Tag: federal-reserve
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Wall Street stands with two Fed-hike outlook for 2017: Reuters poll
Wall Street's top banks expect just two rate hikes from the Federal Reserve this year and see only modest risk to the U.S. central bank being pressed into a more aggressive pace of monetary policy tightening, a Reuters poll showed on Friday. The poll of primary dealers – the 23 banks that do business directly…
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Warren Buffett: I bought $12 billion of stock after Trump won
Buffett revealed that he has bought $12 billion of stock for his company Berkshire Hathaway Inc since the Republican Donald Trump beat Democrat Hillary Clinton in the Nov. 8 U.S. presidential election. In an interview with talk show host Charlie Rose that aired on Friday night, Buffett suggested that Berkshire's post-election stock purchases overall were…
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Wall Street sells off on weak earnings, election fears
Illumina shares plummeted 24.8 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update. Although overall S&P 500 earnings are currently expected to fall 0.7 percent in the third quarter, according to Thomson Reuters data, a typical number of better-than-expected reports would result in a positive quarter.…
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Wall Street rallies as Fed holds fire on rates
NEW YORK (Reuters) – Wall Street racked up gains on Wednesday, and the Nasdaq closed at a record high, after the U.S. Federal Reserve kept interest rates unchanged, for now leaving intact the low-rate environment that has helped underpin the bull market.
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Wells Fargo faces proposed class action over bogus accounts
Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank of fraud and recklessness for its behavior. The lawsuit was filed in the U.S. District Court in Utah, and seeks class-action status on behalf of hundreds of thousands of customers nationwide.
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White House says it sees a path to approval of Pacific trade deal
The White House said on Monday it could still win congressional approval of the Trans-Pacific Partnership trade pact before President Barack Obama leaves office, and warned that failing to do so would undermine U.S. leadership in the region. “The president is going to make a strong case that we have made progress and there is…
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Wall Street slips in wake of comments by top Fed officials
U.S. stocks ended modestly lower after a volatile session on Friday, having bounced between gains and losses as investors wrestled with the likely timing of a U.S. interest rate hike following comments from top Federal Reserve officials. The S&P 500 rose after Fed Chair Janet Yellen said the case for raising rates had strengthened but…
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Weak U.S. retail sales, inflation data dim prospect of Fed rate hike
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales were unexpectedly flat in July as Americans cut back on discretionary spending, pointing to a moderation in consumption that could temper expectations of a sharp pickup in economic growth in the third quarter. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not…
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Weak U.S. employment report dims prospect of Fed rate hike
The U.S. economy created the fewest number of jobs in more than 5-1/2-years in May as manufacturing and construction employment fell sharply, suggesting slippage in the labor market that could make it harder for the Federal Reserve to raise interest rates. Employment gains were also restrained by a month-long strike by Verizon workers, which depressed…
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Wall Street slips as strong data raises chances of rate hike
The Labor Department said the Consumer Price Index increased 0.4 percent last month, the largest gain since February 2013, after rising 0.1 percent in March. “This morning the economic news was generally favorable suggesting that … the U.S. economy has improved to levels warranting something other that crises-level rates,” said Terry Sandven, chief equity strategist…