News Highlights : Top Global Markets News of the Day
|09/16/2020 | 05:15pm|
Fed Sets Higher Hurdles for Rate Increase
The central bank pledged to support the economic recovery by raising the bar for increasing interest rates-and by signaling it expected to hold rates near zero for at least three more years.
Stocks Lose Steam but Dow Ekes Out Gain
The Dow eked out a fourth-straight gain after the Federal Reserve signaled it was ready to keep interest rates near zero for three more years and underpin the economy even in the face of inflation. Still, stocks lost some of their steam in the last hour of trading.
Home Builder Stocks Rise as Confidence Hits New High
A monthly housing market gauge measuring builder confidence has hit its highest point in 35 years.
U.S. Retail Spending Recovering at Slower Pace
The increase in retail sales marks an eased pace from earlier in the summer when spending rebounded sharply from steep declines that occurred early in the coronavirus pandemic. Consumers spent more on clothing, electronics and furniture in August as students went back to school.
Factory Workers Stay Home to Watch Their Children
With child-care options remaining limited during the pandemic, some U.S. manufacturers are struggling to keep workers on the assembly line.
Should You Buy Stocks Because Interest Rates Are Low?
Don't fight the Fed...or the ECB, the BOJ, etc. Central banks have cast a spell over stocks this year, but their magic alone isn't what keeps the rally going.
EU Proposes Higher 2030 Emissions Target, Green Bonds
The European Union proposed cutting 55% of the bloc's emissions by 2030, up from its previous goal of 40%, and said hundreds of billions of euros worth of green bonds should help fund the target.
SEC Bolsters Safeguards Against Penny-Stock Fraud
The Securities and Exchange Commission is beefing up protections against fraud and manipulation in the lightly regulated market for over-the-counter stocks.
CDC Chief Predicts Covid-19 Vaccine May Not Be Generally Available Until Next Summer
President Trump disputed that timeline, though, saying Robert Redfield may have been confused. Meanwhile, Hurricane Sally in the Southeast and wildfires in the West also open new avenues for the coronavirus to spread.
Opendoor's SPAC Merger Doubles Down on iBuying
Venture capitalist Chamath Palihapitiya is wagering on home-flipping platform Opendoor Labs, and his enthusiasm has rubbed off on public investors-but will it last?