Southwest engine failure: FAA orders inspections of more jet engines
Weekly Renishaw plc (LON:RSW) Ratings as of April 21, 2018
Syria envoy says United Nations security team visits alleged attack site
Former mayor Rudy Giuliani joins Trump legal team in Russian Federation probe
OPEC's new price hawk Saudi Arabia seeks oil as high as $100
Fed's Powell sees 'no evidence' the U.S. economy is overheating
03 March 2018, 05:03 | Lionel James
NASDAQ 100 daily chart
In his Congressional testimony on Tuesday, Powell didn't come right out and say Fed policymakers might have to raise rates four times this year (one more than it signaled in December).
Powell noted that in December the balance of opinion on the Fed's policy-making Open Market Committee was for three rises in 2018.
"People are looking to buy gold on dips, so I think it will be supported down at US$1,300", a Hong Kong-based trader said.
"We will not lightly lift it", Powell told lawmakers at a Senate Banking Committee hearing, responding to Senator Elizabeth Warren's call for the agency to stand firm in enforcing the sanctions put in place former Fed Chair Janet Yellen on her last day in office.
Revised data released by the Commerce Department on Wednesday showed slightly slower than previously estimated U.S. economic growth in the fourth quarter of 2017.
They said the key domestic even risk for the local currency would be fourth-quarter capital expenditure figures.
February snapped a 10-month winning streak for the Dow.
Exchange-traded notes also got some of the blame as it was argued that popular ETNs which track the CBOE Volatility Index, or VIX, caused additional volatility in the markets.
In addition, reports covering US auto sales for February are scheduled to roll in throughout the day.
Of the releases this afternoon, pending homes sales was the most notable disappointment. Economists had expected pending home sales to rise by 0.3%.
USA consumer prices increased in January as a gauge of underlying inflation posting its largest gain in 12 months, but a survey showed the euro zone's factory boom slowed a little further in February, pressuring euro zone yields lower.
For the Dow and S&P500 we've seen the first monthly loss since last March previous year, breaking a ten month winning streak, while European markets also lost ground with the DAX making its weakest monthly close since August, and the FTSE100 posting its weekly monthly close since April. WTI Crude Oil prices are down 1.2% trading at $63.28 a barrel.
Australian shares tumbled. The benchmark S&P/ASX 200 shed 42.70 points or 0.71 percent to finish at 5,973.30 while the broader All Ordinaries index ended down 41.60 points or 0.68 percent at 6,075.70.
The ISM non-manufacturing index is expected at 10.00 am ET.
Germany's unemployment decreased notably in February, reports said citing data from Federal Labor Agency on Wednesday. His comments today were very similar to his testimony on Tuesday.
The Fed raised rates three times in 2017.
The rise in disposable income "indicates some dry powder for spending to pick up", said Michael Feroli, chief US economist at JPMorgan Chase & Co. The euro fell to $1.2197 from $1.2202.
In the United Kingdom the pound took a late hit yesterday dropping to its lowest level since mid-January after Prime Minister Theresa May rejected outright the EU's latest draft text on the Irish border issue which stated that in the absence of any agreement to the contrary that Northern Ireland stays in a customs union after Brexit and is subject to all EU rules and regulations. That was in line with expectations and down from -9 in January. In January, the reduction in taxes helped boost the saving rate to 3.2 percent, the highest since August.
"Historically, the dollar loses from trade wars, which underscores our structural bearish views, especially as the ramping up of twin deficits will require global funding over the next few years", said Mark McCormick, head of North American FX strategy at TD Securities in Toronto.
Walmart bans gun sales in their stores for those under 21
Gun-control advocacy groups said voters and corporations are taking the lead on US gun policy , and lawmakers need to catch up. Two 20-year-old Dick's Sporting Goods employees claim they're quitting their jobs over the retailer's new gun policies .
Dropbox Files for IPO, and Other 'Unicorns' Are Watching
There's no word yet on when Dropbox stock will be available on the market, but it plans to trade on Nasdaq with the "DBX" symbol. However, this is almost double the 6.5 million paying users it had just two years ago, highlighting its potential to grow.
Minjee no match for Korda in Thailand
She finished four strokes ahead of Moriya and Lexi Thompson , who will rise to No. 2 in the world. Both her parents played professional tennis, with father Petr winning a Grand Slam title.
Drop in US oil prices
Gasoline stocks rose by 2.5 million barrels, compared with analysts' expectations for a 190,000-barrel drop. Reuters is reporting Brent crude futures eased 6 cents to $67.44 a barrel by 1519 GMT, while U.S.