As G-20 Leaders Meet-ECB Cuts Rates, Greek Vote Seems Unlikely, U.S. Initial Jobless Claims Below 400,000: Dow jumps back to pre -Papandreou levels. The Dow Jones Industrial Average jumped today after the European Central Bank cut rates a quarter of a percentage point to 1.25 percent. The unexpected rate cut sent the Dow Jones...
Stocks slide after possible Greek vote over EU rescue plan announced: News from Greece shakes market confidence globally about a potential EU debt crisis solution. Massive selling hit the major averages in the U.S. and globally after Greece spooked the market with news it would let its people vote on the European plan to...
MF Global files for bankruptcy…They can’t be the only firm overexposed to Europe: U.S. financial institutions’ exposure to Europe needs to be checked -again. MF Global, a derivatives and commodities trading firm, has filed for bankruptcy. The company had lost a significant portion of assets due to the extended European debt crisis which caused...
Markets React to Fed, Europe and Apple: Dow trades back and forth over past week and a half. The major averages are reacting to several data points today such as information from the Fed, Apple as well as Europe. The Fed’s Beige Book was released today and it added to speculation that the economy...
New Home Sales Down 2.5 Percent: The data for the housing sector has been mixed- negative. Existing home sales were up for the month of August while home builders saw a drop in activity. New home sales fell in August by 2.3 percent the Commerce Department said today. New home sales for August remain...
