Tag: news

Stocks May Come Under Pressure Amid Focus On Europe

Posted on by The INO.com Team

(RTTNews) - After seeing considerable volatility last week, stocks are likely to move to the downside in early trading on Monday. The major index futures are currently pointing to a sharply lower open, with the Dow futures down by 98 points.

The downward momentum for the markets comes as traders keep a close eye on the latest developments in Europe, where Spain formally asked for a bailout from the European Union to shore up its ailing banking sector.

Europe is likely to remain in focus throughout the week, as European leaders are due to hold a summit to discuss the ongoing debt crisis on Thursday and Friday. Continue reading "Stocks May Come Under Pressure Amid Focus On Europe" →

Stocks slide after weak manufacturing reports

Posted on by The INO.com Team

By MATTHEW CRAFT
AP Business Writer

(AP:NEW YORK) A batch of weak economic reports sent stocks lower Thursday. The worst of the bunch was a regional manufacturing index that sank for the second straight month.

The Philadelphia branch of the Federal Reserve reported that manufacturing in the Northeastern U.S. slumped this month, pulled down by drops in new orders and shipments. Economists had expected no change in the index. It was the worst reading since last August. Continue reading "Stocks slide after weak manufacturing reports" →

Fed extends "Twist" program to drive rates lower

Posted on by The INO.com Team

(AP:WASHINGTON) Below is the statement the Fed released Wednesday after its policy meeting:

Information received since the Federal Open Market Committee met in April suggests that the economy has been expanding moderately this year. However, growth in employment has slowed in recent months, and the unemployment rate remains elevated. Business fixed investment has continued to advance. Household spending appears to be rising at a somewhat slower pace than earlier in the year.

Despite some signs of improvement, the housing sector remains depressed. Inflation has declined, mainly reflecting lower prices of crude oil and gasoline, and longer-term inflation expectations have remained stable. Continue reading "Fed extends "Twist" program to drive rates lower" →

Oil price rises on hopes Fed will boost US economy

Posted on by The INO.com Team

By CHRIS KAHN
AP Energy Writer

(AP:NEW YORK) The price of oil is rising on hopes that the Federal Reserve will announce new measures to stimulate the U.S. economy.

U.S. West Texas Intermediate crude rose by 79 cents to $84.06 per barrel. Brent crude, which helps set the price for oil imported into the U.S., added 4 cents to $96.09.

The Fed holds a two-day meeting that ends Wednesday, and in the past it has taken action to encourage Americans to spend and borrow. Many analysts think the struggles of the U.S. economy and Europe's debt crisis will compel the Fed to say or unveil something to try to boost confidence. Continue reading "Oil price rises on hopes Fed will boost US economy" →

Greek Election Outcome May Only Delay Euro Exit: Capital Economics

Posted on by The INO.com Team

(RTTNews) - Though the victory of the pro-bailout New Democracy in Sunday's elections eases concerns of Greece's imminent exit from the euro-zone, the country still faces the risk of leaving the single-currency bloc at the end of this year, Capital Economics European Economist Ben May said in a note Monday.

According to the firm, policymakers will need to take much greater action, perhaps including significant steps towards full fiscal and banking union, to prevent a bigger, more damaging form of break-up. Continue reading "Greek Election Outcome May Only Delay Euro Exit: Capital Economics" →