Asia-Pacific, following US Secretary of Defense Leon Panetta's statement, ahead of his week-long visit to Singapore, Vietnam and India starting this weekend, that the US would increase its military presence in the region.
China's manufacturing activity grew at a slower pace in May compared to the previous month, increasing concerns over a slowdown in the economic growth of the country.
Asian markets fell Friday amid increasing concerns over the slowdown in economic growth in China as the country's manufacturing activity grew at a slower pace in May compared to the previous month.
Asian shares and the euro extended losses Friday as China's factory activity data delivered its weakest reading this year, highlighting concerns the worsening euro zone debt crisis will further undermine global economic growth.
Asian shares eased Friday, with China's factory activity data and a U.S. jobs report due later in the day making investors cautious as the escalating euro zone debt crisis threatened to further undermine growth worldwide.
After ditching Super Bowl ads, General Motors Co. (NYSE: GM) pivoted away from the NFL and instead entered into a five-year advertising partnership for its Chevrolet brand with the popular British soccer team Manchester United, a move meant to bolster the brand's global awareness, the company announced Thursday.
On a Friday afternoon in March, the New York Times Company (NYSE: NYT) disclosed to the Securities and Exchange Commission that it would pay Janet Robinson, its recently fired CEO and a 28-year veteran of the company, a severance package of around $23.7 million.
The legal activist gives his first public speaking engagement in America after leaving from China.
The militants in question belong to The East Turkestan Islamic Movement (ETIM), a militant group that is fighting to free the Muslim-dominated Xinjiang province from Chinese rule.
With a massive smart grid build-out, Beijing hopes to turn its grid into a competitive advantage.
The value of the monetary unit of China dropped against the world's reserve currency on Tuesday
It was strange not to see Steve Jobs fill one of the iconic red executive chairs at the D10 Conference in Rancho Palos Verdes, Calif., hosted by All Things Digital's Walt Mossberg and Kara Swisher, but current Apple CEO Tim Cook did his best to fill the massive vacancy left by Jobs with some heartwarming stories about Steve, his life at Apple, and some encouraging signs that the world's most valuable technology company is moving in the right direction.
After a long period of instability and conflict, we now have ahead of us an opportunity for genuine peace and security, Turkey's Deputy Prime Minister Bekir Bozdag said on Thursday.
The question is whether, in light of growing human rights problems from China and Russia to the Middle East and North Africa, the United States is doing enough to factor human rights into its foreign policy.
Microsoft?s Windows 8 Release Preview will launch today, May 31st according to tech news source Neowin. An accidental blog post published by Microsoft, which was almost immediately taken down, revealed the date.
With hopes of changing Moscow's stance on Damascus, U.S. Secretary of State Hillary Clinton said that Russia's relationship with Syria is bringing the country toward civil war.
Crouching Tiger, Hidden Dragon actress Zhang Ziyi, who is the center of a prostitution scandal involving high-profile Chinese men including Bo Xilai for millions of dollars, denied the allegations smeared in Chinese media, adding she will sue for the false claims.
