Home prices drop by record rate

January 28, 2009 | Comments Off

More bad news came for the real estate market on Tuesday (January 27) as President Obama visited with leaders in the GOP to discuss details of his new economic stimulus plan. According to the national Case-Shiller home index that monitors home price movement in 20 of the largest US metropolitan markets, the annual price drop during November was 18.2 per cent from last year’s November. This marks the largest annual rate drop in any month since the index started. Read more

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Gold up, Euro down

January 26, 2009 | Comments Off

Gold rose for the eighth consecutive year against the dollar in 2008. Thanks to an unstable economy and a zero per cent interest-rate policy established by the Fed following several rate cuts during the year, more and more speculators turned to the safe money bet (gold) in exchange for dollars. Read more

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Tech saves stocks from retail woe

January 26, 2009 | Comments Off

With retailers continuing to struggle through the holiday season and into the New Year, investors have recently begun placing their bets that technology stocks may help hold the market from more steep declines. Circuit City’s announcement that it was closing its remaining 567 stores in the US and liquidating was good news for some of its competitors, but bad news for the retail sector already facing tough economic times. Read more

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Plans for $350 billion in bailout money

January 14, 2009 | Comments Off

The last days of the Bush Administration are not going quietly, even though President Bush is looking to incoming President Barack Obama to dictate some key moves. In particular, Bush sought direction for his successor on the next step in the process for stimulating the economy using the remaining $350 billion of government bailout money. Read more

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Gold Falls Through “Major Support”

January 12, 2009 | Comments Off

THE PRICE OF GOLD sank ahead of the US opening on Monday, dropping $20 in 20 minutes of London trade to bounce off $825 an ounce. Read more

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Pending home sales fall in November

January 7, 2009 | Comments Off

Tuesday (January 6) brought a barrage of important economic news. It was a mixed bag as Americans and investors watched for signs of a potential 2009 economic rebound. The reading of the Fed minutes that led to the ¾ point rate cut in December was a big concern. It indicated that 2009 could see a deepening recession and some data suggests jobs performance could get worse into 2010. Read more

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Gold Slips on Dollar Bounce

January 6, 2009 | Comments Off

THE PRICE OF GOLD fell further in London on Tuesday morning, sliding 2.2% from Monday’s US close to hit $840 an ounce – its lowest Dollar-level since Christmas Eve. Read more

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Euro dips as 2009 expectations weaken

January 2, 2009 | Comments Off

The Euro slid back below $1.40 in New Year’s Day trade as some analysts predict a dramatic slump for the European Union currency in 2009. Italy has announced that it may look to get out of its tie to the Euro as its currency of use if regulations continue that restrict the country’s control over money flow. The possibility of a lost member of the Union caused speculators to drive the Euro back below $1.39 in mid-day Asian trade after it opened New York near $1.42 Thursday morning. Read more

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