U.S. stocks rose higher on Wednesday after Federal Reserve Chairman Jerome Powell said that the gradual interest-rate hikes are meant to balance risks as it tries to keep the economy on track.
Tiffany & Co’s on Wednesday reported quarterly sales that missed estimates as Chinese tourists spent less than expected at the jeweler’s stores in the United States and Hong Kong, a shortfall that sent the company’s shares down as much 13 percent.
U.S. Federal Reserve Chair Jerome Powell said on Wednesday that while there was “a great deal to like” about U.S. prospects, the Fed’s gradual interest-rate hikes are meant to balance risks as it tries to keep the economy on track.
U.S. stocks edged higher on Wednesday, helped by healthcare and technology stocks, but caution prevailed ahead of Federal Reserve Chairman Jerome Powell’s speech that is expected to elaborate on a report that said asset prices were “elevated”.
Denmark’s state prosecutor has filed preliminary charges against Danske Bank for alleged violations of the country’s anti-money laundering act in relation to its Estonian branch.
Rising hopes that the United States and China could call a trade war ceasefire at the upcoming G20 summit boosted global stocks on Wednesday, but gains were held in check as investors looked ahead to a speech by Federal Reserve Chairman Jerome Powell.
U.S. President Donald Trump on Wednesday said new auto tariffs are “being studied now,” asserting they could prevent job cuts such as the U.S. layoffs and plant closures that General Motors Co announced this week.
Tensions over trade, the turbulent Brexit discussions, and trouble in China and emerging markets could rock a U.S. financial system where asset prices are “elevated” and business credit quality may be “deteriorating,” the U.S. Federal Reserve said in a first-ever report devoted to financial stability.
Sales of new U.S. single-family homes tumbled to a more than 2-1/2-year low in October amid sharp declines in all four regions, further evidence that higher mortgage rates were hurting the housing market.
U.S. stocks gained on Wednesday on hopes of a trade truce between the United States and China at the upcoming G20 Summit, while investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes.
U.S. stocks opened higher on Wednesday on hopes of a trade truce between the United States and China at the G20 Summit, and as investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes.
Danske Bank said the Danish state prosecutor had filed preliminary charges against the bank for allegedly violating the country’s anti-money laundering act in relation to it Estonian branch.
Daimler will start building electric cars in China next year as a way to meet Beijing’s stringent anti-pollution quotas for carmakers, even as demand for conventional models like the Mercedes-Benz Maybach remains strong.
The U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration’s 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter.
President Donald Trump on Wednesday retweeted a suggestion that General Motors Co should pay back the money the government spent to keep it afloat as part of the auto industry bailout if it doesn’t keep jobs in the country.
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