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Economy

Since the last Fed bond buy in late 2014, the S&P 500 has gained 10.2 percent on an annual basis, said Allen Bond, co-portfolio manager of the Jensen Quality Growth Fund (JENSX). The reduction in Treasuries would gradually accelerate until it reaches $30bn per month with mortgage-backed securities rising to $20bn per month. "We are still predicting an interest rate rise in September, but this will require further evidence that labour market tightness is generating higher wage growth", ...
  • NBA Finals Hit Game 5 High

    Economy

    It was an unprecedented third consecutive meeting between the clubs in the finals and both appear ready to continue their domination of conference rivals on the way to an annual showdown for the crown. Now, the Warriors will face a frenzy of free-agent moves this summer to try to keep as many stars and brilliant backups as possible around for another run in 2018.
  • Capitol police hailed as heroes in Virginia shooting

    Economy

    Scalise is in critical condition, according to MedStar Washington Hospital Center, and the other patient was hospitalized. Meanwhile, the Capitol Police says one of its officers is in good condition after having been shot in the ankle and another was treated and released with a minor injury .
  • WH Smith Confident For Year As Total Sales Rise 2%

    WH Smith Confident For Year As Total Sales Rise 2%

    Economy

    The books and stationery retailer said total sales within the Travel business were up 8% and like-for-like sales were up 5%. It said total sales in its Travel business - which runs concessions at airports, railway stations, and motorway service areas - were up 8%, of which 2% related to forex benefits from its growing global business, with like-for-like sales up 5%.
  • UK unemployment stays at lowest since 1975

    UK unemployment stays at lowest since 1975

    Economy

    The increase in inflation has exceeded the forecast the Bank of England issued last month, when it indicated it expected inflation would peak at 2.8% this autumn. "On the other hand, with wage growth continuing to slow and inflation still rising real pay is down on the year". The pound fell slightly after the ONS data, possibly reflecting a slowing of the surge in prices faced by factories, which hints at slower inflation ahead for households.
  • Fed raises key rate and unveils plan to reduce bond holdings

    Fed raises key rate and unveils plan to reduce bond holdings

    Economy

    Among utilities, France's EDF rose 3.3 percent after appointing a new manager to run its British unit handling the construction of two nuclear reactors at Hinkley Point C. Only Neel Kashkari, president of the Minneapolis Fed bank, opposed the increase. The committee signaled that more rises are on the horizon and that it "expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate ".
  • Fed Raises Key Interest Rate For The Fourth Time Since 2015

    Fed Raises Key Interest Rate For The Fourth Time Since 2015

    Economy

    The news flow out of Washington , D.C., is dominated by the shooting of Republican Representative Steve Scalise and several other people, but the Fed's rate hike decision remains on the docket this Wednesday. The Fed's estimates for the unemployment rate by the end of this year moved down to 4.3 percent, the current level, and to 4.2 percent in 2018, indicating the Fed believes the labor market will continue to tighten.
  • Fed Hikes Interest Rates Despite Declining Inflation

    Fed Hikes Interest Rates Despite Declining Inflation

    Economy

    Credit Suisse Research: With the market 90% priced for a 25bp rate hike, we do not expect much Dollars upside from such an outcome alone. In the policy statement, the FOMC highlighted a strong labor market and low unemployment rate and promised to monitor.
  • United Fall Guy: Airline Sued Over 2015 Incident Injuring Passenger

    United Fall Guy: Airline Sued Over 2015 Incident Injuring Passenger

    Economy

    Local news station KPRC 2 has obtained security camera footage of a confrontation in 2015 between a United employee and passenger Ronald Tigner at Bush Intercontinental Airport. "We are taking a thorough look into what happened here and reaching out to our customer to profusely apologize for what occurred and to make this right".
  • Traders see no further Fed rate rises until next year

    Traders see no further Fed rate rises until next year

    Economy

    The Federal Reserve pressed ahead with plans to shrink its $US4.5-trillion portfolio on Wednesday, mapping out a very gradual approach to shedding bonds that allows it to begin the tricky process as soon as September. He continued: " Many are expecting at least one more rate rise this year, although that is certainly not a given". Fed officials project growth of roughly 2 percent in 2017.
  • Crude, gasoline stockpiles rise; crude prices fall

    Economy

    The price of oil tumbled Wednesday in the wake of a report that revealed a surprise build-up in USA crude supplies last week. International-benchmark and U.S. Commodities brokerage Marex Spectron said it expects "lower supply of crude oil on the physical market " in the coming weeks, adding that "this is likely to provide support to the price" of oil.
  • Fed raises rates and outlines balance sheet reduction plan

    Fed raises rates and outlines balance sheet reduction plan

    Economy

    The U.S. central bank cited continued U.S. economic growth and job market strength, as it proceeds with its first tightening cycle in more than a decade. Another rate hike this year is "becoming less of a sure thing as every month of data comes out", said Michael Dolega, senior economist at TD Economics.