U.S. stocks rebounded in a late-day surge on Friday on a report that Lloyds
had agreed to a British asset protection program, while oil surged on a
potential OPEC output cut.
Crude settled more than 4 percent higher as expectations the Organization of Petroleum Exporting Countries could reduce output again outweighed a weak U.S. jobs report that initially sent investors scurrying to safe havens. For details, see
The dollar fell against the euro, with investors emboldened to lock in recent gains and pare safe-haven currency trades after some investors decided the U.S. job losses were not as severe as many had feared.
Because the jobs number was largely in line with consensus estimates, a semblance of risk appetite returned 'so the dollar has come off against the euro,' said Richard Franulovich, senior currency strategist at Westpac Banking Corp in New York.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-US stocks rebound on Lloyds bank report > MONEY MARKETS-US dollar 3-month Libor rates rise > EMERGING MARKETS-Latam forex gains on commodities, stocks off > COMMODITIES-Markets rise as dollar falls despite US job data
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > US consumer credit rises $1.76 bln in Jan - Fed > Deleverageing still far from over - NY Fed's Dudley > Wells Fargo cuts dividend 85 pct > US jobless rate hits 25 year high, Feb payrolls fall 651,000 > Brazil output slumps in Jan, joining BRIC slowdown > China sees signs of economy recovering > US House approves mortgage bankruptcy overhaul > Fed lends more to US banks but less to dealers
ANALYSIS RELATED TO CREDIT CRISIS > Equities outlook shifts as bear market deepens > Private equity writedowns threaten ailing firms > Even stock market bears looking for an end to sell off > Lure of riskier debt may spoil record corporate bond run > China expresses confidence but remain quiet on extra spending > China bankruptcies create cracks in global supply chain > Nikkei in danger zone, weakening yen won't help > Investors fret over GE Capital as GE stock slides > Brazil may ease fiscal discipline > Opportunity knocks for Japan in crisis
FACTBOXES: > US faces potential $10.9 trln economic rescue bill > Where has all the US bailout money gone - > US mortgage modification plan eligibility > Federal Reserve statement on launching TALF > Text of Bank of Canada statement on interest rates > Joint US Treasury/Federal Reserve statement on AIG > AIG's progress on asset sales > Text of US Treasury announcement on Citigroup > White House U.S. budget forecasts > Obama lays out domestic economic agenda > Central banks turn to new measures to help economies > Latin American refinancing needs, options > How the financial crisis is affecting Eastern Europe
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.
Crude settled more than 4 percent higher as expectations the Organization of Petroleum Exporting Countries could reduce output again outweighed a weak U.S. jobs report that initially sent investors scurrying to safe havens. For details, see
The dollar fell against the euro, with investors emboldened to lock in recent gains and pare safe-haven currency trades after some investors decided the U.S. job losses were not as severe as many had feared.
Because the jobs number was largely in line with consensus estimates, a semblance of risk appetite returned 'so the dollar has come off against the euro,' said Richard Franulovich, senior currency strategist at Westpac Banking Corp in New York.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-US stocks rebound on Lloyds bank report > MONEY MARKETS-US dollar 3-month Libor rates rise > EMERGING MARKETS-Latam forex gains on commodities, stocks off > COMMODITIES-Markets rise as dollar falls despite US job data
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > US consumer credit rises $1.76 bln in Jan - Fed > Deleverageing still far from over - NY Fed's Dudley > Wells Fargo cuts dividend 85 pct > US jobless rate hits 25 year high, Feb payrolls fall 651,000 > Brazil output slumps in Jan, joining BRIC slowdown > China sees signs of economy recovering > US House approves mortgage bankruptcy overhaul > Fed lends more to US banks but less to dealers
ANALYSIS RELATED TO CREDIT CRISIS > Equities outlook shifts as bear market deepens > Private equity writedowns threaten ailing firms > Even stock market bears looking for an end to sell off > Lure of riskier debt may spoil record corporate bond run > China expresses confidence but remain quiet on extra spending > China bankruptcies create cracks in global supply chain > Nikkei in danger zone, weakening yen won't help > Investors fret over GE Capital as GE stock slides > Brazil may ease fiscal discipline > Opportunity knocks for Japan in crisis
FACTBOXES: > US faces potential $10.9 trln economic rescue bill > Where has all the US bailout money gone - > US mortgage modification plan eligibility > Federal Reserve statement on launching TALF > Text of Bank of Canada statement on interest rates > Joint US Treasury/Federal Reserve statement on AIG > AIG's progress on asset sales > Text of US Treasury announcement on Citigroup > White House U.S. budget forecasts > Obama lays out domestic economic agenda > Central banks turn to new measures to help economies > Latin American refinancing needs, options > How the financial crisis is affecting Eastern Europe
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.