The dollar and yen rose Friday after a report showed the U.S. unemployment rate spiked and the economy lost more jobs than expected, stoking concerns about the U.S. economy and restoring safe-haven demand for both currencies.
I don't know about you, but I don't have a spare $101,900 stuffed under my couch cushions to buy an "A" share of Warren Buffett's Berkshire Hathaway. I probably could scrounge together $3,395 for one "B" share, but I would rather not.
Stocks rallied Thursday, with the Dow industrials topping 10,000, after the government reported a bigger-than-expected drop in jobless claims, and a number of retailers reported improved October sales.
When the U.S. dollar gained ground on the Euro and other currencies last year, glossy travel magazines celebrated the affordability of once-pricey locales. Cheap lattes in Paris!
The dollar and the yen gained broadly Thursday as the euro and perceived higher risk currencies succumbed to profit-taking ahead of a policy decision by the European Central Bank.
The dollar fell Wednesday as a rally on Wall Street undermined demand for the greenback as a safe haven.
A recent report that Galleon investigators have subpoenaed a former SAC Capital Advisors employee shows that the scandal's tentacles are maybe reaching farther and farther.
Gold prices surged to a record high Tuesday after the International Monetary Fund said it had sold 200 metric tons of the precious metal to India's central bank.
The dollar rose against rival currencies Tuesday as weakness in global stock markets and concerns about the banking sector boosted demand for the greenback as a safe haven.
The dollar and yen fell Monday in volatile trading as steady stocks and data showing further evidence of an economic recovery around the world dampened safe-haven demand for the U.S. and Japanese currencies.
The dollar and yen rose Friday after a report showed the U.S. unemployment rate spiked and the economy lost more jobs than expected, stoking concerns about the U.S. economy and restoring safe-haven demand for both currencies.
I don't know about you, but I don't have a spare $101,900 stuffed under my couch cushions to buy an "A" share of Warren Buffett's Berkshire Hathaway. I probably could scrounge together $3,395 for one "B" share, but I would rather not.
Stocks rallied Thursday, with the Dow industrials topping 10,000, after the government reported a bigger-than-expected drop in jobless claims, and a number of retailers reported improved October sales.
When the U.S. dollar gained ground on the Euro and other currencies last year, glossy travel magazines celebrated the affordability of once-pricey locales. Cheap lattes in Paris!
The dollar and the yen gained broadly Thursday as the euro and perceived higher risk currencies succumbed to profit-taking ahead of a policy decision by the European Central Bank.
The dollar fell Wednesday as a rally on Wall Street undermined demand for the greenback as a safe haven.
A recent report that Galleon investigators have subpoenaed a former SAC Capital Advisors employee shows that the scandal's tentacles are maybe reaching farther and farther.
Gold prices surged to a record high Tuesday after the International Monetary Fund said it had sold 200 metric tons of the precious metal to India's central bank.
The dollar rose against rival currencies Tuesday as weakness in global stock markets and concerns about the banking sector boosted demand for the greenback as a safe haven.
The dollar and yen fell Monday in volatile trading as steady stocks and data showing further evidence of an economic recovery around the world dampened safe-haven demand for the U.S. and Japanese currencies.
World stocks added to the previous week's losses on Monday, hugging one-month lows as investors pulled back from a more than seven month rally and prepared for the eventual withdrawal of stimulative monetary policy.
The dollar and yen rallied Friday as a sharp selloff in the stock market and uncertainty about the economy boosted safe-haven demand for the U.S. and Japanese currencies.
The government is finding no shortage of willing buyers for its debt as the shaky economy continues to spur demand for safe haven assets.
A growing number of Americans are becoming aware of the Federal Reserve System, what it is, how it has precipitated our financial crisis, and how it continues to pursue policies that delay economic recovery and weaken the dollar.
The dollar fell against the euro on Thursday, ending a four-day advance, after the U.S. economy grew more than expected in the third quarter, sending investors back into riskier assets.
Oil rose nearly $3 to top $80 a barrel Thursday after news that the U.S. economy returned to growth in the third quarter, reviving expectations of an increase in fuel consumption.
The dollar and yen gained Wednesday as concerns about a global economic recovery and steep losses in Wall Street stocks boosted safe-haven appeal.
Oil fell more than 2% Wednesday on worries about demand in the world's largest fuel consumer after data showed a surprise build in U.S. gasoline inventories and weak U.S. new home sales.
