U.S. stocks rose on Wednesday as lawmakers reached a compromise deal on a
stimulus package, even as gold shot to a six-month high and government debt
prices gained as investors expressed doubts about the U.S. government's
revamped plan to rescue ailing banks.
The dollar rose against the yen in choppy trade as the highly anticipated plan unveiled on Tuesday by U.S. Treasury Secretary Timothy Geithner fell short of market expectations and drove up the appeal of safe havens.
U.S. oil prices fell 4.3 percent after the International Energy Agency said global energy demand this year would post its biggest decline since 1982 due to the world's downturn.
MSCI's all-country index fell 0.23 percent, while an index of Europe's leading companies and a pan-Asia index outside of Japan also declined.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Gold jumps on risk aversion, oil slumps > MONEY MARKETS-Dollar 3-month Libor rates inch higher > EMERGING MARKETS-Mexico debt offer weighs on credit market > COMMODITIES-Gold jumps 3.0 percent, other markets down
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > US Congress, White House reach stimulus deal > Wall St chiefs scolded by US lawmakers > Demand in US 10-year note auction soothes some fears > US trade gap shrinks, mortgage applications tumble > ECB policymakers talk up chances of rate cut > EU plans triple summit to tackle economic crisis > Fortis investors reject breakup, BNP deal in doubt > European non-life insurance shines amid slump > Ireland to invest $9 bln in top banks > Bank of England could start quantitative easing - King > UK jobless total rise to 6.3 pct, highest since 1998 > Credit Suisse reports worst full year loss ever > China imports down 43 pct, exports down 17.5 pct in Jan
ANALYSIS RELATED TO CREDIT CRISIS > Latin American banks ride out economic storm > Geithner snub shows banks the key for markets > Expensive East European banks may haunt buyers > Fragile rouble stability depends on oil price, budget > China begins long journey to regionalize yuan > Private capital asks 'what bank rescue plan?' > US Treasury stirs bond investors' hope, not action > New banks might be born out of Wall St wreckage > Markets wait for G7 moves on banks, credit, forex > Economies stabilizing or just another false dawn - > Obama's bank rescue plan may not be enough > Junk rating threat to pressure corporate debt costs further
FACTBOXES: > TEXT-Bernanke's testimony to US Congress Feb 10 > FACTBOX-US's Geithner announce plan for financial stability > Global financial regulation reform in focus at G7 > Where has all the US bailout money gone - > US and European bank writedowns and credit losses > Expected emerging market sovereign bond issuance > Global financial crisis sparks social unrest > Federal Reserve statement from Jan 27-28 meeting > US states face daunting budget gaps > What US law on currency manipulation says > US economic challenges facing Obama > Europe's fiscal stimulus plans to tackle economic crisis > The Fed's evolving liquidity toolkit > Fed statement on MBS purchase program > Global interest rates in 2008
Keywords: CREDITCRISIS/TAKEALOOK (New York Treasury Desk +1-646-223-6300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The dollar rose against the yen in choppy trade as the highly anticipated plan unveiled on Tuesday by U.S. Treasury Secretary Timothy Geithner fell short of market expectations and drove up the appeal of safe havens.
U.S. oil prices fell 4.3 percent after the International Energy Agency said global energy demand this year would post its biggest decline since 1982 due to the world's downturn.
MSCI's all-country index fell 0.23 percent, while an index of Europe's leading companies and a pan-Asia index outside of Japan also declined.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Gold jumps on risk aversion, oil slumps > MONEY MARKETS-Dollar 3-month Libor rates inch higher > EMERGING MARKETS-Mexico debt offer weighs on credit market > COMMODITIES-Gold jumps 3.0 percent, other markets down
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > US Congress, White House reach stimulus deal > Wall St chiefs scolded by US lawmakers > Demand in US 10-year note auction soothes some fears > US trade gap shrinks, mortgage applications tumble > ECB policymakers talk up chances of rate cut > EU plans triple summit to tackle economic crisis > Fortis investors reject breakup, BNP deal in doubt > European non-life insurance shines amid slump > Ireland to invest $9 bln in top banks > Bank of England could start quantitative easing - King > UK jobless total rise to 6.3 pct, highest since 1998 > Credit Suisse reports worst full year loss ever > China imports down 43 pct, exports down 17.5 pct in Jan
ANALYSIS RELATED TO CREDIT CRISIS > Latin American banks ride out economic storm > Geithner snub shows banks the key for markets > Expensive East European banks may haunt buyers > Fragile rouble stability depends on oil price, budget > China begins long journey to regionalize yuan > Private capital asks 'what bank rescue plan?' > US Treasury stirs bond investors' hope, not action > New banks might be born out of Wall St wreckage > Markets wait for G7 moves on banks, credit, forex > Economies stabilizing or just another false dawn - > Obama's bank rescue plan may not be enough > Junk rating threat to pressure corporate debt costs further
FACTBOXES: > TEXT-Bernanke's testimony to US Congress Feb 10 > FACTBOX-US's Geithner announce plan for financial stability > Global financial regulation reform in focus at G7 > Where has all the US bailout money gone - > US and European bank writedowns and credit losses > Expected emerging market sovereign bond issuance > Global financial crisis sparks social unrest > Federal Reserve statement from Jan 27-28 meeting > US states face daunting budget gaps > What US law on currency manipulation says > US economic challenges facing Obama > Europe's fiscal stimulus plans to tackle economic crisis > The Fed's evolving liquidity toolkit > Fed statement on MBS purchase program > Global interest rates in 2008
Keywords: CREDITCRISIS/TAKEALOOK (New York Treasury Desk +1-646-223-6300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.