By Jason Simpkins Associate Editor Even with a bit of a rebound, of late, the dollar is down more than 7% against the euro in the past six months, 12% in the past 12 months and nearly 28% in the last 54 months. The decline has been so drastic countries that have pegged their currencies […]
Archives for May 2008
May 2008 - Page 13 of 14 - Money Morning - Only the News You Can Profit From
Markets React Favorably to Fed Cut
By Jennifer YousfiManaging Editor The U.S. markets surged yesterday (Thursday) the day after the U.S. Federal Reserve came though with the broadly expected 25-basis point rate cut that brought the fed funds rate down to 2.0%. The blue-chip Dow Jones Industrial Average Index gained 189.87 points (1.48%), to trade at 13,010.00. The tech-laden Nasdaq Composite […]
By Investing in Money-Management Firms, Chinese Insurers May be Signaling Bull Market's Return
By Investing in Money-Management Firms, Chinese Insurers May be Signaling Bull Market's Return From Staff Reports When leading China-based life insurer China Life Insurance Co. Ltd. (LFC) launched its first investment-linked insurance product this week, analysts took the announcement as a sign that the downturn in the Chinese stock market was all but over. The […]
Legg Mason's Bill Miller (Cautiously) Calls a Market Bottom
Our philosophy on market timing is simple: It doesn't work. Trying to predict the outcome of innumerous economic variables is almost always futile – even for Wall Street's most seasoned money managers. But there's one particular fund manager we're happy to take notes from. William "Bill" Miller, the chairman and chief investment officer of Legg […]
With Seven Rate Cuts Since Fall, Could the Fed Be Exporting Stagflation to Europe?
By Jennifer YousfiAnd William Patalon IIIMoney Morning Editors The U.S. Federal Reserve reduced the benchmark U.S. lending rate by a quarter point – from 2.25% to 2% – yesterday (Wednesday), and then hinted that it will take a break from one of its most-aggressive rate-cutting campaigns in decades. "The substantial easing of monetary policy to […]
The Run on Rice Wears Thin: A 20% Correction Could Be in Store
By Jason Simpkins Associate Editor The price of rice finally started to moderate this week, with rice futures sinking for a fifth straight day. Rice has retreated 11.6% on the Chicago Board of Trade since hitting an all-time high last Thursday. But this decline is likely just the start for rice prices, which have been […]
Global Investing Roundups
52-Week T-Bill is Back; Sweet-Smelling Deal for FTD; First Family of Oil Calls for Environmental Focus; Garmin Losing Track; PepsiCo. Stocking up on Water; Bovespa Hits Record on S&P Rating; Kraft Profit Tumbles 13%; Kellogg Profit Sheds 2% The U.S. Treasury Department announced yesterday (Wednesday) that it would bring back the one-year Treasury bill at […]
GDP Holds Steady at 0.6% in the First Quarter
By Jennifer Yousfi Managing Editor The U.S. economy averted recession in the first quarter, as real gross domestic product (GDP) for the U.S. economy grew 0.6% in the first quarter, the Bureau of Economic Analysis announced yesterday (Wednesday). "The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures […]
Corn Rises for Eighth Straight Month, Pitting Ethanol Use Against Global Hunger
By Mike Caggeso Associate Editor Against a backdrop of soaring worldwide food prices, riots over shortages and controversies about food crops being diverted for biofuels, U.S. corn prices jumped another 7% in April, the eighth-straight monthly advance. And the worst may be yet to come: Despite the rocketing price of corn and calls to step […]
Agri-Biotech Giant Monsanto Moves into its Newest Venture: Biofuels From Prairie Grasses
By William Patalon III Executive Editor Money Morning/The Money Map Report Agricultural-biotech giant Monsanto Co. (MON) is already a global leader in the development of genetically engineered crop seeds. Now the St. Louis-based firm is exploring the potential for biofuels, one of the hottest sectors in the alternative energy realm. Monsanto and the Hayward, Calif.-based […]