Stocks inched lower on Monday with retail shares down after Black Friday and data suggesting weak holiday sales, while data showing expansion in business activity in the Midwest helped to limit losses.
Dubai's government said on Monday it was not responsible for the debts of its flagship conglomerate, offering little clarity on a plan to delay billions in debt repayments that has rattled world markets.
Glitzy Dubai may face a debt crisis that has sent a shudder through global markets, but you wouldn't know it from officials or local media.
Dubai's debt woes could further unhinge an already fragile U.S. commercial real estate market, as it illustrates the importance of that tiny emirate to global investors in an increasingly interconnected world.
Oil prices recovered a little on Monday, rising above $76 a barrel as the dollar weakened, but investors kept a wary eye on debt-laden Dubai and its impact on the global economy.
U.S. stock index futures fell on Monday as investors assessed whether a possible debt default by two of Dubai's flagship firms could threaten a global economic recovery.
Britain's top share index was 0.8 percent lower by midday on Monday, pulled down by weak energy stocks and banks, as investors were troubled by lingering anxiety caused by Dubai's debt problems.
United Arab Emirates stocks dived on Monday as investors waited for clarity on Dubai's plan to delay repaying billions of dollars in debt and government word on how it would tackle a crisis that has rattled global markets.
stock index futures were slightly higher early on Monday, following the previous session's sharp retreat, with futures for the S&P 500 up 0.22 percent, Dow Jones futures up 0.13 percent and Nasdaq 100 futures up 0.24 percent at 0855 GMT (5:55 a.m. EST).
Asian stocks recovered after last week's steep sell-off over the Dubai debt crisis on growing speculation the fallout from a potential default will be limited, while assurances from various authorities also helped calm nerves.
Asian stocks recovered after last week's steep sell-off over the Dubai debt crisis on growing speculation the fallout from a potential default will be limited, while assurances from various authorities also helped calm nerves.
Asian stocks recovered after last week's steep sell-off over the Dubai debt crisis as investors nerves steadied on hopes that the fallout of a potential default will be limited.
United Arab Emirate stocks tumbled 6-7 percent on Monday as the market reopened for the first time since Dubai called for a delay in repaying billions of dollars in debt, spooking global markets.
Oil prices steadied at $76 a barrel on Monday, shedding most of the session's early gains, as worries about Dubai's debt crisis and its impact on the world economic recovery returned to haunt investors.
Investors braced for a 10 percent fall in United Arab Emirate stocks on Monday as the market reopens for the first time since Dubai called for a delay in repaying billions of dollars in debt, spooking global markets.
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The United Arab Emirates offered banks emergency support on Sunday, the first steps to ease fears that a looming debt default by two of Dubai's flagship firms could derail the global economic recovery.
UAE markets will face intense selling pressure when they reopen on Monday in the first post-holiday trading after Dubai shocked global markets last week by seeking a debt standstill for two flagship firms.
Dubai, jobs data, Black Friday results and a chance for Congress to throw fireballs at Fed chief Ben Bernanke: The U.S. stock market's path to glory is fraught with peril this week.
The United Arab Emirates' central bank set up an emergency facility on Sunday to support bank liquidity in the first policy response to Dubai's debt woes that threatened to paralyze lending and derail economic recovery.
The United Arab Emirates' central bank set up a facility on Sunday to support liquidity in the banking system Dubai's government sought to delay debt payments from two of its flagship firms, sending global markets lower.
Dubai World has refused to offload assets at fire-sale prices to repay obligations, forcing it to seek a debt standstill, a newspaper report on Sunday quoted an unnamed source at the government-controlled firm as saying.
