Bad news for Goldman and Greece, good for bonds
01.05.10
Treasury prices rose Friday, as investor worries grew about Greece's aid package and a credit rating agency downgraded Goldman Sachs stock.
Signs of gold fever are everywhere. TV commercials scream, "Sell your baubles, prices are reaching the sky!" Investors have poured more than $12 billion this year into SPDR Gold Trust, the big exchange-traded fund. Wall Street futures pulled out of their slump Friday and rose in pre-market trading, following a report showing a huge decline in jobs.
Stocks got pummeled Thursday, with the Dow, Nasdaq and S&P 500 losing enough to fall into "correction territory" - marked by a drop of more than 10% off the rally highs.
Happy Labor Day weekend. Or for the 1.5 million of you out there (including me) estimated to be taking a plane somewhere, good luck in the airport. Stocks seesawed Thursday on worries about the consumer after weak retail sales, and ahead of the December employment report which is expected to show massive job losses.
Stocks rallied Tuesday as investors looked beyond the Federal Reserve's dour outlook on the economy and instead scooped up shares hit in last year's big selloff.
Oil prices extended their declines Thursday as further signs of economic weakness signaled a slowdown in demand.
Oil prices jumped Friday for the third straight day as optimism about the economic recovery and a weaker dollar boosted the appeal of crude. The euro continued bouncing off four-year lows seen earlier this week, as investors unwound bets against the shared currency on speculation that the European Central Bank will intervene in the market for the first time in 10 years.
Stocks jumped Thursday, with the blue-chip Dow index ending more than 120 points higher, as investors reacted to a rise in Exxon Mobil earnings and brushed off concerns about European debt problems.
Oil prices fell in one of the biggest single-day declines in history Wednesday, after a woeful supply report gave previously bullish investors little reason to believe oil would sustain a rally anytime soon.
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Truckers, railroads and other transportation companies are seeing a pickup in demand for the first time in four years, a strong vote for the economic recovery. But for stock investors, timing an entry point into the sector is tricky. Oil prices rose for the second straight day Thursday, after upbeat jobs data and the dollar weakened against the euro, boosting the attractiveness of crude.
Treasurys fell Friday, erasing earlier session gains that had pushed the 10-year yield to a one-year low.
Oil backs off 7-month low
22.05.10
After hitting a new 7-month low earlier in the day, oil prices rebounded as investors looked ahead to the expiration date of the active futures contract.
Euro extends gains on dollar
22.05.10
The euro pared back earlier losses against the dollar Wednesday, after Germany said it would ban short selling on some European bank shares and the zone's government bonds.
Treasurys little changed amid volatile trading
22.05.10
Treasurys were little changed Wednesday, as investors looked for direction amid mixed signals out of Europe and the United States.
Stocks skid on global economic jitters
22.05.10
Stocks recovered from deep losses posted earlier in the session but ended lower Wednesday, as investors welcomed the Fed's forecast of an improving economy amid lingering fears about the global economy.
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