Three key U.S. housing reports to be released Wednesday are expected to show small improvements in the market, and the Federal Reserve's third round of quantitative easing, or QE3, could accelerate the recovery by boosting demand in coming months, according to industry sources.
FedEx's forecast cut, signs of stagnation in Germany, drop in oil price and looming political tensions spell trouble for the global economy.
It's that time of the year when retailers operating in the U.S. begin dribbling out statistics on holiday hires, a closely watched batch of communications considered an important economic indicator.
Mamata Banerjee, the chief minister of the state of West Bengal, declared that her party, the All India Trinamool Congress -- currently the second-largest segment of the ruling United Progressive Alliance (UPA) coalition -- could no longer cooperate with the UPA.
Car sales fell 8.9 percent in Europe in August, with Germany's activity dropping 4.7 percent, according to the European Automobile Manufacturers' Association. Ford Motor Co. (NYSE:F) had the worst month, with a nearly one-third drop in sales.
Financial markets yawned Monday in the face of an anemic U.S. manufacturing report from the Federal Reserve Bank of New York that showed industrial production in the Northeast falling to a nearly two-year low.
The continued weakness of the global economy will probably keep U.S.manufacturing purchasing managers indexes at low levels in September. Meanwhile, economists expect August's housing data to indicate the recovery in that sector remains intact.