Rising liquidity on both sides of the Atlantic boosted global bond prices Friday but equities took a breather after climbing in recent months, in one case to a four-year high, on light volume.
Higher oil prices are affecting U.S. growth but are currently not a reason to think the economy will stall, a top Federal Reserve official said on Thursday.
Federal Reserve Chairman Ben Bernanke and other top officials of the U.S. central bank on Thursday highlighted risks to the economic recovery despite recent signs of strength, but offered few hints that any additional monetary stimulus might be needed.
U.S. stocks advanced Thursday buoyed by a strong weekly jobless claims numbers and solid monthly sales from retailers. Meanwhile, European markets were lifted by a well-received Spanish auction and news that Greece is one step closer to winning a €130 billion ($173.15 billion) bailout.
The U.S. economy is strengthening, but its long-term sustainability is questionable, Federal Reserve Bank of Atlanta President Dennis Lockhart said Thursday .
Gold rose 1.5 percent on Thursday, rebounding above $1,700 an ounceas the previous session's 5 percent plunge induced investors to buy at lower prices on hopes the tumble was a healthy correction rather than the start of a bear market.
Below are highlights from the question and answer session of a Senate Banking Committee hearing with Federal Reserve Chairman Ben Bernanke testifying on monetary policy and the U.S. economy.
U.S. 30-year fixed rate mortgage rates fell to 3.90 percent in the week ending March 1, down from 3.95 percent in the prior week, according to Freddie Mac.
Claims for jobless benefits came in at 351,000 for the third consecutive week and the four-week moving average continued to decline. However, economists point out that the economy needs to show more strength for the drop in the still-high jobless rate to be sustainable.
New U.S. claims for unemployment benefits edged down last week, holding near four-year lows, according to a government report on Thursday that suggested the labor market was gaining momentum.
Futures on major U.S. stock indices point to a higher opening Thursday ahead of a wave of economic data including ISM manufacturing index and key weekly jobless claims.
Most Asian stocks declined Thursday as the lack of explicit hints about further quantitative easing from Fed Chairman Ben Bernanke disappointed investors.
The Nasdaq composite index crossed 3000 for the first time in more than a decade but finished in red following the testimony from Federal Reserve chairman Ben Bernanke which checked market expectations of more monetary easing.
Spot gold rose more than 1 percent Thursday, recovering from its biggest fall in more than three years in the previous session when U.S. Federal Reserve Chairman Ben Bernanke failed to signal further monetary easing.
Precious metals and the broader market headed in opposite directions Wednesday, with gold taking its biggest single-day dive in two-and-a-half months, as a February full of good economic news helped drive the price of precious metals down on the day and month as a whole.
Below are highlights from the question and answer session of a House Financial Services Committee hearing with Federal Reserve Chairman Ben Bernanke testifying on monetary policy and the U.S. economy.
Gold fell 3 percent on Wednesday for its biggest one-day drop in 2-1/2 months, as a dollar rally following U.S. Federal Reserve Chairman Ben Bernanke's comment on an encouraging job recovery prompted funds to heavily unwind bullish bets.
The Federal Reserve said the U.S. economy expanded modestly in January through mid-February as hiring picked up a bit across several districts.
Arguing that former U.S. presidents often make millions on the lecture circuit, three congressmen have introduced legislation they claim could save about $3 million in fiscal 2013.
U.S. Federal Reserve Chairman Ben Bernanke played killjoy Wednesday morning, delivering a somewhat pessimistic assessment of the nation's economic condition in a semi-annual address to the House of Representatives.
Mexico economic growth has been strong in the wake of the Great Recession, thanks in large part to its fiscal and monetary discipline, said Dallas Federal Reserve Bank chief Richard Fischer in a speech in New Mexico.
The Nasdaq Composite Index briefly crossed the 3,000 mark Wednesday for the first time in 12 years, boosted by the European Central Bank's action to increase liquidity in the euro zone financial system and a better-than-expected revision to the U.S. quarterly economic growth.
