Gloomy U.S. Consumers Cut Spending, Japan Cuts Rates – Reuters Dollar Rises, on Pace for Best Month in 17 Years – Reuters One in Five U.S. Homeowners with Mortgages Under Water – Reuters Fed Funds Rate Cut a Double-Edged Sword – TheStreet.com So How Bad Was October? One for the History Books – MarketWatch Oil [...]
It’s certainly tough to be a trader, as seen in these “sad guys on trading floors” pics. And as evidenced by this gem of a quote from Morgan Stanley’s David Darst on CNBC: “We tell the young people who are looking for a job on Wall Street now, it’s either Shanghai, Mumbai, Dubai, or goodbye.”
The S&P futures are struggling in early trade after a positive close on Thursday and what’s looking to be a positive week overall. Lind Plus Senior Market Strategist Jeff Friedman notes it’s last day of the fiscal year for many mutual funds and hedge funds, and that could add pressure amid redemptions. On the flip [...]
U.S. Economy Contracts as Consumers Retreat – Reuters Recession Shadows Next President’s Economic Aims – Reuters Oil Drops Over 2 Percent as U.S. Economy Shrinks – Reuters Treasury, FDIC said to Consider Guarantees to Stem Foreclosures – Bloomberg Money Rates Fall on Rate Cut, Emerging-Market Dollar Swap Lines – Bloomberg Yellen: New Policies Needed to [...]
Fed Cuts Rate to 1% to Avert Prolonged Recession – Bloomberg Corn, Soybeans Surge as Rate Cuts May Revive U.S. Crop Demand – Bloomberg China May Cut Rate to Prevent Economic “Hard Landing” – Bloomberg Crude Leads Broad Rally in Commodity Futures – MarketWatch Recovering from Bear Markets – MarketWatch Treasurys Up as More Fed [...]
Financial markets are in wait-and-see mode ahead of this afternoon’s conclusion of the Federal Open Market Committee meeting. A decision on interest rates is expected at 1:15 p.m. CT. Based upon the October 28 market close, CME Group’s 30-Day Federal Funds futures contract is currently pricing in a 100 percent probability that the FOMC will [...]
Softs Looking Soft: Coffee, Cocoa, Sugar By Ken Hughes The softs market has been hit by the financial market meltdown, as just about all commodities have declined on ideas global demand is set to slow significantly. I’ll take a look at the fundamental and technical picture for coffee, sugar and cocoa futures.
U.S. Stock Market Rallies Over 10 Percent – Bloomberg Yen Declines Most Versus Dollar Since 1974 – Bloomberg U.S. Consumer Confidence Drops to Record Low – Bloomberg Crude Oil Rises as Global Stocks Rebound, OPEC Considers Meeting – Bloomberg Plunging Markets Are Far From Irrational – Times of London Gold Futures Fall as Dollar Strengthens [...]
Letting Some Air Out of Inflated Yen by Phil Streible The Japanese yen is starting to back down after gaining sharply against both the U.S. dollar and euro currency in recent days. Unwinding of the carry trade has artificially inflated the yen, and policymakers seem ready to let some air out. The yen has exploded [...]
New Home Sales Perk up on Gains in the West – MarketWatch Gold Rises for Second Day as Slump Draws Buyers – MarketWatch More U.S. Banks Turn to Treasury; G7 Sounds Yen Alarm – Reuters Financial Meltdown Won’t Spoil Halloween Fun – Reuters Japan Tries to Rescue Battered Stock Market – FT Forecasters Race to [...]