While there has been some excitement in the courtroom itself during the first few weeks of the federal criminal trial of Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin, the real action in the trial so far seems to be taking place in and around a small bank in Florida that had nothing to do with the original conspiracy and the fraud charges filed against the two men in June 2008.
The dollar rose to a two-week high against the euro Tuesday after a report showing U.S. consumer confidence deteriorated sharply in October boosted the greenback's safe-haven appeal.
Did you make bubble-era investments that left you so far underwater you needed a submarine? If so, you've got company. Gather round, and I'll show you how some of the smartest and richest folks in America lost more than half a billion dollars by buying into the commercial real-estate bubble in the summer of 2007.
The U.S. dollar rose broadly Monday, rebounding from a 14-month low against the euro as falling stock and commodity prices prompted investors to lock in recent gains in other currencies.
Dole Food's initial public offering didn't go so well. The world's largest fresh fruit and vegetable company priced its deal below the anticipated offering range -- it then promptly wilted.
The dollar and euro soared against sterling Friday after data showing the U.K. economy was still mired in recession stunned investors who had expected it to return to growth.
When last week the federal government arrested Raj Rajaratnam of the Galleon Group for masterminding a $25 million insider-trading ring, the biggest head-scratcher was the inclusion of Anil Kumar in the government's complaint.
Blue chips led a bigger stock market rally Thursday, as better-than-expected results from four components pushed the Dow industrials above 10,000 again and reassured investors about the ongoing corporate reporting period.
The dollar rose broadly Thursday as most investors bet the greenback's recent sharp slide against major currencies had gone too far, too fast.
Stocks tumbled Wednesday afternoon, after influential analyst Richard X. Bove downgraded his rating on Wells Fargo, sparking a steep selloff in the banking sector.
Bond prices fell Wednesday after the Federal Reserve released its latest report showing signs of a stabilizing economy.
The dollar slumped Wednesday, with the euro rising above $1.50 for the first time in 14 months, as optimism about the global economic recovery boosted demand for higher yielding currencies.
The dollar rose against major rivals Tuesday after euro zone officials said they support a stronger greenback.
Oil prices are back around $80 a barrel for the first time in nearly a year. But is that good news or bad news for the economy? Let the debate begin.
Currency investors continue to remain concerned that the U.S. Federal Reserve will hold rates near zero and that the dollar could lose its place as the world's dominant reserve currency.
The $20 million insider-trading ring that the U.S. government alleges was masterminded by billionaire hedge-fund manager Raj Rajaratnam also included two former Bear Stearns hedge-fund managers. According to two federal complaints, two of Rajaratnam's partners in the alleged crimes were Mark Kurland, of Mount Kisco, N.Y., and Danielle Chiesi of New York City. Both Kurland, 60, and Chiesi, 43, were arrested last week, along with Rajaratnam, and charged with insider trading. Bail for Kurland was set at $3 million and for Chiesi at $2 million (Rajaratnam's was set at $100 million).
Galleon may have been holed below the waterline. The indictment of Raj Rajaratnam, the technology-focused hedge fund firm's founder, on insider trading charges is likely to scare investors away. Amid the shock and the intriguing details of the allegations, there's a broader lesson for investors about hedge fund governance.
You already know that to protect yourself against stock market meltdowns, you should devote more of your portfolio to bonds as you age. But as you may have discovered recently, the downside protection you get can vary dramatically depending on the type of bonds you own.
Stocks slumped Friday, at the end of an upbeat week on Wall Street, as a sour response to General Electric and Bank of America's quarterly results gave investors a reason to retreat.
The dollar recovered some of the week's losses Friday, as news of a large quarterly loss at Bank of America and flagging consumer confidence dulled investor demand for higher-yielding, higher-risk currencies.
Crude oil prices steadied at a one-year high above $78 a barrel Friday after U.S. industrial production grew in September, boosting optimism for an economic recovery.
Oil prices have vaulted above $78 a barrel this week as investors continue to fret about a weak dollar and the pace of the economic recovery.
Hedge funds are finally getting their heads above water. The average fund could soon regain the high water mark at which its manager starts minting performance fees again.
Question: My wife and I keep $20,000 in a passbook savings account as an emergency reserve. What's driving me crazy is that we're getting only 60 cents a month in interest. I like the security of the account and the immediate access, but 60 cents a month on 20 grand???? How can I do better? --Dale F., Waldorf, Maryland
The dollar was mixed against major rivals on Thursday following better-than-expected economic data about inflation and jobless claims.
