Stocks fall after consumer spending remains weak

Stock futures sharply lower, interest rates tumble on concerns about economic slowdown
NEW YORK — Stock futures and Interest Rates tumbled Tuesday after fresh signs of a Global economic slowdown spooked investors. Asian Markets tumbled overnight when Japanese data showed its country's recovery slowed and China's Market was hurt by an initial public offering that pulled investors away from the rest of the Market. European indexes opened sharply lower after Greek workers again walked out of their jobs to Protest steep Budget cuts. Interest Rates fell in the Bond Market as...

Stock futures point to higher opening for the week after G20 pledges to cut budget deficits
NEW YORK — Stock futures are pointing to a higher opening Monday after members of the Group of 20 nations pledged to Cut Budget Deficits. The modest gains come ahead of a big week of domestic economic data as well, culminating with the key monthly jobs report due out Friday. Investors will want to see Private Sector job growth because any signs of hiring would likely add confidence that The Economy is improving. Economic reports in recent months have painted a mixed picture about the...

Stocks in narrow range after G20 agrees to cut deficits; consumer spending inches higher
NEW YORK — Stocks are trading in a narrow range as Consumers remain tentative about Spending and the Group of 20 nations pledged to Cut Budget Deficits. The lack of any major moves comes ahead of a big week of domestic economic data, culminating with the monthly jobs report. A report Monday shows Consumers are still nervous about Spending as Unemployment remains high. Industrialized countries among the G20 have said they will Cut Deficits in half by 2013. However, they have not agreed...

Stocks plunge on global jitters
NEW YORK (CNNMoney.com) -- Stocks plunged at the open Tuesday, following a sharp drop in Asian shares overnight, amid concerns about the outlook for the Global Economy. Dow Jones industrial average ( INDU ) dropped 197 points, or 1.9%, in the first 22 minutes of trading. The S&P 500 ( SPX ) slid 22 points, or 2.1%, and the NASDAQ ( COMP ) Composite fell 58 points, or 2.6%. Stocks ended a choppy session slightly lower Monday after world leaders pledged to cut public Deficits over the next...

POLITICAL HOT TOPICS: Tuesday, June 29, 2010
From CNN's Leslie Bentz The CNN Washington Bureau's morning speed read of the top stories making news from around the country and the world. Washington/POLITICAL For the latest political news: www.CNNPolitics.com CNN: Senators often Talk past Kagan on opening day of Confirmation Hearing Elena Kagan was the nominee at her Confirmation Hearing Monday for the Supreme Court, but you would not be faulted for believing the Real spotlight was on those not attending- the conservative...

Stocks are mixed; financials rise on bank overhaul
NEW YORK — The Stock Market was mixed Friday after a disappointing gross domestic product reading added to investors' Discomfort about the strength of the Economic Recovery. Financial shares rose on relief that a banking overhaul bill is in hand. The government said the GDP, the broadest measure of The Economy's health, rose at a 2.7 percent annual pace in the first quarter, rather than the 3 percent previously estimated. The report follows a string of weaker-than-expected Economic...

Consumer Confidence Index tumbles almost 10 points as worries about jobs, recovery flare
NEW YORK — Americans, worried about Jobs and the sluggish Economic Recovery, had another relapse in Confidence, causing a widely watched barometer to tumble in June. The Conference Board, a private research group based in New York, said Tuesday that its Consumer Confidence Index dropped almost 10 points to 52.9, down from the revised 62.7 in May. Economists surveyed by Thomson Reuters had been expecting the reading to dip slightly to 62.8. June's reading marked the biggest drop since...

Obama vs. the Allies
Rich Lowry A specter is haunting the world: the specter of Canada. To hear President Obama's supporters tell it, Canadian Prime Minister Stephen Harper is a one-man economic wrecking crew. He led the charge at the G-8 Summit to endorse the goal of advanced nations cutting their Deficits in half by 2013. Obama only reluctantly went along, warning of the ill effects of what the intellectual architects of his Stimulus package plaintively call "premature Austerity." This dreaded Austerity has...

