• From The BBC:

    World stock markets have risen after US central bank chief Ben Bernanke said the world’s biggest economy was nearing the start of a recovery.”The prospects for a return to growth in the near term appear good,” Mr Bernanke told a conference in Wyoming. On Wall Street, the Dow Jones index rose more than 1%, while European markets were also sent higher. But the Fed boss said unemployment, which is expected to top 10% in the US, would fall “only gradually”. However, European Central Bank president Jean-Claude Trichet expressed concern at what he saw as premature talk of a full recovery.
    “I am a little bit uneasy when I see that, because we have some green shoots here and there, we are already saying, ‘well, after all, we are close to back to normal’,” he said, speaking later at the conference. ‘Slow at first’Central bankers were speaking as data showed sales of existing US homes rose by more than 7% in July. That was the largest monthly increase in the 10 years that the National Associati…

    Click to read the full article »

    Posted by Jon @ 2:15 pm

Leave a Reply

Your email address will not be published. Required fields are marked *