US stock future indexes are flat after a prepared speech to the U.S. Congress Joint Economic Committee, Federal Reserve (Fed) Janet Yellen warned of the danger of waiting too long to tighten monetary policy. The US dollar index, which tracks the greenback against a basket of six major rivals, was at 100.52, compared to 100.18 ahead of the release.
Here is the current market situation from CNN Money
European markets are mixed. The FTSE 100 is higher by 0.15%, while the DAX is leading the CAC 40 lower. They are down 0.31% and 0.02% respectively.
Looking at the last three columns, the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.
WASHINGTON (Reuters) - The Federal Reserve could raise U.S. interest rates "relatively soon" if economic data keeps pointing to an improving labor market and rising inflation, Fed Chair Janet Yellen said on Thursday in a clear hint the U.S. central bank could hike next month.
LONDON (Reuters) - Battered bonds and emerging market currencies enjoyed some respite on Thursday as the dollar took a breather from a post-U.S. election charge that has taken it to a 13-1/2 year high.
BEIJING (Reuters) - A powerful U.S. senator said he is concerned that state-owned ChemChina, which is buying Swiss crop protection and seed group Syngenta for $43 billion, could use U.S. sovereign immunity laws to shield itself from claims in U.S. courts.
TAIPEI (Reuters) - Uber Technologies Inc [UBER.UL] urged Taiwan President Tsai Ing-wen to let the island's people decide whether they want Uber services in Taiwan, the latest salvo in the wrangle between the authorities there and the global ride-hailing service company.
LONDON (Reuters) - Just hours before Royal Bank of Scotland launched a massive cash call in 2008 to shore up its capital, the bank's senior advisers were still discussing whether its financial figures were potentially misleading for investors, court documents allege.
(Reuters) - Best Buy Co Inc , the No. 1 U.S. electronics retailer, reported a better-than-expected rise in quarterly same-store sales, helped by higher online sales and strong demand for consumer electronics and mobile phones.
NEW YORK (Reuters) - Two weeks before the U.S. presidential election, half of wealthy investors were so fearful of turmoil in the stock markets that they either pulled some of their money out or moved it into more conservative investments, according to a survey by UBS Wealth Management Americas.
Islamic Gold - Important New Dynamic In Gold Market
Next month, 1.6 billion people will likely have a new 'gold investment standard'
Islamic finance market expected to grow to US$5 trillion by 2020
Islamic asset classes have all under performed compared to gold
Gold has risen over 367% in US dollar terms and by more in currencies used in Islamic countries
Gold bullion products may be additionally appealing to Islamic banks due to Basel III rules
New Sharia Gold Standard will impact gold price
By the end of 2016, 1.6 billion people will likely have a new gold investment standard for the first time in modern history. These 1.6 billion people are the Muslims of the world who constitute nearly 25% of the 6.9 billion people on the planet. This new 'gold standard' is the Sharia gold standard developed as part of a three-party collaboration between
Before we get into Janet Yellen's prepared remarks to be delivered at 10am before the Join Economic Committee, which is seen by the market as an opportunity by the Fed chair to signal whether the central bank is likely to raise interest rates at its Dec. 13-14 meeting, here is a framework of 5 key items to look for courtesy of the WSJ.
1. December Signal
All ears will be listening for Ms. Yellen to affirm recent statements from her colleagues that the Fed remains on track for a December rate increase. Officials signaled after their last meeting that they were getting closer to lifting rates, and needed only a little more evidence that the economy was improving to convince them to move next month. She could point to a handful of indicators the Fed has received since its Nov. 1-2 meeting: employers continued to add jobs at a steady clip in October, annual wage gains accelerated at the fastest pace since June 2009 and consumer spending at retail stores advanced at a healthy pace this fall.
2. Election Fallout
Several Fed officials raised concerns before their November meeting about the possibility for market volatility following the presidential election. Many investors were stunned by Donald Trump's victory, but stocks have rallied on hopes that the new administration's policies will boost economic growth along with inflation and interest rates. Still, lawmakers will likely want Ms. Yellen's view of the market's reaction - including a rise in government bond yields.
3. Trump Effect
Ms. Yellen will likely be asked to weigh in on the potential economic effects of Mr. Trump's proposed f ...
Having previously met with Nigel Farage and gotten a congratulatory phone call from Vladimir Putin, together followed by a more cautious, "warning" greeting from China president Xi Jinping, today the Trump story advances with the President-elect meeting his first world leader post the election with Japan's Abe passing through town.
On the surface, the diplomatic talking point are familiar: Abe said on Thursday that he wants to build a relationship of trust when he meets Trump, stressing that the two-way alliance is the core of Tokyo's diplomacy and security. The U.S.-Japan alliance "is the cornerstone of Japan's diplomacy and security. Only when there is trust does an alliance come alive," Abe told reporters before leaving Tokyo, Kyodo news agency reported.
However, before any "cornerstones" are rededicated, there appears to be a problem: as Reuters reports, details about the meeting remain unclear, with Trump's transition team not responding to requests for comment on the meeting. As of last night, Japanese officials said they had not finalized when or where in New York it would take place, who would be invited, or in some cases whom to call for answers. Perhaps Abe will make an appearance at the Trump Tower?
Trump has spurred worries in Tokyo and beyond with his comments on the possibility of Japan acquiring nuclear arms and demands that allies pay more for the upkeep of U.S. forces on their soil or face the possibility of their withdrawal.
"Prime Minister Abe will definitely talk about the importance of the Japan-U.S. alliance and that alliance is not only for Japan and the United States, but also for the entire Indo-Pacific region as well as world politics," Abe adviser Katsuyuki Kawai told Reuters. Kawai said he had spoken to several Trump advisers and lawmakers since arriving in Washington on Monday and had been told "we don't have ...
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