Stocks were mixed in early trade Monday as a smattering of mixed corporate deal news and a steep drop in oil prices helped the Dow but techs struggled over concerns with chip prices.
Bonds fell Monday after a report showed foreign purchases of U.S. Treasurys at their lowest level since April.
The dollar rallied to a two-month high against the yen as hopes for a Chinese revaluation of the yuan faded. The greenback also built on gains verses the euro in light of a U.S. budget proposal that is seen by some as a serious effort to tackle the deficit problem.
A frail Nelson Mandela told thousands gathered in London's Trafalgar Square Thursday that the world must do a better job of eliminating poverty.
CNNMoney: Slow start for stocksupdated: Tue Feb 01 2005 09:01:00
Stocks edged higher Tuesday, with investors cautious as Federal Reserve policymakers began a two-day meeting to determine future interest rates.
Little violence and what appears to be a big turnout in the Iraqi elections shored up the dollar Monday ahead of what could be a volatile week in currency.
The dollar weakened further Wednesday, deepening its earlier decline amid momentum-driven trading after China reignited market talk of a currency revaluation. Bonds traded mixed.
The dollar traded mixed Friday while Treasury bond yields were little changed.
The dollar hit a two-month high against the euro Tuesday after a Federal Reserve member forecast strong economic growth and rising interest rates for 2005.
The yen briefly rose to a five-year high against the dollar Monday as investors bet next month's meeting of Group of Seven industrialized nations would urge Asian countries to let their currencies rise.
The Group of Seven industrialized nations, the International Monetary Fund and the Bush administration have all agreed that China's currency, the yuan, should be more flexible.
Treasury bond prices edged higher Monday, as investors proved reluctant to make any major bets ahead of key events such as a speech from the Fed chairman and the crucial September jobs report.
CNNMoney: Stocks get a setbackupdated: Mon Feb 09 2004 09:43:00
U.S. stocks eased Monday as investors watched the volatile dollar and saw few broad market implications from a $4 billion technology merger.
Stocks opened in mixed territory Monday amid a slew of merger news and after the United States pledged to let market forces determine the direction of the dollar.
Doubts that the Group of Seven nations would act to support its warning against "excess volatility" sent the dollar to a two-week low against the euro Monday while Treasury prices remained flat.
CNNMoney: Market springs backupdated: Fri Feb 06 2004 09:48:00
U.S. stocks rallied Friday in a bounce off recent declines and on bets that the strong, but lower-than-forecast January payrolls number means that the Federal Reserve will hold rates steady for some time.
CNNMoney: Stocks await jobs, G7updated: Fri Feb 06 2004 05:50:00
The January employment report and the start of the G7 finance ministers meeting in Florida will get investors' attention as the trading week comes to an end Friday.
CNNMoney: Girding for the G7updated: Fri Feb 06 2004 05:38:00
Market participants were quick to label last fall's Group of Seven finance ministers' meeting in Dubai the "mini-Plaza" because, as at the famous confab at New York's Plaza Hotel in 1985, the get-together seemed to signal an agreement that the dollar needed to keep dropping.
Winter has dulled gold's sparkle.
U.S. Treasury prices fell Monday after the government reported that personal spending and income rose in December, as the component that makes up two-thirds of the economy remained healthy.
© 2013 Cable News Network. Turner Broadcasting System, Inc. All Rights Reserved.
|