World stocks rise, dollar drops as Fed chair boosts rate-cut hopes
A broad index of world stock markets edged higher on Wednesday while the U.S. dollar fell as comments from Federal Reserve Chairman Jerome Powell bolstered expectations for an interest rate cut from the U.S. central bank this month.
U.S. oil firms cut nearly a third of Gulf of Mexico output ahead of storm
U.S. oil producers on Wednesday cut nearly a third of offshore Gulf of Mexico crude output as what could be one of the first major storms of the Atlantic hurricane season threatened production.
Oil prices jump 4.5% on U.S. crude stocks draw, Gulf of Mexico storm
Oil prices rose 4.5% a barrel on Wednesday to their highest level in more than a month after U.S. crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm.
Fed’s Powell bolsters rate cut view on trade, growth concerns
Federal Reserve Chairman Jerome Powell on Wednesday set the stage for the first U.S. interest rate cut in a decade later this month, pledging to “act as appropriate” to defend an economic expansion threatened by trade disputes and a global slowdown.
World stocks rise, dollar drops as Fed chair remarks boost rate-cut hopes
A broad index of world stock markets edged higher on Wednesday while the U.S. dollar fell as comments from Federal Reserve Chairman Jerome Powell bolstered expectations for an interest rate cut from the U.S. central bank this month.
Fed chief calls for Facebook to halt Libra project until concerns addressed
U.S. Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook’s plan to build a digital currency called Libra “cannot go forward” until serious concerns are addressed, comments that pressured the project and dented the price of the origi…
S&P 500 tops 3,000 less than five years after 2,000
The S&P 500, the benchmark index that investors tend to rely on as a proxy for the U.S. stock market, topped 3,000 for the first time on Wednesday.
S&P 500 breaks through 3,000 following Powell comments
The benchmark S&P 500 briefly crossed the 3,000-point mark for the first time on Wednesday after dovish remarks from Federal Reserve Chairman Jerome Powell boosted the case for an interest rate cut later this month.
Volkswagen to start production of Tarek SUV in Mexico in 2020
German carmaker Volkswagen will begin producing the Tarek sport utility vehicle (SUV) at its plant in the Mexican state of Puebla in 2020 and sales will start by the end of 2021, Steffen Reiche, the chief executive of Volkswagen de Mexico said on Wedne…
Many Fed officials saw near-term rate cut, not all convinced: minutes
Many U.S. Federal Reserve officials at their last meeting thought more stimulus would be needed soon if risks to the U.S. economy did not let up, and several others leaned in that direction, records from the meeting showed.
