Jan 28, 2009 5:37 PM ET
The U.S. Fed left its key lending rate range unchanged near zero and indicated its preparedness to buy U.S. Treasuries. The move may be designed to allow the administration and the U.S. Congress to create more budget deficit spending.
Jan 27, 2009 6:34 PM ET
U.S. stocks closed higher after a day of listless trading. Earnings dominated the trading sentiment. General Electric and its finance division may face ratings downgrade as analysts believe profit target may be hard to reach. Crude falls but gold traded near $900 price.
Jan 23, 2009 6:44 PM ET
U.S. stocks traded sideways on weak earnings and continued worries of the financial system health. Citigroup raised $12 billion in a largest FDIC guaranteed offering. President Obama promised tighter oversight of TARP funds after former Merrill Lynch chief used $1.2 million to renovate his office.
Jan 20, 2009 6:17 PM ET
Barack Hussein Obama took oath as the 44th president of the United States and asked Americans to take responsibilities for rebuilding the America. In New York trading investors dumped banks, asset managers and indexes plunged between 4% and 5%. UK was forced to offer second and a larger bailout.
Jan 16, 2009 8:31 AM ET
The U.S. stocks edge higher after the Bank of America was offered emergency loan of $20 billion. The troubled bank and Citigroup declared larger than expected losses. UK is considering to offering more loan guarantees to banks, mortgage and corporate loans. Companies in Asia trim production.
Jan 15, 2009 6:02 PM ET
UK and European markets fell on the worries that the banks may need more capital and financial crisis is likely to get worse before it stabilzes. HSBC, Barclays, Deutsche Bank and RBS declined. The ECB lowered key lending rate 50 basis points to 2% and indicated near term uncertainty remains high.
Jan 15, 2009 11:44 AM ET
Ruble continued its weeklong slide and reached to a new low in ten years. Ruble, now down more than 25% in the last five months against dollar, is expected to drop another 10% in the next three to six months if the crude oil prices remain below $50 a barrel.
Jan 14, 2009 5:25 PM ET
Stocks in New York and European trading fell sharply. U.S. retail sales fell more than expected in December and European stocks declined after large losses at Deutsche Bank and a need for large capital at HSBC. Markets in Brazil, Canada, UK, Germany and Switzerland dropped sharply.
Jan 12, 2009 8:36 AM ET
Russia, battling a sharp drop in crude oil prices, lack of foreign investors confidence and worsening capital flight devalued the currency 2% over the weekend. The ruble is likely to drop as much as 15% in the next six months if oil stays below $50 a barrel.
Jan 12, 2009 8:30 AM ET
Crude oil futures for the immediate month delivery fell after Saudi Arabia lowered its production target below OPEC-agreed target by 300,000 barrels a day. Oil traded as low as $38.20 a barrel in the morning trading but March and April months futures are trading at 15% and 20% premia.