The economy is improving but has yet to recover fully, with high unemployment and a weak housing market leaving consumers unsettled, Federal Reserve Chairman Ben Bernanke said on Monday.
The economy is improving but has yet to recover fully, with high unemployment and a weak housing market leaving consumers unsettled, Federal Reserve Chairman Ben Bernanke said on Monday.
(Corrects in fourth paragraph to show U.S. manufacturing moderated to its slowest pace since December, not in a year)
Manufacturing growth slowed in July to its weakest rate this year, with measures of new orders and production also slowing.
Fears the U.S. recovery is faltering drove the dollar to a three-month low on Monday against a basket of currencies while strong European earnings pushed sterling to a six-month high against the greenback.
Fear that the U.S. recovery is faltering drove the dollar to a three-month low against a basket of currencies on Monday and the euro broke above $1.3125, a key technical level, to hit its highest since May.
Wall Street was poised to open about 1 percent higher on Monday, building on last month's solid gains as investors focused on encouraging corporate results, including strong bank earnings out of Europe.
Federal Reserve Chairman Ben Bernanke's personal finances recovered in 2009, disclosure forms released by the central bank on Friday showed.
Federal Reserve officials clashed on Thursday over whether the central bank should be more aggressive in supporting the stumbling economy and one said the Fed's current policy may be contributing to worryingly low levels of inflation.
The Federal Reserve should consider buying more Treasury securities, instead of promising an extended period of low rates to support recovery, should inflation drift lower, a top Fed official said.
An obscure corner of the stock market is giving strong warning signs even as the broader equity and corporate bond markets rally.
State tax revenue is improving, but only slightly, and may not be enough to end steep spending cuts or replace the loss of assistance from the federal stimulus plan that expires in December, according to a report on Tuesday.
Prices of crude oil futures slumped below $79 a barrel on Friday despite a stock market rally and the rise of Tropical Storm Bonnie in the Gulf of Mexico. The downward turn on Friday followed a sharp gain Thursday amid positive corporate earnings reports that some saw as a signal of economic recovery and the brewing tropical storm.
Wall Street enters next week on the cusp of a breakout in U.S. stocks, but it will need another spate of convincing earnings reports to feed the rally that sprouted at the end of this week.
Wall Street enters next week on the cusp of a breakout in U.S. stocks, but it will need another spate of convincing earnings reports to feed the rally that sprouted at the end of this week.
Sterling is poised to build on its broad rally as investors speculate that fiscal and economic conditions in Britain will improve faster than in the euro zone or the United States.
Technical factors are also working in the pound's favour, while lower implied volatility will help the UK currency higher.
Investors are finding themselves with a new kind of balancing act -- one in which they have to juggle with three major regions posing three significantly different circumstances.
Europe's bank stress testing, the focus of much of the past week's market focus, is but one ball in the air.
After looking vulnerable to more downside in Asia yesterday the Aussie dollar found intraday support at 0.8735 going on to reverse its trajectory and rally during the European time-zone to retest what had been strong resistance around 0.8750.
Caterpillar Inc , UPS and other U.S. multinationals reported strong quarterly results on Thursday, suggesting the global economy may be on a stronger footing than previously thought.
Earnings from economic bellwethers 3M, UPS and Caterpillar catapulted stocks on Thursday as investors shed some of their fears about the strength of the recovery.
Upbeat outlooks from economic bellwethers 3M, UPS and Caterpillar catapulted stocks on Thursday as investors shed some of their fears about the strength of the recovery.
Strong results from major U.S. multinationals such as Caterpillar Inc and UPS suggest the global economy may be on a stronger footing than previously thought.
