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  • 09/24/2017 10:40:34

    Merkel set to win 4th term

    Angela Merkel is set to win a fourth term in Germany's general election on Sunday, where polls closed roughly half an hour ago at 6 p.m. Central European time. Meanwhile, the anti-immigrant Alternative for Germany party is slated to come in third, with first projections showing them above 13% of the vote, according to the Wall Street Journal and local reports. Merkel's Christian Democratic Party is leading with around 33%--its worst result since the Federal Republic of Germany's first election in 1949--followed by her main challenger Martin Schulz's social democrats with roughly 20%. Both parties have registered steep losses compared with the last election, and the social democrats are unwilling to enter into another grand coalition to lead the country, local media reports. This means Merkel will likely have to form ties with the Greens and liberals, in the so-called Jamaica coalition.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 09/20/2017 13:34:16

    BlackRock's Rieder: Investors should expect ECB taper 'early next year'

    NEW YORK, Sept 20 (Reuters) - BlackRock Inc portfolio manager Rick Rieder said on Wednesday on Twitter that investors should "look for tapering" from the European Central Bank following an announcement by the U.S. Federal Reserve that it would reduce its own balance sheet.

  • 08/25/2017 14:19:23

    Dow ends slightly higher after Jackson Hole speeches; Nasdaq halts weekly skid

    U.S. stock benchmarks finished with slight gains Friday, halting weekly skids as European Central Bank President Mario Draghi and Federal Reserve boss Janet Yellen delivered speeches at Jackson Hole, Wyo. The Dow Jones Industrial Average rose 30.37 points, or 0.1%, at 21,813.67 Dow components Boeing Co. and Intel Corp. limited gains for blue chips. The S&P 500 index advanced 4.08 points, or 0.2%, at 2,443.05, while the Nasdaq Composite Index finished lower, down 5.68 points, or less than 0.1%, at 6,265.64. Still, the technology laden gauge halted a dubious streak of four consecutive weekly declines, with a roughly 0.8% gain. For the week, the Dow gained 0.6%, while the S&P 500 enjoyed a 0.7% return, with both benchmarks ending two straight weeks of declines. Earlier in the session, Yellen said the economy was stabilizing but made no specific remarks about monetary policy during her speech at the gathering of central bankers in Wyoming. Later Friday, Draghi said recoveries taking place in global economies are firming, though he said it was "at an earlier stage" in Europe and Japan. His remarks were interpreted as hawkish by investors, sending the euro surging against the dollar up at $1.1925, compared to $1.18 late Thursday in New York. U.S. equity markets, meanwhile, were given an early boost on the back of the possibility of tax reform following remarks made by Gary Cohn, the president's economic adviser. During a interview with the Financial Times he said the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of catalyst for stocks's rise to records after Trump's election victory in November. In that interview, Cohn also said he seriously considered resigning in response to Trump's reaction to a Charlottesville, Va., white-supremacist rally, however, the adviser and former Goldman Sachs executive decided against leaving. In other news, investors watched developments in the Gulf Coast after Hurricane Harvey was upgraded to a Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 9% after the retailer's results late Thursday showed second-quarter sales growth slowed. Check out a live blog of the Jackson Hole symposium here.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 14:10:51

    Dow ends with slight gain after Jackson Hole speeches; Nasdaq halts weekly losing streak

    U.S. stock benchmarks ended with slight gains Friday, halting weekly skids as European Central Bank President Mario Draghi and Federal Reserve boss Janet Yellen delivered speeches at Jackson Hole, Wyo. The Dow Jones Industrial Average rose 30 points, or 0.1%, at 21,813. Dow components Boeing Co. and Intel Corp. limited gains for blue chips. The S&P 500 index climbed 4 points, or 0.2%, at 2,443, while the Nasdaq Composite Index finished lower, down 5 points, or less than 0.1%, at 6,265. Still, the technology laden gauge halted a dubious streak of four consecutive weekly declines, with a roughly 0.8% gain. Earlier in the session, Federal Reserve Chairwoman Yellen said the economy was stabilizing but made no specific remarks about monetary policy during her speech at the gathering of central bankers in Wyoming. Later in the session, Draghi said recoveries taking place in global economies are firming, though he said it was "at an earlier stage" in Europe and Japan. The statement was enough to send the euro surging against the dollar up at $1.1925, compared to $1.18 late Thursday in New York. U.S. equity markets, meanwhile, were given an early boost on the back of the possibility of tax reform following remarks made by Gary Cohn, the president's economic adviser. During a interview with the Financial Times he said the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of catalyst for stocks's rise to records after Trump's election victory in November. In that interview, Cohn also said he seriously considered resigning in response to Trump's reaction to a Charlottesville, Va., white-supremacist rally, however, the adviser and former Goldman Sachs executive decided against leaving. In other news, investors watched developments in the Gulf Coast after Hurricane Harvey was upgraded to a Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 9% after the retailer's results late Thursday showed second-quarter sales growth slowed. Check out a live blog of the Jackson Hole symposium here.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 13:29:42

