The Dow was trading comfortably in positive territory all day ahead of the reveal of the Fed's meeting minutes, and upbeat commentary from the central bank on U.S. economic growth initially sent the index soaring more than 300 points after the release. However, stocks pulled back sharply in the final hour of trading, as concerns over rising interest rates sent the 10-year Treasury yield spiking to...Read More
Feb 22 (Reuters) - Australian shares are expected to remain flat at Thursday's open, following a muted performance on Wall Street and a slip in U.S. crude futures. U.S. stocks closed lower on Wednesday in a rocky session after the release of the minutes from the Federal Reserve's January meeting pushed yields on the benchmark 10-year U.S. Treasury note to a four-year high. Meanwhile, West Texas In...Read More
Feb 21 (Reuters) - U.S. burger chain Wendy's Co reported on Wednesday a smaller-than-expected rise in fourth-quarter sales at its restaurants in North America as fewer customers visited its outlets compared with its rivals such as McDonald's Corp .Same-restaurant sales in North America rose 1.3 percent in the quarter. Analysts on average were expecting same-store sales to rise 1.8 percent, accordi...Read More
(Corrects to add word "of" in paragraph 8)By Noel RandewichSAN FRANCISCO, Feb 21 (Reuters) - Netflix Inc , Amazon.com Inc and technology companies poised to benefit from U.S. corporate tax cuts are attracting fresh attention on Wall Street after their shares shrugged off recent market turbulence.Amazon on Wednesday rose over 2 percent and touched $1,500 for the first time, while Netflix...Read More
Charlotte Greenfield, Colin PackhamWELLINGTON/SYDNEY (Reuters) - The final version of a landmark deal aimed at cutting trade barriers in some of Asia-Pacific’s fastest-growing economies was released on Wednesday, signalling the pact was a step closer to reality even without its star member the United States.More than 20 provisions have been suspended or changed in the final text ahead of the...Read More
TORONTO, Feb 21 (Reuters) - Canada's main stock index unofficially closed higher on Wednesday, with nine of its 10 main sectors in positive territory.The Toronto Stock Exchange's S&P/TSX composite index rose 84.57 points, or 0.55 percent, at 15,524.01, its highest close since Feb. 2. (Reporting by Nichola Saminather; Editing by James Dalgleish) Disclaimer: The views expressed in this article...Read More
* Euro down, PMIs weaker than expected* Fed on track for a March rate hike (Updates prices, market activity; adds comments)By Saqib Iqbal AhmedNEW YORK, Feb 21 (Reuters) - The dollar rose to a more than one-week peak on Wednesday, extending its recovery from last week, helped by higher short-term Treasury yields, and as minutes of Federal Reserve's January meeting showed policymakers confident in...Read More
NEW YORK, Feb 21 (Reuters) - U.S. stocks closed lower on Wednesday in a rocky session after the release of the minutes from the Federal Reserve's January meeting pushed yields on the benchmark 10-year U.S. Treasury note to a four-year high. The Dow Jones Industrial Average fell 168 points, or 0.67 percent, to 24,796.75, the S&P 500 lost 14.87 points, or 0.55 percent, to 2,701.39 and the Nasdaq...Read More
Feb 21 (Reuters) - The Securities and Exchange Commission (SEC) on Wednesday accused former bitcoin-denominated platform BitFunder and its operator of running an unregistered securities exchange and defrauding its users.BitFunder and its founder Jon Montroll allegedly defrauded exchange users by misappropriating their bitcoins and failing to disclose a cyberattack on the platform that led to the t...Read More
BUENOS AIRES, Feb 21 (Reuters) - Argentina sold $700 million in Treasury notes to refinance maturing debt, the Finance Ministry said in a statement on Wednesday.The government sold $400 million in 126-day Treasury notes and $300 million in 203-day Treasury notes, for which it received $564 million and $302 million in orders, respectively.(Reporting by Caroline Stauffer, editing by G Crosse) Discl...Read More
