Global markets mostly higher as Jackson Hole in focus

27 August, 2017, 01:29 | Author: Franklin Nunez
  • Wyoming was first chosen as the venue because of its fly fishing and has lured big names including Janet Yellen chairwoman of the US Federal Reserve

Overall, the Fed chair said, "any adjustment to the regulatory framework should be modest and preserve the increase in resilience" in a financial system she said is now better able to weather future shocks.

U.S. stocks rose on Friday (Aug 25), with petroleum-linked shares lifted by energy outages related to Hurricane Harvey as Federal Reserve Chair Janet Yellen steered clear of monetary policy during her much anticipated address.

The dollar slumped in London during noon trading after Federal Reserve chairwoman Janet Yellen offered little more than a defence of post-crisis financial regulation in her eagerly anticipated speech at the Jackson Hole symposium.

New Zealand's two-year swap rate was unchanged at 2.17 percent while 10-year swaps fell 2 basis points to 3.13 percent.

United Nations condemns terrorist attacks in Myanmar's northern state
Mohammed Shafi, who lives in a Rohingya refugee camp in Bangladesh, said his cousin in Myanmar had told him of the trouble. Kamal Hossain, a Rohingya elder in another, camp, said almost 700 families had arrived in Bangladesh in the past 11 days.

Yellen's speech at the annual meeting of central bankers in Jackson Hole, Wyoming, focused on financial stability while giving no hint on monetary policy, leaving the prospect of more interest rate hikes up in the air. The dollar index, which measures the U.S. currency against a basket of peers, fell 0.5 per cent to 92.80 after the address.

"It was a reminder to Trump, the Trump administration, that they need to be very thoughtful with policy and who they choose to replace Janet Yellen". It waited another year before increasing rates again in 2016.

Trump on Wednesday threatened to shut down the government if funds were not secured to build a Mexico border wall, comments that came as a late-September deadline looms for US officials to raise the debt ceiling or risk a default.

Carefully scripted remarks by the world's leading central bankers on Friday left the dollar lower but had a muted effect on global stocks, while crude prices rose as monster Hurricane Harvey approached the US Gulf Coast oil hubs.

Trump begged senator not to pass Russian Federation sanctions bill
McConnell has made sharper comments in private, describing Mr. Trump as entirely unwilling to learn the basics of governing.

On the US economic front, the Commerce Department released a report showing a sharp pullback in durable goods orders in the month of July. Stocks fell in Asia overnight, but European indices were all in positive territory on Thursday. Ex-transportation orders had been expected to rise by 0.4 percent. The index came in at 107.9 against the forecasts of 106.8.

Meanwhile, sales of previously-owned homes declined to their lowest level in a year in July to a seasonally adjusted annualized rate of 5.44mln units, down 1.3% from June's downwards-revised figure.

For the week, the Dow rose 0.65 percent, the S&P 500 gained 0.72 percent and the NASDAQ climbed 0.79 percent.

The euro was flat at $1.1804, after climbing on Wednesday on surveys that showed German and French manufacturing and services were expanding.

Venezuela's Maduro asks for Pope's help against U.S. invasion threat
Varela said President Nicolas Maduro's increasingly authoritarian rule is likely to force more Venezuelans to flee home. The probe will examine allegations of corruption, extortion, association to commit a crime, and money laundering.

Recommended:

  • Reborn Nadal and Federer eye US Open swansong

    His impressive win over Djokovic in May's Rome Masters final had him installed as a dark horse for the French Open . Federer , with his eyes set on the 2017 US Open , is excited to team up with Nadal, his longtime foe.
    Samsung heir given five years in prison for bribery

    Samsung heir given five years in prison for bribery

    Samsung heir's fate had been in troubling waters even since Park was taken down as the President earlier this year. After months of legal battles and courtroom drama, Samsung Vice Chairman and grandson of Samsung founder, Jay Y.
    SpaceX launches FORMOSAT-5 satellite

    SpaceX launches FORMOSAT-5 satellite

    The teams in Taiwan and in the United States congratulated each other excitedly for FORMOSAT-5 launched into space successfully. Moments before the first-stage touchdown the video link to the vessel froze, then reappeared and showed the rocket standing.
  • Canceled rally does little to stem San Francisco fears

    Canceled rally does little to stem San Francisco fears

    That rally saw a woman killed after an avowed white supremacist rammed his vehicle into a group of anti-racism counter-protesters. Scott Wiener, who represents San Francisco , said in a tweet that the press conference would be "illegal as they have no permit".
    Mattis vows support for Ukraine but stops short of promising weapons

    Mattis vows support for Ukraine but stops short of promising weapons

    The two dozen troops are part of a multinational training group in Ukraine. Secretary of State Rex Tillerson already has visited Kiev to show support.
    Final Fantasy XV and Assassin's Creed Collaboration Announced

