By Jason Simpkins Consumer spending made a disappointing showing in June, with only a tepid increase from the month before. But consumer confidence shot up in July to its highest level in nearly six years, giving investors some hope that a resurgent consumer can help the U.S. economy to navigate its current morass of housing […]
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Is Crude Oil on a Flight to $80 a Barrel?
By Jason Simpkins It appears that rising oil prices will remain a solid bet for investors – at least for the near future. Crude at $80 a barrel may be a reality sooner than we think. Amid swirling concerns about oil supplies, crude oil futures closed at a record $78.21 a barrel on the New […]
U.S. Stocks Rebound, Aided by Upbeat Profit Reports
By Jason Simpkins Following a week in which U.S. stocks posted their worst showing since March 2003, shares yesterday posted some solid gains after a day of choppy trading. After being down as much as 46 points, the Dow Jones Industrial Average reversed course and rebounded to gain nearly 93 points, or 0.70%, to close […]
Mortgage Market Won't Bottom Until Next Summer
The already ailing U.S. mortgage market is going to get worse through the remainder of this year
Korean Economy Soars, Credit Rating Improves
The economy of South Korea grew at a 1.7% pace in the second quarter
Aussie Hedge Fund Stung by Subprime Collapse
Australian hedge fund Basis Capital has hired global giant Blackstone Group LP (NYSE: BX)Â to help it avoid a total fire sale after it was blistered by nearly $700 million in losses
Apple, Countrywide, and DuPont Among Leaders in Stock Drop-Off
Stocks slid Tuesday amid a bevy of disappointing earnings reports and ongoing fear stemming from the housing slump. Some of the companies taking the brunt of the force included Apple Inc. (NYSE: AAPL), chemical giant DuPont Co. (NYSE: DPT) and Countrywide Financial Corp. (NYSE: CFC), the largest mortgage lender in the country. Homebuilders in the S&P 500 also hit a predictable skid retreating to lows that haven't been seen since October 2003.
Online Spending Boom Creates Profit Opportunity in European Markets
Online marketing outlays in Europe will more than double by 2012, a new study says, an explosion in spending that should create investment opportunities in both the high-tech and marketing sectors.
Smaller Than Expected Budget Deficit Could Stave Off Rising Interest Rates
President George Bush last week predicted that robust tax collections would cause the U.S. budget deficit to shrink to $205 billion this year, the third straight year of annual decline.
China Revises 2006 Economic Growth Figures; Fastest Since 1994
China yesterday revised its 2006 gross domestic product growth to 11.1% from 10.7%, the fastest yearly growth the country has seen since 1994.