* Treasury's auction of U.S. five-year notes saw average demand* Fed minutes show FOMC expectation of upside growth trajectory* U.S. 10-year hits four-year high* U.s. 30-year yields touch highest since July 2015 (Adds details on yield, corporate bond supply; updates prices in text, table)By Gertrude Chavez-DreyfussNEW YORK, Feb 21 (Reuters) - U.S. Treasury yields surged on Wednesday in choppy trad...Read More
* U.S. dollar index turns negative, hits session low, recovers to one-week high* Euro slips, sterling down on unemployment data* Wall Street rises but then gives back gains on Fed confidence in rate setting course* U.S. Treasury 30-year yield hits highest since July 2015. (Updates throughout after Fed minutes; adds comment; adds settled oil prices)By Hilary RussNEW YORK, Feb 21 (Reuters) - The dol...Read More
U.S. stocks have erased earlier gains, after the 10-year Treasury yield surged following the release of the latest Fed minutes. Among individual names making notable moves, FAANG stock Apple Inc. (NASDAQ:AAPL) and biotech TG Therapeutics Inc (NASDAQ:TGTX) are higher, whiletile manufacturer Tile Shop Holdings, Inc. (NASDAQ:TTS) is sinking. Here's a closer look at what shares of AAPL, TGTX, and TT...Read More
(Adds market reaction, analyst comment)By Lindsay Dunsmuir and Jason LangeWASHINGTON, Feb 21 (Reuters) - The Federal Reserve's rate-setting committee showed more confidence in the need to keep raising interest rates at its last policy meeting, with most believing that inflation would perk up. The more upbeat take on inflation in the minutes of the Jan. 30-31 meeting released on Wednesday will lik...Read More
* GRAPHIC-2018 asset returns: (New throughout, updates prices, market activity and comments, adds second byline and NEW YORK dateline)By Renita D. Young and Jan HarveyNEW YORK/LONDON, Feb 21 (Reuters) - Gold dipped further on Wednesday, a day after its biggest daily slide in 2-1/2 months, but briefly bounced higher as the U.S. dollar slipped for a short time after the release of minutes from the U...Read More
* Treasury's auction of U.S. five-year notes saw average demand* Fed minutes show FOMC expectation of upside growth trajectory* U.S. 2-year hits 9-year high; 30-year yields touch highest since July 2015 (Recasts, changes byline, adds auction results, analyst comment, table, updates prices in text)By Gertrude Chavez-DreyfussNEW YORK, Feb 21 (Reuters) - U.S. Treasury yields rose on Wednesday in chop...Read More
(Kitco News) - It's a choppy trading afternoon for gold, in the wake ofthe FOMC minutes released earlier this afternoon. Gold prices initially sawlittle reaction to the FOMC minutes, but then rallied with the U.S. dollarindex sold off. Then the U.S. dollar index rebounded from its lows totrade higher in the day, which prompted selling pressure in gold that drove itsprices to daily lows. The U.S. s...Read More
By John O'Donnell and Gederts GelzisRIGA, Feb 21 (Reuters) - Latvia's central bank chief has been suspended pending an investigation into bribery allegations, and the Baltic country's third biggest bank has sought emergency support following U.S. accusations of money-laundering and sanctions-busting.The problems, which the government says are not connected, have dealt a blow to Latvia's reputation...Read More
(Kitco News) - Gold prices saw a bit a delayed bullish reaction to the Wednesday afternoon releaseof the latest minutes from the Federal Open Market Committee meeting. However,when the U.S. dollar index started to erode shortly after the minutes’ release,gold prices proceeded to rally to their daily highs. Gold prices have sincebacked down a bit from their daily highs. Some bargain hunters i...Read More
* Industrials, materials sectors climb more than 1 pct* Fed more confident in need to raise rates - minutes* Dow up 0.88 pct, S&P 500 up 0.87 pct, Nasdaq up 1.18 pct (Updates to mid-afternoon, changes byline)By Chuck MikolajczakFeb 21 (Reuters) - U.S. stocks advanced on Wednesday, with the Dow and S&P 500 on track for their seventh gain in eight sessions, buoyed by stocks in economically s...Read More