News that No. 4 U.S. bank Wells Fargo will report record first-quarter
earnings sparked a rally on Wall Street and lifted the dollar on Thursday on
hopes a sector that sparked the global financial crisis is healing.
Oil prices rose almost 6.0 percent, fueled by the equity rally and by data that showed the number of American workers filing new claims for unemployment benefits fell last week.
U.S. Treasury debt prices fell in an abbreviated session before the Easter weekend and U.S. gold futures finished with modest losses as rising expectations that economic recovery was on the horizon hurt the appeal of traditional safe-havens.
The rally in global stocks capped a fifth straight week of gains among the major U.S. stock indexes, including the Dow and and S&P 500, and MSCI's world equity index.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Wall Street, US dollar gain on bank hopes > MONEY MARKETS-Interbank costs fall, no bids at Fed auction > EMERGING MARKETS-Stocks rise in Asia, Moldova simmers
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > Wells Fargo surprises US market with record Q1 profit > US jobless claims ease, trade gap narrows sharply > US retailers March sales fall, late Easter blamed > US economic freefall seen ending in months - Summers > Obama to hold meeting Friday on bank stress tests > Canada job losses worst since 1982 recession > Canada new home prices fall in Feb > Bank of England holds rates, continues quantitative easing > Germany and Italy lead eurozone production slump > Swedish, Finnish industrial output falls again in Feb > Trichet hints at ECB rate cut, Nowotny at buying bonds > India's factory output falls, but recovery signs seen > Japan plans $154 bln stimulus, record bond sales
ANALYSIS RELATED TO GLOBAL ECONOMIC CRISIS > China's export engine shows signs of life > Obama's economic dilemma: Spend or save - > Bank tests could put US Treasury in tough spot > Japan pension fund moves may hit stocks, JGBs, buoy yen > Investors turn the table on hedge fund fees, terms > Bondholders may bounce back in fight with private equity > Arresting the freefall in global trade > IMF boost to widen split in emerging economies > China convertible bond market flourishes in crisis > Toxic assets missing from G20 bank action plan > Who will lead world economy out of recession? US or China -
FACTBOXES > US banks line up to repay TARP money > US faces potential $10.9 trln economic rescue bill > ECB statement on providing liquidity to US banks > Japan to unveil new $100 bln stimulus Friday > What is the $1 trillion in new G20 financing - > G20 summit final communique > Key Obama financial regulation proposals > How might the SDR become a super reserve currency > US Treasury details toxic asset plan > Q&A - How will the US asset clean up plan work - > US Treasury fact sheet on investment program > IMF emergency loan programmes in past six months > Federal Reserve statement after March 17-18 meeting > Bank of Japan on subordinated loans to banks > Central banks turn to new measures to help economies > Where has all the US bailout money gone -
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.
Oil prices rose almost 6.0 percent, fueled by the equity rally and by data that showed the number of American workers filing new claims for unemployment benefits fell last week.
U.S. Treasury debt prices fell in an abbreviated session before the Easter weekend and U.S. gold futures finished with modest losses as rising expectations that economic recovery was on the horizon hurt the appeal of traditional safe-havens.
The rally in global stocks capped a fifth straight week of gains among the major U.S. stock indexes, including the Dow and and S&P 500, and MSCI's world equity index.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Wall Street, US dollar gain on bank hopes > MONEY MARKETS-Interbank costs fall, no bids at Fed auction > EMERGING MARKETS-Stocks rise in Asia, Moldova simmers
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > Wells Fargo surprises US market with record Q1 profit > US jobless claims ease, trade gap narrows sharply > US retailers March sales fall, late Easter blamed > US economic freefall seen ending in months - Summers > Obama to hold meeting Friday on bank stress tests > Canada job losses worst since 1982 recession > Canada new home prices fall in Feb > Bank of England holds rates, continues quantitative easing > Germany and Italy lead eurozone production slump > Swedish, Finnish industrial output falls again in Feb > Trichet hints at ECB rate cut, Nowotny at buying bonds > India's factory output falls, but recovery signs seen > Japan plans $154 bln stimulus, record bond sales
ANALYSIS RELATED TO GLOBAL ECONOMIC CRISIS > China's export engine shows signs of life > Obama's economic dilemma: Spend or save - > Bank tests could put US Treasury in tough spot > Japan pension fund moves may hit stocks, JGBs, buoy yen > Investors turn the table on hedge fund fees, terms > Bondholders may bounce back in fight with private equity > Arresting the freefall in global trade > IMF boost to widen split in emerging economies > China convertible bond market flourishes in crisis > Toxic assets missing from G20 bank action plan > Who will lead world economy out of recession? US or China -
FACTBOXES > US banks line up to repay TARP money > US faces potential $10.9 trln economic rescue bill > ECB statement on providing liquidity to US banks > Japan to unveil new $100 bln stimulus Friday > What is the $1 trillion in new G20 financing - > G20 summit final communique > Key Obama financial regulation proposals > How might the SDR become a super reserve currency > US Treasury details toxic asset plan > Q&A - How will the US asset clean up plan work - > US Treasury fact sheet on investment program > IMF emergency loan programmes in past six months > Federal Reserve statement after March 17-18 meeting > Bank of Japan on subordinated loans to banks > Central banks turn to new measures to help economies > Where has all the US bailout money gone -
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.