Friday, 16 November, 2018

Futures lower ahead of Fed meeting

Dow drops more than 300 points Overnight Markets: Wall Street sinks after Facebook leads tech sell-off
Cristina Norman | 22 March, 2018, 02:09

US stocks gained on Wednesday afternoon, ahead of an near-certain interest rate hike by the Federal Reserve, as Facebook Inc's (FB.O) shares reversed course to trade higher and energy stocks got a boost from rising oil prices.

The selloff wiped some US$50 billion off the value of social media giant Facebook, leaving investors on edge as the Federal Reserve prepares to raise U.S. rates for the first time this year.

While markets are sure about the quarter-point hike, they are less confident of what the Fed signals next: three hikes this year as previously forecast by policy makers or four.

Investors were also spooked by signs of a brewing global trade war after the Wall Street Journal reported that China was planning counter-measures against US trade tariffs.

S&P 500 technology stocks, after a fleeting advance at the opening bell, were back modestly in the red, adding to Monday's steep losses when Facebook Inc's data privacy issues hit the sector.

The Nasdaq gained 20.06 (+0.27 percent) to close at 7,364.30, while the S&P 500 finished trading at 2,716.94, up 4.02 (+0.15 percent) for the day.

The Dow Jones Industrial Average rose 7.71 points, or 0.03 percent, to 24,734.98.

In greater China, the Hang Seng Index fell 0.61%, while on the mainland, the Shanghai Composite Index fell 0.31%.

"The economic situation post-tax cuts also justifies a significant shift upwards in the dot plot", he added, referring to fears the Fed's de facto policy forecast chart will signal four rate rises rather than three because of the effects of USA tax reforms.

The US central bank has raised borrowing costs five times since late 2015. Markets are pricing in three rate increases this year, but some worry policymakers might squeeze in a fourth, triggering a bond and equity selloff.

The energy index.SPNY jumped 2.76 percent as crude oil prices hit a six-week high after a surprise decline in US inventories and as concern persisted over possible disruption to Middle East supply.

Concerns about rising U.S. Treasury bond issuance as the government faces a widening fiscal deficit after last year's U.S. tax cuts has seen yields rise this year.

China, according to the Wall Street Journal, was planning counter-measures with tariffs aimed at US agricultural exports from Farm Belt states.

Winners and Losers: Shares of Facebook fell 2.56 percent as the social media company battles accusations that Cambridge Analytica, a private data firm, obtained information on 50 million users without permission.

Fears of a trade war have also weighed on commodity prices, though tensions in the Middle East supported oil prices on Wednesday.

USA crude rose 1.34 percent to $64.39 per barrel and Brent was at $68.47, up 1.56 percent on the day.

Recommended

  • Germany's Merkel Says Solution For Irish Border Crucial To Brexit

    Germany's Merkel Says Solution For Irish Border Crucial To Brexit

    She told parliament she hopes that, at the end of her fourth term, "divisions and polarization (will) have been reduced, perhaps even overcome".
    United Airlines suspends transports of pets in cargo hold

    United Airlines suspends transports of pets in cargo hold

    He said the airline would consult independent experts in pet safety and that the airline is not ending the program. The suspension does not affect pets that travel in United's passenger cabins, which require medical authorization.
    United Kingdom  inflation fell to 2.7 per cent in February

    United Kingdom inflation fell to 2.7 per cent in February

    Today's fall will ease the pressure on squeezed households and substantially reduces the likelihood of another interest rate rise. Higher interest rates achieve that by providing greater scope for rates cuts, and hence monetary stimulus if needed.
  • Apopka-based AR-15 manufacturer Spike Tactical banned from YouTube

    Apopka-based AR-15 manufacturer Spike Tactical banned from YouTube

    With its past subscription-based services, Google has proven that it has yet to build an appealing streaming music platform. Over the coming months YouTube will be adding more devices that you can stream directly from the camera app to YouTube.
    WhatsApp co-founder tells everyone to delete Facebook

    WhatsApp co-founder tells everyone to delete Facebook

    This is not the first time that a former Facebook executive has showed discomfort after leaving the company. Koum continued to lead the company, however, Acton left in order to start his own foundation .
    'Sex and the City' star Nixon to challenge Andrew Cuomo

    'Sex and the City' star Nixon to challenge Andrew Cuomo

    Cynthia Nixon , the Sex and the City star and education activist, has made it official: She intends to challenge New York Gov. An ally of New York City Mayor Bill DeBlasio, Nixon would challenge incumbent Andrew Cuomo with his $30 million war chest.
  • Korean Cultural Performance to Visit Pyongyang Thursday

    Korean Cultural Performance to Visit Pyongyang Thursday

    In 1985, South Korean musicians held their first concert in Pyongyang as part of cultural exchanges. The girls are now looking forward to showing their talents in front of their North Korean fans.
    Many Apps will get Block by Android P

    Many Apps will get Block by Android P

    We'll also show you news and YouTube videos related to your favorite games to help you boost your skills and become a game master. These include Clash Royale, Words With Friends 2 , Bubble Witch Saga 3, Mighty Battles , NYTimes - Crossword, and Paper Football.
    President Trump,

    President Trump, "Drug addiction not our future"

    Monday was Trump's first visit as president to New Hampshire, which has long occupied a special place in his political rise. Trump told the firefighters he's getting a "big response" in Congress for his three-part plan to end the drug epidemic.
  • Self-driving Uber kills

