Flat Wall Street propped up by gains for bank stocks
U.S. stocks were flat on Friday, as declines in real estate and utilities were offset by gains for banking stocks, driven by a rise in 10-year Treasury yields above 3 percent.
Fed’s Evans sees one or two more rate hikes this year
Federal Reserve Bank of Chicago President Charles Evans said on Friday that two further interest-rate hikes this year by the U.S. central bank would not be surprising, given the strength of the economy.
U.S. health secretary backs proposed FDA crackdown on e-cigarettes: CNBC
U.S. Health and Human Services Secretary Alex Azar told CNBC on Friday he was “completely in support” of the Food and Drug Administration’s proposed crackdown on e-cigarettes.
Allergan says aesthetics unit revenue may double by 2025
Allergan Plc said it expects revenue at its medical aesthetics unit to grow to $7 to $8 billion by 2025, even as it faces increasing competition for its blockbuster wrinkle treatment, Botox.
U.S. business inventories increase solidly in July
U.S. business inventories rose solidly in July, boosted by a larger than initially estimated increase in the stock of motor vehicles.
Fed policy to turn mildly restrictive in 2019, Evans says
The Federal Reserve’s interest-rate hikes will begin to drag on U.S. economic growth and employment by next year, a U.S. central banker said Friday, as the level of borrowing costs appropriately turns “mildly restrictive” after more than a decade of ac…
Metro puts struggling Real hypermarket chain on the block
German retailer Metro AG plans to sell its struggling Real hypermarkets and is confident of interest in the chain, though bankers played down talk it might attract Amazon and a price tag of up to 1 billion euros ($1.2 billion).
Oil prices set for weekly gain after steep drop
Oil prices were broadly flat on Friday with the market exposed to bullish and bearish sentiments as it clawed back some territory after falling by the most in a month in the previous session.
Fed’s Evans says premature to read much into yield curve
A narrowing gap between long-term and short-term borrowing costs does not necessarily signal a coming recession, Federal Reserve Bank of Chicago President Charles Evans said on Friday.
China’s export-dependent provinces scramble for shelter from U.S. trade storm
China’s export-dependent cities and provinces are scrambling to provide relief to exporters, stabilize employment and avert the possibility of social unrest as an intensifying trade dispute with the United States threatens to further erode business.
