You are here: Home / Archives for August 2016

White House says it sees a path to approval of Pacific trade deal

August 29, 2016 By

The White House said on Monday it could still win congressional approval of the Trans-Pacific Partnership trade pact before President Barack Obama leaves office, and warned that failing to do so would undermine U.S. leadership in the region. “The president is going to make a strong case that we have made progress and there is a path for us to get this done before the president leaves office,” White House spokesman Josh Earnest told a news briefing ahead of Obama's trip to Asia this week. Obama has made the 12-nation free trade deal the centerpiece of a diplomatic “pivot” to Asia, but the prospects for congressional approval have looked increasingly dim, with both major presidential candidates – Democrat Hillary Clinton and Republican Donald Trump – standing opposed.

See the original post here:
White House says it sees a path to approval of Pacific trade deal

Filed Under: Latest News Tagged With: , , , , , , , , , , , , ,

Wall Street slips in wake of comments by top Fed officials

August 26, 2016 By

U.S. stocks ended modestly lower after a volatile session on Friday, having bounced between gains and losses as investors wrestled with the likely timing of a U.S. interest rate hike following comments from top Federal Reserve officials. The S&P 500 rose after Fed Chair Janet Yellen said the case for raising rates had strengthened but did not indicate when the Fed would act. Yellen told a gathering of central bankers from around the world in Jackson Hole, Wyoming, the U.S. economy was nearing the central bank’s goals of maximum employment and price stability but that future hikes should be “gradual”.

Read more from the original source: 
Wall Street slips in wake of comments by top Fed officials

Filed Under: Latest News Tagged With: , , , , , , , , , , , ,

Weak U.S. retail sales, inflation data dim prospect of Fed rate hike

August 12, 2016 By

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales were unexpectedly flat in July as Americans cut back on discretionary spending, pointing to a moderation in consumption that could temper expectations of a sharp pickup in economic growth in the third quarter. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not raise interest rates anytime soon despite a robust labor market. “Fed members are afraid to come out from under their rocks until growth is sustainably solid and inflation in, near or at their target, and today's reports don't provide them with any comfort that will happen soon,” said Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pennsylvania.

See the original post: 
Weak U.S. retail sales, inflation data dim prospect of Fed rate hike

Filed Under: Latest News Tagged With: , , , , , , , , , , , ,

Wall Street Week Ahead: Again at highs, stocks to take cues from consumer

August 6, 2016 By

Quarterly earnings reports from department store operators including Macy's , luxury goods companies such as Michael Kors and entertainment company Disney will set the tone for Wall Street, with investors also eyeing U.S. retail sales data due on Friday. “The consumer, in our mind, is a lever that could cause equities to trend higher,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis. Recent data has shown solid consumer spending, including higher-than-expected outlays in June as households bought more goods and services.

Original post:
Wall Street Week Ahead: Again at highs, stocks to take cues from consumer

Filed Under: Latest News Tagged With: , , , , , , , , , , , ,