U.S. corporate profits plunged a record $120.1 billion in the fourth quarter as the economy shrank at its fastest pace since 1982, depressed by a slump in consumer spending and exports, government data showed on Thursday.
- Stock index futures pointed to a lower open on Wall Street on Tuesday, as the market reopens after a long holiday weekend, with investors bracing for quarterly results from retail behemoth Wal-Mart .
At 4:48 a.m. EST, futures for the S&P 500 were down 2.1 percent, Dow Jones futures were down 1.8 percent and Nasdaq 100 futures were down 1.9 percent.
Wal-Mart, the world's bigg...
- The FOMC decided today to leave unchanged its funds rate at 0.25% as industrial production, housing starts and employment have continued to decline steeply, as consumers and businesses have cut back spending, as well as the Committee expects that inflation pressures will remain subdued in coming quarters. FOMC expects a gradual recovery in economic activity will begin later this year.Fed is prepared to buy longer-term Treasury securities if evolving circumstances indicate such transactions would be particularly effective in improving conditions in private credit markets. US Government will continue purchasing large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets.USD and Dow Jones reacted positively. Wall Street is growing above 8,350 pts, winning 177 points today. EURUSD is falling quickly after the FED decision, touching the 1.3105, the low of the day. USDJPY is climbing up to 90.75, the session's high.According to Nick Nasad, analyst at CMS Forex: I think risk appetite is fueling a bit the Dollar strength, which seems sort of paradoxal in terms of the EUR/USD, but from the way price action was behaving the last two session, the EUR/USD looked ready for a dip... the EUR/USD is responding with a knee-jerk Dollar strength as well as the USD/JPY.
Crude prices rose to $111 on Wednesday as the government reported crude, gasoline and distillate fuel stockpiles in the U.S. dropped larger than expected last week.
US stocks surged on Wednesday as all three major indexes climbed more than 2 percent and Dow Jones industrials rose more than 200 points for the second consecutive day. The climb came after a Federal Reserve official hinted that it may lower interest rates.
Stock futures pointed to a higher opening on Wall Street on Wednesday, as shares continue to rally following the Federal Reserve's aggressive interest rate cut that eased fears over the outlook for the economy.
U.S. index futures pointed to a firmer start on Wall Street on Monday, building on gains in the previous session after the Federal Reserve cut the discount rate it charges banks, and with little scheduled news on the agenda.
Belgian-Dutch financial services group Fortis reported a 16 percent year-on-year rise in second-quarter net profit on Thursday, beating analysts' expectations due to strong banking results.
Stock futures eased on Friday suggesting a fall on Wall Street after the Federal Reserve kept interest rates unchanged on Thursday but flagged persistent price pressures, reducing the chances of a rate cut.
U.S. stock futures on Tuesday pointed to an uncertain start after two sessions of losses, with the housing sector in renewed focus ahead of housing starts data.
U.S. Treasuries were down slightly on Monday, ahead of a series of Federal Reserve speakers this session and before this week's inflation data, which could shed insight on the likelihood of a June rate hike.
