The Crisis in Middle-Class America
One of my favorite topics since I themed the year with our 2010 Outlook "A Tale of Two Economies" and in the years before that I’ve been bitching about the topic of wealth disparity in America to the point where even arch-Conservatives Alan Greenspan and David Stockman are now forced to agree with me. So that’s two down, 99,999,998 to go!
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Bank of England Holds Key Rate Steady as Economy Moves into Uncertain Territory
On Thursday the Bank of England policymakers voted to leave its benchmark interest rate at the historically low 0.5%. This move was expected because BoE officials are still unsure what the effect the newly implemented austerity measures will have on the economy. Furthermore, there is still uncertainty over what the upcoming new taxes will have on economic growth.
Bank of England Holds Key Rate Steady as Economy Moves into Uncertain Territory
On Thursday the Bank of England policymakers voted to leave its benchmark interest rate at the historically low 0.5%. This move was expected because BoE officials are still unsure what the effect the newly implemented austerity measures will have on the economy. Furthermore, there is still uncertainty over what the upcoming new taxes will have on economic growth.
Worries about Economy Losing Steam Drives U.S. Dollar Lower
The U.S. Dollar is under pressure against most majors as investor concern that the U.S. economy’s recovery is losing steam drove traders into higher yielding assets. The overnight weakness in the Dollar was triggered by a better than expected economic report in Australia and a strong surge in Asian equities.
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- General Market News, economy, U.S. Dollar, Drives, Lower, about, Worries, Steam, Losing
Weak Outlook for U.S. Economy Pressure Dollar
This week the EUR USD penetrated the 1.31 price level for the first time since May. The primary driving forces behind this move were the better outlook for the Euro Zone economy and the weak outlook for the U.S. economy. The data out of Europe may have brought the European Central Bank closer to a rate hike than the Fed.
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- FOR
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- General Market News, economy, FOR, weakening dollar, outlook, U.S, Weak, Pressure
GDP Up 2.4%; Economy Growing Slowly; Stocks Called Lower
U.S. economic growth slowed during the second quarter more than economist estimates, pressuring equity markets before the opening. Expectations were for a rise of 2.5% to 2.7%. The actual GDP figure was an increase of 2.4%. Stocks fell on the news as investors shed risky assets.
All Eyes on Stress Tests Today; European Economy Shaping Up
The strong economic data from Europe this week is helping to renew confidence in a global economic recovery while the U.S. still struggles with the possibility of a double-dip recession. Traders have been punishing the Dollar late this week as the combination of dovish testimony from Fed Chairman Bernanke and robust economic news from Europe means interest rates will remain low in the U.S.
Weak Economy, Technical Reversal Could Trigger Stock Market Break
Overnight stock futures are showing slight gains. Selling in Asia and a 4.2% drop in Google stock is likely capping the market in the pre-market. News that Goldman Sachs reached a $550,000 settlement with the SEC has had very little impact on the market. Trading has also been light ahead of the release of earnings data from Citigroup, General Electric and Bank of America.
STOCK FOCUS: See todays top penny stocks to invest in.
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U.S. Stocks Drop, Led By Commodity Shares, as Oil, Metals Fall
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- , stock market, Investing, economy, Investment, U.S
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