Last week, in a widely-anticipated move, the European Central Bank announced that beginning in March it will expand its asset purchase program to €60 billion per month through at least September 2016, for a total purchase of approximately €1.1 trillion.
The exact details of how the program will work have yet to be announced. It’s likely that the ECB felt under such pressure to do something that it was forced to announce the program before all details were finalized. Read more about The Fed Stays the Course, the Market Blinks 01-28-15
European Central Bank officials will meet tomorrow in Frankfurt to set the next course of monetary action. It’s widely expected by analysts and market participants that the decision makers will announce greater new stimulus, likely a major asset purchase program. Read more about Showdown in Frankfurt 01-21-15
Disappointing retail sales figures sent U.S. stocks down for their fourth consecutive down day. The S&P 500 index has declined in 9 of the last 11 sessions. Read more about Retail Weakness Stirs Fears 01-14-15
Today, the S&P 500 finally achieved its first gain of 2015 after declining 4.2 percent in the previous five trading sessions due to renewed worries of a “Grexit” crisis on top of global slowdown concerns. Meanwhile, West Texas Intermediate, the benchmark for U.S. oil, fell another 10 percent in the first week of the new year, dropping through $50 a barrel, to a level unseen since the Great Recession. Read more about The U.S. Holds Firm 01-07-15