Euro Gains Favor Over Dollar
Demand for the euro has increased significantly since the US government and the federal reserve adopted a policy of quantitative easing to boost the economy. US government spending is expected to add more than $2 trillion to natinal debt which is forecast to pass $12 trillion next year. More
Stock Futures Increase Ahead of Geithner’s Announcement
Stock market index futures jumped overnight with bank and financial stocks leading the way. US Treasury Secretary Timothy Geithner is expected to provide more details on the governments much-anticipated plan to relieve banks of toxic assets and provide more liquidity for the US economy. More
Oil Prices Continue to Climb
Buoyed by today’s announcement providing more detail on the US Treasury Department’s bank rescue plan, investors hope to see a subsequent increase in oil prices. In London, futures Brent North Sea crude for May delivery rose to $52.50 a barrel – the highest price since January. More
Canadian Oil Giants Plan Merger
Suncor Energy and Petro-Canada – two of Canada’s largest companies active in the Canadian “oil patch” – have announced a tentative merger that will create a new company with a market capitalization worth more than CA$43 billion (US$35 billion). More
