Concerned about a eurozone debt crisis, traders and hedge funds have bet nearly $8B against the euro in the largest ever short position of the currency. Unfortunately for them, the euro is up 0.75% against the dollar, in part on speculation of an imminent Greece bailout
09:12 AM
The public will soon have access to a 2,200-page report on Lehman's collapse, detailing causes of the collapse, the sale of key assets to Barclays (BCS) and whether there were any signs of fraud, dishonesty or misconduct.
The public will soon have access to a 2,200-page report on Lehman's collapse, detailing causes of the collapse, the sale of key assets to Barclays (BCS) and whether there were any signs of fraud, dishonesty or misconduct.
09:20 AM
Stocks appear poised to bounce higher as European markets rise on hopes that Greece will get EU help to tackle its budget deficit. S&P futures +0.9% to 1066.
Stocks appear poised to bounce higher as European markets rise on hopes that Greece will get EU help to tackle its budget deficit. S&P futures +0.9% to 1066.
10:22 AM
Morgan Stanley upgrades Caterpillar (CAT +5.1%) to Overweight from Underweight, the first time in three years of coverage that the broker has been positive on the company. Price target raised to $70 from $51 "on both the pace of cyclical acceleration and on CAT's ability to deliver on its structural transformation."11:09 AM
The EU ends months of limbo by formally ratifying a new commission, including a new economic team: Finland's Olli Rehn as economy commissioner (he'll watch Greece's deficit), France's Michel Barnier as financial-services chief and Spain's Joaquin Almunia as competition chief. The new team has a number of challenges as it takes over from a caretaker regime.
The EU ends months of limbo by formally ratifying a new commission, including a new economic team: Finland's Olli Rehn as economy commissioner (he'll watch Greece's deficit), France's Michel Barnier as financial-services chief and Spain's Joaquin Almunia as competition chief. The new team has a number of challenges as it takes over from a caretaker regime.
11:42 AM
Bernanke testimony tomorrow is snowed out, but the Fed will be releasing text of his statement in spite of the postponement. Updated 12:11 p.m.: Bernanke's testimony will be released tomorrow at 10 a.m. EST on the central bank's site.
Bernanke testimony tomorrow is snowed out, but the Fed will be releasing text of his statement in spite of the postponement. Updated 12:11 p.m.: Bernanke's testimony will be released tomorrow at 10 a.m. EST on the central bank's site.
12:07 PM
Stocks are surging at the noon hour on reports that eurozone countries have agreed in principle to a financial aid package for Greece. Dow +1.8% to 10,088, S&P +1.6% to 1073, Nasdaq +1.3% to 2153.
Stocks are surging at the noon hour on reports that eurozone countries have agreed in principle to a financial aid package for Greece. Dow +1.8% to 10,088, S&P +1.6% to 1073, Nasdaq +1.3% to 2153.
12:19 PM
China's auto sales hit a monthly record of 1.66 million vehicles in January, extending last year's strong gains and bucking forecasts for weaker growth, but the rapid growth is not expected to be sustainable.
China's auto sales hit a monthly record of 1.66 million vehicles in January, extending last year's strong gains and bucking forecasts for weaker growth, but the rapid growth is not expected to be sustainable.
12:42 PM
Here we go: German government spokesman says reports about decision on aid for Greece are "unfounded." (Reuters) S&P down 9 points in two minutes
Here we go: German government spokesman says reports about decision on aid for Greece are "unfounded." (Reuters) S&P down 9 points in two minutes
02:40 PM
Of course stocks are rallying on the slightest hint of a Greek bailout, Vincent Fernando says: It's a fix for uncertainty that uses euros instead of dollars. If you're outside of Europe, root for the best outcome, a rescue that creams France and Germany
Of course stocks are rallying on the slightest hint of a Greek bailout, Vincent Fernando says: It's a fix for uncertainty that uses euros instead of dollars. If you're outside of Europe, root for the best outcome, a rescue that creams France and Germany
03:06 PM
Stocks have traded in a range since midday but continue to hold broad gains amid strength in many sectors: transportation, energy, basic materials and consumer goods. With an hour to go, the Dow +1.8% to 10,089; S&P 500 +1.5% to 1,072; Nasdaq +1.3% to 2,153. Crude +2.6%. Silver +2.6%. Copper +2.8%. Gold +1%.
Stocks have traded in a range since midday but continue to hold broad gains amid strength in many sectors: transportation, energy, basic materials and consumer goods. With an hour to go, the Dow +1.8% to 10,089; S&P 500 +1.5% to 1,072; Nasdaq +1.3% to 2,153. Crude +2.6%. Silver +2.6%. Copper +2.8%. Gold +1%.
4:02 PM
Stocks mostly held their midday surge and the Dow logged its best day in five weeks as news (and rumors) flew about a bailout of Greece. The DJIA closes +1.5% (+150.17) to 10,058.56; S&P 500 +1.3% (+13.77) to 1,070.51; Nasdaq +1.2% (+24.82) to 2,150.87. Crude +2.6% to $73.79. Gold +1.1% to $1,078.10.
Stocks mostly held their midday surge and the Dow logged its best day in five weeks as news (and rumors) flew about a bailout of Greece. The DJIA closes +1.5% (+150.17) to 10,058.56; S&P 500 +1.3% (+13.77) to 1,070.51; Nasdaq +1.2% (+24.82) to 2,150.87. Crude +2.6% to $73.79. Gold +1.1% to $1,078.10.
(Hentet fra SA)
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