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Fed Stands Pat On Rates, Will Reduce Balance Sheet In October
22 September 2017, 10:33 | Virginia Santiago
Several packaged food companies also declined. Brent crude, used to price worldwide oils, gained 55 cents to $55.69 per barrel in London.
Canadian Natural Resources rose 2.4 per cent to C$41.44, while Encana Corp advanced 4.5 per cent to C$13.69. Hong Kong's Hang Seng index added 0.4 percent. However low inflation remains a concern, with Yellen admitting the Fed does not fully understand why price growth hasn't picked up pace, still well short of the central bank's two-percent target. Japan's Nikkei 225 index was up 1.72 percent just after midday. "But it also cut its long-term interest rate projection and this has somewhat slowed the dollar's gains versus the yen by causing the USA yield curve to flatten", said Yukio Ishizuki, senior currency strategist at Daiwa Securities in Tokyo. But they predicted that inflation would not rise above that 2 percent target, even though they expect unemployment to remain well below the level that would usually result in inflation. It was up 0.7 per cent for its biggest one-day increase since Aug 4 at 92.426.
"You just had that little momentum spurt after it went through 2,500 but it is kind of running out of steam and is going to bide its time until Wednesday, when they listen to (Fed chief) Janet" (Yellen), said Ken Polcari, director of the NYSE floor division at O'Neil Securities in NY.
The New Zealand dollar gave up earlier gains after the US Federal Reserve announced a plan to start shrinking its balance sheet and signalled one more rate hike later this year, remaining rangebound ahead of Saturday's general election.
The major USA stock indexes closed mostly higher Wednesday, led by gains among banks as bond yields rose.
The Fed said it would start winding down its vast, $4.5 trillion balance sheer in October. That helped put more downward pressure on interest rates that supported borrowing and helped boost the economy.
Injuries: TJ Watt (groin) questionable to return
Then again, he was playing against the Saints defense , and the Steelers have a solid front seven that can take the run game away. The Vikings' aggression on special teams didn't come without some regret. "When we scored, I saw the (play) clock go to 40".
Interest rate futures traders are now pricing in a 72-percent chance of a December rate hike, up from roughly 60 percent before the statement, according to the CME Group 's FedWatch Tool. They now expect there will likely be two hikes, down from three. What wasn't known was the tone.
Both the Dow and S&P 500 fell following the Fed statement but reversed those losses to end the session slightly higher and add to a string of closing records. The Nasdaq composite index edged down 5.28 points to 6,456.04.
The S&P's financial sector ended 0.6 per cent higher as banks benefit from higher rates. Australia's S&P/ASX 200 fell 0.1 percent.
In late NY trading, the euro fell to 1.1895 dollars from 1.1998 dollars in the previous session, and the British pound lost to 1.3485 dollars from 1.3523 USA dollars in the previous session.
Advancing issues outnumbered decliners on the NYSE by 1,809 to 968. USA stocks were little changed.
Hurricane Irma: What you need to know
Irma is expected to drop 2 to 5 inches of rain across SC and northern portions of Georgia, Alabama and Mississippi. Miami International Airport, one of the busiest in the country, halted passenger flights through at least Monday.
Has Winter come to Bitcoin with exchange closures in China ?
Thursday's news caused the price of the digital currency to fall by $644, or 16.6 percent, to $3,230, according to CoinDesk . Although there's a terrific arbitrage opportunity, removing bitcoin from a Chinese exchange would prove hard at this stage.
Five Questions Ahead Of Packers-Falcons
Clinton-Dix said . "You know the secret formula to the Krabby Patty?" Atlanta is on the other end of the spectrum. They'll square off on Sunday Night Football in a cross-division matchup that could have postseason implications.
Hazard Starts - Chelsea's Probable 3-4-3 XI vs Qarabag
The likes of Alvaro Morata have appeared in all of Chelsea's games so far, as well as featuring for their country on global duty. I think that many will agree that it is too early to draw any conclusions and conclusions on the championship of England.
Apple's 'iPhone X': Taking It on the Forehead
Twitter users made apparent good use of the line "I declare bankruptcy" from U.S. comedy The Office to poke fun at the £999 price. Priced from $999, the iPhone X will be available to preorder from 27 October 2017 and will begin shipping 3 November 2017.
Siemian, Broncos survive late scare, defeat Chargers, 24-21
Only one of those could be a factor Monday, with the National Football League still refusing to reward more points for gymnastics. Los Angeles might not know how to win games, or just might not be lucky, but this is a team with the talent to be great.
Colts to switch to Brissett at QB
In Week 2, Brissett will be the leader under center for the Colts as they take on Carson Palmer and the Arizona Cardinals . Last time Arizona coach Bruce Arians was on Indy sideline, he welcomed back Colts coach Chuck Pagano from leukemia battle.
Old iPhone apps to be killed off by Apple iOS 11
In order to keep your phone secured from unwanted malware attacks, Apple took this bold step towards its popular App Store . A "Not on This iPhone " section allows you to browse through the applications you have installed on previous Apple devices.