Tag: market news

Oil price rises above $97 as Fed fears ease

Posted on by admin

The price of oil rose above $97 a barrel Thursday, as the latest U.S. economic data raised hopes for an increase in gasoline demand but suggested the Federal Reserve can wait to pull back on its current stimulus measures.

Meanwhile, the price of natural gas fell to nearly a 4-month low, and the cost of filling up the family car dropped again as the July Fourth holiday approaches.

The number of Americans seeking unemployment benefits fell by 9,000 to a seasonally adjusted 346,000 last week, evidence that the job market is still improving modestly. Steady job gains could help the economy expand later this year, and would mean more people driving to work. Continue reading "Oil price rises above $97 as Fed fears ease" →

U.S. economy grows at slower 1.8 pct. rate in Q1

Posted on by The INO.com Team

The U.S. economy grew at an annual rate of 1.8 percent in the first three months of the year, significantly slower than first thought. The steep revision occurred mostly because consumers spent less than previously estimated, a sign that higher taxes could be dampening growth.

The Commerce Department revised its estimate of economic growth for the January-March quarter down from a 2.4 percent annual rate. The revised rate was still faster than the 0.4 percent rate in the October-December quarter.

Economists had thought growth in the April-June quarter would be 2 percent or less. Analysts had also expected growth to strengthen in the second half of this year. The downgrade for the January-March quarter will likely change those estimates. Continue reading "U.S. economy grows at slower 1.8 pct. rate in Q1" →

Stocks extend slide as China adds to worries

Posted on by The INO.com Team

There was no let-up in the flight from stocks and bonds Thursday as the Dow Jones industrial average plunged 353 points and wiped out almost two months of gains.

A day after the Federal Reserve roiled U.S financial markets when it said it could step back from its aggressive economic stimulus program later this year, financial markets continued to slide. A slowdown in Chinese manufacturing added to Wall Street's worries.

The breadth of the sell-off was seen across global financial markets, from sharply lower stock markets in Asia to falling government bond prices in Europe and the U.S. Gold also plunged.

The Dow's drop which knocked the average down 2.3 percent to 14,758.32 was its biggest since November 2011. It comes just three weeks after the blue-chip index reached an all-time high of 15,409. Continue reading "Stocks extend slide as China adds to worries" →

Stocks edge lower as investors wait on Fed

Posted on by The INO.com Team

The stock market is waiting on the Fed.

Major indexes drifted lower in midday trading Wednesday as traders wondered what the Federal Reserve will say about the U.S. economy and the central bank's huge stimulus program this afternoon.

The U.S. central bank will release its latest policy update at 2 p.m. Eastern Daylight Time and Bernanke will speak at a press conference thirty minutes later. Comments by Bernanke last month suggesting the central bank may soon ease that support unsettled investors and caused this year's rally in stocks to stall.

"All eyes are on Bernanke and markets are being held hostage until he speaks," said Joseph Tanious, Global Market Strategist at J.P. Morgan Funds.

The Fed has been buying $85 billion of bonds a month to support an economy that is still struggling to grow faster following the Great Recession.

The Dow Jones industrial average fell 19 points, or 0.1 percent, to 15,298 as of 12 p.m. Eastern Daylight time. Continue reading "Stocks edge lower as investors wait on Fed" →

U.S. factory output rise just 0.1 percent in May

Posted on by The INO.com Team

U.S. factories barely increased their output in May after two months of declines, a sign that manufacturing is providing little support for the economy.

The Federal Reserve said Friday that factory production rose just 0.1 percent in May from April. Output fell 0.4 percent in April and 0.3 percent in March.

Factories produced more autos, computers and wood products last month, offsetting declines in the production of primary metals such as steel and furniture.

Manufacturing output has risen just 1.7 percent in the past 12 months. Continue reading "U.S. factory output rise just 0.1 percent in May" →