U.S. stocks fell for the first time in three days as a weakened dollar and higher oil prices kindled fresh concern about inflation.
The dollar sank to its lowest levels against the euro since Europe adopted the currency, and came to parity with the Canadian currency on Thursday.
The dollar continued on its downward spiral on Tuesday, falling to an all-time low against the euro and briefly reaching parity with the Canadian dollar for the first time in almost 30 years.
Stocks were little changed on Thursday as a weak outlook from economic bellwether FedEx and sharply lower profit from investment bank Bear Stearns helped stall a rally that followed this week's aggressive interest rate cut.
The dollar broke above $1.40 per euro for the first time on Thursday, weakened by a hefty U.S. interest rate cut this week and expectations of further cuts in benchmark rates.
Benchmark stock indexes looked likely to open lower on Thursday, index futures showed, and analysts said earnings from two top banks and remarks by Fed Chairman Ben Bernanke would be in focus.
The dollar sank to a 15-year low against major currencies on Thursday while the euro rose above $1.40 for the first time as the impact of the U.S. Federal Reserve's interest rate cut continued to sweep across markets.
Shares in Northern Rock took a fresh hit on Thursday, tumbling over 20 percent on renewed concerns over its future, and as the government said its guarantees would not cover new accounts.
The dollar sank to fresh record lows beyond $1.40 per euro on Thursday, weighed down by a hefty U.S. interest rate cut earlier this week and expectations of more moves to come.
China Yangtze Power Co Ltd will issue the nation’s first corporate bond tomorrow, the China Securities News (CSN) reported today.
New Zealand's dollar rose to its highest level versus the dollar and yen in nearly a month following a drop in U.S. interest rates prompted a comeback for investments such as the carry trade.
The dollar was higher against most currencies during Wednesday U.S. trading, up from the lows seen yesterday.
Treasuries slid for the third day Wednesday amid expectations that inflation will continue to increase after the U.S. Federal Reserve’s move to lower interest rates.
U.S stocks rallied for a second day on Wednesday following the half a point drop in interest rates issued by the Federal Reserve yesterday.
Data surfacing on Wednesday indicates that consumer prices posted a rare decline in August, while the housing industry saw construction fall to the slowest pace in 12 years.
The dollar rose from a 15-year low against a basket of currencies on Wednesday as investors bet the Federal Reserve's interest rate cut on Tuesday will help boost a slowing U.S. economy.
U.S. Stocks rallied for a second day on Wednesday as investors bet the Federal Reserve's aggressive rate cut would help prevent an economic slowdown. Housing-related stocks such as home builders and mortgage finance companies were among the biggest percentage gainers in the S&P 500, a day after the Fed cut the benchmark interest rates by a half-percentage point.
Stocks rallied for a second day on Wednesday after an aggressive U.S. rate cut soothed concern the U.S. economy would slip into recession, stirring demand for riskier investments and killing demand for safe-haven bonds.
U.S. stocks rose on Wednesday, adding to the previous session's surge and lifting the Standard & Poor's 500 index by 1 percent, as investors bet the Federal Reserve's aggressive rate cut would help prevent an economic slowdown.
Shares in European banks rose strongly on Wednesday, driven by relief over a half-percentage point cut in U.S. interest rates, even though some analysts say the credit crunch which has battered stocks is far from over.
The dollar rose from a 15-year low against a basket of currencies on Wednesday as investors bet Federal Reserve's interest rate cut on Tuesday will help boost a slowing U.S. economy.
Global equities rallied on Wednesday after an aggressive U.S. rate cut allayed fears that a credit crunch which has plagued markets could drag the U.S. economy into recession, but the dollar suffered a blow. The dollar struck a 15-year low against a basket of currencies after the Fed rate cut eroded the yield appeal of the U.S. currency. The weakness of the dollar pushed gold prices to 16-month highs.
Stock futures pointed to a higher opening on Wall Street on Wednesday, as shares continue to rally following the Federal Reserve's aggressive interest rate cut that eased fears over the outlook for the economy.
Two-year treasury notes rose as and ten-year securities fell on Tuesday following the U.S. Federal Reserve's announcement that it would cut it's benchmark interest rates to prevent the U.S. economy from slowing too much even as some signs of inflation remain.
The ABC News/Washington Post Consumer Comfort Index rose to -15 in the latest week from -17 in the previous period on Tuesday, edging up consumer confidence, though still deep in the negative.
Stocks rallied the most in four years and gold jumped to a 27-year high as the Fed slashed interest rates and raised hopes amid a protracted housing slump and credit turmoil.
Gold reached a 27-year peak on Tuesday after the U.S. Federal reserve slashed its benchmark interest rate a larger-than-expected half a percentage point on credit worries in U.S. Financial markets.
International investors bought $19.2 billion in long-term U.S. securities in July, the lowest inflow in seven months, the Treasury Department said on today.
Prices paid to U.S producers fell sharply in August according to data released on Tuesday, painting a gloomy picture for U.S growth.
The dollar dropped to a record low versus the euro on Tuesday after the Federal Reserve cut its benchmark rate by half a percentage point, its first cut in four years.
