NA Stock Markets Poised for Positive Open
North American stock markets are poised to open in positive territory this morning as oil prices climbed above $40 a barrel overnight. There is also news that the U.S. government will take on a larger stake in Citigroup and potentially other banks as well. More
Yen Falls on Citigroup News
With speculation growing that the Obama administration will take on a greater stake in individual banks to steady the U.S. financial system, the dollar gained 2 percent on the yen to 94.88 yen as of 7:00 AM New York time. More
Canada’s Retail Sales Drop 5.4% in December
Statistics Canada reported that retail sales for the month of December fell by 5.4 percent in December to $33 billion – this represent the largest single-month decline in 15 years. More
Economists Predict Economy to Worsen in 2009
The National Association for Business Economics (NABE) predicts that the economy will continue to decline in 2009 but could begin to recover in the following year. The NABE also suggested that U.S. unemployment may reach 9 percent this year compared to the current 7.6 percent. More
