Saturday, 18 August 2012
President Barack Obama faced stiff resistance to the possibility of releasing emergency oil reserves to quell rising energy prices on Friday, with Asian allies and the head of the West’s energy agency rejecting any need for action now.
U.S. stocks rose for a sixth week, giving the Standard & Poor’s 500 Index its longest rally since January 2011, as economic reports beat forecasts and Germany backed the European Central Bank’s bond-buying plan.
The U.S. Treasury Department on Friday said it had priced an offering of preferred shares of M&T Bank Corp as part of its unwinding of financial crisis bailouts for expected proceeds of about $381.5 million.
Copper prices rose for a second session on Friday as upbeat U.S. consumer confidence data and supportive comments from German Chancellor Angela Merkel on solving the euro zone crisis offset concerns about China’s slowing economy.
The price of gold, a traditional inflation hedge, flattened on Friday on uncertainty over whether the U.S. Federal Reserve and other central banks will use monetary stimulus to boost economic growth.
Friday, 17 August 2012
U.S. Treasuries yields rose on Thursday, trading near three-month highs as diminishing fear about the euro zone and less conviction that the Federal Reserve will initiate more monetary stimulus next month dampened demand for safe-haven U.S. debt.
Nikkei share average rose to a three-month high on Friday as investors’ risk appetite grew After German Chancellor Angela Merkel appeared to back the European Central Bank’s efforts to tackle the euro zone debt crisis.
U.S. crude futures rose more than 1 percent on Thursday as comments from Germany’s chancellor that appeared to back the European Central Bank’s efforts to combat the euro zone crisis lifted equities, pressured the dollar and fed hopes for more economic stimulus.