Mar 03 2018
New York Federal Reserve President William Dudley also added to the evidence that the USA central bank under new chief Jerome Powell would seek to tighten monetary policy with four interest rates rises this year, more than previously expected.
Fed chief Powell will deliver the second leg of his semi-annual testimony on Thursday, an opportunity to clarify comments made on Tuesday that rekindled speculation over USA monetary tightening this year happening faster than expected. Analysts are watching to see if Powell adjusts his tone today.
The Dow Jones industrial average dropped 420.22 points, or 1.7 percent, to 24,608.98, and the Nasdaq composite fell 92.45, or 1.3 percent, to 7,180.56.
The core index, which Fed officials see as a better indicator of underlying price pressures because it excludes often-volatile costs for food and fuel, was up 0.3 percent in January - the most in a year - and 1.5 percent from January 2017, the same annual gain as the previous three months. Shares of the company, which sells dental and animal health products, dropped $7.49, or 23.7 percent, to $24.09.
The CBOE Volatility index .vix , the measure of short-term stock market volatility on Wall Street, was last at 20.72 - its highest in a week.
Investors have begun to worry that the Fed might accelerate the pace of its credit tightening if inflation, which has been dormant for years, starts to show signs of accelerating.
Powell, who took office on February 5, was tapped last November as the new Fed leader after President Donald Trump made a decision to against offering Yellen a second term.
Making his first public comments as leader of the nation's central bank, Powell depicted an economy that was gaining strength and stressed that he meant to follow the approach to interest rates set by his predecessor, Janet Yellen.
Bond prices rose as demand jumped for safer investments, which pushed yields lower. The euro fell to $1.2170 from $1.2203, and the British pound slipped to $1.3743 from $1.3771.
Kushner business secured loans from bank bigs after White House meetings
According to reports, Mueller has been looking into the financial dealings of a number of Trump family members, including Kushner. In 2012, the Kushners and Steinmetz joined forces to buy almost $200 million of apartment buildings in the NY metropolitan area.
Watch Ester Ledecka make history, win gold medals in two different sports
However, she admitted it had not always been easy to deal with the pressure of having so many great expectations on her shoulders. She had not worn makeup, preferring to keep her eyes shielded from the roomful of reporters and cameras.
LBPD Arrests Student At Wilson High For Alleged Threats
The public is asked to follow the protocol of "See Something, Say Something" when witnessing or hearing suspicious activity. The incident follows that of a similar threat made earlier Thursday by a 15-year-old freshman at Millikan High School.
What else could help drive markets?
Initial U.S. jobless claims (http://www.marketwatch.com/story/us-jobless-claims-fall-to-lowest-level-since-1969-2018-03-01) fell by 10,000 to 210,000 in the seven days ended February 24, the lowest level in almost 50 years. The yearly increase in the PCE was flat at 1.7% for the third month in a row, below the Fed's 2% target. That data is due at 8:30 a.m. ET. Eastern, with economists expecting a reading of 59.0% for ISM's index.
In addition, reports covering USA auto sales for February are scheduled to roll in throughout the day.
Oil fell more than 1 percent, hitting two-week lows on pressure from a strong dollar and worries that surging USA crude output might thwart efforts by the Organization of the Petroleum Exporting Countries to drain global supply.
Which stocks look like key movers?
Toronto-Dominion Bank also rallied after reporting quarterly earnings that beat market expectations.
In contrast, soft inflation data in the euro zone on Wednesday dented expectations that the European Central Bank (ECB) will dial back its stimulus this year, driving the euro to a six-month trough against the yen in Asian trading on Thursday.
The dollar index is still down 1.5 percent this year, dogged by suspicions that the Trump administration prefers a weaker dollar to mend its bulging trade deficit.
What are other assets doing?
Mar 02 2018
UN Security Council adopts Russian-drafted resolution on renewal of Yemen sanctions
In Yemen, a Saudi-led coalition has been bombing since 2015 Iran-backed Shia Houthi rebels opposed to the internationally recognised government.
Feb 26 2018
Major quake shakes Papua New Guinea; no tsunami threat to Hawaii
He said social media posts reported blackouts and damage to buildings at Porgera, although he was not aware of any injuries. Geological Survey says the 7.5 magnitude quake was centered about 90 kilometers south of Porgera, in Enga province.
Feb 25 2018
At least 13 injured after 'explosion' on board ferry at Mexico resort
Some of the injuries also included minor cuts and those affected in the incident were taken to a hospital for treatment. The blast has left one side of the ferry, which belongs to the Barcos Caribe company, completely destroyed.
Feb 25 2018
Trump tax cut fuels record profit for Buffett's Berkshire
Net earnings per Class A equivalent share attributable to shareholders jumped to $19,790 from $3,823 past year . Buffett urged investors to stick with stocks even though they can be riskier in the short-term.
Feb 25 2018
Bollywood Actress Sridevi passes away after suffering cardiac arrest
Her brother-in-law Sanjay confirmed the news to indianexpress.com , saying, "It roughly happened around 11-11.30pm". Jhanvi, Sridevi and Boney's elder daughter couldn't join them in Dubai due to her packed shooting schedule.
Feb 24 2018
Trump Defends Second Amendment At CPAC And Warns of Dems Taking Office
She wore a Trump hat and scarf, and brought a small Trump figurine for posing for photos with conservative media personalities. President Trump also used the speech to renew his call for Congress to pass a bill funding a wall along the U-S/Mexico border.
Feb 24 2018
Utterly ridiculous: Jennifer Lawrence blasts media over dress controversy
She was reluctant because she had been hacked in 2014 and was devastated when nude photos of her were spread across the internet. The actress added, "Even friends, for many years, were not as important to me as my career".
Feb 22 2018
Do not test our resolve: Netanyahu to Iran's smooth-talking foreign min
Netanyahu also lauded the positive effect that Iranian aggression has had on uniting regional powers. Now, there has been one positive outcome of Iran's growing aggression in the region.
Feb 22 2018
Qualcomm Unveils Reference Design For VR Headset Powered by Snapdragon 845
The 845 platform also includes a digital signal processor for measuring, filtering, or compressing analog signals. Specifically, a Snapdragon 845 VR headset can support two 2400x2400 resolution displays at 120 frames per second.
Feb 22 2018
All-new Volvo V60 family estate revealed
Volvo's newest estate is expected to arrive in showrooms in September 2018, although an exact date has not been announced. The good news is that the new S60's debut isn't too far away, since Volvo has confirmed that it will debut this summer.
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