From Staff Reports Central banks in Europe, Asia and the U.S. injected more cash into the global financial markets yesterday (Tuesday), in a continued campaign to allay investor fears, The Associated Press reported. The European Central Bank placed $370.6 billion in its normal weekly refinancing, adding to emergency maneuvers it’s undertaken over the past few […]
Archives for August 2007
August 2007 - Page 6 of 11 - Money Morning - Only the News You Can Profit From
Where are the subprime bodies buried?
By Martin HutchinsonDirector of Global Investing Research When the subprime mortgage crisis broke in February, I assumed (like most others) that its ill effects would be confined to obscure housing finance companies within the United States – a niche of the financial sector in which I had no interest in investing anyway. But the recent […]
Countrywide and SunTrust to Start Layoffs
Three more major U.S. mortgage lenders announced major job reductions yesterday.
Dow Rallies After Early Concerns Subside
By Jason Simpkins Staff Writer U.S. stocks posted moderate gains yesterday (Monday) – rebounding from early setbacks – as still-fretting investors get ready to navigate a stretch that will be largely bereft of corporate earnings reports or critical economic reports. The Dow Jones Industrial Average climbed 42.27 points, or 0.32%, yesterday to close at 13,125.35, […]
As China Soars, Prices Are Rising More Than Most Realize
For all the talk of China's high-speed economy, there's been little real discussion of the way prices for certain goods have skyrocketed.
In Japan, Bad News Could be Good News for Investors
By Martin Hutchinson Director of Global Investing Research When Shinzo Abe, Japan's prime minister, suffered an election defeat recently, some investors at first thought it was bad news. You see, it was Abe who had followed the pro-market policies of the previous prime minister, Junichiro Koizumi, and in doing so pulled Japan out of its […]
Fed Cuts Discount Rate; Stocks Rebound
By Jason Simpkins The U.S. Federal Reserve cut the discount rate to 5.75% Friday, and in a statement indicated that it is "prepared to act as needed to mitigate the adverse effects on the economy arising from the disruptions in financial markets." The Fed kept the benchmark Federal Funds rate at 5.25%. Discount window borrowing, […]
Mexico's 2.8% Q2 Growth Masks Possible Economic Problems
By Mike Caggeso While Mexico's economy grew at a 2.8% in the second quarter – snapping a four-quarter streak of economic deceleration – experts are only cautiously optimistic about the country's ongoing growth. There are several reasons for this. First, several sectors reported strong earnings. Agriculture production was up 3.8%. Services rose 3.7%, led by […]
Asian Markets: Pounded in Friday, Soar Today
From Staff Reports Asian shares were pounded Friday in the wake of continued turmoil in the global credit markets. But then they soared today (Monday) in a powerful rebound, fueled by the U.S. central bank's interest-rate action on Friday. In Japan, shares suffered their worst single-day decline in seven years – with heavy selling in […]
China Insists it Won't Dump its Dollars
From Staff Reports China's ambassador to the United States has taken steps to assure Congressional leaders that China has no plans to dump its U.S. dollar reserves as a way of retaliating against the United States for its attempts to strong-arm China into revaluing the Chinese Yuan currency, according to published reports. “I'd like to […]