The bad news for the US dollar just keeps on coming. The American greenback set yet another record low today as the euro moved up to a high of $1.4966 earlier in the day, breaking yesterday's record of $1.4873. The dollar also fell to a new two and a half year low against the yen in Asian trading, as the yen fell to under 108. Traders are continuing to worry about the ...

Yesterday morning we looked at oil prices, and noted that they were getting pretty close to breaking through the psychological $100 barrier. We also noted that prices could get a big lift if we got a bullish inventory report from the US Energy Department yesterday. Well, we did indeed get a bullish report, which showed that inventories fell by a little over 1 million barrels (analysts had been expecting to see ...

Oil prices have traded as high as $99.29 earlier today and are looking as though they are ready to finally break through the $100 barrier. Prices are being driven by supply concerns and expectations that the FED will be cutting interest rates again at its next meeting. Later this morning the US Energy Department is going to be releasing last week's inventory numbers and we will get a better picture of ...

In the premarket futures are trading well down and below fair values following an earnings warning from the banking giant Wachovia Corp. (NYSE: WB). The company announced in a filing to the SEC today that it is expecting to see fourth quarter losses from loans between $500 and $600 million. During the month of October the company states that it had $1.1 billion of further losses related to the credit turmoil ...

Federal Reserve chairman Ben Bernanke has decided to state the obvious today... the U.S. economy is going through a tough time. Is this the same Bernanke that has been saying all year that the subprime mortgage crisis has been contained? Well, thanks for confirming what most of us already knew... record high oil prices and the severe housing slump are going to weigh on the American economy, and that an economic ...

Oil prices have moved $1.85 higher today and are currently sitting at $95.34. Today's move is coming mainly as a result of this morning's October payroll report that showed a much greater than expected jump in payrolls. This has put to rest some recession fears, and combined with a falling dollar, Hurricane Noel, and concerns in the Middle East have all put oil back on its track up towards $100 ...

Shares of financial giant Merrill Lynch (NYSE: MER) have been taking a beating in today's market, extending its two week losing streak. A research note out of Deutsche Bank AG stated today Merrill may be about to writedown as much as $10 billion in relation to its subprime losses. Rumors have been swirling all around Merrill lately, and now it appears as though the SEC is going to be investigating ...

After yesterday's market sell off, and a tough session for foreign exchanges, the U.S. market got a much needed boost of confidence this morning from a better than expected report on U.S. payrolls. According to the Labor Department this morning, American employers added twice as many new jobs as analysts had expected. Analysts had expected to see an increase of 85,000 payrolls during October, but the market was delighted to see ...