Bernanke's Next Move, Trade Balance And Lots Of Fed Talk: Economic Events for June 4-8
The April trade data is likely to garner the most market attention, while the Fed Beige Book will set the tone for the upcoming Federal Open Market Committee (FOMC) meeting. On Thursday, markets will also be watching Fed Chairman Ben Bernanke's testimony to Congress, which could provide clues on whether the Fed is ready to take additional steps to support growth.
US Manufacturing Jobs Begin The Long March Back From China (And Elsewhere)
The U.S. had been losing industrial jobs to low-cost countries, particularly in Asia, for years, but its manufacturing sector appears to be staging a surprising turnaround. In 2009, manufacturing accounted for about 11 percent of U.S. gross domestic product; in 2011, the comparable figure was 12.2 percent.
US Job Growth Falters In May - Is QE3 By Fed Up Ahead?
A third straight month of disappointing job data clearly suggests that the U.S. labor market conditions are deteriorating again, which economists say will undoubtedly prompt more speculation that a third round of quantitative easing by the U.S. Federal Reserve is coming soon.
US Unemployment Rate Rises To 8.2% In May, Only 69,000 Jobs Added
Nonfarm payrolls rose by a paltry 69,000 in May, the weakest in a year, while the unemployment rate ticked back up to 8.2 percent as the labor participation rate edged up 0.2 percent to 63.8, the Labor Department said Friday. Economists polled by Thomson Reuters had called for a total gain of 150,000 jobs.
US 1Q GDP Revised Down To 1.9%
The U.S. economy expanded at a 1.9 percent annual rate in the first quarter, the Commerce Department reported Thursday. That's in line with economists' estimate and slower than the initially reported 2.2 percent pace.
China Stimulus: What You Need To Know
With dark clouds gathering over China's economy, Beijing is feeling greater pressure to introduce stimulus measures to support growth.
Euro Zone Economic Confidence Slumps To Near 3-Year Low
Economic stagnation and continuing debt crisis in the single currency bloc drove the region's business sentiment to 90.6 in May from April's revised 92.9, the European Commission said Wednesday. That was the second big fall in a row and left the index at its lowest level since the back end of the global recession in October 2009.
Will US Job Growth Disappoint In May For 3rd Straight Month?
One month of lackluster job growth can be blamed on the weather, but two or even three is dangerously close to a trend. Unfortunately, we might be in for another month of slower job growth in May.
Spanish-German Yield Spread Hits Record High As Crisis Escalates
The premium investors require to hold Spanish government bonds over German counterparts hit a euro-era high on indication that Spain would recapitalize nationalized lender Bankia, which asked for ?19 billion ($23.8 billion) Friday, by issuing new bonds.
Global Equities Advance, U.S. Data Eyed
European stocks recovered from early losses Tuesday as traders anticipate the U.S. data to show improving consumer confidence and a stabilizing housing market. Meanwhile, Asian equities rallied for a second straight day on hopes that China may introduce further stimulus policy. U.S. index futures rose.
Nonfarm Payrolls, Auto And Same-Store Sales: Economic Events, May 28-June 1
The economic calendar is quite full this week, with most of the focus on the U.S. nonfarm payrolls report. The Institute for Supply Management, or ISM, manufacturing index and the second estimate of U.S. first-quarter gross domestic product also will draw a lot of attention.
Why Are Emerging-Market Central Banks Stocking Up On Gold?
Central banks in emerging markets continued to gobble up gold last month, and analysts anticipate this trend has legs. Why are these central banks doing it? And why should you care?
French, Germany Consumer Confidence Holding Up -- A Dangerous Sign of Euro Zone Crisis Fatigue?
French and German consumer confidence showed unexpected strength, reports showed Friday. While the market is cheering about the good news, some economists view this as a warning sign of a euro zone crisis fatigue - something that is as dangerous, if not more so than the crisis itself.
Jobless Claims Data Offer No Solace For Recovery Concerns
The number of Americans lining up for new jobless benefits fell slightly last week to 370,000, but remained above levels posted earlier this year, the Labor Department said Thursday. While matching economists' forecasts, the figure suggests improvement in the labor market is stalling.
Oracle To Buy Cloud Social Marketing Platform Vitrue
Oracle Corp. (Nasdaq: ORCL), the No. 1 database company, said it would acquire private cloud media marketer Vitrue for an undisclosed sum a day after German rival SAP (NYSE: SA), Europe's No. 1 software company, offered to acquire e-commerce specialist Ariba Inc. (Nasdaq: ARBA) for $4.3 billion.