    Euro strongest versus dollar since January 2015 after Draghi speech

    The euro jumped against the U.S. dollar on the back of European Central Bank President Mario Draghi's speech at Jackson Hole, Wyo. The eurozone currency surged and remains up 1% versus the dollar at $1.1922 in the aftermath aftermath of Draghi's speech. The euro reached its highest level since January 2015. The euro began to strengthen earlier after the speech from Federal Reserve Chairwoman Janet Yellen disappointed markets. The ICE dollar index dropped 0.8% to 92.5080, its lowest level since January 2015, before rebounding slightly to 92.5420. The British pound held on to its gains against the dollar from earlier at $1.2884, up 0.6% from Thursday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 13:18:39

    ECB's Draghi says drift towards protectionism is 'serious risk' to global economy

    European Central Bank President Mario Draghi warned Friday a drift toward protectionism is a serious risk to the global economy. In a speech at the Federal Reserve's summer retreat in Jackson Hole, Draghi said that multilateral cooperation was crucial in making free trade sustainable. Cooperation across borders can help policymakers respond to the backlash against free trade that stems from legitimate concern for fairness, safety and equity, he said. Draghi did not discuss the ECB's bond-buying program in his prepared remarks. There had been expectations earlier in the month that the ECB president would use Jackson Hole to signal an end to the asset purchases by the end of the year. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 07:58:16

    Dow climbs 100 points as stock market rallies on tax-reform hope

    U.S. stock benchmarks opened higher on Friday and looked set to log weekly gains as investors focused on the possibility of tax reform and the start of the Jackson Hole symposium of central bankers in Wyoming. The Dow Jones Industrial Average rose about 100 points, or 0.5%, at 21,882, only Boeing Co.'s shares were in negative territory among the Dow's components, off 0.2%. The S&P 500 index climbed 12 points, or 0.5%, at 2,450, while the Nasdaq Composite Index added 28 points, or 0.5%, at 6,300. That puts the technology laden gauge on track to halt a dubious streak of four consecutive weekly declines, with a roughly 1% gain. In an interview with the Financial Times, Gary Cohn, economic adviser to President Donald Trump, said that the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of the reason stocks rose to records after Trump's election victory in November. Meanwhile, investors may also be looking developments in the Gulf Coast after Hurricane Harvey was upgraded to Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 4.8% in low premarket volume trading after the retailer's results late Thursday showed second-quarter sales growth slowed. Earnings were above Wall Street's expectations. Federal Reserve Chairwoman Janet Yellen is slated to deliver a speech at Jackson Hole speech at 10 a.m. Eastern, while European Central Bank President Mario Draghi is scheduled to speak at 3 p.m. Eastern. Check out a live blog of Jackson Hole here.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/25/2017 07:42:33

    Dow climbs 80 points as stock market rallies on tax-reform hope

    U.S. stock benchmarks opened higher on Friday and looked set to log weekly gains as investors focused on the possibility of tax reform and the start of the Jackson Hole symposium of central bankers in Wyoming. The Dow Jones Industrial Average rose 80 points, or 0.4%, at 21,861, only Boeing Co.'s shares were in negative territory among the Dow's components, off 0.2%. The S&P 500 index climbed 9 points, or 0.4%, at 2,447, while the Nasdaq Composite Index added 16 points, or 0.3%, at 6,287. That puts the technology laden gauge on track to halt a dubious streak of four consecutive weekly declines, with a roughly 1% gain. In an interview with the Financial Times, Gary Cohn, economic adviser to President Donald Trump, said that the president was focused on getting tax reform done by the end of 2017. Tax cuts and other fiscal stimulus measures had been part of the reason stocks rose to records after Trump's election victory in November. Meanwhile, investors may also be looking developments in the Gulf Coast after Hurricane Harvey was upgraded to Category 3 storm. In corporate news, Ulta Beauty Inc. shares dropped 4.8% in low premarket volume trading after the retailer's results late Thursday showed second-quarter sales growth slowed. Earnings were above Wall Street's expectations. Federal Reserve Chairwoman Janet Yellen is slated to deliver a speech at Jackson Hole speech at 10 a.m. Eastern, while European Central Bank President Mario Draghi is scheduled to speak at 3 p.m. Eastern.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/24/2017 14:19:50

    Dow, S&P 500 end lower as grocers get whacked

    U.S.stock-market indexes closed slightly lower Thursday, after spending most of the session without clear direction, as investors focused on a symposium of central bankers in Jackson Hole, Wyo. The S&P 500 closed 5.07 points, or 0.2%, lower at 2,438.97, with consumer-staples shares leading the decline. The sector fell 1.3%. Kroger Co. dropped 8%, while Costco Wholesale Corp declined 5%, after Amazon.com Inc. announced late afternoon that its merger with Whole Foods Market Inc. would be completed as early as Monday and that the organic supermarket chain would offer discounts on items, rattling rival grocers. The Nasdaq Composite index closed 7.08 points, or 0.1% lower, at 6,271.33. The Dow Jones Industrial Average lost 28.69 points, or 0.1%, to 21,783.40. Among other individual performers on Wall Street, J.M. Smucker Co. shares tumbled 9.5% as the foods producer lowered its full-year outlook and its first-quarter earnings missed estimates. The Jackson Hole gathering will feature speeches from European Central Bank President Mario Draghi and Federal Reserve Chairwoman Janet Yellen. Separately, insurer shares took it on the chin as Tropical storm Harvey, headed toward the Gulf Coast, was upgraded to a hurricane, which could increase to a Category 3 storm. Travelers Cos. Inc. shares, a Dow component, was among the blue-chip's worst performers, off 1.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 07/26/2017 12:08:07

