DJIA: 16,102.38  -272.38 (-1.66%) | NASDAQ: 4,683.918  -49.578 (-1.05%) | S&P 500: 1,921.22  -29.91 (-1.53%) Markets status unavailable

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    BAML estimates as much as $700 billion could exit China. In yet another sign of deteriorating confidence in China's economic prospects, capital outflows from the country are accelerating quickly, adding another layer of worry for investors and policy makers alike. "If all of the capital that went into China since 2010 were to exit, this would mean another $400 billion could leave.

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    * Euro touches 2-week low vs dollar. * ECB forecasts slower euro zone growth. * U.S. labor, trade data aid dollar. By Michael Connor. The euro fell more than 1 percent on Thursday, surrendering most of the gains it made against the dollar following China's devaluation of the yuan last month, after European central bankers cut economic growth targets and left interest rates unchanged.

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    Mortgage rates moved higher ahead of the holiday weekend, according to the latest data released Thursday by Freddie Mac.This week’s rise follows last week’s decline, and it seems unlikely that the market’s skittishness will abate soon. Besides the turmoil in the world economy, many observers are trying to figure out what the Federal Reserve will do later this month at its meeting. All this uncertainty is causing volatility in the mortgage market. The 30-year fixed-rate average climbed to 3.89 percent with an average 0.6 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 3.84 percent a week ago and 4.1 percent a year ago. This was the sixth week in a row the 30-year fixed rate has stayed below 4 percent.The 15-year fixed-rate average rose to 3.09 percent with an average 0.6 point. It was 3.06 percent a week ago and 3.24 percent a year ago.[How borrowers can help make the mortgage application process go smoother]Hybrid adjustable rate mortgages were mixed. The five-year ARM average increased to 2.93 percent with an average 0.4 point. It was 2.9 percent a week ago and 2.97 percent a year ago.The one-year ARM average held steady at 2.62 percent with an average 0.3 point, same as it was a week ago.“ ‘Fasten your seat belts. It’s going to be a bumpy night,’ said Bette Davis in ‘All About Eve,’ ” Sean Becketti, Freddie Mac (FMCC) chief economist, said in a statement.He continued: “That could just as well have been Janet Yellen, or a specialist at the New York Stock Exchange, or the head of the People’s Bank of China (BACHF) on yet another week with lots of volatility on essentially no new information.”“The 30-year mortgage rate increased [five] basis points, but don’t read too much into that. The Fed took great pains at the Jackson Hole conference to keep all their options open and to avoid making too much — or too little — of the situation in China and the volatility in global equity markets. This Friday’s employment report is the last piece of significant, solid evidence the [Federal Open Market Committee] will have to consider before their September decision. [Wall Street] appears to be calling it a coin flip. There won’t be a clear direction for mortgage rates until the Fed makes its September decision, at the earliest.”[Global market chaos throws Federal Reserve’s rate hike plan into doubt]Meanwhile, mortgage applications soared following last week’s rate drop, according to the latest data from the Mortgage Bankers Association.The market composite index — a measure of total loan application volume — climbed 11.3 percent from the previous week. The refinance index jumped 17 percent, while the purchase index increased 4 percent.The refinance share of mortgage activity accounted for 58.7 percent of all applications.






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    Silver Wheaton   stock is down 0.43% to $11.63 in midday trading on Thursday, as commodities prices decline ahead of tomorrow's release of U.S. employment data. Silver Wheaton (SLW) is a Vancouver, Canada-based mining company that generates revenue from silver and gold sales.

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    Petrobras  shares are falling as Morgan Stanley analysts said that if oil prices were to continue at its current levels, long term, shareholders would see no value in the stock, Barron's.com reports. Oil prices need to get higher in the future because it is the key factor boosting the Brazil state-controlled oil giant's exploration and production, analysts said.

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    * MSCI global stocks index climbs. * Euro falls 1 pct on euro zone outlook. * U.S. jobs data due on Friday. * IMF urges accommodative policy. By Caroline Valetkevitch. The euro fell 1 percent on Thursday on a darkening euro zone outlook, while global stock markets rallied as the European Central Bank chief pledged to beef up or prolong the bank's economic stimulus if necessary.

