Thursday, February 23, 2012

Morning roundup: U.S. economy improving, Europe headed for recession

Here's a look at today's banking and finance headlines:

  • Dallas Federal Reserve President Richard Fisher said the U.S. economy is improving and that another round of central bond buying isn't necessary, Reuters reports.
  • JPMorgan Chase & Co. has more than tripled its holdings of mortgage securities without U.S. government guarantees, representing a multibillion-dollar bet on on homeowners, Bloomberg reports.
  • The European Union lowered its growth forecast for the year and warned that the euro zone would fall into a "mild recession," the New York Times writes.
  • Stocks opened lower this morning as Hewlett-Packard announced its first-quarter revenue fell short and first-time jobless claims held steady, the Wall Street Journal reports. Technology and industrial sales led the U.S. markets lower.