The dollar fell to multi-month lows against the euro and commodity currencies on Thursday as policymaker comments reinforced views U.S. interest rates would stay lower for longer than those of other major countries.
The dollar hit a 14-month low versus the euro and a currency basket on Wednesday on the view that U.S. interest rates will stay low, while higher commodity prices reflected optimism about an improving global economy, tarnishing the U.S. currency's safe-haven appeal.
World stocks hit a 12-month high on Wednesday as forecast-beating Intel Corp results and Chinese trade data brightened the economic outlook, while the dollar plumbed 14-month lows, sending oil and gold higher.
The dollar continued its decline against rival currencies Tuesday, but managed to swing an intraday recovery as stocks seesawed.
Crude oil rose to a seven-week high above $74 a barrel Tuesday after OPEC raised its 2010 demand forecast and the dollar weakened, boosting demand for commodities.
Two former Bear Stearns hedge fund managers go to court Tuesday in the first, and so far only, prominent criminal trial stemming from the mortgage meltdown.
The dollar was mixed against its counterparts in a quiet-but-volatile trading day.
In a bit of pre-trial drama, federal prosecutors recently placed the digital diary of Matthew Tannin into the public record. In it, the Bear Stearns hedge fund manager fretted about becoming addicted to sleeping pills some six months before the funds he co-managed blew up in the summer of 2007.
It sounds like the plot of a bad spy novel.
A gleaming Manhattan skyscraper and a group of well-heeled stockbrokers were some of the coveted assets that JPMorgan Chase snatched up when it acquired Bear Stearns for $10-a-share in March 2008. But like the stick of dynamite that lies hidden in one of Wiley Coyote's birthday cakes, JPMorgan also took on the liability for all of Bear Stearns ongoing litigation as part of that merger. So when the criminal trial of Ralph Cioffi and Matthew Tannin, the managers of the two failed Bear Stearns hedge funds that sparked a market meltdown in 2007, begins next Tuesday, JPMorgan's interest in the case will be more than academic.
The dollar fell against its major rivals Thursday as investors flocked to higher yielding assets such as stocks and commodities on better-than-expected earnings results and jobs data.
Gold rallied to its third record high in a row Thursday as the dollar continues to deteriorate and investors remain concerned that a bout of inflation is on the horizon.
Despite all the finger-pointing over who's to blame for the worst financial crisis since the Great Depression, just two prominent players face criminal charges.
The dollar was mixed against its main trading partners Wednesday as a retreat on Wall Street boosted some demand for the greenback as a safe haven.
Treasurys held gains Wednesday after the most recent phase of this week's $78 billion offering of U.S. debt received above-average demand.
Wall Street rallied Tuesday, gaining for a second straight session as a weaker dollar boosted commodities and dollar-sensitive stocks, fostering a broad-based advance.
Gold surged to a record high Tuesday after a news report sparked widespread talk about the U.S. dollar being unseated as the currency for trading oil.
The dollar was mixed against its main trading partners Monday as stocks rebounded on a statement from the Group of Seven major economies.
Stocks rallied Monday, with the Dow, S&P 500 and Nasdaq all gaining at least 1%, as investors used a two-week selloff as an opportunity to jump back into the market.
Treasurys fell Monday after the government received strong demand for its sale of $7 billion worth of 10-year Treasury Inflation Protected Securities.
Oil topped $70 a barrel Monday, tracking an advance on Wall Street.
The much awaited trial of Ralph Cioffi and Matthew Tannin, the managers of two failed Bear Stearns hedge funds that sparked a market meltdown during the summer of 2007, looks like it will have a new twist when it gets underway on October 13. One of the defendants, Ralph Cioffi, made a lightening-fast trip to Florida last month allegedly to get his hands on a key piece of evidence -- documents from Busey Bank, in Ft. Myers, Fla. Was the hedge fund manager engaging in a cover-up, as the U.S. Attorney's Office in Brooklyn asserts? Or was Cioffi merely up to a bit of amateur detective work to exonerate himself, as his defense attorney claims?
Stocks took a beating Thursday and didn't recover much Friday following the news that the job market took another turn for the worse in September.
The dollar fell against the euro and the yen Wednesday despite downbeat economic data that sparked a selloff on Wall Street.
Stocks slipped Tuesday after a surprise drop in consumer confidence countered a better-than-expected housing market report. That added to lingering questions about the strength of an economic recovery.
Treasurys were mixed Tuesday, with the 30-year bond rising following a surprise drop in consumer confidence, while shorter-term debt was pressured by concerns about the Federal Reserve's interest rate policy.
