ECONOMY & MARKETS

Jobless Claims Jumped More Than Forecast; Raising Concerns

Initial Jobless Claims
The number of Americans filing for first-time unemployment benefits rose last week to the highest level in six weeks after a downtick in the week ended Dec. 31. The figure nearly surpassed a key threshold for gauging the job market, raising concerns about the U.S. employment situation without the help of holiday hiring.

Yields on Spanish, Italian Bonds Decline

A Spanish flag flutters near the dome of the Bank of Spain in central Madrid
Spain and Italy spread cheer through euro zone markets on Thursday with successful debt auctions at sharply lower borrowing costs in 2012's first real test of appetite for debt from the euro zone's bruised periphery.
Trader reacts at his desk in front of the DAX board at the Frankfurt stock exchange

U.S. Stock Futures up after Spain's Debt Auction

Stock index futures rose on Thursday after well-received European sovereign debt auctions encouraged investors ahead of job market and retail sales data expected to show the economy is steadily recovering.
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Euro coins

U.S. Treasuries, Euro Set for a Fall: Wells Fargo Strategist

The price of U.S. Treasuries has nowhere to go but down. Smart investors should take advantage of a market that is underestimating the possibility of a sudden drop in the price of those securities. They should also seek to sell off euros, a Wells Fargo strategist said Wednesday.
Vienna, Austria

Investor Confidence in Austria Rapidly Deteriorating: Fitch

A day after re-affirming its top sovereign credit rating on Austrian government bonds, a research arm of respected French credit rating agency Fitch has issued a report noting the rapidly deteriorating level of confidence investors in the derivatives market are displaying towards that country's debt.
The U.S. Federal Reserve building is seen in Washington

Fed Says U.S. Economy Is Expanding Moderately

The Federal Reserve said on Wednesday the economy continued to expand modestly through the end of 2011 as holiday spending proved robust, but a weak job market was still preventing incomes from rising.
Men walk past the London Metal Exchange (LME) in London

LME Finds 2 Potential Bidders among 15 Suitors

At least two serious potential bidders have emerged so far for the London Metal Exchange (LME) from 15 suitors who expressed interest in the world's biggest metals marketplace, a source with knowledge of the matter said on Wednesday.
Investor Carl Icahn

Icahn Drops Bid to Takeover Commercial Metals

Billionaire investor Carl Icahn on Wednesday dropped his $1.73 billion hostile bid for Commercial Metals Co (CMC.N) after failing to pick up support among the metal company's other shareholders.
The Fitch Ratings building is seen in New York

Italy Faces Downgrade, France Likely Safe: Fitch

The head of global sovereign ratings for Fitch, one of the world's premier credit rating agencies, riled up the Italian government today by saying the country was the pivotal factor on which the European financial crisis hinges, and suggesting the country's credit rating could be further downgraded.
A woman picks up some mandarin oranges at a fruit shop

U.S. Orange Futures Soar to Record High

U.S. orange juice futures surged almost 11 percent to an all-time high on Tuesday, as reports that discovery of small doses of an unapproved fungicide in Brazil could crimp juice imports from that country added fuel to a rally sparked by a brief freeze last week in Florida.
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Housing starts jump in December

Canadian housing starts climbed more than expected in December, fueled by low mortgage rates and a boom in condo construction, even as analysts predicted the once-hot sector would cool further in 2012.
TSX hits highest level in two months

TSX hits highest level in two months

Canadian stocks touched their highest level in two months on Tuesday as mining and energy issues rose on healthy import data out of China, which boosted investor optimism for the global economy.
Bank of Canada seen on hold until 2013

Bank of Canada seen on hold until 2013

A deteriorating European with slower growth and the longer we go without economy and weak global growth will keep the Bank of Canada from raising rates for at least another year, though an interest rate cut looks highly unlikely, according to a Reuters survey.
China

China Trade Growth Slows in Dec; '11 Trade Surplus Falls to 6-Year Low

Chinese imports posted an unexpectedly sharp drop in December, flashing a warning sign that the world's second-largest economy is expanding at a slower rate. Meanwhile, full-year figures pointed to a narrowing trend in the Chinese trade gap, which suggest that the country is relying more on its domestic demand.

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