European politicians accused credit rating agencies on Wednesday of anti-European bias after Moody's downgrade of Portugal's debt to junk cast new doubt on EU efforts to rescue distressed euro zone states without debt restructuring.
Transportation stocks were among the standouts in another flat session for U.S. equities on Wednesday, and the sector's rally could be cause for optimism ahead.
U.S. stocks were mostly flat on Wednesday as strength in transportation names helped offset a downgrade of Portugal's credit rating, which pressured banking shares.
Senior European officials are upset with Moody's rating downgrade of Portugal bonds to junk status.
Below are highlights of International Monetary Fund Managing Director Christine Lagarde's first news conference since being tapped to run the IMF.
Stocks bounced off session highs on Wednesday after investors shrugged off a downgrade of Portugal's credit rating and an interest-rate hike in China.
Christine Lagarde, the IMF's new chief, pledged on Wednesday to push ahead with reforms to give fast-growing emerging markets greater sway at the global lender.
Stocks fell slightly on Wednesday after a downgrade of Portugal's credit rating, China's interest rate rise and a soft report on the U.S. services sector sparked jitters about global growth prospects.
On July 1, Jiang was absent at an important event in Beijing commemorating the 90th anniversary of China's Communist Party.A few days later, an important figure was urgently hospitalized into 301 Military Hospital located in Beijing, China. The figure is reportedly the former Chinese leader Jiang Zemin, who was rumored to be in sickness since his last public appearance in Jiangsu on May 14th.
New International Monetary Fund Managing Director Christine Lagarde pledged on Wednesday to push ahead with reforms to give fast-growing emerging markets greater sway at the global lender.
Stocks were poised for a lower open on Wednesday after Moody's downgrade of Portugal's credit rating to junk and China's interest rate rise sparked jitters about global growth prospects.
The European Commission has criticized international credit ratings agencies in the wake of the decision by Moody’s Investors Service to downgrade Portugal’s debt to “junk” status.
Stock index futures fell on Wednesday after Moody's downgrade of Portugal's credit rating to junk and China's interest rate rise triggered unease about global growth prospects.
Nearly a third of European Union banks being tested for their resilience in bad markets may need some outside support, credit rating agency Moody's said on Wednesday.
The downgrading of freshly bailed-out Portugal's credit rating to junk shocked financial markets on Wednesday and cast new doubt on European efforts to rescue distressed euro zone states without debt restructuring.
NEW YORK Stock index futures pointed to a weak start for Wall Street on Wednesday, with futures for the S&P 500, Dow Jones futures and Nasdaq futures down 0.2 to 0.4 percent by 5:06 a.m. EDT.
Chinese banking shares fell for a second day on Wednesday, while the euro clawed back losses but was still seen at risk after Moody's slashed Portugal's credit rating to junk status, reigniting fears that it may need a second rescue package.
Moody's became the first ratings agency to cut Portugal's credit standing to junk, warning the country may need a second round of rescue funds before it can return to capital markets.
Asian stocks were off to a weak start while the euro remained fragile on Wednesday morning after Moody's slashed Portugal's credit rating to junk status and as investors take a breather after the past week's rally in risky assets.
Portugal's credit-rating outlook depends a great deal on whether euro zone officials will require private sector participation when extending new financing to debt-ridden countries in the region, Moody's said on Tuesday.
Moody's Investors Service on Tuesday cut Portugal's credit rating by four levels to Ba2, two notches into junk territory, saying there is great risk the country will need a second round of official financing before it can return to capital markets.
Moody's Investors Service on Tuesday slashed Portugal's credit rating into junk territory, saying there is great risk the country will need a second round of official financing before it can return to capital markets.
