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Markets Oil prices are edging up after U.S. crude broke below $40 per barrel in the prior session, but traders said fuel markets continue to be dogged by a production glut. “We got here on the back of excessive storage … Continue reading
Markets The Fed should be cautious in considering an interest rate increase due to lingering risks to the U.S. economy, New York Fed President William Dudley declared, describing Friday’s GDP growth figure of 1.2% as “sluggish.” Although he said it … Continue reading
Markets The first look at U.S. GDP for the second quarter arrives later this morning. Economists expect 2.6% growth to be reported, although many forecasts have been revised lower. Both Morgan Stanley and JPMorgan trimmed their GDP forecast recently to … Continue reading
Markets Since crude prices hit a year-high above $52 a barrel in June they have slipped almost 20%, leaving them on the cusp of a new bear market. EIA data on Wednesday unexpectedly showed a 1.7M barrel rise in U.S. … Continue reading
Markets The Federal Reserve is expected to stand pat at its meeting today, bowing this time to global volatility from the U.K.’s Brexit vote after staying on hold since it raised rates in December. Central to the debate at the … Continue reading
Markets U.S. futures are hugging the flatline as investors maintain a cautious tone ahead of a two-day FOMC meeting on interest rate policy. The Federal Reserve is all but certain to keep interest rates on hold, acknowledging improved economic prospects, … Continue reading
Markets “We reiterate our determination to use all policy tools – monetary, fiscal and structural – to achieve our goal of strong, sustainable, balanced and inclusive growth,” leaders from the world’s top economies declared in a joint communique on Sunday … Continue reading
Markets Business activity in the eurozone did not fall as much as expected in July, despite Brexit jitters and the Bastille Day massacre, as Markit’s flash PMI for the region dropped to 52.9 from June’s 53.1. But sterling fell 1% … Continue reading
Markets Traders are again shifting their focus to Europe, where the ECB will provide its first interest rate decision since the U.K. voted to leave the EU. Much like the Bank of England, the central bank is likely to wait … Continue reading
Markets The greenback is at a four-month high against a basket of currencies, bolstered by strong U.S. data and growing expectations the Fed may raise rates before the end of the year. The dollar index is up 0.2% at 97.271, … Continue reading