Wall Street drops at open after payrolls
NEW YORK - Stocks dropped at the open on Monday in the wake of Friday's much weaker-than-expected report on March U.S. job creation.
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Found more than 1 month ago on channel
Reuters
Weekly Wrap: QE3 and its effect on the economy
Friday, September 14, 2012 - 15:26 STAN HONDA/AFP/Getty Images Catherine Rampell from the New York Times and Sudeep Reddy from the Wall Street Journal wrap up this week's business headlines. On how the Fed's decisions will affect jobs in the U.S.: Sudeep Reddy: Ben Bernanke is making a fairly simple bet: He's betting that a stable stock market is going to better for the economy than a collapsing stock market, and lower mortgage rates are going to be better than higher mortgage rates at this point. And he's hoping that all of this will boost confidence and give people more money to spend, which in the end can boost job creation. There's some evidence to support both of those points, but he also seems to realize that this isn't going to really solve our problems. He was practically begging us yesterday when he was talking to acknowledge that the Fed can't fix our underlying problems. Catherine Rampell: The Fed has already pumped a lot of money into the economy, has already put interest rates ...
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What’s Behind the Crash in the Gold Market?
One of the more interesting phenomena to take place in the markets in recent memory has been the seemingly invincible rise in the value of gold. In the decade between 2001 and 2011, the price of gold rose from $256 per ounce to a high of $1,920 — a whopping 650% return for those lucky enough to have timed the trade perfectly. But since 2011, the gold market has shown signs of weakness, culminating in a multi-day crash that began Thursday and continued into Monday. According to the Wall Street Journal: “Gold futures for April delivery fell $140.40, or 9.4%, Monday to a two-year low at $1,360.60 an ounce on the Comex division of the New York Mercantile Exchange. That extended their bear-market descent of more than 20% from their 2011 all-time high. Since Thursday, gold prices have declined by more than $203 an ounce, a record skid since the futures began trading in the U.S. in 1974.” So what’s behind the remarkable rise in the value of gold — and what changed in recent days that ...
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Wall Street bounces back, helped by gold, data
NEW YORK - Stocks rose at the open on Tuesday, rebounding from the worst day since November, after gold prices made a modest recovery and data on U.S. inflation and new home construction pointed to an improving economy.
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Found 1 month ago on channel
Reuters
Pulitzers Awarded to Times, Journal
The New York Times won four Pulitzer Prizes while The Wall Street Journal received an award for commentary. The award for breaking-news reporting was given to the staff of the Denver Post for its coverage of the movie- theater shooting.
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Madoff trustee cannot block $410 million Merkin accord: judge
The trustee seeking money for victims of Bernard Madoff was barred on Monday from blocking a $410 million settlement resolving New York state's claims against Wall Street hedge fund manager Ezra Merkin, who was accused of secretly steering client money to the swindler.
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Found 1 month ago on channel
Reuters