Stocks on the Dow gained Friday. But the Dow average closed lower for the week, which turned out to be tumultuous for stocks.
Currency markets reversed some of the gains of the yen after the G-7 announced that they would intervene to reduce the value of the yen. The Japanese currency lost nearly two yen against the dollar on currency markets.
Stock market futures, after Wednesday's big sell-off, move higher with brighter unemployment report.
The Group of 20 faces a lot of heat each time it gathers. Streets swell with protesters and clashes with police often end in property damage and violence. But the contention doesn’t end at the doors to the meeting rooms. Within the G20, there are some significant divides on key trade issues.
China and other leading nations say they view the Fed’s move to buy up $600 billion in US Treasury bonds, on top of earlier purchases, as timed to put them on the defensive at the G20 summit in Seoul.
As competing agendas descend upon Toronto for this weekend’s G20 summit, the so-called BRIC countries expect to get an equal voice, but less-developed countries remain concerned about being heard.
The US and the West need vigorous economic growth. In order to to that, the US must first reduce the tax and debt burdens of unsustainable entitlement programs such as Social Security and Medicare.