Sweeping changes to U.S. financial regulations came one step closer to fruition today, as 20 hours of negotiation between the House and Senate came to a close. The new rules, which still have to be approved in a full House and Senate vote before landing on President Barack Obama’s desk, will affect credit card companies,… Read more.
General Financial News
Analysts and experts expect the Federal Reserve to keep interest rates at their record, near-zero low level after a meeting today, says Forbes.com. Even though the Federal Open Market Committee has been meeting for two days against a turbulent and troubled economic landscape, no one expects much more than a “stay the course” message from… Read more.
New procedures to lock down trading of shares that show erratic or panicked movement got their first test yesterday, when shares of the Washington Post Co. (WPO) spiked to almost $1000, reported Bloomberg on Thursday. The trading halt appeared to vindicate those who called for new circuit-breaker rules, as WPO stock was frozen after just… Read more.
US stock markets started lower on Wednesday as a drop in new home construction once again raised concerns that the fragile economic recovery might stall, and the federal government ordered Fannie Mae and Freddie Mac to delist from the NYSE. Bloomberg reported figures from the Department of Commerce, saying that housing starts fell to an… Read more.
Fitch Ratings delivered another blow to BP when it announced this morning that it has downgraded the oil company’s long-term credit risk from AA to BBB, two steps above “junk.” Although the repercussions were not immediately seen in the company’s share price there are reasons to be wary of major ramifications down the line. Oil… Read more.
Equities investors appeared to shrug off the news of Greece’s downgrade to “junk” bond status on Tuesday morning as U.S. stock market futures were up, reported Bloomberg. On the flip side, the yield that investors demand to hold 10-year Greek bonds jumped 74 basis points to 9.08 percent. As investors lose more and more confidence… Read more.
A number of economic indicators, including currency and stock market futures contracts, gave different signals as traders awaited Petroleo Brasileiro’s sale of shares worth approximately $25 billion next week. The state-run oil company, more commonly known as Petrobras, is planning what Bloomberg says is the biggest share sale in the Western Hemisphere in at least… Read more.
A survey of Bloomberg subscribers found that emerging markets no longer represent the most attractive investment destination for investors and analysts, signalling a change in sentiment from the year’s start. A similar poll taken in January rated China as the best market for investors, followed by Brazil. Brazil and China, along with Russia and India,… Read more.
Commodities investors may have reason to suspect that the economic recovery will be far more difficult than hoped, especially when it comes to areas like consumer spending. One such indicator came from the Conference Board Leading Economic Index, which posted a 0.1 percent decline in April after rising 1.3 percent in March and 0.4 percent… Read more.
Investors of all kinds have come to see data from the housing and real estate sectors as important indicators that can provide greater insight into the overall state of the economy. With that in mind, observers may be interested to hear about new federal government data showing that housing starts reached 672,000 in April, marking… Read more.