Cautious Fed Sends Stocks to Record Highs, Dollar Dips
15 July, 2017, 07:18
Final data from the Ministry of Economy, Trade and Industry showed that Japan's industrial production declined more than estimated in May.
The labour department reports consumer price inflation for June at 8.30am in Washington on Friday, and the figures could either round out four months of sub-par progress or suggest that the slowdown is - as the Fed has been saying - transitory.
Weak vehicle sales, which have been down in the first half of the year, were not to blame this time: excluding that volatile category, sales were still down 0.2 per cent. Petrol stations, however, saw a 1.3 per cent drop in sales last month, a time when Americans traditionally hit the road for summer holidays, pushing petrol prices higher.
In the 12 months through June, the CPI increased 1.6 per cent - the smallest gain since October 2016 - after rising 1.9 per cent in May.
United States debt yields are lower with the 2 year down about -3 bp and the 10 year down about -4 bps now (from down about -1 bp before the number). The core CPI increased 1.7 per cent year-on-year after a similar gain in May.
As a reminder, the FOMC has a target of 2.0% to 2.5% for annualized inflation. "At present, with a federal funds rate at a range of 100 to 125 basis points, I would like to see some greater evidence that we are making progress toward meeting our 2% inflation objective in the medium term", Kaplan wrote in an essay.
As a result, the U.S. dollar fell, briefly touching a 10-month low against a basket of currencies. Bond prices move in the opposite direction of yields.
Fed Chair Janet Yellen told lawmakers on Wednesday that the recent cool off in inflation was the result of "a few unusual reductions in certain categories of prices" that would eventually drop out of the calculation.
The Fed is projecting one more interest rate hike for this year, which economists expecting it to come in December. Food prices were unchanged after rising for five consecutive months.
Prices for new vehicles decline for the fifth successive month while the run of declines for used vehicles extended to six months.
Economists polled by MarketWatch had forecast a 0.1% increase in the CPI.
Americans also paid more for hospital visits and prescription medication, as well as motor vehicle insurance. Retail sales of gasoline were down 1.3%, based largely on lower prices. Food and beverage stores were down 0.4%, department stores were down 0.7% and restaurant sales were down 0.6%.
Economists had forecast the CPI edging up 0.1 percent last month.
The soft domestic demand could also temper expectations of strong acceleration in economic growth in the second quarter.
But the view that age determines when boom turns to bust has come under question in an era of abnormally low interest rates and at a time when central bankers are struggling to combat anaemic readings of output, productivity and wage growth.
TOKYO, July 14 (Reuters) - The dollar was little changed against a group of peers early on Friday, as currency investors remained cautious ahead of US inflation data due later in the session, which is expected to set the greenback's near-term direction. It has declined from a high of 98.5 in January.
She was the wife of director Roman Polanski, and Tarantino's film is reportedly centered on her death. In a bloody killing spree in August 1969, Manson and his followers killed seven people in two days.
The average is taken over a specific period of time, like 10 days, 20 minutes, 30 weeks, or any time period the trader chooses. The stock had opened the regular trading at $74.67 and managed a 1.5% price change to reach $75.05 through the close.
Before voting on final passage, 27 Republicans joined Democrats to turn aside a contentious amendment crafted by Rep. The 2018 NDAA represents a almost $50 billion increase over the former President's budget proposal .
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On average, equities research analysts forecast that Intel Corporation will post $2.86 earnings per share for the current year. Clear Harbor Asset Ltd Liability holds 14,301 shares. 34,859 were reported by Lakeview Capital Prns Limited Liability Company.
Kenseth had a solid round just days after it was announced he would be out at Joe Gibbs Racing at the end of the season. Larson will start last in the 39-car field, the second race in a row he's had to do so after failing inspection.
Mr McNabb, aged 60, has been the global chief executive of Vanguard since 2008 and will remain chairman of the company's board. Buckley has been with the firm since 1991 when he joined as an assistant to the chairman at the time, John Bogle .
Creator and director Brad Bird said the film will come out next summer, and talked about the story of the sequel a bit. One of the unique things about the Incredibles is it's really a story of a family set in the world of superheroes.
Another natural disaster with a magnitude of 3.8 was recorded near Stroud at 9:04 a.m., and a 3.7 occurred at 9:17 a.m. Various people on Twitter have claimed to have felt the quake in Oklahoma City and Tulsa as well as Stillwater.
The formula is calculated by looking at companies that have a high earnings yield as well as a high return on invested capital. Warren Averett Asset Mngmt Ltd, a Alabama-based fund reported 506 shares. 1,273 were accumulated by Edge Wealth Mngmt Ltd Co.
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