    Treasury yields slip after release of Fed policy statement for July meeting

    Treasury yields edged lower after the Fed released its policy statement at the conclusion of its two-day meeting. The central bank said it would start reducing its $4.5 trillion balance sheet "relatively soon." As expected, the Fed kept interest rates unchanged. The 10-year Treasury yield fell 2.7 basis points to 2.311%. The 2-year Treasury yield slipped 3.2 basis points to 1.371%. While, the yield for the 30-year bond lost 1.6 basis point to 2.904%. The Federal Reserve offered a note of caution on inflation, saying it was "running below 2%" instead of "running somewhat below 2%." Overall, most of the changes made to the statement was largely anticipated. The Federal Reserve has been loathe to make significant tweaks to policy language on meetings without a press conference.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 07/13/2017 09:02:35

    ECB's Draghi to attend Fed's Jackson Hole conference for first time in 3 years: WSJ

    European Central Bank President Mario Draghi is scheduled to address the Federal Reserve's Jackson Hole conference in August, marking his first speech at the high-profile gathering in three years, The Wall Street Journal reported, citing a person familiar with the matter. The speech is expected to provide a further sign the ECB has growing confidence in the eurozone economy, the report said. The speech would come less than two weeks ahead of the ECB's Sept. 7 policy meeting. According to the report, ECB officials say the bank is likely to signal at that meeting that its asset-buying program will be gradually wound down in 2018. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 07/12/2017 08:14:57

    Bank of Canada makes first rate hike in 7 years

    The Bank of Canada, as expected, raised its overnight interest rate by a quarter of a percentage point to 0.75% on Wednesday. This was the first rate hike in seven years, making the Bank of Canada the first major central bank to join the Federal Reserve in raising rates. The Bank of Canada's decision was driven by its confidence in its outlook for faster growth in the economy. Shortly after the decision, the Canadian dollar rallied, with the U.S. dollar trading at C$1.2832, down 0.7% from C$1.2917 on Tuesday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 07/06/2017 10:21:11

    U.S. stocks fall as central banks signal QE end

    U.S. stocks traded firmly lower Thursday as central banks around the globe were indicating a desire to exit from ultra-easy monetary policies that prevailed during the heart of the 2008-'09 financial crisis. The Dow Jones Industrial Average fell 0.4% at 21,391, the S&P 500 index slipped 0.5% at 2,420, while the Nasdaq Composite Index tumbled 0.6% at 6,115, after posting Wednesday's best performance among the U.S. equity benchmarks. All three benchmarks were off their lows of the session in midday trade. Wall Street has closely followed recent central bankers' comments about the strength of the global economy, with recent remarks from the European Central Bank lifting expectations that policy makers may be ready to close a chapter in longstanding monetary-easing programs, which have supported prices in bonds and stocks around the world. Minutes from the ECB released Thursday indicated that the central bank was worried about how best to communicate increasing confidence in the eurozone economy without roiling markets. Those minutes, coming after the Federal Reserve's minutes on Wednesday, helped to drive bond prices lower and yields higher. The 10-year German bond yield hit an 18-month high at 0.54%, while the 10-year Treasury note climbed to 2.38% on the day. On the economic front, a reading of private-sector employment showed that employers added a seasonally-adjusted 153,000 jobs during the month, below the 180,000 jobs that a consensus of economists had forecast. Meanwhile, initial jobless claims in the period between June 25 and July 1 increased 4,000 to a seasonally adjusted 248,000. Economists use these numbers to get a feel for the official nonfarm-payrolls report due on Friday, with the consensus estimate at 179,000 new jobs created in June. Later in the morning, the Institute for Supply Management report services was at 57.4 in June, compared with 56.5 expected. A reading of 50 indicates expansion. In corporate news, shares of Tesla Inc. extended Wednesday's decline after the electric-car maker's Model S failed to receive a top safety award. Shares of General Electric slumped after the EU's antitrust watchdog said GE may have misled regulators when the EU was reviewing its $1.65 billion deal with LM Wind Power. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 06/29/2017 11:34:02

    Fed's Bullard: Need strong data to go it alone among global central banks

    LONDON, June 29 (Reuters) - The U.S. Federal Reserve needs to see strong economic data to have the confidence to keep tightening policy while other global central banks are maintaining easy monetary conditions, St. Louis Federal Reserve chief James Bullard said on Thursday.

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