Tag: news

Dollar Losing Ground Vs. Euro After Draghi's Comments

Posted on by The INO.com Team

(RTTNews) - The dollar has pulled back against its major European competitors on Thursday, following comments made by Mario Draghi in defense of the Euro. The comments also sparked a rally in European stock markets and the Spanish 10-year yield dropped more than 30 points to around 6.82 percent, after climbing to a record 7.60 percent earlier in the week.

The European Central Bank President Mario Draghi on Thursday said the bank is prepared to take whatever measures needed to preserve the euro. "Within our mandate, the ECB is ready to do whatever it takes to preserve the euro," he told an investment conference in London. "And believe me, it will be enough." Continue reading "Dollar Losing Ground Vs. Euro After Draghi's Comments" →

Stocks soar after ECB vows to protect the euro

Posted on by The INO.com Team

(AP:NEW YORK) Stocks soared in the U.S. and Europe Thursday after the European Central Bank president vowed to "do whatever it takes" to preserve the continent's monetary union.

The Dow Jones industrial average soared 234 points to 12,913 in the first hour of trading, following European markets sharply higher. Benchmark indexes in Spain and Italy each jumped 5 percent. France's stock market surged 3 percent.

The comments from Mario Draghi at an investor conference at the Olympics raised hopes that Europe's central bank might intervene in markets to bring down the cripplingly high borrowing costs for struggling European countries like Spain and Italy. Continue reading "Stocks soar after ECB vows to protect the euro" →

Nasdaq Turns Positive But Dow Continues To Outperform

Posted on by The INO.com Team

(RTTNews) - Stocks have moved mostly higher over the course of the trading day on Wednesday after turning in a mixed performance earlier in the session. The major averages have all moved to the upside, with the Nasdaq climbing just above the unchanged line.

The strength that has emerged on Wall Street comes on the heels of the notable weakness seen over the three previous sessions, with some traders picking up stocks at reduced levels. Continue reading "Nasdaq Turns Positive But Dow Continues To Outperform" →

Europe Worries Lead To Another Sell-Off On Wall Street

Posted on by The INO.com Team

(RTTNews) - Stocks moved notably lower over the course of the trading day on Tuesday, adding to the steep losses posted in the previous session. Worries about the financial situation in Europe once again contributed to the weakness on Wall Street.

The major averages regained some ground going into the close but still ended the day firmly in the red. The Dow fell 104.14 points or 0.8 percent to 12,617.32, the Nasdaq dropped 27.16 points or 0.9 percent to 2,862.99 and the S&P 500 slid 12.21 points or 0.9 percent to 1,338.31. Continue reading "Europe Worries Lead To Another Sell-Off On Wall Street" →

Futures Pointing To Modestly Lower Open On Wall Street

Posted on by The INO.com Team

(RTTNews) - After ending the previous session notably lower, stocks could see some further downside in early trading on Tuesday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 20 points.

Renewed concerns about the financial situation in Europe are likely to contribute to any early weakness on Wall Street after helping to drag stocks sharply at the start of trading on Monday.

Adding to the worries about Europe, credit ratings agency Moody's revised the outlooks on the Aaa sovereign ratings of Germany, the Netherlands and Luxembourg to negative from stable. Continue reading "Futures Pointing To Modestly Lower Open On Wall Street" →