• Fed raises benchmark interest rate, providing vote of confidence in the economy
Fed raises benchmark interest rate, providing vote of confidence in the economy

The majority of Fed officials estimated in March that they would raise rates two more times this year. The Federal cited continued USA economic growth and job market strength. economy with extraordinary levels of support. The U.S. dollar had been pressured by weaker-than-expected economic data but reversed most of its losses against a basket ...

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  • Text of the Fed's statement after its meeting Wednesday
Text of the Fed's statement after its meeting Wednesday

The Fed's preferred measure of underlying inflation has retreated to 1.5 per cent, from 1.8 per cent earlier this year, and has run below the central bank's 2 per cent target for more than five years. They continue to expect the economy to grow 2.1 percent next year and 1.9 percent in 2019. In the fed funds futures market, the expectations for an...

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  • Brighton chief thrilled to face Manchester City on Premier League return
Brighton chief thrilled to face Manchester City on Premier League return

West Ham earned only 25 points in their first season at the London Stadium, the fifth-worst record in the league, although the away form was enough for them to finish 11th. Chelsea visit Newcastle United on the final weekend. The start of West Ham's Premier League campaign is in disarray, as the club revealed they'll have to play their first...

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  • US Fed hikes interest rate by 25 bps, unveils bond trimming plans
US Fed hikes interest rate by 25 bps, unveils bond trimming plans

Typically, negative rates are a reflection of market anxiety, reflecting central bank stimulus-key rates in the euro zone and Japan now sit at 0% or below in hopes of reviving moribund economies-and investors flocking to the safety of bonds.

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  • Fed poised to hike rates for 2nd time this year
Fed poised to hike rates for 2nd time this year

One signal could come from the Fed's quarterly "dot plot". Asian stocks were mixed on Wednesday as investors anticipate the Federal Reserve's ( Fed) monetary policy decision following a possible rate increase later in the day. The STOXX 600 index fell 0.3 percent with the banks, whose lending business gets a boost in margins when rates rise,...

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  • New Mexico congressman recounts baseball practice shooting
New Mexico congressman recounts baseball practice shooting

The Republican lawmaker was transported to MedStar Washington Hospital Center in Washington , D.C., where he was in stable condition and undergoing surgery. "Please pray for [Steve Scalise], my colleagues, their staff, and [Capitol Police] involved in this horrific shooting ". In a speech in the House chamber , House Speaker Paul Ryan na...

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  • UK Inflation surpassed expectations, reaching Four-Year High of 2.9%
UK Inflation surpassed expectations, reaching Four-Year High of 2.9%

Inflation has been rising steadily in recent months, as the drop in the pound — by as much as a fifth against the dollar since Britain voted in June a year ago to leave the European Union — makes imports more expensive. Inflation is continuing to rise, with the consumer prices index reaching a four-year high of 2.9% in May. Falling US fuel pr...

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  • 3 things to watch for from the Federal Reserve on Wednesday
3 things to watch for from the Federal Reserve on Wednesday

Gold is rising by almost 1 percent on Wednesday, for its first positive session in six, ahead of an eagerly anticipated Federal Reserve meeting. Some gains are expected on Wall Street later, with the futures for both the Dow and S&P 500 up 0.1 percent.

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  • Fed raises key rate and unveils plan to reduce bond holdings
Fed raises key rate and unveils plan to reduce bond holdings

To be sure, the Fed's preferred measure of inflation, the price index for personal consumption expenditure (PCE), rose to a five-year high of +2.1% in February, crossing the FOMC's 2% threshold in the process. The market has priced in a 97% likelihood of a US Federal Reserve rate hike. The rate determines the level of other interest rates in ...

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  • Fed hikes key rate and unveils bond trimming plans
Fed hikes key rate and unveils bond trimming plans

In a press conference after the decision was announced, Yellen said the unwinding plan could be put into effect "relatively soon" if the economy evolves as the central bank expects. In 2007, as the economy worsened, the benchmark federal funds rate was 5.25 percent. When the Fed announced it wanted to wind down its bond purchasing in 2013, raisin...

