Reuters - Video

EDITION: U.S. | U.K. | IN

Personal Finance

Data drown out Yellen rate talk

Thursday, Mar 20, 2014 - 02:15

Mar 20 - Summary: Stocks rebound as economic data improve without help from housing; 29 of 30 U.S. banks pass Fed's annual stress exam; Nike easily races past estimates; Investors continue love affair with mobile messaging start ups like Tango. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

Markets bounce back after yelling at Yellen for signaling rate hikes could come earlier than anticipated. Thursday's gains just about made up for the previous day's losses, with banks leading the way since they will benefit most from higher interest rates. Speaking of banks, shares of Zion Bancorp rallied more than 3 percent before learning it was the only major bank to fail the Federal Reserve's annual stress test. Also after the bell, earnings from Nike. The athletic apparel company beat sales and profit forecasts and said its order backlog is up 12 percent. Staying with earnings: Lennar sold more homes at higher price tags last quarter. The homebuilder, though, says it's hard to predict what the spring buying season will look like. But sales of previously owned homes continue their slide in February. Sales slumped to a 1-1/2 year low, according to data from an industry trade group. The numbers raise more concern that the traditional uptick during the spring buying season may be muted. Jed Kolko of Trulia says today's potential buyers are more financially restrained than those who bought when housing was coming out of the downturn. SOUNDBITE: JED KOLKO, CHIEF ECONOMIST, TRULIA (ENGLISH) SAYING: "Remember we've come out of a deep recession. Many people lost jobs or became a lot less secure in their jobs and also student debt went up. All these things make it harder to save for or hold on to a down payment. Also, it's been very difficult for many people to qualify for a mortgage. All these factors hold back people who might want to buy." Other data are more upbeat. Manufacturing activity in the Mid-Atlantic states picked up this month… And weekly jobless claims remain close to three-month lows. Tango is the latest mobile messaging company to ride the investing wave. The start-up raised $280 million in new financing, with China's Alibaba putting up the lion's share. The financing comes about a month after Facebook shocked the tech world with a $19 billion offer for WhatsApp. President Obama outlined more sanctions against Russian officials - but there was some tongue wagging in Europe about how far sanctions should go. As for the markets, it was a mixed bag with stocks in the U.K. down by half of one percent.

Data drown out Yellen rate talk

Thursday, Mar 20, 2014 - 02:15

Top News »

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, Jul 16, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, Jun 25, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, Jun 02, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, May 27, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, May 08, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, May 05, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, Apr 08, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, Mar 24, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, Mar 17, 2014 - (7:38)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, Jun 06, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, May 30, 2014 - (1:37)