Reuters “Congress moves closer to deal to avert government shutdown” The U.S. Congress was moving closer to crafting a deal to avoid shutting down at the stroke of midnight on Friday, but the details and even broad strokes of an agreement were still murky. Some lawmakers are optimistic they can hammer out a budget bill....
Bloomberg “Janet Yellen Says Low Inflation Still Major Source of Uncertainty.” Federal Reserve Chair Janet Yellen said the U.S. economy should continue to expand over the next few years, allowing the central bank to keep raising interest rates, while also stressing the Fed is monitoring too-low inflation. U.S. stocks opened higher while Treasury yields fell....
Bloomberg “Morgan Stanley Traders Top Goldman’s for Second Straight Quarter” For a second straight quarter, Morgan Stanley posted more fixed-income revenue than its bigger competitor in one of Wall Street’s most hotly contested arenas, reporting the smallest drop among top U.S. investment banks on Wednesday. Equities trading also outperformed Goldman Sachs, as did the firm’s....
Bloomberg “Dow Tops 22,000 as Apple Rallies; Euro Strengthens: Markets Wrap.” The Dow Jones Industrial Average rose past 22,000 for the first time as Apple Inc. pushed to a record, while renewed strength in the euro dragged down European equities. Oil fluctuated after retreating from its brief rise above $50 a barrel. The Nasdaq 100....
Bloomberg “Stocks Bounce and Havens Drop as Korea Fears Abate: Markets Wrap.” Stocks around the world advanced and volatility gauges fell as the prospect of war between the U.S. and North Korea appeared to recede. Havens including gold, Treasuries and the yen fell. U.S. stock opened higher, with the S&P 500 Index and Dow Jones....
Reuters “Wall Street opens higher; investors eye Fed minutes.” U.S. stocks opened higher on Wednesday morning ahead of the latest Federal Reserve’s minutes, which will offer investors clues on future interest rate hikes this year. The central bank will release the details of the July policy meeting at 1400 ET (1800 GMT). A slide in....
New York Times “Stocks Drop as Attacks in Spain Push Investors to Safe Havens.” Stocks in the United States opened lower on Friday, following declines in Europe and Asia after terrorist attacks in Spain added to the issues concerning investors, spurring them to park their money in traditional safe havens. Both the Standard & Poor’s....
New York Times “Trump Settles on Afghan Strategy Expected to Raise Troop Levels” President Trump, who has been accused by lawmakers of dragging his feet on Afghanistan, has settled on a new strategy to carry on the nearly 16-year-old conflict there, administration officials said Sunday. The move, following a detailed review, is likely to open....
Reuters “Wall Street drops on Trump’s threats of government shutdown, NAFTA end.” U.S. stocks opened sharply lower on Wednesday, giving back some gains from a day earlier, after President Donald Trump warned of a government shutdown to build the Mexico border wall and also threatened to scrap a trade agreement with Mexico and Canada. The....
Bloomberg “U.S. Second-Quarter Growth Revised to 3% in Momentum Boost.” U.S. second-quarter growth was revised upward to the fastest pace in two years on stronger household spending and a bigger gain in business investment, putting the economy on a stronger track, Commerce Department data showed Wednesday. The revisions indicate greater momentum going into the second....
Reuters “U.S. job growth slows in August; wage growth retreats.” U.S. job growth slowed more than expected in August after two straight months of hefty gains, but the pace of increase should be more than sufficient for the Federal Reserve to announce a plan to start trimming the massive bond portfolio it built to support....
Bloomberg “Bitcoin Tumbles as PBOC Declares Initial Coin Offerings Illegal.” China’s central bank said initial coin offerings are illegal and asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales. The People’s Bank of China said on its website Monday that....
Bloomberg “Irma Has Florida Bracing for Atlantic’s Strongest Storm Yet.” Hurricane Irma, the most powerful storm to form in the open Atlantic Ocean, made landfall in the Caribbean early Wednesday and barreled toward Puerto Rico on a path that may bring it ashore in Florida and destroy so much property that damages surpass Hurricane Katrina.....
New York Times “Caribbean Devastated as Irma Heads Toward Florida.” One of the most powerful Atlantic hurricanes ever recorded crescendoed over the Caribbean on Thursday, crumpling islands better known as beach paradises into half-habitable emergency zones and sideswiping Puerto Rico before churning north. It is expected to hit the Florida Keys and South Florida by....
Bloomberg “Dollar Advances With Stocks as Irma Threat Recedes.” The dollar gained, Treasuries retreated and stocks advanced as an appetite for risk returned after an anticipated North Korean missile test failed to materialize and Hurricane Irma struck the U.S. with less force than feared. Gold, the yen and the Swiss franc all fell. Bloomberg’s dollar....