Mar 04 2017
"The main theme doing the rounds this week was the increasing hawkishness of Fed members, which clearly pointed to a rate hike in March", said TreasuryOne currency dealer Andre Botha. Fed fund futures contracts were quick to price in the commentary, with the odds of a March rate hike rising to 98%, the odds of a second rate hike in September rising to 76%, and the odds of a third rate hike this year in December rising to 56%.
MSCI's global stocks index was down 0.4 percent after touching an intraday record high.
The Dow Jones Industrial Average (.DJI) rose 2.74 points, or 0.01 percent, to 21,005.71, the S&P 500 (.SPX) gained 1.2 points, or 0.05 percent, to end at 2,383.12 while the Nasdaq Composite (.IXIC) added 9.53 points, or 0.16 percent, to reach 5,870.75.
Having priced in only around a 30 per cent chance that the Fed would move this month before the Fed comments, investors moved to price in around a 68 per cent probability of a March hike, according to Reuters data. The personal consumption expenditures price index, the Fed's favored measure of inflation, rose 1.9 percent in the 12 months ending in January, almost reaching the Fed's 2 percent inflation target.
On Wednesday two other fed reserve officials including New York Fed President William Dudley and San Francisco Fed chief John Williams who both gave positive comments on the next interest rate hike.
The U.S. dollar index (.DXY) fell 0.8 percent against a basket of six major currencies as investors took profits but it was still on track for its fourth straight weekly gain.
During her speech, Yellen outlined the Fed's policy strategy for much of the past decade, since the financial crisis and Great Recession.
"A stronger US dollar, after hawkish comment from the Federal Reserve's Dudley is also offering helpful weakness in the pound and euro to boost the FTSE and DAX".
"The dollar and yields are moving higher as next theme of the market, the "Fed" overrides the Trump effect".
U.S. Treasury prices also ended little changed after Yellen's remarks, with the 10-year yield ending up a basis point at 2.49% and the two-year yield lower by 3 bps at 1.29%; for the week, the 10-year yield jumped by the most since mid-November, and yesterday's two-year yield of 1.32% was the highest since 2009.
The decision helped French stocks, already doing well after strong earnings reports, climb 1.7 per cent to a 15-month high.
The hardening prospect of a U.S. rate rise this month together with some disappointing manufacturing data saw the pound weaken to six-month lows against the dollar today. On Friday, the kiwi dollar was down 0.41 percent. At the same time, a key measure of inflation has risen almost to its target rate of 2 percent, a low level that Fed experts say helps the economy grow.
In commodity markets, oil prices edged up as investors took heart from strict OPEC compliance with its pledge to cut output, though evidence of increasing US production capped gains.
Mar 04 2017
First image of Emily Blunt as Mary Poppins surfaces
In the story, Michael (Whishaw) and Jane (Mortimer), who were kids in Disney's 1964 " Mary Poppins ", have grown up. And the infamous carpet bag is still there, although it's had a bit of a makeover from the looks of things.
Mar 04 2017
House Republicans moving forward with 'secret' health care plan
Even if an arrangement was made for Paul to read the bill, he said he wanted everyone to have the chance to see what it is about. The GOP plan would provide money for those states and for the 19 states, mostly run by Republicans, that didn't expand Medicaid.
Mar 03 2017
US House panel to probe alleged Trump-Russia links
USA intelligence also reportedly received communications of Russian officials discussing contacts with Trump associates. More disconcerting was a subsequent meeting with Kislyak, this time in his Senate office, on September 8.
Mar 03 2017
Google unveils playable ads for Android game developers and other tools
Bankhead said Google is also creating gameplay videos, which users will be able to see next to the apps on the Google Play store. Playables offer users the same experience that the real game offers, just for a shorter time period since it's only a preview.
Mar 03 2017
Truck goes airborne during high-speed chase in northwest Louisiana
He had been in jail for vehicle theft and had escaped custody when ditching a work-release programme after finishing his shift. According to KSLA-TV, Kevonte Dekorey Austin, 18, was taken into custody in Webster Parrish, Louisiana.
Mar 03 2017
Dow Jones Industrial Average tops 21000 for first time
However, it is the Nasdaq that outperformed the rest with 5.13 percent gain in February until the closing of February. Oil service stocks also saw considerable strength, driving the Philadelphia Oil Service Index up by 2.8 percent.
Mar 02 2017
How to Recharge and Subscribe to Jio Prime Plans
Another pack will cost Rs. 499, and will also offer 60GB 4G data with 2GB daily data cap while will offer unlimited voice calls. After revealing a new "Prime" plan recently, Reliance Jio has announced fresh new plans for existing and new customers.
Mar 01 2017
Cassidy applauds Trump's order to eliminate Obama-era environmental rule
The move is the first of several environmental directives expected from the Trump administration in coming days. WOTUS, which was finalized by the Environmental Protection Agency and the U.S.
Mar 01 2017
Trump's Cabinet Welcomes Another Billionaire Wilbur Ross
Ross has also sought to ease concerns about whether the White House would try to politicize climate science. The commerce secretary has several roles in promoting American business interests in the US and overseas .
Feb 23 2017
United States stocks retreat from records ahead of Fed minutes
A change economic conditions could come with a reversal in the lofty USA equity prices that have policy makers on watch. Those expectations and the prospect of increased government spending have also has helped boost stock prices.
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