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U.S. Dollar Weakens As Producer Inflation Softens

U.S. Dollar Weakens As Producer Inflation Softens

Reversing direction, the U.S. dollar fell against its major counterparts in the New York session on Friday, as the nation's producer prices unexpectedly edged slightly lower in the month of December.
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U.S. Producer Prices Unexpectedly Edge Slightly Lower In December

U.S. Producer Prices Unexpectedly Edge Slightly Lower In December

Producer prices in the U.S. unexpectedly edged slightly lower in the month of December, according to a report released by the Labor Department on Friday. The Labor Department said its producer price index for final demand slipped by 0.1 percent compared to economist estimates for a 0.1 uptick. The modest decrease in producer prices partly reflected anther steep drop in energy prices.
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Euro Falls On ECB Rate Cut Expectations

Euro Falls On ECB Rate Cut Expectations

The euro weakened against its major counterparts in the European session on Friday, as investors reacted to dovish comments from European Central Bank President Christine Lagarde on possible rate cuts.
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UK Economy Returns To Growth On Services, Production

UK Economy Returns To Growth On Services, Production

The UK economy recovered as expected in November supported by services and production, but the growth was not sufficient to soothe recession fears as even a slight downturn in December will result in two consecutive quarters of contraction. Real gross domestic product expanded 0.3 percent in November, offsetting the 0.3 percent decrease in October, the Office for National Statistics said Friday.
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U.S. Producer Prices Unexpectedly Edge Down 0.1% In December

U.S. Producer Prices Unexpectedly Edge Down 0.1% In December

Producer prices in the U.S. unexpectedly edged slightly lower in the month of December, according to a report released by the Labor Department on Friday. The Labor Department said its producer price index for final demand slipped by 0.1 percent in December, matching a revised dip in November.
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Citigroup Slips To Loss In Q4, But Adj. EPS Tops Estimates

Citigroup Slips To Loss In Q4, But Adj. EPS Tops Estimates

Citigroup Inc. (C) reported Friday a net loss to common shareholders of $2.14 billion or $1.16 per share for the fourth quarter, compared to net income of $2.18 billion or $1.16 per share in the prior-year quarter.
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JPMorgan Q4 Profit Down 15%, But Results Top Estimates

JPMorgan Q4 Profit Down 15%, But Results Top Estimates

US investment bank JPMorgan Chase reported Friday a profit for the fourth quarter that decreased 15 percent from last year, reflecting double-digit net interest income growth, boosted by higher interest rates. Both adjusted earnings per share and revenues for the quarter topped analysts' expectations.
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Bank Of America Q4 Profit Plunges, But Tops Estimates

Bank Of America Q4 Profit Plunges, But Tops Estimates

Bank of America Corp. (BAC) reported Friday that net income applicable to common shareholders for the fourth quarter plunged to $2.84 billion or $0.35 per share from $6.90 billion or $0.85 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was $0.70 per share.
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European Shares Rally On Rate Cut Expectations

European Shares Rally On Rate Cut Expectations

European stocks advanced on Friday, following dovish comments from European Central Bank (ECB) President Christine Lagarde who said the central bank will start lowering rates once inflation heads back to the 2 percent goal.
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