    Self-driving Uber kills

    Elcock encouraged Tempe residents to use crosswalks whenever possible and said it would limit cases like these from happening. The fatality which occurred over the weekend is the first fatality involving the controversial fleet of autonomous vehicles.
    Navratilova lashes out at BBC over pay

    Navratilova lashes out at BBC over pay

    The BBC added that McEnroe is "widely considered to be the best expert/commentator in the sport, highly valued by our audiences". A review commissioned by the BBC found a 6.8% gender pay gap - but "no evidence of gender bias in pay decision-making".
    Male birth control pill shows promise

    Male birth control pill shows promise

    While there may be concerns that a male contraceptive pill wouldn't work because men would forget to take it, study co-author Dr. This recent study for a once-daily pill for men was carried out with groups in Washington and California.

Mississippi's New Abortion Law Is The Most Restrictive In The Nation Mississippi's New Abortion Law Is The Most Restrictive In The Nation Phil Bryant signed the new law , which bans abortion after the 15th week of pregnancy with no exceptions for rape or incest. It says that it performed 78 abortions past 15 weeks in 2017, or about 3% of Mississippi's 2,500 abortions a year ago .

USA government bans Venuzuela Petro transactions USA  government bans Venuzuela Petro transactions The order makes it illegal for Americans or American companies to engage in transactions related to that digital currency. The two, however, were not the top Russian authority to back Maduro .

Syria remains silent amid Israeli revelation of nuclear facility destruction Syria remains silent amid Israeli revelation of nuclear facility destruction Under cover of night, the jets took off at 10:30 pm, flying low to avoid detection and returning at 2:30 am. In his 2010 memoir Decision Points , former US President George W.

Spring normally means snow and cold for Ohio Spring normally means snow and cold for Ohio As we head into early Thursday morning, temperatures will fall into the low to mid 20s and the clouds will gradually clear. Several inches of snow are possible for the higher elevations of the Smokies, starting tonight and continuing Wednesday .

Verdict in fourth fodder scam against Lalu likely at 2 pm today Verdict in fourth fodder scam against Lalu likely at 2 pm today There are six FIRs against Lalu Prasad Yadav out of which judgement has been pronounced in three cases. Yadav was admitted to the hospital on Saturday after complaining of chest pain.

Why Winning New York May Come Down to Fixing the Subway Why Winning New York May Come Down to Fixing the Subway Quinn, who is also gay, added: " Cynthia Nixon was opposed to having a qualified lesbian become mayor of New York City". You and I know that because, unlike Governor Cuomo, you and I are on it everyday", said Nixon.

Trump Criticized For Congratulating Putin On Sunday's Election Win Trump Criticized For Congratulating Putin On Sunday's Election Win White House press secretary Sarah Huckabee Sanders defended Trump's comments on Tuesday. Trump himself has always been reluctant to publicly criticize Putin.

Stormy Daniels passed lie-detector test about Trump affair Stormy Daniels passed lie-detector test about Trump affair Her response was marked inconclusive when it came to whether or not Trump offered her a spot on " The Apprentice ", though. Today, NBC News obtained a copy of the 2011 report.

Ex-Playmate Sues to Invalidate Non-Disclosure Deal over Alleged Trump Affair Ex-Playmate Sues to Invalidate Non-Disclosure Deal over Alleged Trump Affair After signing the contract, McDougal grew frustrated when she did not hear about columns or cover shoots for several weeks. Now, former Playboy playmate Karen McDougal is also suing to be able to get out of an agreement she made to stay silent.

Family of Maryland school shooting victim Jaelynn Willey releases statement Family of Maryland school shooting victim Jaelynn Willey releases statement Mary's County Sheriff Tim Cameron, the school resource officer (SRO) fired a round at the shooter , who fired a round in return. Last month cops investigated threats of a shooting targeting Great Mills High School after rumours circulated on Snapchat.

Del Potro outlasts Federer to win Indian Wells title Del Potro outlasts Federer to win Indian Wells title He closed out the win on his third match point when Federer's forehand failed. "So it should sting, like you said, for a bit". It really could have gone either way, until it became obvious in the third set tie-break that it would go del Potro's.

Epic Games Talks FORTNITE BATTLE ROYALE And Its Move To Mobile Epic Games Talks FORTNITE BATTLE ROYALE And Its Move To Mobile Not only is Fortnite making huge inroads in the PC / console market, but it's racking up some fantastic numbers on mobile as well. You can play with auto-filled squads, but it's a lot better to play with people you know.

Russian Federation election: Vladimir Putin wins by big margin Russian Federation  election: Vladimir Putin wins by big margin Golos, an election-monitoring organization, said it registered more than 1,500 violations in regions across Russian Federation . Student Kirill Belov, 18, said he supports Putin but didn't vote because he thought his ballot would not make a difference.

The race for the Golden Shoe Roberto Firmino has 23 goals in all competitions, with 14 of those coming in the Premier League . To put that in context, it would be the highest goals tally for a 38-game Premier League season.

Defending champs UNC out of NCAA Tournament as Michigan State also tumble Defending champs UNC out of NCAA Tournament as Michigan State also tumble Are you ready? In the meantime, here's a video of head coach Eric Musselman running into the locker room with his shirt off . Their comeback was already epic, but it got that much better when the Titanic music was added to it.