IMF Cuts Economic Outlook, US Shares Off on Monday (C, MSFT)

On Monday the IMF lowered its growth forecast and warned about the risks of insufficient and slow policy action in the eurozone. The outlook for global economic growth for 2013 dropped down to 3.9% from 4.1%. A report was released that announced retail sales fell again in the month of June. In corporate news, Citigroup's (C) quarterly earnings declined but not as much as was expected. Visa (V) and Mastercard (MA) agreed to move towards a settlement of previous price-fixing allegations.
US bond yields were close to record lows and the dollar fell to a one-month low against the Japanese yen.

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Published on Jul 16, 2012
By InvestorGuide Staff

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