Hong Kong stocks retreated on Wednesday, hit by concerns about the China-US trade row and uncertainty over the Federal Reserve's interest rate plans. The Hang Seng Index eased 0.1 percent, or 26.45 points to 28,593.17. The benchmark Shanghai Composite Index fell 0.20 percent, or 5.92 points, to...
Stocks fell on Wednesday as the corporate earnings season rolled on with companies like CSX and Bank of America releasing their quarterly numbers. The Dow Jones Industrial Average dropped 115.7 points, or 0.42%. The S&P 500 slid 0.65% to 2,984.42. The Nasdaq Composite closed 0.46% lower at...
Oil futures ended with a loss on Wednesday, with U.S. prices at their lowest in about two weeks, as U.S. crude supplies posted a smaller-than-expected weekly decline and stockpiles of gasoline and distillates saw sizable gains. August West Texas Intermediate oil lost 84 cents, or 1.5%, to settle...
Bank of England Governor Mark Carney said on Monday that the possibility of Britain leaving the European Union next month without a transition deal ranked as the riskiest Brexit scenario for the...
Federal Reserve Chairman Jerome Powell on Tuesday suggested an interest-rate cut in July, widely expected by investors and economists, is not a done deal.
While greater uncertainty about trade and...
Federal Reserve Chairman Jerome Powell said Tuesday that the central bank now estimates that a key measure of core inflation increased in June to its highest level in four months but added that, despite the acceleration, inflation pressures œremain muted. In a speech to the Bank of France in Paris, Powell said the Fed currently estimates the change in the so-called core personal consumption expenditure (PCE) price index was 1.7% over the 12-months ended June. That is up from 1.6% in May and 1.5% as recently as March. The PCE price index is the Fed™s favorite measure of price changes. A 1.7% annual gain in core PCE would be the highest since February. Core PCE inflation last hit...
Minutes of the Federal Reserves January meeting showed officials debated whether increases in borrowing costs might be needed later this year, shedding additional light on the central banks pivot away from projecting gradual interest-rate hikes. œMany participants suggested that it was not yet clear what adjustments to the target range for the federal funds rate may be...
Federal Reserve Chairman Jerome Powell said the U.S. economy is œstrong though its benefits havent been felt evenly across the country. Speaking in Itta Bena, Mississippi, located in Leflore County where unemployment at 7.3 percent in December was almost double the national average, Powell said œwe know that prosperity has not been felt as much in some areas,...
Brexit could be an œacid test for how the world economy might fare under the new rules of trade, according to Bank of England Governor Mark Carney. œIn many respects, Brexit is the first test of a new global order and could prove the acid test of whether a way can be found to broaden the benefits of openness while enhancing democratic accountability, Carney said in a speech...
The Bank of England warned that damage to the economy from Brexit has increased as it cut its growth forecast and predicted a dramatic slump in investment. As the U.K. approaches the March 29 deadline to leave the European Union without yet having a deal for a new relationship settled, businesses are slashing spending and consumers are growing more worried. The BOE said that...
The Federal Reserve on Wednesday left a key U.S. interest rate unchanged and dropped longstanding language that suggested more rate hikes are on the way, stressing it will be 'patient' before determining its next steps. The central bank also said it's prepared to "adjust any of of the details" of its balance-sheet runoff if necessary. The vote was 10-0. The Fed adopted its new stance in...
Hong Kong stocks retreated on Wednesday, hit by concerns about the China-US trade row and uncertainty over the Federal Reserve's interest rate plans. The Hang Seng Index eased 0.1 percent, or 26.45 points to 28,593.17. The benchmark Shanghai Composite Index fell 0.20 percent, or 5.92 points, to...
Stocks fell on Wednesday as the corporate earnings season rolled on with companies like CSX and Bank of America releasing their quarterly numbers. The Dow Jones Industrial Average dropped 115.7 points, or 0.42%. The S&P 500 slid 0.65% to 2,984.42. The Nasdaq Composite closed 0.46% lower at...
Oil futures ended with a loss on Wednesday, with U.S. prices at their lowest in about two weeks, as U.S. crude supplies posted a smaller-than-expected weekly decline and stockpiles of gasoline and distillates saw sizable gains. August West Texas Intermediate oil lost 84 cents, or 1.5%, to settle...
Bank of England Governor Mark Carney said on Monday that the possibility of Britain leaving the European Union next month without a transition deal ranked as the riskiest Brexit scenario for the...
Federal Reserve Chairman Jerome Powell on Tuesday suggested an interest-rate cut in July, widely expected by investors and economists, is not a done deal.
While greater uncertainty about trade and...