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  • Schlumberger Limited (NYSE:SLB) Shares Dip Under Moving Averages
Schlumberger Limited (NYSE:SLB) Shares Dip Under Moving Averages

Schlumberger Limited (NYSE: SLB ) reached 2.11% versus a 1-year low price of $67.92. These shares are worth $349,100 and were traded at $69.82 each. Choate Advisors invested in 14,112 shares or 0% of the stock. If the share price is now hovering near the 52 week low and the value is achieved in the current past then it can suggest that the price of...

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  • Federal Reserve Raises Interest Rate for Third Time in Six Months
Federal Reserve Raises Interest Rate for Third Time in Six Months

ET, the Dow Jones Industrial Average was up 9.23 points, or 0.04 percent, at 21,337.7. The S&P 500 Index turned lower as the chair spoke. The central bank is also still on track to raise rates one more time this year, according to the FOMC's projections which have remained unchanged since its March meeting , despite the market expecting to...

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  • Oil Halts Advance on Signs of Surging US Gasoline Stockpiles
Oil Halts Advance on Signs of Surging US Gasoline Stockpiles

According to a Wall Street Journal analysis of data from the U.S. Energy Department and the International Trade Commission, the U.S. exported 1 million barrels of oil a day during some months so far this year, double the pace of 2016. Oil markets have been, for the last couple of weeks, cautious and slow to react to the positive news of crude...

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  • US consumer prices slipped 0.1 percent in May
US consumer prices slipped 0.1 percent in May

Figures from the Office for National Statistics ( ONS ) revealed the consumer prices index rose by 0.2% during the month, showing a steady upward trend since the United Kingdom voted in favour of leaving the European Union last June. Unemployment remains at 4.6 per cent, its joint lowest since 1975, while the employment rate stayed at a record ...

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  • Crude Prices Tumble Ahead of US Inventory Report
Crude Prices Tumble Ahead of US Inventory Report

The EIA report, which is routinely issued on Wednesday, was delayed by a day due to the Memorial Day holiday. Crude stockpiles were down by 6.4 million barrels in the week to May 26, compared with analysts' expectations for a decrease of 2.5 million barrels.

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  • Asia lags Wall Street's record run, wary of Fed plans
Asia lags Wall Street's record run, wary of Fed plans

US 30-year yields were last at 2.863 percent, compared to 2.868 percent late Monday. Elevated expectations of a June rate hike on Wednesday, spurred a move higher in financials, mostly banks, as Goldman Sachs, JPMorgan, and Citigroup ended the session in positive.

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  • Novak Djokovic Beats Albert Ramos-Vinolas at 2017 French Open
Novak Djokovic Beats Albert Ramos-Vinolas at 2017 French Open

Djokovic reached his 11th career quarterfinal at Roland Garros to tie Rafael Nadal and Roger Federer for most all time , but more important, he played the caliber of tennis that could take him further into this draw. In the last 16 the Serb faces Albert Ramos-Vinolas, whose best Grand Slam run came when he made last year's French Open qua...

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  • Fed raises rates, unveils balance sheet cuts in sign of confidence
Fed raises rates, unveils balance sheet cuts in sign of confidence

There isn't much suspense about what the Fed will announce when its latest policy meeting ends Wednesday: That it's raising its key short-term interest rate for the third time in six months. The vote was 8-1, with Minneapolis Fed President Neel Kashkari dissenting from a rate increase for the second time this year, preferring no change.

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  • Stocks, dollar firm ahead of Fed decision
Stocks, dollar firm ahead of Fed decision

Fed Chair Janet Yellen was holding a press conference at 2:30 p.m. EDT (1830 GMT). Despite mixed economic data released recently, expectations of an interest rate hike are high. Only Neel Kashkari, president of the Minneapolis Fed bank, opposed the increase. This would reduce its holdings of Treasury and mortgage-backed bonds, which they acquired i...

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  • Fed Raises Key Interest Rate For The Fourth Time Since 2015
Fed Raises Key Interest Rate For The Fourth Time Since 2015

Bond yields didn't move much after the Fed's announcement at 2 p.m. The yield on the 10-year Treasury note was 2.12 percent, the same as shortly before the statement came out. Federal Reserve . By then, the Fed's forecast would put its key policy rate at 3 percent. The ultimate size will depend on the mechanism the Fed decides to use to set f...

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