    Final Fantasy XV and Assassin's Creed Collaboration Announced

    It looks like the whole town is in on the gag, as the main metropolis of Lestallum is celebrating this most murderous of holidays. It was there that the teams behind Assassin's Creed and Final Fantasy expressed respect and appreciation for each other's work.
  • Tottenham Hotspur shouldn't worry about Chelsea boss Antonio Conte's Wembley warning

    Tottenham Hotspur shouldn't worry about Chelsea boss Antonio Conte's Wembley warning

    "He was the best keeper last season in the Championship, at Rayo Vallecano in Spain, and I think there's no doubt about signing him and creating more competition in our goal".
    'Cheers' Actor Jay Thomas' Cause of Death Revealed

    'Cheers' Actor Jay Thomas' Cause of Death Revealed

    Born Jon Thomas Terrell in Kermit, Texas, Thomas grew up in New Orleans , graduating from Jesuit High School. The " Late Night " Christmas tradition, which started in 1998, would go on until 2014.
    Trump applauds Boston protesters for 'speaking out against bigotry and hate'

    Trump applauds Boston protesters for 'speaking out against bigotry and hate'

    Boston police arrested 27 people in protests surrounding the "Free Speech" rally , Police Commissioner William Evans said . A majority of people arrested Saturday, 33 in total, were charged with disorderly conduct and public disorder charges.
  • Become the Night King with Facebook's new AR app

    Become the Night King with Facebook's new AR app

    By creating a Night King video, you'll join the ranks of Thrones' very own Kristofer Hivju - who plays Tormund Giantsbane. The second time he goes back into Bran the Builder, the Stark predecessor who built the wall and created Winterfell.
    Trump's Executive Order For Venezuela Targets Maduro's Financing

    Trump's Executive Order For Venezuela Targets Maduro's Financing

    Until now, the U.S. has taken care to target individuals within Venezuela's evolving dictatorship. McMaster said Friday that Vice President Mike Pence's trip through South America was successful.
    Kushner meets Netanyahu to revive Israeli-Palestinian peace talks

    Kushner meets Netanyahu to revive Israeli-Palestinian peace talks

    Three months later, Netanyahu and Abbas face different political realities, and Trump's ability to jump-start negotiations may be dwindling.


Popular

Is 'The Batman' in The DCEU? Matt Reeves Clarifies His Comments
For a film that hasn't even started shooting yet, there's been a hell of a lot of confusion over the a year ago about The Batman . Now however that all appears to have disappeared, with DC opting to release a Joker and Harley Quinn movie instead.

Apple gets $208M in tax breaks to build in Iowa
The Cupertino-based iPhone giant is earmarking US$1.3bn for the construction of a new data centre in Waukee, Iowa. Apple did not respond to a question on how many data centers it has in the United States.

LeBron James defends Isaiah Thomas, criticizes fans for burning jerseys
In exchange for Irving, the Celtics sent Isaiah Thomas , Jae Crowder , Ante Zizic , and the 18 Nets pick to Cleveland . Kyrie Irving has three years and US$60 million (AU$76 million) left on the five-year extension he signed in 2014.

Ariz. business group opposes Trump on NAFTA
During the 2016 campaign, he blasted NAFTA as a bad deal for American workers, blaming it for an exodus of U.S.jobs to Mexico. Many smaller US companies have been able to compete and survive by outsourcing production of some components.

'Handful' of national monuments may change per Interior Secretary's recommendations
White House officials speaking not for attribution said they will release a final report in the coming weeks. The official was not authorized to publicly discuss a draft report and insisted on anonymity. "Interior Sec.

Apple downshifts it's self-driving vehicle project
The company doesn't seem to have ambitions to offer their own Apple vehicle in the immediate future. Apple was first reported to be working on the Project Titan in full throttle back in 2014 and 2015.

In Chaotic Meeting, Charlottesville Votes to Shroud Statues
The University of Virginia Medical Center said it treated 19 patients - a number the city repeated in a news release. Those are questions that the city council should ask "as the ultimate authority over the city manager", he wrote.

Iran strongly condemns Saudi airstrike on residential building in Yemen
The attacks led Saleh to back the Houthis, despite him having fought viciously against the Houthi movement when he was in office. They said an estimated number of 60 were killed in the strikes on Wednesday morning.

U.S. imposes new sanctions on Chinese, Russian firms over North Korea
OFAC also designated two companies and an individual for their involvement in the exportation of workers from North Korea. Treasury's new sanctions will not alleviate the ongoing conflict between the United States and North Korea .

See the new tessellation tech in PlayerUnknown's Battlegrounds
Ground and terrain textures are about to look a whole lot better in PlayerUnknown's Battlegrounds thanks to tessellation. Players will be able to land on top of the tall buildings when parachuting in at the start of a PUBG match.