As if to commemorate the Labor Day, the long-awaited report has brought some optimism in the U.S. labor market somewhat lessening fears of a repeated national economy recession. With the exception of the agricultural sector, the employment level fell by 54 thousand jobs, with almost double figure predicted earlier.
Статьи, помеченные тэгом ‘US Federal Reserve’
Recently B.Bernanke stated that the FRB is ready to intervene when required. One more disappointing report may push the FED to a new stage of quantitative easing strategy. Therefore, let us proceed to our monthly task of trying to predict the course of employment indicators using pay-roll record data.
The previous week has finished with growth for the U.S. stock market, owing to B. Bernanke’s speech. The FED chairman has assured the markets of continued financial support of the U.S. economy.
Although the overseas indices closed with growth, European bidders view it as a short-term effect. Persisting problems in the U.S. residential property market may provoke a fresh turn of recession, which even the U.S. government can hardly cope with.
The professor of economics at New York University’s Stern School of Business Nouriel Roubini believes that in the third quarter U.S. GDP growth won’t exceed 1%. The economist evaluates the chances of a repeated recession at 40%. One can hardly question Roubini’s estimates, but how could they help to make money with such forecasts?
The Dow Jones Industrial Average is having hard times. The American stock market hasn’t witnessed a bullish trend for a long time. Clouds are gradually gathering over the stock markets. Today’s trading is expected to be volatile once again.
Shares in British banks were down on the FTSE 100 in morning trading as investors continued to fret about the prospects of economic recovery. Royal Bank of Scotland Group plc shares continued to decline sharply to 44.81 points, losing -0.89 (-1.95%) in the early trading session. The other British banks fall even lower.
The treat of collapse: Lloyds Banking Group PLC (LON: LLOY) and Royal Bank of Scotland Group plc (LON: RBS) fallTuesday, August 24th, 2010
Royal Bank of Scotland Group plc (LON: RBS) shares continued to decline to 44.81 points, losing -0.89 (-1.95%) in the early trading session. Other British banks fall even lower. Anyway, Bulls still hope for better…
Bank of America Corporation (NYSE: BAC) shares continue to trade in the green zone, despite the absence of positive statistics. Bank shares rose by 1.2% in the last hour of the trading session. Gaining about 1%, Citigroup Inc. (NYSE: C) shares aren’t falling below 3.79 points.
Now it’s all up to Bernanke’s speech. Bank of America Corporation (NYSE: BAC) and JPMorgan Chase & Co. (NYSE: JPM) shares rise in price today, but can dramatically collapse due to interest rates rising by the Fed.