Federal Reserve

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Fed News Boosts Dow to Record
Fed News Boosts Dow to Record
Oct 9, 2007 3:45 PM CDT

Fed News Boosts Dow to Record

S&P 500 also closes at all-time high

(Newser) - The markets spiked to record highs today after the Fed released minutes from its critical September meeting that revealed unanimous consent for the large interest rate cuts. The Dow climbed 120.80 points to close at an all-time high of 14,164.53. One economist told the Journal, “Just...

Economy Slows, Stocks Surge: What Gives?

'Teflon investors' are relying on the good news

(Newser) - Stocks are surging while classic indicators are signaling slump — so what gives? The answer, reports the Washington Post, lies in a bright jobs report and spiking Standard & Poor's 500-stock index. Backers are dissing the bad news as fast as they can finance, says the Post: "Call them...

Stocks Dip on Mortgage Fears
Stocks Dip on Mortgage Fears
Sep 28, 2007 3:22 PM CDT

Stocks Dip on Mortgage Fears

Foreclosure worries continue to simmer

(Newser) - The markets dropped today on news that mortgage defaults last month climbed 30% from a year earlier, more evidence that foreclosures are on the rise. Wells Fargo and Washington Mutual tumbled, and the Dow dipped 17.31 to 13,895.63. Stocks bottomed out after a Fed official said players...

Stocks Climb on Rate-Cut Hype
Stocks Climb on Rate-Cut Hype
Sep 27, 2007 3:51 PM CDT

Stocks Climb on Rate-Cut Hype

S&P surging on last, next Fed slashes

(Newser) - The stock market rose for a second day as a weak new-home-sales report added energy to speculation that the Fed will slash rates again next month; Bloomberg puts the odds of a quarter-point cut at 88%. The S&P added 5.96 to reach 1,531.38, climbing within 1....

Stocks Rise on Buffett Rumor
Stocks Rise on Buffett Rumor
Sep 26, 2007 3:46 PM CDT

Stocks Rise on Buffett Rumor

Berkshire CEO may buy 20% of Bear Stearns

(Newser) - The Dow climbed 99.5 points today on the strength of the GM settlement and speculation that billionaire Warren Buffett might buy 20% of beleaguered Bear Stearns. The brokerage helped spur the biggest gain in a week, jumping 7.7% after the Buffett story circulated. Said a trader, “You...

Stocks Edge Up in Balancing Act
Stocks Edge Up in Balancing Act
Sep 25, 2007 3:44 PM CDT

Stocks Edge Up in Balancing Act

Retailers’ sales sink as homes out-perform expectations

(Newser) - Stocks rose slightly today as retail woes were somewhat offset by August home sales that outperformed expectations, MarketWatch reports. Led by Microsoft, which rode the release of “Halo 3” to a 1.5% jump, the Dow climbed 19.59 to 13,778.65. The S&P dipped 0.52...

Stocks Dip After Two-Day Spike
Stocks Dip After Two-Day Spike
Sep 20, 2007 3:34 PM CDT

Stocks Dip After Two-Day Spike

Goldman’s success can’t stop dollar jitters

(Newser) - Stocks fell today after two days of bullish investing set off by the Fed’s interest rate cuts; one trader told the Journal profit-taking would have taken its toll "even if there was no news whatsoever.” But there was news: FedEx cut its profit forecast; the dollar continued...

Wall Street Hunts for Its Next Bubble
Wall Street Hunts for Its Next Bubble
Sep 20, 2007 12:48 PM CDT

Wall Street Hunts for Its Next Bubble

Emerging markets upswing could mirror '98 tech boom

(Newser) - With the Fed’s rate cut in place, Wall Street has visions of another bubble—this time in emerging markets. The Dow skyrocketed 2.5% on news of the cut, but even that was dwarfed by 4.2% gains in the Bombay Sensex and 4.3% in Brazil’s Bovespa....

Record Low: Euro hits $1.40
Record Low: Euro hits $1.40
Sep 20, 2007 7:07 AM CDT

Record Low: Euro hits $1.40

Dollar breaks important threshold, but fall isn't over yet

(Newser) - The dollar dropped to a record low against the euro in early Asian trading on Thursday, breaking the $1.40 barrier for the first time since the establishment of the common currency. The Fed's half-point cut in interest rates led investors to drop the greenback, and chief Ben Bernanke's upcoming...

What Inflation? Consumer Prices Fall 0.1%

Fed's rate cut looks good as housing, gas prices hit books

(Newser) - Ben Bernanke is likely patting himself on the back right now, Bloomberg reports. US consumer prices fell 0.1% in August, the first decline this year, making Federal Reserve chairman’s rate cut look good, with inflation potentially under control. “Core inflation has now been falling for nearly a...