Read the Group of 20's final statement
T HE G-20 Toronto SUMMIT DECLARATION June 26-27, 2010 Preamble 1. In Toronto, we held our first Summit of the G-20 in its new capacity as the premier forum for our International Economic cooperation. 2. Building on our achievements in addressing the Global ~#~3~#~ Crisis, we have agreed on the next steps we should take to ensure a full return to Growth with quality Jobs, to Reform and strengthen Financial Systems, and to create strong, sustainable and balanced Global Growth. 3. Our efforts...

Stocks mixed with spending up
NEW YORK, June 28 (UPI) -- U.S. stocks were mixed Monday after the Commerce Department said Consumer Spending rose modestly in May. After lying flat a month ago, Spending among Consumers rose 0.2 percent in May, while incomes rose 0.4 percent and prices declined less than 0.1 percent. The Group of 20 summit ended Sunday with world leaders pledging to reduce government Debt. Contrary to G20 meeting a year ago, when Stimulus Spending was the order of the day, leaders in Toronto agreed to reduce...

Asian stock markets post muted gains as investors await new cues following flat Wall Street
Bangkok — Asian stock markets mostly posted muted gains Monday as investors searched for fresh cues after a flat session on Wall Street and a pledge by world leaders to reduce Budget Deficits. In a final statement from the top 20 industrial and developing nations at their weekend summit in Toronto, leaders endorsed a pledge by rich nations to slash Budget Deficits in half in three years. The Deficit-cutting goal, however, was accompanied by concerns that cutting Stimulus spending too...

Stocks eye jobs amid economic worries
NEW YORK (Reuters) – Stock investors will anxiously await the crucial June Jobs data this week for clues on how the U.S. economy may weather recent storms that drove Wall Street 's major indexes down for the year. Friday's Jobs report will wrap up a week packed with economic data , including Consumer Confidence and Pending Home Sales. The week's steady stream of numbers will include some early earnings reports. Non-farm Payrolls are forecast to shed 110,000 Jobs in June,...

Stock index futures signal sharp losses
(Reuters) - Stock index futures pointed to a sharply lower open on Wall Street on Tuesday, with futures for the S&P 500 down 1.4 percent, Dow Jones futures down 1.1 percent and NASDAQ 100 futures down 1.4 percent at 0930 GMT. * European stocks tumbled in morning trade, knocked lower by renewed fears over funding in the Euro zone ahead of Bank repayments to the European Central Bank this week. Banks must repay 442 Billion Euros ($545.5 Billion) to the ECB on Thursday, leaving a potential...

Savings rate grows faster than consumer spending
Americans socked away more savings in May than at any time since September, as they continued to be cautious spenders, according to government data released Monday. According to the Commerce Department, the Personal savings rate in May -- the part of every paycheck that goes unspent -- rose to 4 percent, the highest amount in nearly a year, as worried Consumers saw stocks tumble in the United States and Debt problems spread across Europe. Though virtuous, an increase in Personal savings creates...

Stocks poised to drop
LONDON

Dow Sinks Below 10,000 on China, Economic Worries
As expected, U.S Stock Markets stumbled at the open with the Dow Jones Industrial Average already below the 10,000 mark. The Dow fell some 235 points around 10:07 a.m. to 9,912 -- a slide of over 2.2%. Meanwhile, the S&P 500 and the NASDAQ Composite are sliding even more. The S&P 500 dropped nearly 2.4% and the NASDAQ skidded nearly 3%. It all started with jitters over China and global Economic Growth . China's Conference Board revised its April leading Economic indicator sharply...