Macy?s Eyes Chinese Market, Partners With China?s VIPStore
Macy's Inc. (NYSE: M), the owner of its namesake and Bloomingdale's department stores, said Wednesday it will start selling some of the department store chain's private label merchandise directly to consumers in China next spring through a deal with a Chinese online retailer.
US Housing Sector Stabilizing? April New Home Sales Rise 3.3%
Sales of new single-family homes in the U.S. rose more than expected in April and prices climbed higher, signaling fresh signs of life in the distressed housing market.
Italian Consumer Confidence Hits 15-Year Low, UK Retail Sales Slump
European consumers are tightening the purse strings as their confidence in the region's economy continues to fade amid concern that the recession may worsen.
Fiscal Cliff - A 2013 Recession Triggered By Capitol's GOP, Dems?
The U.S. economy will likely dip into another recession in the first half of 2013 if planned tax increases and spending cuts are allowed to go into effect in January, the Congressional Budget Office said.
SAP To Expand Cloud Presence, Buying Ariba For $4.3 Billion
SAP AG (NYSE: SAP) has agreed Tuesday to buy Internet commerce company Ariba Inc. (Nasdaq: ARBA) for $4.3 billion, as the German business software giant looks to expand its cloud-based services and challenge rival Oracle Corporation (Nasdaq: ORCL).
Accor Sells Motel 6 To Blackstone For $1.9 Billion
French hotel giant Accor SA (Paris: AC) said Tuesday it will sell the underperforming Motel 6 U.S. budget hotel chain to asset manager Blackstone Group LP for $1.9 billion, as part of an effort to cut debt and shift focus from the U.S. to fast-growing emerging markets.
Barclays To Sell Entire Stake In BlackRock For $6.1 Billion
Barclays PLC, the UK's second-largest bank by asset, said Monday it plans to sell its entire $6.1 billion stake in U.S. asset manager BlackRock Inc., as the tougher global regulatory environment has made such holding less attractive.
Existing Home Sales, Durable Goods, China PMI: Economic Events For May 21 - 25
This week's economic calendar is relatively light in the U.S. with the releases of existing home sales, durable goods orders, and the University of Michigan consumer confidence survey. Attention will likely focus on data out of Europe. Euro zone PMIs, Germany IFO survey, and first-quarter gross domestic product data for the U.K. will be released.
Stocks Slump On European Risk, Tepid Facebook IPO: Daily Markets Wrap
World stock markets fell Friday, slammed by ratings cuts for Greece and five of its banks, which were announced ahead of a crucial Group of 8 summit this weekend. While Facebook's much-anticipated initial public offering provided a temporary distraction for traders, its first-day performance concluded with more of a whimper than a bang.
25 Earnings Reports To Watch Next Week, May 21-24
Before the curtain falls on this earnings season, investors will hear next week from several more major players, including Dell, Hewlett-Packard, Lowe's, Pandora, and Tiffany.
US Jobless Claims Flat At 370,000 - Higher Than Expected
More Americans than expected filed for jobless benefits last week, echoing comments in the minutes of the April Federal Open Market Committee meeting that suggested policymakers feel unsure about the true state of the labor market.
Forex: What Happens If Greece Leaves The Euro?
The growing possibilities of an imminent Greek exit from the single currency bloc could drive up the value of safe-haven currencies such as the U.S. dollar and the British pound, while hurting a number of emerging Asian currencies that are sensitive to investors' risk appetite.
US April Housing Starts Rebound, But Permits Fall
U.S. builders began work on more homes than expected in April, government figures showed on Wednesday. But the data suggested that builders might also be slowing their future construction plans.
Euro Zone Avoids 2nd Recession As German Q1 GDP Surprises
Stronger-than-expected growth in Germany helped the euro area avoid its second recession in three years at the start of 2012 but stagnation in France and contraction in southern Europe underlined the huge economic disparities across the single currency bloc.
April US Consumer Price Index Flat As Gas Prices Fall
Consumer prices in the U.S. were flat in April amid signs that a spike in gasoline costs was ebbing, according to government statistics released on Tuesday, supporting the Federal Reserve's view that the jump in fuel costs is only temporary.
