Obama pledges tough enforcement of Wall Street reforms
President Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $ 2 billion trading loss at JPMorgan underscored the need for such regulation. “We’ve got to finish the job of implementing this reform and putting these rules in place,” Obama said in a [...]
Wall St Week Ahead: The market is oversold, but major signs say “sell”
NEW YORK (Reuters) – Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions. With the corporate earnings season drawing to an end [...]
EU Morning Report- Greek and Spanish woes weigh on the euro
The euro (EUR) plummeted against the dollar sliding to a four-month low at 1.2655 from 1.2748 as risk aversion dominates the markets. World equities tumbled as investors fear that Greece may leave the euro after the second election in the country in June. Poor economic data from the US and concerns about the growing [...]
Wall Street flat after Facebook IPO fizzles
NEW YORK (Reuters) – Stocks were little changed on Friday, reversing earlier gains after Facebook Inc stumbled in its market debut after a delayed opening. Shares of the social networking giant were volatile in early trading, falling to near breakeven levels after early gains of more than 10 percent. In early trading it was the [...]
Merkel Called Greek President To Clarify German Position -Spokesman – Wall Street Journal
Telegraph.co.uk Merkel Called Greek President To Clarify German Position -SpokesmanWall Street JournalBERLIN (Dow Jones)–Over the past 24 hours German politicians have been in steady contact with Greece's caretaker government to impress upon Athens that Berlin wants Greece in the euro, but that Greece must fulfill its international obligations.Greek, Spanish crises deepen; markets await summitChannel News [...]