TSX, US stock markets steady ahead of Fed interest rate decision
US crude prices settled down 1.4 percent at $47.72 a barrel, touching their lowest point since Nov 30.
Asian traders moved cautiously Tuesday ahead of a much-anticipated Federal Reserve policy meeting, which they hope will provide clarity on the United States central bank's interest rate plans for the rest the year.
The Straits Times Index was unfazed, gaining 0.44 per cent yesterday, following the 0.21 per cent rise in the Dow Jones Industrial Average last Friday. Investor expectations changed and short-term rates rose.
The price of oil has been slipping on concerns that supplies will outweigh demand.
The stock market has shown little signs of budging even as the options-implied probability of a Wednesday Fed hike increased to a virtual certainty from about 50 percent at the end of February.
Weakness was evident in the energy sector, as crude oil futures extended steep recent losses.
Petroleum-linked shares fell, with Chevron losing 1.2 per cent and Halliburton 3.2 per cent.
The Fed has a remit to control inflation, but also to mintain high levels of employment.
During January-October a year ago, BI cut its benchmark rate six times by a total of 150 basis points (bps) to 4.75 percent. One-year CDs have not paid 1 percent since 2009, according to Bankrate.com. The Russell 2000 of small-cap stocks lost 0.6 percent, double the decline of the S&P 500 index of the largest stocks.
A USA rate hike at this point would serve as a signal that the financial markets are on track to more normal conditions after a prolonged period of abnormally low rates following the Global Financial Crisis.
Expectations began to rise as several Fed officials, including Chair Janet Yellen, spoke in support of raising interest rates sooner rather than later.
The Fed is betting businesses will shrug off the extra cost of borrowing, continue to invest in the U.S. economy and create jobs. That's not happening this time.
Bond-market investors won't be taken by surprise when the Fed raises on Wednesday because it has telegraphed its next rate move effectively.
Barring unexpected outcomes, the widely anticipated rate increase in less than a week would be followed by two more hikes later in 2017, 20 dealers said in the poll.
However, there are still plenty of risks on the horizon for the markets, Piegza said. But with Donald Trump's election victory, the Times said, companies in manufacturing and other industries "have become more confident about the outlook since late a year ago, at least in part because of hopes that tax cuts and other favorable policies will be coming from the new Trump administration and his party that controls Congress". The euro fell to $1.0666 from $1.0692.
In corporate news, Valeant Pharmaceuticals shares tanked in pre-market trade after Bill Ackman's Pershing Square Capital Management said it sold its 10% stake in the company.
The nonpartisan Congressional Budget Office said late Monday that the Republican proposal would result in 24 million more uninsured people over a decade, while trimming the federal deficit by $337 billion. Scotland's first minister, meanwhile, called for a referendum for Scotland to break free of the United Kingdom. The German DAX slipped 0.1%, while France's CAC 40 index rose 0.2% and the UK's FTSE 100 added 0.4%.
Mrs Kelly added that she thought "the best part" of the video was when his wife, Jung-a, came skidding through. He said their first response was to feel mortified and that the BBC would never call again.
Having a confident Koenig hitting from the 3-point line should force defenses to think twice about doubling Happ and Hayes. UW shot 53.8% in the first half (14 of 26) to stay within a point but slumped to 26.7% (8 of 30) in the second half.
The family of the slain officer, who was found dead with 42 wounds to his body, told the ABC it is now a matter for authorities. During the trial, his girlfriend, Sara Connor , who faced the same charge, said she wasn't an active participant in the attack.
Real Madrid vice president Emilio Butragueno added: "We are fully aware of how passionate people are about futbol here in Miami". A Friday press conference on Miami Beach will announce the game and events surrounding it.
Parrikar did not enjoy the majority. "The mandate was fractured but every fraction has been stitched together", he said. Three ministers - Vijai Sardesai, Vinod Palienkar and Jayesh Salgaonkar - are from the Goa Forward Party.
The announcement came after HBO made Game of Thrones fans literally watch a block of ice melt which concealed the premiere date. After the confusion, the show eventually released a teaser trailer revealing that the show will return on July 16 .
According to the New York Times , Pollock learned of the additional video after reading a lengthy report by the St. Brown is then seen leaving the store with the sack but turns around to hand the cigarillos back before exiting.
The release of Mass Effect: Andromeda is only two weeks away, and every day, EA and BioWare tease something new about the game. The demo showcases oodles of never-before-seen gameplay with the focus being the Loyalty Mission for Liam Kosta .
The DeWitt center was put on lockdown for some time while police investigated a non-specific threat of violence. Similar threats have been called in today in Wisconsin, New York and California.
Gov. Wolf announces travel restrictions ahead of snow storm
Plow truck drivers will be out once this storm moves into the area making the interstates and busiest roads a priority. Travel restrictions are expected for I-99 with a 45-mile-per-hour speed limit from Cumberland, Maryland to Bedford.
Minnesota Vikings Sign Datone Jones
The 6-foot-4-inch defender is still listed at 285 pounds by the Packers and could join an already strong Vikings defensive line. House left the Packers for a four-year deal with the Jaguars, but was released by Jacksonville after two years.
Rahul calls for structural changes in Congress
The court said it was not possible to stop the oath-taking ceremony as the Congress has so far done nothing to prove that Mr. Thus, the effective majority now will go down to 30, allowing the BJP to form the next government comfortably.
Ireland U20s Six Nations hopes dealt a blow against the Welsh
Ireland's Six Nations championship dream is over for another year after Wales won this evening's encounter in Cardiff 22-9. Little offloads, discipline, those sorts of things throughout the 80 minutes that we could control, and we did that today.
The sudden death of Russian Ambassador Vitaly Churkin
He spent over 40 years in the diplomatic service and headed the Russian Mission to the United Nations for more than a decade. The medical examiner investigates deaths that occur by criminal violence, accident or suicide or when the death is sudden.
Court Ousts South Korean President Park Geun-hye
Outside South Korea's Constitutional Court Friday morning, thousands of South Koreans crammed onto the street to await the ruling. A leftish government might well re-open the industrial complex just inside North Korea, but with South Korean firms and managers.
Female Marine 'disgusted' to see photos online
Just the Tip, of the Spear was subject of multiple news stories in 2013 and 2014 by the Marine Corps Times and Task and goal . Recent reports have indicated that active-duty Marines who participated in the group could face felony charges.