After Tesla deal, Shanghai to speed up cancellation of foreign ownership limits
Iran vows ‘CONSEQUENCES’ if U.S. undermines Tehran’s oil trade as tensions mount
Austria ready to act at borders if Germany moves on migrants
Rapper Nas invested early in PillPack, Amazon's latest buy
Harley-Davidson to build motorcycles destined for European Union outside of U.S.
Stocks wait-and-see rally ahead of Fed meeting
21 September 2017, 12:15 | Cedric Leonard
Stocks wait-and-see rally ahead of Fed meeting
The Russell 2000 index of smaller-company stocks was up 3 points, or 0.3 percent, to 1,444. The FTSE 100 index of leading British shares was off 0.1 percent.
After pushing the S&P above its 2,500-point milestone last week, investors were holding their fire as they awaited more clues on the timing of the next rate hike from Fed Chair Janet Yellen.
Japan's Nikkei stock index ended 2 percent higher after touching its highest levels since late June, catching up to global equities gains and a weaker yen as Tokyo markets reopened after a public holiday on Monday. Eastern Time. The Dow Jones industrial average edged up 14 points, or 0.1 percent, to 22,385.
The dollar traded narrowly around ¥111.50 in early trading, as a wait-and-see mood grew ahead of the Fed's decision at its two-day Federal Open Market Committee policy meeting through Wednesday.
The Dow closed at a record high on Friday, and so did the S&P 500.
Investors will be keeping a close watch on the U.S. central bank as policymakers have to deal with the fallout from hurricanes Harvey and Irma, which hammered the country and are expected to hit economic growth. After leaving the rate at a record low for seven years after the 2008 crisis, the Fed has modestly raised it four times since December 2015 to a still-low range of 1 percent to 1.25 percent.
"In the short run financials will benefit", said Chad Morganlander, portfolio manager at Washington Crossing Advisors, if the Fed action pushes long-term rates higher relative to short-term rates. American Airlines Group rose 87 cents, or 2 percent, to $45.25.
South Korean shares dipped 0.1 percent, against a backdrop of caution ahead of the Fed meeting as well as continuing tensions on the Korean peninsula.
Besides that, market watchers will keep a close eye on the BOJ policy meeting on Thursday, where expectations are for the central bank to maintain its ultra-easy monetary policy.
Against the US dollar and the euro, the kiwi dropped to 0.7303 and 1.6439 from an early 2-day highs of 0.7342 and 1.6349, respectively.
But economists and Fed officials say the storms will not affect the underlying trend in growth, which has been steady at around two percent in recent years, and activity should rebound later in the year due to reconstruction efforts.
A relatively quiet North Korea and U.S. Secretary of State Rex Tillerson's recent comments on "peaceful solution" also led investors back to riskier assets.
US crude futures were down 1 cent at $49.90 per barrel, within sight of Thursday's almost four-month high of $50.50.
The US dollar bought 111.46 Japanese yen, lower than 111.48 yen of the previous session.
Regarding commodities, oil prices were in an uptrend during the Asian trading, with WTI crude rising by 0.52% to $50.15 per barrel and Brent being 0.13% higher at $55.69.
LA Lakers to retire two Kobe Bryant's jersey numbers
The Lakers are in a rebuild, as they move away from the Bryant era, one of the greatest stretches in franchise history. He tallied 16,777 points, captured two titles, and participated in 10 All-Star when he donned jersey number 24.
Lady Gaga chased her pain for five years
Walsh said she took nine months off before going back to work. "Get well soon gaga , love you", wrote one. Last Tuesday, the singer posted a Tweet that she was struggling with her pain condition.
Turkey Signs Deal To Buy Russian S-400 Missiles
He was referencing the US decision to arm the Kurdish YPG for the fight against ISIS in Syria, despite fierce protest by Turkey . His explanations, however, did not stop the outpouring of criticism from the USA and other members of the military alliance.
Payne in South Korea warns North against 'brinkmanship'
China has once again urged the US and South Korea to halt the deployment of a high-tech missile defense system in South Korea. North Korea says it needs to develop its weapons to defend itself against what it sees as U.S. aggression.
Hurricane Jose twists in Atlantic
Over the weekend it is expected to harmlessly turn north and end up somewhere between Bermuda and The Outer Banks by Sunday. Some restrengthening is forecast to begin on Friday, and Jose will likely become a hurricane again by the weekend.
Equifax Hacked Because of Incompetent Security Chief
Equifax is now at the center of several investigations into how the breach occurred and what took so long to disclose it. However, the vulnerability could have been fixed back in early March when patches became available.
Toy Stocks Mostly Lower After Toys 'R' Us Confirms Bankruptcy
The Wall Street Journal reported that the company was considering filing for Chapter 11 protection in the US Bankruptcy Court. The company has been battling $5 billion in debt and struggling to keep up in an industry increasingly shifting online.
Ark. Lineman Electrocuted in Georgia
Flint Energies reported early Friday that it has restored power to about 30,500 members, with 636 without power. Georgia Power Spokesperson, Holly Crawford, said, "The injured lineman was not a Georgia Power employee".