US weekly jobless claims rise more than expected
The number of Americans filing for unemployment benefits increased more than expected last week likely as Hurricane Florence temporarily displaced some workers, but the underlying trend continued to point to a tightening labor market. Initial claims for state unemployment benefits...
Final reading on Q2 GDP confirms 4.2% gain, fastest rise in nearly four years
The U.S. economy grew as expected in the second quarter, according to a reading Thursday that confirmed that gross domestic product rose at its quickest rate in nearly four years. GDP, the broadest measure of how the economy is progressing,...
Closely watched China Renaissance IPO crumbles in first day of trade
Hot on the heels of Chinese hotpot chain Haidilao’s debut yesterday, Hong Kong Exchanges and Clearing held another highly anticipated initial public offering with the debut of investment bank China Renaissance. The company, which counts Alibaba-affiliated payments giant Ant Financial...
China’s once-burgeoning private equity industry hits growing pains
The latest upheavals in the Chinese financial market may bring it one step closer to becoming a developed market. For now, the picture isn’t a pretty one: The Shanghai composite has slumped about 15 percent this year, high-profile mainland companies...
Trump claims he rejected a meeting with Trudeau over NAFTA — but Canada says it never asked to meet
President Donald Trump claimed Wednesday that he rejected a meeting with Canadian Prime Minister Justin Trudeau this week as the countries struggle to reach a new trade deal. However, “no meeting was requested” by the Canadian government, Trudeau spokeswoman Eleanore...
President Trump is ‘not happy’ with Fed’s decision to raise interest rates
President Donald Trump was not applauding the Fed’s decision to raise interest rates Wednesday. “Unfortunately they just raised interest rates a little bit because we are doing so well. I’m not happy about that,” President Trump said at a press...
Fed sounds less aggressive than expected and less confident in long-term growth
Stocks and bonds seesawed as investors parsed the Fed’s message on Wednesday after Fed Chair Jerome Powell spoke to reporters. The Federal Reserve raised interest rates, as expected, by a quarter point, raised its economic outlook for this year and...
Fed’s Powell says he doesn’t see inflation surprising to the upside, sending yields lower
Comments from Federal Reserve Chairman Jerome Powell sent bond yields lower even after the Fed hiked interest rates. Asked what could spur the Fed to increase the federal funds rate even faster, Powell said the central bank would need to...
Fed’s Powell says drop of ‘accommodative’ language doesn’t signal any change in rate hike path
The Federal Reserve remains on its policy path despite an indication from the central bank Wednesday that it is no longer taking an “accommodative” stance, Chairman Jerome Powell said. Markets had been watching closely to see whether the Fed would...
Watch Fed Chairman Jerome Powell’s news conference live
[The stream is slated to start at 2:30 pm ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell is delivering his quarterly news conference Wednesday, following the central...
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