Fed's Powell: Up to 2 rate hikes possible this year
The Fed governor said he sees conditions for an interest rate liftoff as soon as September, and an additional increase in December.
MONEY (MSM)
What matters most for markets' next move
Greece, China, U.S. economic data and technical conditions are all feeding into the market action – but it’s unclear how much or for how long.
U.S. durable goods orders data suggest manufacturing stabilizing
A gauge of U.S. business investment spending plans rose in May, offering a tentative sign of stabilization in the manufacturing sector after activity started weakening in the late summer of 2014. Manufacturing is lagging other economic data, including retail sales and housing, which have rebounded after hitting a soft patch at the start of the year. The Commerce Department said on Tuesday non-defense capital goods orders excluding aircraft, a closely
Tracking the uneven recovery of US housing
Christopher Whalen, senior managing director at Kroll Bond Rating Agency, says the Fed’s policy of near-zero interest rates created substantial bubbles in sectors such as housing.
India unveils plan to boost cashless economy, tackle tax fraud
India has unveiled plans to cut transaction costs for electronic payments, to spur retailers and consumers to use less cash, as part of Prime Minister Narendra Modi’s drive to pull more people into the formal economy and boost public revenue. India is among the most cash-intensive economies in the world, with a cash-to-GDP ratio of 12 percent, almost four times that of markets such as Brazil, Mexico and South Africa,
Greece: We had no choice but to propose 'harsh' reforms
Greece’s economic reforms plan includes “harsh” measures the government would not have proposed had it had a choice, a spokesman said Tuesday. The country this week offered a series of measures, …
Hyundai Motor to release more SUVs in China to regain momentum
South Korea’s Hyundai Motor Co on Tuesday said it began construction on its fifth Chinese plant, in Chongqing, to regain lost momentum in the largest auto market with a new compact car and higher production of sport utility vehicles. Hyundai, which together with affiliate Kia Motors Corp ranks fifth in global sales, has been struggling with slow sales in China partly due to an absence of new SUV models to
Durable goods fall; Walmart's political stand; Olive Garden's real estate
Investors today turn their attention to economic data with the report on durable goods orders. Plus, some major retailers take a stand on the Confederate flag controversy. And how about some real estate with those unlimited breadsticks? We’ll tell you how the owner of Olive Garden plans to raise some much-needed cash.
Greece given 48 hours to reach deal
Greek Prime Minister Alexis Tsipras has 48 hours to bring a deal with his country’s creditors to the finish line and end a five-month standoff over aid that risks splitting the euro.
Dow up triple digits, Nasdaq sets intraday high on Greece hopes
U.S. stocks rallied on Monday as investors remained optimistic on a deal between Greece and its creditors.