Archive for Jennifer Yousfi
Jennifer Yousfi is the Managing Editor of Money Morning.Weak Labor Market and Slowing Retail Sales Put U.S. Stocks in a Tailspin
The U.S. markets took a beating yesterday (Thursday) as retail sales sputtered and jobless claims surged. At the New York close, the blue-chip Dow Jones Industrial Average Index had posted a loss of 344.65 points (-2.99%), to trade at 11,188.23. The tech-laden Nasdaq Composite Index dropped 74.69 points (-3.20%), to reach 2,259.04. And the broader Standard & Poor’s 500 Index lost 38.16 points (-2.99%), to settle at 1,236.82.
These Two Luxury Brands Are Most Likely to Weather Downturn
Luxury brands are having finding the going tough under the current economic conditions in the U.S., says Jennifer Yousfi in Money Morning. And the slowdown in Europe is putting further pressure on the sector. Here Jennifer recommends two luxury brands that are likely to weather the global downturn…
Chrysler Considers Sale of Gas-Guzzling Viper
With the U.S. auto market increasingly focused on practicality and fuel-efficiency, Chrysler LLC announced yesterday (Wednesday) it was entertaining offers for its Dodge Viper sports car.
Fed Signals Rate Hike for Next Move, But Timing Uncertain
The next move from the U.S. Federal Reserve will be to increase the Federal Funds rate, although the timing of that hike remains to be decided.“A number of participants worried about the possibility that core inflation might fail to moderate next year unless the stance of monetary policy was tightened sooner than currently anticipated by financial markets,” according to the minutes of the Federal Open Market Committee’s Aug. 5 meeting released yesterday (Tuesday).
Korea’s Government Nixes Possible Lehman Bros. Bid
Shares of Lehman Bros. Holdings Inc. (LEH) deflated yesterday (Monday) after hopes of a bailout bid from a Korean bank dissipated.
Korea’s KDB Could Prove to Be Lehman Bros. (LEH) Savior
Battered shares of Lehman Bros. Holdings Inc. (LEH) got a reprieve when Korea Development Bank expressed interest in a possible capital infusion, sending the stock up almost 10% in early trading.
‘Encouraging’ Economic Outlook from Bernanke and Buffett Boost U.S. Markets
U.S. markets rallied yesteraday, as soothing comments from two of the most influential minds in finance combined to assuage investor fear and push indices higher, says Jennifer Yousfi in Money Morning.
Lone Star Funds Gets a Bargain on Distressed German Bank IKB
Yesterday, U.S. private-equity firm Lone Star Funds announced it would buy a majority stake in Germany’s IKB Deutsche Industriebank AG for one-fifth of the original asking price. The deal is a bargain for Lone Star, says Jennifer Yousfi in Money Morning…
Monsanto Sells Milk-Hormone Unit to Focus on Seed Product Lines
Monsanto Co. (MON), the world’s largest seed producer, is selling off its rights to a synthetic milk-producing hormone in order to focus its attention more closely on its core business of developing genetically modified seeds and pesticides. U.S. pharmaceutical company Eli Lilly & Co. (LLY) will pay Monsanto $300 million for Posilac, the brand name for recombinant bovine somatotropin or rBST. The deal includes the global sale rights and a Georgia-based manufacturing plant.
Stagflation Tightens Its Grip on U.S. Economy
U.S. companies were hit with the largest annual jump in wholesale prices in 27 years during July. Housing starts dropped to their lowest level in 17 years. The indicators are that ruinous stagflation is tightening its grip on the U.S. economy for the first time in decades, says Jennifer Yousfi in Money Morning…
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