Portuguese Central Bank Governor Vitor Constancio was formally approved by EU finance ministers as the next vice president of the ECB Tuesday. Constancio could be considered “dovish,” Nick Matthews from RBS told CNBC.
The market is pricing in another euro fudge; the EU has always fudged its way around fundamental issues,” Julian Pendock from Senhouse Capital told CNBC Wednesday when discussing the outlook for stocks in the wake of Greece’s debt problems.
Tuesday, February 16, 2010 Market Commentary: The major averages ended higher after the latest round of stronger than expected economic and earnings data was released. Volume, a critical indicator of institutional sponsorship, was lower than the prior session on both exchanges which prevented the major averages from producing a sound follow-through day. Advancers trumped decliners by…
Friday, February 12, 2010 Market Commentary: The major averages snapped a four week losing streak after the EU said it will help Greece with its ballooning budget deficits. Stocks closed lower on Monday after concern spread that several European countries may default on their debt. Greece, Spain and Portugal are the three primary suspects for the latest sovereign debt crisis. Monday- Friday Review:
Looking at the market, as long as last Friday’s lows are not breached, the window is now open for a new follow-through day (FTD) to emerge. A new follow-through day will be confirmed when one of the major averages rallies at least +1.7% on higher volume than the prior session as a new batch of leaders breakout of sound bases. However, if last Friday’s lows are breached then the day count will be reset and a steeper correction may unfold.
Erik Neilsen, chief European economist at Goldman Sachs, says the Greek contagion will be contained.
The Shanghai Composite Index is likely to continue a “broad sideways movement,” Daryl Guppy, CEO of Guppytraders.com, told CNBC Thursday. Guppy also takes a technical look at the CAC-40 and FTSE-100.
The BoK’s decision to keep rates on hold at 2% on Thursday came as no surprise to PK Basu, MD & chief economist at Daiwa Capital Markets. He tells CNBC’s Oriel Morrison what contributed to the central bank’s dovish tone.
Wednesday, February 10, 2010 Market Commentary: Stocks closed lower on speculation that the European Union will not bailout Greece. Volume was reported lower than the prior session on the NYSE and the Nasdaq exchange. Decliners led advancers by a small margin on the NYSE and the Nasdaq exchange. There were 6 high-ranked companies from the CANSLIM.net Leaders List that made a…
Airtime: Tues. Feb. 9 2010 | 1:49 PM ET
Warren Buffett and former Treasury Secretary Hank Paulson discuss former President Bush and his reaction to the financial crisis.