Stock futures tumble on global economic worries
NEW YORK (AP) - Stock futures and Interest Rates are tumbling after fresh signs of a global economic slowdown spooked investors. Asian markets have plummeted Tuesday on weak Japanese economic data. European markets are falling after Greek workers are again protesting Austerity measures. The yield on the 10-year Treasury note is down below 3 percent for the first time since April 2009. Investor worry about The Economy has spread to Consumers. A report due out Tuesday is expected to show...

Bank stocks soar on financial regulation agreement
By TIM PARADIS (AP) NEW YORK - Bank Stocks shot higher Friday after an agreement on a Financial Regulation bill reassured investors that new rules won't devastate Financial companies' profits. Banks outdistanced the rest of the Market after congressional negotiators agreed on a bill that increases the Regulation of Financial companies, but that doesn't include some of the harshest provisions that the government originally proposed. The Legislation imposes new rules on the complex investments...

Bank stocks soar on financial regulation agreement
NEW YORK — Bank Stocks shot higher Friday after an agreement on a Financial Regulation bill reassured investors that new rules won't devastate Financial companies' profits. Banks outdistanced the rest of the Market after congressional negotiators agreed on a bill that increases the Regulation of Financial companies, but that doesn't include some of the harshest provisions that the government originally proposed. The Legislation imposes new rules on the complex investments known as...

Stock futures tumble on global economic worries
NEW YORK (AP) - Stock futures and Interest Rates are tumbling after fresh signs of a global economic slowdown spooked investors. Asian markets have plummeted Tuesday on weak Japanese economic data. European markets are falling after Greek workers are again protesting Austerity measures. The yield on the 10-year Treasury note is down below 3 percent for the first time since April 2009. Investor worry about The Economy has spread to Consumers. A report due out Tuesday is expected to show...

Asian stocks slide ahead of crucial Japan business survey, US jobs data; China off 3.3 percent
Bangkok — Asian markets slid Tuesday as a mammoth share sale in China dragged Shanghai stocks down more than 3 percent and investors trimmed bets before the release of crucial indicators from the world's two biggest economies. Investors were wary of riskier assets like stocks following a fall on Wall Street Monday and dour Japanese Economic data that could foreshadow weaker business confidence when the Bank of Japan's "tankan" survey is released on Thursday. Markets are also jittery...

Clashes break out at Greek protest
Clashes have broken out between demonstrators and Police at a Protest against Government Spending cuts in Athens, the Greek capital. Riot Police fired Tear Gas at Activists chanting "burn parliament" on Tuesday, just hours before politicians were to begin debating a Pension Reform to tackle the nation's Debt crisis. Dozens of masked youths threw chunks of marble and petrol bombs, and set rubbish bins on fire, while running clashes continued along a major avenue lined with shuttered...

Opening Bell: 06.29.10
Banks Financing Mexico Drug Gangs Admitted in Wells Fargo Deal (Bloomberg Markets Magazine) Just before sunset on April 10, 2006, a DC-9 jet landed at the International Airport in the port City of Ciudad del Carmen, 500 miles east of Mexico City. As Soldiers on the ground approached the plane, the crew tried to shoo them away, saying there was a dangerous oil leak. So the Troops grew suspicious and searched the jet. They found 128 black suitcases, packed with 5.7 tons of Cocaine, valued at...

Why Obama is Sabotaging U.S. Economic Growth
They do not want the United States of America to drive Global Growth anymore. If the Financial Reform Bill passes, the bad Wall Street will win, the good Wall Street will not. And investors and American

Stocks Rise as Court Ruling Lifts Tobacco Shares
The Dow Jones industrial average rose about 30 points in morning trading. Broader indexes also rose. Treasury prices rose, sending Interest Rates lower, as overall concerns remained about The Economy. The government said Consumer Spending rose 0.2 percent last month, just above the 0.1 percent growth forecast by Economists surveyed by Thomson Reuters . Growth was slow, although Personal Income rose 0.4 percent. A bigger jump in Income than Spending means Consumers are still unsure about...