Market Still Partying After Cut
Market Still Partying After Cut
Sep 19, 2007 9:36 AM CDT

Market Still Partying After Cut

Rallies continue off of big Federal Reserve rate slash

(Newser) - Wall Street kept the party going today, as the Federal Reserve’s half-point rate cut kept pushing stocks up. Financials even shrugged off disappointing earnings from Morgan Stanley, which posted a more-than-expected 17% drop in net income for the quarter, the Wall Street Journal reports. The Dow rose 58.04...

Asia Stocks Surge After Fed Cut
Asia Stocks Surge After Fed Cut
Sep 19, 2007 5:00 AM CDT

Asia Stocks Surge After Fed Cut

Prices soar to highest levels in a month

(Newser) - Asian stocks rebounded after the US Federal Reserve announced a half point cut in its key lending rate in a bid to bolster growth and avoid a consumer spending slowdown. Toyota, Samsung Electronics and Honda, among those companies with the most to lose from a loss of consumer confidence, led...

Fed Slashes Benchmark Rate
Fed Slashes Benchmark Rate
Sep 18, 2007 2:05 PM CDT

Fed Slashes Benchmark Rate

Larger-than-anticipated drop drives stocks up, dollar down

(Newser) - The Federal Reserve aggressively cut its benchmark rate today, dropping the federal funds rate a half-point to 4.75%. The larger-than-expected cut was “intended to help forestall” the ballooning credit crisis, the central bank said in a statement. The cut in the key interest rate, the first in 4...

Stocks Dive Before Fed Meeting
Stocks Dive Before Fed Meeting
Sep 17, 2007 3:52 PM CDT

Stocks Dive Before Fed Meeting

All indexes fall as traders bite nails over tomorrow's Federal Reserve meeting

(Newser) - Wall Street bit its collective nails today, with fear mounting that the Fed meeting tomorrow will result in a rate cut of only 25 basis points rather than the 50 traders crave. The Dow fell 39.10 to 13,403.42, the S&P 500 dipped 7.60 to 1,...

Expected Fed Rate Cut Could Halt Crisis

Wall Street counting on help to boost falling stock prices

(Newser) - What happens next in the volatile world stock markets could depend on Federal Reserve chief Ben Bernanke. The Fed is expected to cut the interest rates banks charge each other for overnight loans, currently 5.25%. It would make loans cheaper, boost consumer spending, revive stock prices and ultimately, prevent...

Investors Might Reap Rewards of Dollar's Slide

Currency's record lows against euro cause "to cheer," analyst says

(Newser) - The dollar may be continuing its slow, steady decline against the euro, but many analysts are looking on the bright side, Business Week reports. American stocks, companies, investors, and workers can all benefit from the decreasing value of their currency, economists say, with one calling the dollar’s decline “...

Greenspan Attacks Bush, GOP
Greenspan Attacks Bush, GOP
Sep 15, 2007 7:44 AM CDT

Greenspan Attacks Bush, GOP

Former Fed Chair decries Republican economic policies

(Newser) - Former Fed chairman Alan Greenspan lambastes President Bush and his own party  for disastrous economic policies in a memoir published next week. He criticizes the GOP for abandoning fiscal restraint while it had control of both Congress and the White House, the Wall Street Journal reports. Republicans in Congress, he...

Stocks in Holding Pattern With All Eyes on Fed

Hands wring over Fed and consumers

(Newser) - Stocks marked time today, settling into an eerie calm before next week’s nail-biter Fed decision on interest rates. Investors mulled conflicting consumer data: The University of Michigan/Reuters consumer-sentiment survey announced a rise to 83.8, but August retail growth was less than expected. The confusion amounted to modest gains...

August Retail Sales Fail to Meet Forecasts

Gain of .3% drops to .4% loss if auto sales are excluded

(Newser) - Retail sales were up last month, but the .3% rise failed to meet expectations, and if automobile sales are excluded, sales actually fell by .4%—the steepest drop in a year. The August sales figures provide more fodder for an interest-rate cut when the Fed meets next week. “The...

Greenspan Missed Subprime Crisis Signs

And Bernanke's doing 'an excellent job,' says Fed's former Yoda

(Newser) - Alan Greenspan didn't see the subprime crunch coming, the former Fed chairman tells CBS' "60 Minutes." Greenspan also gave his successor a pat on the back, saying Ben Bernanke "is doing an excellent job." Some have suggested that Bernanke isn't acting as presciently as his predecessor;...

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