There has much debate if and when Spain would request for a full-fledged bailout from the European Central Bank. There’s not much clarity on the International Monetary Fund’s role in the whole process. For the ECB to officially start the Outright Monetary Transaction (OMT, which is synonymous with the bank’s unlimited bond buying program from the secondary markets) for a …
Heading South On Earnings Worries; Europe Retreats Over IMF Warning
[Chart courtesy of MarketWatch.com] US stocks pulled back sharply Wednesday with the S&P 500 posting its fourth down session in a row, as investors became concerned over growth, or the lack thereof, after aluminum producer Alcoa cut its global demand outlook citing weak Chinese demand. Chevron’s warning on third quarter profits weighed on the Dow Industrials after the oil conglomerate …
Last Week In Review: ETF News And Blog Posts To 10/7/2012
In case you missed it, here’s a summary of the ETF topics and market reviews I posted to my blog during the week ending on 10/7/2012. After some aimless meandering for a couple of days, upward momentum picked up, and the S&P 500 managed to add some 1.5% for the week. The mode of operation continues to be the same, …
ECB In Wait And Watch Mode; Will They Have To Act?
The European Central Bank is in a wait and watch mode, says Ansgar Belke, chair for macroeconomics at the University of Duisburg-Essen, and is unlikely to do something extraordinary, like it did in September. Mario Draghi’s pledge to do whatever it takes to preserve the euro and plans to buy unlimited bonds from the secondary markets to bring down borrowing …
Economic Report, ECB Spur Bank Rally; Europe Wobbles
[Chart courtesy of MarketWatch.com] US stocks jumped Thursday with the Dow registering its third gain session in four after the latest jobless report beat estimates, and the US Fed said it allegedly can manage risks arising out of the latest round of balance sheet expansion. Sentiment got a boost after a Labor Department report revealed initial unemployment benefits claims rose …
US Indexes Edge Higher On Data; Europe Ends Lower On Spain Jitters
US indexes finished marginally higher Wednesday as improved services sector and payroll data lifted investor sentiments but the gains were pared after China’s official non-manufacturing PMI reading for August dropped to the lowest level since March 2011. The Institute for Supply Management’s non-manufacturing index that covers nearly 90 percent of the economy rose to 55.1 in September from 53.7 in …