• News
  • Business

Wall St. higher at open; Fed minutes awaited

The dollar index, which tracks the greenback against six major rivals, was down 0.17 percent to 97.184, after falling as low as 97.093.

It was also a fifth straight day of gains for the S&P 500.

"One thing that struck me a bit was that they registered confidence in the consumer was pretty healthy, and that's significant", said Michael Purves, chief global strategist at Weeden & Co. Signet Jewelers, which reports on Thursday, was down 6%.

"Under the [staff's] proposed approach, the committee would announce a set of gradually increasing caps, or limits, on the dollar amounts of Treasury and agency securities that would be allowed to run off each month, and only the amounts of securities repayments that exceeded the caps would be reinvested each month", the minutes said.

Oanda analyst Craig Erlam said: "Traders have become increasingly convinced that we'll see a rate hike in June, the second this year, but questions are being asked about where the Fed will go from there".

The minutes will be released at 2 p.m. ET (1600 GMT) and Fed funds futures show that traders now see a 75 percent chance that the USA central bank will raise interest rates in June.

"The market isn't necessarily too concerned about how much they're going to be reducing on a quarterly basis, they were more focused on what the process was going to be", said Eric Souza, senior portfolio manager at SVB Asset Management.

Israelis worry Trump's changing stands look more and more like Obama's
Notably, Trump dropped the word "authority" from Abbas' title in his Riyadh speech, calling Abbas simply Palestinian president. Abbas appears more inclined to do that, perhaps as a gesture to Trump, several analysts said.

The euro was up less than 0.1 percent at $1.1192 EUR=EBS , having scaled a 6-1/2-month high of $1.1268 on Tuesday.

The S&P 500 index showed 33 new 52-week highs and 10 new lows, while the Nasdaq recorded 64 new highs and 32 new lows.

Canada's dollar strengthened to a one-month high against its US counterpart after the Bank of Canada was more upbeat about the economy than some investors expected and as major oil producers looked set to possibly extend production cuts.

"My expectations are that the pace of interest rate hikes will be kept steady and stable regardless of the short-term fluctuations in the U.S. economic data", said Mark To, head of research at Hong Kong's Wing Fung Financial Group.

Elsewhere, world stock markets recovered from initial losses after Moody's Investors Service issued its first credit downgrade of China in 30 years, dropping China's sovereign debt to A1 from Aa3. After last week's market plunge on rising political uncertainty, the stock market uptrend is under pressure, a status that advises investors to exercise more caution when buying stocks.

Elsewhere, the Canadian dollar stood steady at C$1.3518 per dollar after touching C$1.3457 overnight, its strongest in a month. Brent crude was last down 0.39 per cent, or 21 cents at $53.94.

Oil prices were slightly lower as investors waited for news from Vienna where ministers from OPEC and other exporting countries were discussing whether to extend production cuts into the first quarter of next year.

Leave Your Comment

Leave Your Comment


Latest News

  • Trump meets pope: 'Honor of lifetime'

    Trump meets pope: 'Honor of lifetime'

    Trump reacted to the pontiff's comments by calling Francis "disgraceful" for doubting his faith . "I hope you do". While President Trump flashed a wide grin, the Pope offered only a modest smile - his demeanor, business-like.

    U.S. launches NAFTA 90-day renegotiation countdown

    It remains to be seen whether numerous administration's goals for renegotiating NAFTA are drawn from provisions in the TPP. Trilateral negotiations could begin as early as August 16. "We are ready to roll up our sleeves.
    'Little People, Big World' Star Zach Roloff Welcomes First Child

    'Little People, Big World' Star Zach Roloff Welcomes First Child

    Yet before ever knowing if their child was a little person, Tori told TLC that "whatever pops out, [they're] going to love it". Little People, Big World follows Roloff and his family as they live and work on their farm in Oregon.
  • Tourists swarm dock where sea lion dragged young girl underwater

    Tourists swarm dock where sea lion dragged young girl underwater

    The father of a six-year-old girl who was pulled into a Canadian harbor by a seal has pushed back against criticism of his family. Signage in the area has since gone up, suggesting that disturbing marine wildlife could carry up to a $100,000 fine.
    Niantic Teasing Legendary Pokemon For This Summer

    Niantic Teasing Legendary Pokemon For This Summer

    Of course that trailer featured a lot of stuff that hasn't made its way into the game, so we can pretty much ignore that. It appears that Niantic is gearing up to unleash something big for its popular mobile gaming app " Pokemon Go ".
    IL  qualifies for men's golf NCAAs; Northwestern falls short in playoff

    IL qualifies for men's golf NCAAs; Northwestern falls short in playoff

    On Wednesday he birdied the first hole and the par-4, 495-yard final hole that essentially clinched the nationals trip. Wallace faced major trouble for the first time in the tournament over the final four holes of the back nine.
  • Laurent Koscielny set to miss Arsenal clash with Everton

    Laurent Koscielny set to miss Arsenal clash with Everton

    Arsenal could be without defender Laurent Koscielny who will have a fitness test in the lead up to Sunday's game. Goalkeeper Joel Robles replaced Maarten Stekelenburg (groin) for the club's 1-0 home win over Watford last week.
    Cristiano Ronaldo and Karim Benzema seal title for Real Madrid

    Cristiano Ronaldo and Karim Benzema seal title for Real Madrid

    Finally, Real Sociedad need to win in Vigo and hope that either Athletic or Villarreal slip up in order to move into the top-six. But Karim Benzema and Toni Kroos made it a rout to keep Real on course for a LaLiga and Champions League double.
    Big game hunter crushed by elephant

    Big game hunter crushed by elephant

    His backpack was found on the banks of the Limpopo River and two crocodiles were shot during the extensive search for Van Zyl. A fellow hunter shot her and she collapsed on top of Mr Botha, killing him, South African website News24 reported.
  • Trump records robocall in Montana race

    Revelations that Gianforte said he was "thankful" for the bill on a private conference call proved a fundraising boon for Quist. Quist, on the other hand, began this race largely unknown outside of his musical career in the Mission Mountain Wood Band.

