World Leaders Have No Words of Wisdom on Rout Spooking Investors

It’s wiped out more than $8 trillion in the value of global equities, leaving virtually no market unaffected, yet reaction from world leaders so far has ranged from muted to dismissive.

Euro Rises on Upbeat Economic Data

The euro surged to its highest level against the dollar in seven weeks after a run of upbeat European manufacturing and services data.

Euro Loses Most Since July 2012 on ECB Rate-Cut Bets

The euro slid the most in more than a year versus the dollar as weaker-than-forecast economic data for the currency region fueled speculation the European Central Bank will cut interest rates as soon as at its meeting next week.

Euro Rises to Near One-Month High Against Dollar Ahead of FOMC

The euro on Wednesday strengthened against the dollar as traders prepared for the possibility that the Federal Reserve will flag weak U.S. economic data.

Spanish, Italian Bonds Gain as ECB Signals Prolonged Low Rates

Spanish and Italian bonds advanced for a second week after the European Central Bank signaled it will keep interest rates low for longer, boosting demand for higher-yielding euro-area assets.

ECB leaves key rate unchanged

FRANKFURT, Germany (AP) -- European Central Bank head Mario Draghi is reassuring markets that the bank is nowhere near ending its stimulus measures for the weak eurozone economy.

Europe Warns of Harder Economic Times to Come

BRUSSELS — A deteriorating economy in the European Union is expected to drive unemployment to new highs this year in countries including Spain and Portugal that already are feeling acute pain, the Union’s top economics official warned on Friday.

France’s Moscovici Says Strong Euro Creates ‘Some Problems’

French Finance Minister Pierre Moscovici said the strength of the euro is hampering recover in the 17-nation economy, while also reflecting confidence that the region’s debt crisis is fading.

Swiss Re sees 30% risk of Europe, U.S. recession in 2013

LONDON: There is a 30 percent chance of severe recession i n Europe and the United States next year, though moderately rising growth is the likeliest outcome, according to the world's No. 2 reinsurer.

Euro to Hit $1.20 as Crisis Worsens, State Street Says

The euro will probably drop to $1.20 by year-end as Europe’s debt crisis worsens before it improves, according to State Street Corp. (STT), which oversees $16.9 trillion in custody assets.

Euro Drops as Slowing Growth and Elections Damp Demand

The euro slid versus the dollar by the most in almost a month and reached an 11-week low against the yen after further slowing in the region’s economies and before national elections that may result in leadership changes.

U.S. Economy Will Trump Europe In 2012

If there’s one good thing that’s come out of the European debt crisis it’s that the U.S. has been able to shield itself from much of the mess.

Dollar Index Holds Loss Before Confidence, Manufacturing Reports

Dec. 27 (Bloomberg) -- The Dollar Index held losses from last week before U.S. data forecast to show consumer confidence rose to the most since July and regional manufacturing gauges increased, reducing demand for haven assets.

Service Industries in U.S. Probably Expanded at Fastest Pace in Six Months

Service industries in the U.S. probably expanded in November at the fastest pace in six months, a sign the economy is accelerating in the final months of 2011, economists said before a report tomorrow.

Investors to shift focus from Europe to US economy

Encouraging news from Europe helped ignite stock prices in October. This week, investors will shift their focus to U.S. economic data, which might temper their exuberance.

Europe's Debt Crisis Casts Cloud Over U.S. Economy

With all the worry over the ailing U.S. economy, Europe's debt crisis may have seemed a long way off.

But not anymore. The faint tinkle of alarm bells a few months ago are now clanging loudly. What began as a crisis in smaller countries, like Greece, Portugal and Ireland, is now creating serious issues in much larger economies like Italy, France and Germany.

Homebuilders Are Missing Out on the Economic Recovery

By DEREK KRAVITZ, AP Real Estate Writer

WASHINGTON -- For homebuilders, it hardly feels like an economic recovery.

Nearly two years after the recession ended, the pace of construction is inching along at less than half the level considered healthy. Single-family home building, the bulk of the market, has dropped 11% in that time.

Builders are struggling to compete with waves of foreclosures that have forced down prices for previously occupied homes. The weakness is weighing on the economy: Though new homes represent a small portion of overall sales, they have an outsized effect on jobs.

U.S. Unemployment Falls in 39 States in April

By JEANNINE AVERSA, AP Economics Writer

WASHINGTON -- The unemployment rate fell last month in more than three-quarters of nation's states, evidence that companies are feeling more confident about the U.S. economy.

The Labor Department said Friday that the unemployment rate dropped in 39 states in April. That's an improvement from March when 34 states had reported decreases. The rate rose in three states and the District of Columbia. It was unchanged in eight states.

In U.S., Greek and Irish officials put forth plans for economic recovery

By Howard Schneider

Can America's senior citizens rescue the Greek economy? Will Google and other multinationals prop up Ireland?

That's the pitch top officials from the two countries brought to Washington last week as they sought to help their crisis-stricken economies move beyond bailouts and budget-cutting and toward some semblance of recovery.

U.S. Personal Income And Spending Both Rose 0.4% In April

(RTTNews) - U.S. personal income and spending figures released by the Commerce Department on Friday will come as little surprise to most market watchers, with the key benchmarks all increasing in line with economists' expectations.