At this time a year ago, short sellers were branded scapegoats by many who were not happy to watch the value of their stock portfolios rapidly dwindle away.
After a six-month hiatus of initial public offerings, the market looks to be heating up.
Stocks slumped Thursday, falling for the second straight session, as a surprise drop in existing home sales and tumbling commodity prices gave investors a reason to sell into a rally that pushed the major gauges to one-year highs.
The dollar hovered near a one-year low Wednesday after the Federal Reserve left a key interest rate unchanged near 0%, though it said "economic activity has picked up."
Question: I just heard that the federal government is no longer insuring money market accounts for their $1 per share value. Is that correct? --Terry, Las Vegas, Nevada
Stocks rallied Tuesday, finding momentum after a choppy morning, with the Dow, S&P 500 and Nasdaq all hitting one-year highs.
Wall Street stretched to new one-year highs Friday as investors weighed economic optimism with jitters about the pace of the rally amid the "quadruple witching," a big quarterly options expiration.
Investors readied for a moderately higher open on Wall Street Friday, as optimism about the economic recovery offset concerns about the recent surge in stocks.
Stocks ended modestly lower Thursday as investors struggled to balance hopes for an economic recovery with fears that equities have surged too far, too fast.
Oil prices fell slightly Thursday as stocks slipped, after gaining more than 5% earlier this week.
Question: I'm 63 and planning to retire in three years. I'm considering investing in high-yield bond funds because they generate good income. Do you think I should do this and, if so, what percentage of my portfolio allocation should I devote to high-yield funds? --Frank, Groveport, Ohio
Gold prices settled Wednesday at their highest point as the dollar slumped and inflation concerns boosted demand for the metal as a hedge against rising prices.
It looks as if China still can't get enough of one of America's finest exports: our debt.
Did you know you can invest in the weather? It's true. You can actually make money speculating that the temperature in Sacramento, California, will be warmer than it normally is. If that's too dull for your portfolio, you can put money down on the inches of snowfall next winter in Boston, Massachusetts, or the strength of hurricanes in the Gulf of Mexico.
Oil prices dropped below $68 a barrel Monday as the dollar gained strength after hitting lows against major currencies last week.
Just one year ago, the world's financial sector was plunged into chaos and panic as Lehman Brothers -- one of the biggest investment banks -- collapsed. Consumers learned some hard lessons, including how to cope with substantial 401(k) losses.
As government regulators switch from crisis-mode to rescue mode, many of the biggest and most successful bailout programs are well on their way to extinction. But there are plenty of others that are gaining momentum as the economy heads toward a recovery.
Gold prices settled at a new record high of $1,006.40 on Friday, rallying ahead of the $1,000-an-ounce mark for the third time this week.
Stocks were set to open lower Monday as investors await a speech by President Obama about financial services reform and keep an eye on a China-U.S. trade spat.
The dollar fell to a one-year low against a basket of currencies in volatile trading Friday as safe-haven demand evaporated and investors fret about the stability of the U.S. currency.
A key bank-to-bank lending rate fell to its lowest point on record Wednesday, signaling continued easing of the once-frozen credit markets.
Stocks rallied Friday in a thinly traded session ahead of the Labor Day weekend, as investors focused on the positives in a mixed report on the labor market.
Are gold investors starting to sense something wrong that others are missing?
Last year Andrew Hall, the head of Citigroup's energy trading unit, made over $100 million, making him one of the highest paid people on Wall Street.
Question: I'm 58 and have $30,000 sitting in an online savings account earning around 2% annually. Is there some way I can get a better return on this money? I want to use some of it within the next five years or so for travel. --Nate, Texas
Treasurys enjoyed a small bounce Monday as a government auction of short-term notes attracted high demand and as investors sought shelter from a selloff in stocks.
When it comes time to plot out your investment strategy, you probably focus most of your attention on how equities are doing and pay scant attention to the inner workings of bonds. But ignore the fixed-income market at your peril.
The dollar continued to lose ground Friday at the end of a week in which it became cheaper for banks to borrow in yen than dollars for the first time in 16 years.
Oil prices settled more than $1 higher Thursday, reversing directions several times toward the end of a volatile trading week.
The hedge fund manager who made his name by predicting the demise of Enron says he warned world leaders of a systemic banking failure in 2007, but he was ignored.
The dollar goes down. Stocks go up. Lather. Rinse. Repeat.
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