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World markets subdued amid economic gloom
By PAN PYLAS
AP Business Writer
(AP:LONDON) World stocks were mixed Thursday amid light end of year trading as ongoing concerns about the global economy continued to offset any relief provided by this week’s decision by the U.S. Federal Reserve to cut interest rates to near zero percent.
On Wall Street, the Dow Jones industrial average rose 20.07 points, or 0.2 percent, to 8,844.41 while the broader Standard & Poor’s 500 index was up 1.88 points, or 0.2 percent, at 906.30.
In Europe, Britain’s FTSE-100 was down 0.5 percent at 4,304.39, while Germany’s DAX rose 0.8 percent to 4,745.77. The CAC-40 in France was…
18Dec2008 | INO | 0 comments | ContinuedStocks advance ahead of Fed rate decision
(AP:NEW YORK) Wall Street jockeyed for position Tuesday ahead of the Federal Reserve’s decision on interest rates, which some investors believe will bring the key U.S. rate to the lowest level on record. Stocks rose more than 1 percent, while yields on some U.S. government debt fell to record lows.
Investors uneasy about the economy continued to funnel money into the Treasury market, sending the yield on the 30-year long bond below 3 percent.
Against the fear that has gripped Wall Street since the mid-September bankruptcy of Lehamn Brothers Holdings Inc. and the subsequent freezing of the credit markets most economists are…
16Dec2008 | INO | 0 comments | ContinuedThe $700 Billion Bailout Package Has Nearly Arrived
And No One Outside Wall Street Executive Suites Likes It
For years now, many enlightened financial observers have been warning that the national debt was a ticking time bomb. Guess what? The time bomb has exploded.
But the so-called geniuses on Wall Street didn’t see it coming, did they? Apparently they were far too impressed by their own financial theories, “innovations” and models, not to mention extremely lucrative salaries and bonuses.
And the response of the global markets (and the DJIA itself) to the Great Bailout Fiasco of 2008 has been anything but enthusiastic. Even before the failed vote in Congress just now,…
1Oct2008 | Oxbury Research | 1 comment | Continued
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