Former Federal Reserve Chairman Alan Greenspan said equity markets will see a decline at some point after surging for the past several years. “The stock market has recovered so sharply for so long, you have to assume somewhere along the line we will get a significant correction,” Greenspan, 88, s…
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Greenspan Says Stocks to See ‘Significant Correction’
Economic growth in Europe remains disappointing. Virtually all European Union members are expected to post higher output in 2014; but, according to the International Monetary Fund’s latest projections, the average growth rate in the eurozone will barely exceed 1%. And, whereas the British economy is…
With hours until the country could default, Argentine leaders negotiating in New York City are finally putting together something of an attractive deal. …
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Argentina Finally Makes An Offer Worth Listening To
Wednesday’s surprisingly strong report on second-quarter economic growth should keep the Federal Reserve on track to finish its bond-buying program in October, while intensifying the debate about when to start raising short-term interest rates without resolving it. The new figures provide the Fed…
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Hilsenrath: Modest Growth Beneath the Surface Keeps Fed on Track
U.S. crude stocks fell more than forecast last week, while gasoline stocks increased and distillate inventories rose less than expected, data from the Energy Information Administration showed on Wednesday. Crude inventories fell by 3.7 million barrels in the last week, compared with analysts’ exp…
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U.S. crude inventories fell more than forecast – EIA
The U.S. economy rebounded strongly in the second quarter this year, advancing at a 4.0% seasonally adjusted annual rate and raising hopes for sustained growth going forward. Consumer spending and inventory buildup led the gains, and offset a drag from higher imports. Economists called the report …
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Economists React: Second-Quarter GDP ‘Confirms Expectations for Future Economic Growth’
U.K. stocks fell after the U.S. joined the European Union in imposing sanctions on Russia for the Kremlin’s involvement in the insurgency in eastern Ukraine. Antofagasta Plc retreated 4.2 percent after saying its cash costs climbed during the first half. Compass Group Plc lost 2.9 percent after t…
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U.K. Stocks Drop as U.S. Adds to EU Sanctions on Russia
The AUD/CAD is seen in the daily chart breaking above a falling consolidation channel. It has been falling from the 2014-high at 1.0350 to 0.9937. Here are a few observations in the daily chart: …
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AUD/CAD Signals Bullish Continuation with a Breakout
The US dollar is extending its gains in response to the strong US GDP figures. There are four elements of the report to note. First, the economy expanded by 4.0% in Q2, well above consensus expectations. Second, Q1 was revised to show a 2.1% contraction rather than 2.9%. Third, personal…
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US GDP Lifts Dollar and Stocks
Companies added 218,000 workers in July, exceeding the average for the year and showing improving demand is bolstering the U.S. job market, a private payrolls report showed today. The gain this month followed a 281,000 increase in June that was the strongest since November 2012, according to data…
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ADP Says Companies in U.S. Boosted Payrolls by 218,000 in July
Gains in consumer spending and business investment helped the U.S. economy rebound more than forecast in the second quarter following a slump in the prior three months that was smaller than previously estimated. Gross domestic product rose at a 4 percent annualized rate after shrinking 2.1 perce…
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Economy in U.S. Expanded More Than Forecast Last Quarter
The Industrial Product Price Index (IPPI) edged down 0.1% in June, mainly because of lower prices for motorized and recreational vehicles. The Raw Materials Price Index (RMPI) rose 1.1%, largely as a result of higher prices for crude energy products. The IPPI posted a third consecutive monthly…
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Canada Industrial Product and Raw Materials Price Indexes, June2014
Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 4.0 percent in the second quarter of 2014, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first qu…
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US Gross Domestic Product, 2nd quarter 2014 (advance estimate)
Private sector employment increased by 218,000 jobs from June to July according to the …
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ADP: Private Sector Employment Increased by 218,000 Jobs in July
Consumer prices in Germany are expected to rise by 0.8% in July 2014 compared with July 2013. Based on the results available so far, the Federal Statistical Office (Destatis) also reports that the inflation rate –measured by the consumer price index –isexpected to increase by 0.3% on June 2014. The…
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Germany Consumer Prices in July 2014: Expected Rise of +0.8% on July 2013
The European Central Bank said Wednesday that credit standards on loans for companies within the currency area eased for the first time in seven years in second quarter. In its regular Bank Lending Survey report, published in Frankfurt, the ECB said standards were relaxed across all categories an…
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ECB: Credit Standards Eased Across Board in Q2
The following are the expectations for today’s FOMC July policy meeting as provided by the economists at Goldman Sachs, Bank of America Merrill Lynch, Deutsche Bank, Credit Suisse, Barclays Capital, and other major banks. GS: We expect that this week’s FOMC statement will show very little chang…
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What To Expect From FOMC? – Views From Goldman & 10 Other Banks
After months of rumors that such a move was coming, China’s top leadership body said Tuesday night that it had launched an investigation into one of its own former members, the highest-level official to face such a probe in a generation. The object of possible criminal charges is 71-year-old Zho…
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China’s big bust shocks the nation
Financial markets and nervous investors continue to be influenced by the geopolitics of Ukraine and Russia. Yesterday’s announcement that the US and EU would be moving to Stage 3 sanctions (against financial, defense and energy sectors has turned the mood once more towards caution. Wall Street…
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Euro will remain weak despite stretched selling momentum
The U.S. Federal Reserve on Wednesday looks certain to press forward with its plan to wind down its bond-buying stimulus, and could offer some vague clues on how much nearer it might be to finally raising interest rates. The central bank is widely expected to cut its monthly asset purchases to $…
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Fed seen trimming bond buys, could offer vague rate clues
