NEW YORK (Reuters) – The dollar hit its lowest against the euro and Swiss franc in more than a year on Tuesday, with the broader dollar index touching a more than 10-month low, on reduced confidence in U.S. President Donald Trump’s agenda and jitters over hawkish central banks abroad. Republican senators’ effort to pass their […]
Category: Market
Trump Brags Stocket Market Keeps Rising Despite “Russian Hoax Story”
President Trump sought to downplay recent revelations surrounding the Russia probe on Saturday, saying the stock market was rising despite the “hoax story.” “Stock Market hit another all-time high yesterday – despite the Russian hoax story! Also, jobs numbers are starting to look very good!” the president tweeted. “Stock Market at new all-time high! Working […]
Yellen Says Rate Hikes Will Slow As Inflation Stays Low
The Federal Reserve could scale back on its expected pace of interest rate hikes if inflation continues to be soft, Chair Janet Yellen told Congress. Under questioning over why the central bank remains committed to normalizing policy even as price and wage pressures remain muted, Yellen said the Fed is aware of the softness in […]
Dow Gains 130 Points, Reaches All Time High
U.S. equities kicked off the second half of the year on the right foot, closing mostly higher on Monday as bank stocks climbed. The Dow Jones industrial average notched a record high before closing about 130 points higher, with Goldman Sachs contributing the most gains. The S&P 500 rose 0.23 percent, with financials and energy […]
Stock Market Looks To Be Strong In Second Half Of Year
The first half of the year comes to a close Friday, and it certainly has been a strong period for stocks. Year-to-date gains through Thursday: the Dow was up 7.7 percent, the S&P 500 is up 8 percent and the standout Nasdaq has soared over 14 percent. Over the past two decades, stocks have generally […]
Walgreens Ends Rite-Aid Take Over Bid; Still Buys 2,000 Stores
Walgreens Boots Alliance is scuttling its yearslong effort to buy competitor Rite Aid and will instead buy more than 2,000 of its stores for $5.18 billion. The less ambitious move follows resistance from federal regulators since the two drugstore chains first proposed a merger in 2015. Thursday morning’s announcement represented the second time the two […]
Amazon To Pay $13.7B To Acquire Whole Foods
Amazon.com Inc. will acquire Whole Foods Market Inc. for $13.7 billion, a bombshell of a deal that catapults the e-commerce giant into hundreds of physical stores and fulfills a long-held goal of selling more groceries. Amazon agreed to pay $42 a share in cash for the organic-food chain, including debt, a roughly 27 percent premium to the […]
May Jobs Report: 138,000 Jobs Up, Unemployment Down
The U.S. economy added 138,000 jobs in May, according to the monthly jobs report released by the Bureau of Labor Statistics on Friday morning. The national unemployment rate nudged lower, to 4.3 percent from 4.4 percent — a 16-year low. The 4.4 percent level had been the lowest since since 2007, before the recession hit. […]
China’s Credit Rating Is Downgraded As Debt Grows
SHANGHAI/BEIJING Moody’s Investors Service downgraded China’s credit ratings on Wednesday for the first time in nearly 30 years, saying it expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise. The one-notch downgrade in long-term local and foreign currency issuer ratings, to A1 from Aa3, […]
Over 200,000 Jobs Added, Beating Projections
Hiring in the United States rebounded in April as employers added a brisk 211,000 jobs, a sign that the economy’s slump in the first three months of the year could prove temporary. The unemployment rate dipped to 4.4 percent — its lowest point in a decade — from 4.5 percent in March. The figures suggest […]
French Election Could Impact Stock Market
As French voters head to the polls, investors are grappling with a remote yet not implausible possibility — victory for Marine Le Pen. The anti-euro leader of the far-right National Front is unlikely to triumph in the two-round presidential vote that kicks off Sunday. But few observers discount a win for Ms. Le Pen entirely, […]
Trump Tanks The Dollar
The dollar fell on Wednesday after President Donald Trump criticized its recent strength, but analysts expect the greenback to bounce back soon. Trump said the currency was “getting too strong” in an interview with The Wall Street Journal. “I think our dollar is getting too strong, and partially that’s my fault because people have confidence […]