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    European stocks closed sharply higher Thursday after the head of the European Central Bank said he is ready to pump more stimulus into the eurozone economy as needed. The Stoxx Europe 600 rose 2.4% to finish at 362.24. The broad European benchmark finished near its highs of the session, registering one of its best gains on percentage basis, so far this year.

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    * FTSEurofirst 300 up 2.4 percent, extending gains. * ECB downgrades inflation view, says bond-buying adjustable. * EasyJet surges on positive profit outlook. By Alistair Smout. European shares rose sharply on Thursday, extending earlier gains as the European Central Bank delivered a dovish message from its first meeting after weeks of market turmoil.

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    * TSX up 102.45 points, or 0.76 percent, to 13,647.7. * Nine of the TSX's 10 main groups rose. By Solarina Ho. Canada's main stock index rallied more than 1 percent on Thursday as energy stocks tracked rebounding crude prices and markets digested this week's domestic economic data.

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    U.K. stocks ended higher Thursday, as a surge in shares of EasyJet PLC helped the benchmark FTSE 100 ring up its strongest gain in a week. The FTSE 100 finished 1.8% higher Thursday to close at 6,194.10, helping the London market post its best gain since a 3.6% rally Aug. 27, which came as it recovered from a selloff in equity markets world-wide. China's markets are closed Thursday for a holiday, which has "provided some much-desired respite from the economy and market that has been at the...

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    * U.S. stocks higher in early trading. * Euro falls on euro zone outlook. * U.S. jobs data due on Friday. * IMF urges accommodative policy. By Caroline Valetkevitch. The euro fell on Thursday on a darkening euro zone outlook, while global stock markets rallied as the European Central Bank chief pledged to beef up or prolong the bank's economic stimulus if necessary.

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    * Euro touches 2-week low vs dollar. * ECB forecasts slower euro zone growth. * Labor, trade data aid dollar. By Michael Connor. The euro fell 1 percent on Thursday, surrendering most of the solid gains put up against the dollar since China devalued the yuan last month, after European central bankers cut economic growth targets and left interest rates unchanged.

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    Someone seems to think markets are approaching a nadir for gold miners. Not that it is likely to do minority investors in Polyus Gold International (PGILF) much good. Russian billionaire Said Kerimov said late Wednesday he was considering making an offer for the shares in London- listed Polyus that he doesn't already own.

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    * Canadian dollar at C$1.3252 or 75.46 U.S. cents * Bond prices mostly higher across the maturity curve TORONTO, Sept 3 - The Canadian dollar strengthened against its U.S. counterpart on Thursday, supported by a smaller-than-expected trade deficit in July in Canada and comments from the European Central Bank that dominated currency market moves and battered the euro.

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    * FTSEurofirst 300 up 1.9 percent, extending gains. * ECB downgrades inflation view, says bond-buying adjustable. * EasyJet surges on positive profit outlook. By Alistair Smout. European shares rose sharply on Thursday, extending earlier gains as the European Central Bank delivered a dovish message from its first meeting after weeks of market turmoil.

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    Canada's main stock index rose at the open on Thursday, with most of the index's key sectors advancing, as the latest economic data showed the country's trade deficit narrowed more than expected, to an eight-month low of C$593 million. The Toronto Stock Exchange's S&P/TSX composite index rose 31.26 points, or 0.23 percent, to 13,576.51. Seven of the index's 10 main groups rose.

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    Critical intelligence before the U.S. market opens. Chinese trading is closed so that the world's No. 2 economy can flex its military muscle, while the U.S. gets to strut its stuff on Friday when the monthly jobs report hits. That means it's Europe's turn to take center stage on Thursday.

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    * ECB press conference awaited for any verbal intervention. * Swedish crown rallies after Riksbank keep rates unchanged. By Anirban Nag. The euro steadied on Thursday, having rallied 1.5 percent on a trade-weighted basis since China devalued the yuan last month, with the focus on whether the rise could prompt the European Central Bank to sharpen its language and talk it down.

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    The European Central Bank, as expected, made no changes to official interest rates on Thursday. The ECB's Governing Council left the refi rate at 0.05% and maintained the rate on deposits parked overnight at the bank at negative 0.2%. ECB President Mario Draghi's news conference at 2:30 p.m. Frankfurt time, or 8:30 a.m. Eastern, to see if the central bank is prepared to ramp up its quantitative-easing program in the wake of turmoil in financial markets, concerns about China, and...