    French researchers find last-ditch cure to unlock WannaCry files

    The British government cancelled a nationwide NHS support contract with Microsoft after a year, leaving upgrades to local trusts. In laboratory testing, researchers at MWR and Kyptos say they have found Windows XP crashes before the virus can spread .

    Count Me Out: Huma Abedin To Divorce Sexting Anthony Weiner

    However just three days before the election, then-FBI director James Comey announced that it had cleared Clinton of wrongdoing ... In court, Weiner cried as he apologized to the teenager with whom he exchanged sexually explicit texts.
  • Trump targets farm subsidies in budget cuts

    Trump targets farm subsidies in budget cuts

    The administration also proposes to limit crop insurance subsidies to farms with an adjusted gross income of $500,000 or less. He indicated his support for many items in the FY 2018 budget, but said the President's budget for agriculture does not work.
    'Nonsense' - Sutton hits out at manager comments after Tottenham beat Man United

    'Nonsense' - Sutton hits out at manager comments after Tottenham beat Man United

    Harry Kane doubled that on 48 minutes, before Wayne Rooney scored a consolation goal for United. Mata added: "I think it's fair to congratulate Chelsea for winning the Premier League".

    Andre Dirrell's uncle Leon Lawson Jr punches opponent Jose Uzcategui after win

    The Venezuelan dropped Dirrell to the ground with a three-punch combo that finished after the bell, ending the title fight . All it took was for a bad incident to give super middleweight Andre Dirrell more press than he could have ever wanted.
  • Canadian connection: Drake meets Celine Dion at Billboards

    While the ceremony, which aired live on ABC, may have been short on awards presentations, there was no shortage of performances. The Toronto-based rapper is now the biggest victor ever, but Quebec-born singer, Celine Dion was the musical star of the event.

    Alonso: 'Unthinkable' to make pole shootout

    Three-time 500 victor Castroneves will start 19th, the inside of Row 7, after going 229.515. In fact the last time it competed at Indy was 38 years ago, with the auto you see here.
    Zverev to face Djokovic in Italian Open final

    Zverev to face Djokovic in Italian Open final

    Svitolina will therefore face Simona Halep in the women's final on Sunday after the Romanian beat Kiki Bertens . "This is undoubtedly my best performance of this year and maybe even longer", Djokovic said.

Breaking News



Recommended

CBO: GOP health care bill would leave 23M more people uninsured

The House bill will serve as a "foundation" for the Senate measure, with some of the same themes incorporated, said Sen. Democrats have hammered Republicans over the American Health Care Act, and the Wednesday report only fanned the flames.

Gritty Celtics stun Cavs to reduce series deficit

He finished with just 11 points on 4-for-13 shooting, including 0-for-4 from three-point range. "I didn't have it", James said. Bostons comeback was fueled by Thomas replacement, Marcus Smart , who made 7 of 10 3-pointers and scored 27 points.

Trump sets sight on the big deal: Mideast peace

President Donald Trump traveled to Bethlehem this morning in order to meet with Palestinian Authority leader Mahmoud Abbas. I have no doubt that, as we work together, you and I, the alliance between our countries will grow ever stronger.

ICJ snubs Pak, stays Jadhav execution till final verdict

India was able to demonstrate Pakistan's disregard for global conventions and its propensity to undermine the rule of law. Aziz, however, maintained that Qureshi had courageously presented Pakistan's case in the court, The Nation reported.

$400 Billion Price Tag for California Single-Payer Bill

However, the state would need to raise another $200 billion from tax hikes, according to the analysis. The rest would come from higher taxes on businesses, residents or both.

Loosen Up: NFL to allow some flair in celebrations

Last season the league adjusted the rule as well, not requiring the teams to identify the player designated to return in advance. That freedom had been stripped in many cases, with fans and media criticizing the NFL as being the "No Fun League".

Mishra accuses AAP of spreading lies over attack

Mishra was attacked on Wednesday evening while on a hunger strike at his residence in Delhi's Civil Lines. His photos are there with BJP's Pawan Sharma, Satish Upadhyay.

Madrid a draw away from Spanish title after win over Celta

Madrid are also linked with a potential move for Eden Hazard, who has shone for Antonio Conte's side this season. As we have a Champions League final around the corner it would be disrespectful to talk about that.

Xiaomi Redmi 4 goes on sale in India: Price, specifications and more

The 3GB RAM/ 32GB storage variant is priced at Rs. 8,999, and the 4GB RAM/ 64GB storage variant is priced at Rs. 10,999. Any buyer, who needs a good budget smartphone without sacrificing on battery and looks, should opt for the Redmi 4 .

Does Tony Adams retain a place in Arsenal fans hearts?

His 23 goals and 10 assists makes him the only Premier League player this season with double digit goals and double digit assists. Asked on Friday if the Everton clash will be his last game in charge of Arsenal at the Emirates, he gave a sarcastic response.