European Central Bank head Mario Draghi says the bank is ready to intervene in the bond market to drive down countries' high borrowing rates, and urged European leaders to get their bailout fund ready to intervene as well.
Draghi said Thursday the bank could buy bonds if the borrowing rates stop the ECB in its efforts to spread its low interest rates throughout the 17 countries that use the currency. Continue reading "Draghi announces no immediate action"
September crude oil closed higher on Wednesday as it consolidated some of Tuesday's low. The mid-range close sets the stage for a steady opening when Thursday's night session begins. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. Closes below last Wednesday's low crossing at 86.84 would confirm that a short-term top has been posted while opening the door for a larger-degree decline into early August. If September renews the rally off June's low, the 50% retracement level of this year's decline crossing at 94.28 is the next upside target. Continue reading "Morning Energy Market Commentary"
With traders reacting negatively to the latest headlines out of Europe, stocks may come under pressure in early trading on Thursday. The major index futures are currently pointing to a lower open for the markets, with the Dow futures down by 83 points.
The downward momentum for the markets comes as traders digest remarks by European Central Bank President Mario Draghi, who is speaking at a press conference following the central bank's monetary policy meeting. Continue reading "Stocks May Move To The Downside Amid Focus On Europe"
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(AP:WASHINGTON) The Federal Reserve said Wednesday that the economy is losing strength and repeated a pledge to take further steps if the job market doesn't show sustained improvement.
The Fed took no new action after its two-day policy meeting. But it acknowledged that economic activity had slowed over the first half of the year, unemployment remains elevated and consumer spending has weakened. Continue reading "Fed says US economy has slowed, takes no new steps"
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