Tuesday • May 30
CST 4:04 | EST 5:04 | MST 3:04 | PST 2:04 | GMT 21:04
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This Week in Financial News
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Is a double-dip recession a possibility? And is the stimulus really working? The Cyber Advisor explores those questions, and also looks at the sale of Skype by Ebay, and a massive oil discovery by BP in the Gulf of Mexico.
Episode Segments:
The Week on Wall Street
In todays first segment we hear from two heavy weights in the market. Bill Gross, the legendary bond manager for PIMCO discusses the possibility of a double dip recession and its effects on his portfolio. Then Sam Stovall, chief economist for Standard & Poors gives us their latest earnings projection for the S&P 500. Next comes the weekly recap of the market.
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Interest Rates and Major Oil Discovery
Its around the world, with a look at the Central Banks current positions on interest rates and their economy. Jean-Claude Trichet, the Chairman of the European Central Bank announced their decision on interest rates, they held them unchanged at 1%. Then Qu Hongbein, chief economist at HSBC, discusses the possibility of China raising the lending requirements. Rounding out the group, Holger Schmidting, of Bank of America, Merrill Lynch Europe, discusses the exit strategy for the ECB as it will affect Great Britain. We take a look at the number one story of the week: the massive discover by British Petroleum of oil in the Gulf of Mexico. Preliminary estimates are for this discovery to be at least the size of the North Slope of Alaska.
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Skype Sold!
Why did Ebay sell Skype? John Donahoe, Ebay CEO outlines what he sees ahead for the Webs premier communication system. He tells why now was the right time to sell. Finally, Charles Ortel, Chief Investment Officer of Newport Value Partners gives his take on the Stimulus, and the current state of the Private Sector of the Economy. We think hes right on the money in pointing out that the current Administration may be doing more harm than good.
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