Global stocks and crude oil rose on Friday after U.S. jobs data and the
long-awaited stress tests on U.S. banks were better than expected, adding to
growing optimism that a slumping U.S. economy is improving.
The surge in equity markets pushed major indexes further into positive territory for the year, with MSCI's all-country index now up 6.4 percent so far in 2009.
The U.S. dollar fell against against the yen and the euro, which surged to a six-week high above $1.36 as the news from the labor market dried up safe-haven flows into the U.S. currency.
Oil rose more than 3 percent to settle above $58 a barrel, close to a six-month high, after data showed U.S. employers cut 539,000 jobs in April -- below the March tally of 663,000 job losses and consensus expectations of 590,000.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-World stocks, oil rally on economic optimism > MONEY MARKETS-US 2-year swap spread widens despite low Libor > EMERGING MARKETS-Stocks, currencies up on US data > COMMODITIES-US jobs data, bank test results support rally
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > US April payrolls fall 539,000; jobless rate rises to 8.9 pct > US banks seek $75 bln; European peers' bad debts soar > US to give GMAC substantial support - Geithner > Morgan Stanley raises $3.5 bln in stock issue > Fannie Mae taps US Treasury again after $23 bln Q1 loss > Buffett's Berkshire has first loss since 2001 > Canada jobs post surprise gain in April > European bank bad debts soar, US banks seeks $75 bln capital > German exports rise in March for first time in 6 months > US banks race to fill $74.6 bln stress test hole > Citi to exchange extra $5.5 bln preferred for common stock > Bank of America needs $33.9 bln, eyes asset and stock sales > Goldman, Morgan Stanley and others seen repaying TARP soon > Rising US Treasury yields may force Fed wallet open wider > Stress test relief seen unlikely to spur lending > Sell in May and go away? Maybe not this year > Citigroup OK for now, may still face trouble > Stress tested US banks may offer new shares > Blistering pace of stock rally raises warning flags > US jobs data a stress test of its own > Union, government control of US automakers seen a risk > Mexico faces deeper recession on swine flu outbreak > China growth seen boosting miners, autos, chemicals > What the Fed is considering at this week's meeting
FACTBOXES > Stress tested banks need combined $74.6 bln capital > Summary of 19 stress-tested banks' capital needs > Full text ECB statement on rates, asset buying > Facts and figures from Obama's budget > US bank stress test capital targets, conditions > Summary of US stress-tested banks' capital needs > Details of Chrysler bankruptcy, restructuring plan > TEXT-G7 communique-April 24 > World government actions to limit bank bad loan damage > Major US financial regulation reform initiatives > Where has all the US bailout money gone - > G20 summit final communique > US Treasury details toxic asset plan > Q&A - How will the US asset clean up plan work - > US Treasury fact sheet on investment program > Federal Reserve statement after March 17-18 meeting
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 surge in equity markets pushed major indexes further into positive territory for the year, with MSCI's all-country index now up 6.4 percent so far in 2009.
The U.S. dollar fell against against the yen and the euro, which surged to a six-week high above $1.36 as the news from the labor market dried up safe-haven flows into the U.S. currency.
Oil rose more than 3 percent to settle above $58 a barrel, close to a six-month high, after data showed U.S. employers cut 539,000 jobs in April -- below the March tally of 663,000 job losses and consensus expectations of 590,000.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-World stocks, oil rally on economic optimism > MONEY MARKETS-US 2-year swap spread widens despite low Libor > EMERGING MARKETS-Stocks, currencies up on US data > COMMODITIES-US jobs data, bank test results support rally
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > US April payrolls fall 539,000; jobless rate rises to 8.9 pct > US banks seek $75 bln; European peers' bad debts soar > US to give GMAC substantial support - Geithner > Morgan Stanley raises $3.5 bln in stock issue > Fannie Mae taps US Treasury again after $23 bln Q1 loss > Buffett's Berkshire has first loss since 2001 > Canada jobs post surprise gain in April > European bank bad debts soar, US banks seeks $75 bln capital > German exports rise in March for first time in 6 months > US banks race to fill $74.6 bln stress test hole > Citi to exchange extra $5.5 bln preferred for common stock > Bank of America needs $33.9 bln, eyes asset and stock sales > Goldman, Morgan Stanley and others seen repaying TARP soon > Rising US Treasury yields may force Fed wallet open wider > Stress test relief seen unlikely to spur lending > Sell in May and go away? Maybe not this year > Citigroup OK for now, may still face trouble > Stress tested US banks may offer new shares > Blistering pace of stock rally raises warning flags > US jobs data a stress test of its own > Union, government control of US automakers seen a risk > Mexico faces deeper recession on swine flu outbreak > China growth seen boosting miners, autos, chemicals > What the Fed is considering at this week's meeting
FACTBOXES > Stress tested banks need combined $74.6 bln capital > Summary of 19 stress-tested banks' capital needs > Full text ECB statement on rates, asset buying > Facts and figures from Obama's budget > US bank stress test capital targets, conditions > Summary of US stress-tested banks' capital needs > Details of Chrysler bankruptcy, restructuring plan > TEXT-G7 communique-April 24 > World government actions to limit bank bad loan damage > Major US financial regulation reform initiatives > Where has all the US bailout money gone - > G20 summit final communique > US Treasury details toxic asset plan > Q&A - How will the US asset clean up plan work - > US Treasury fact sheet on investment program > Federal Reserve statement after March 17-18 meeting
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.