This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stocks Recover After Japan Drop Rattles Traders

Markets have been uneasy since Fed chairman Ben Bernanke said the U.S. central bank might pull back on its $85 billion-a-month bond-buying program â¿¿ known as quantitative easing â¿¿ if U.S. economic data, especially hiring, improve.

Investors expect a reduction in the Fed's asset purchases later this year. Such stimulus has been a key driver of the rally in stock markets and other asset prices. Analysts say markets are looking ahead to next week's Fed policy meeting for more guidance on the scale and timing of any reductions.

"The markets now appear to be in panic mode over the prospect of a tapering of QE3 in the U.S., even though the Fed itself has stressed that monetary policy would remain 'highly accommodative'," said economist Julian Jessop of Capital Economics in a report.

Sentiment about China has turned pessimistic after May exports and retail sales weakened, fueling concern the recovery for the world's second-largest economy might be stalling.

News reports said Eurozone finance ministers were due to meet Friday in Rome to discuss possible support for banks. The Wall Street Journal said that might include agreement on using up to 60 billion euros to rescue financial institutions.

"Such a deal would likely be viewed as positive as other components of the banking union will take a long time before they are implemented in full," said Credit Agricole CIB's Kotecha.

In currency markets, the euro rose to $1.3348 from $1.3345 late Thursday in New York. The dollar rose to 94.96 yen from 94.87 yen.

Benchmark oil for July delivery rose 5 cents to $96.74 after gaining 81 cents on Thursday on improved U.S. economic data.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs