Economy News
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Federal Reserve to vote on Basel bank capital rules
WASHINGTON - The U.S. Federal Reserve will vote on Tuesday on long-awaited international rules for banks to use more equity capital to fund their business, a critical part of a global drive to make banking safer after the 2007-09 financial crisis.
Factories rebound in June, but hiring down
NEW YORK - Manufacturing expanded last month, rebounding from an unexpected contraction in May, but hiring in the sector was the weakest in nearly four years, which could make the Federal Reserve think twice about how soon to scale back its stimulus.
Mortgage funds hit with worst quarter in two decades
NEW YORK - Funds that focus on U.S. home loans recorded their biggest quarterly loss in nearly two decades as investors fled out of bonds in the past six weeks on fears that less stimulus from the Federal Reserve will push up interest rates.
May construction spending approaches four-year high
WASHINGTON - Construction spending rose to its highest level in nearly four years in May as a sharp rebound in public outlays offset a decline in investment in private nonresidential projects, pointing to moderate economic growth.
Manufacturing grows in June, but hiring down: ISM
NEW YORK - Manufacturing activity grew in June, rebounding from an unexpected contraction the prior month, but hiring in the sector was the weakest in nearly four years, an industry report showed on Monday.
Consumer sentiment ends June to near six-year high
NEW YORK - Consumer sentiment improved in late June, ending the month close to a near six-year high set in May, as optimism among higher-income families rose to its strongest level in six years, a survey released on Friday showed.
Fitch affirms U.S. AAA rating but outlook still negative
NEW YORK - Fitch Ratings on Friday affirmed the United States' top level credit rating at AAA but held the outlook at negative, saying still-elevated debt levels leave the country vulnerable to shocks without more deficit reduction.
Fed's Stein puts focus on September as time to assess QE3
NEW YORK/WHITE SULPHUR SPRINGS, West Virginia - September could be an opportune time for the Federal Reserve to consider scaling back its assets purchase, an influential official of the U.S. central bank said on Friday, as he stressed that the Fed must take a long view of economic progress and not be blinded by the most recent data.
Analysis: Shale oil storm blows U.S. tanker trade out of doldrums
- Thanks to the U.S. shale energy boom, the once-quiet niche of U.S.-flagged oil tankers is in unprecedented flux.
Fed's Lacker says market volatility should not sap U.S. growth
WHITE SULPHUR SPRINGS, West Virginia - Financial markets should brace for more volatility as they digest news the Federal Reserve will scale back bond buying later this year, a senior central banker said on Friday, but this is an understandable adjustment and will not derail growth.
Markets
- U.S.
- Europe
- Asia
- Sectors
| DOW | 14,974.96 |  +65.36 |
+0.44% |
| S&P 500 | 1,614.96 | +8.68 |
+0.54% |
| NASDAQ | 3,434.49 | +31.24 |
+0.92% |
| TR US Index | 146.65 | +0.85 |
+0.58% |
-65.30Sector Summary
| Energy | +48.55% |
| Basic Materials | +148.35% |
| Industrials | +65.87% |
| Cyclical Goods & Services | +67.05% |
| Non-Cyclical Goods & Services | +59.84% |
| Financials | +71.87% |
| Healthcare | +40.09% |
| Technology | +16.29% |
| Telecoms | +115.24% |
| Utilities | +68.27% |
Forecasts for the euro zone depend more on head office location than analysis
Ask an economist a question about the euro zone, and the answer will as much depend on the location of their head office as any analysis of the data. It's been noted before (here, here, and here), but economists and fund managers working for euro zone-based banks and research houses tend to be optimists about the euro zone. Everywhere else - including Britain, North America and the Nordics - they tend to be pessimists.
Market Chatter-Corporate finance press digest
July 2 - The following corporate finance-related stories were reported by media on Tuesday:
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