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Janet Yellen

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  • *China shares hit seven-year high on new Silk Road project. NEW YORK, March 30- The dollar rose and global equity markets surged on Monday on merger and acquisition activity among drugmakers on both sides of the Atlantic, while Chinese stocks hit a seven-year high on an ambitious government plan to create a modern Silk Road. Earlier, China unveiled details of an...

  • March 30- Ben Bernanke launched a blog on Monday, giving the former Federal Reserve chairman a new pulpit from which to make an old argument: why interest rates need to be so low. Bernanke, who handed the reins of the U.S. central bank to Janet Yellen last year, has been hitting the conference circuit more in recent months ahead of the planned publication of his book...

  • NEW YORK, March 30- The euro slumped against the dollar on Monday on worries over whether Greece would secure aid before it runs out of cash in three weeks, while the greenback gained versus other currencies on the view the Federal Reserve will raise U.S. interest rates this year. Athens sounded upbeat about talks with its creditors to release funds from its 240-...

  • KEEPING SCORE: The Dow Jones industrial average climbed 263 points, or 1.5 percent, to 17,976 as of 12:07 p.m. Eastern. CONSUMER REBOUND: The Commerce Department said that consumer spending edged up 0.1 percent in February following two straight monthly declines. The National Association of Realtors reported that its seasonally adjusted index of pending...

  • WASHINGTON, March 30- U.S. consumer spending barely rose in February as households boosted savings to their highest level in more than two years, the latest sign that the economy hit a soft patch in the first quarter. Economic growth has been undercut by bad winter weather, a strong dollar, a now-settled labor dispute at busy West Coast ports and softer demand in...

  • WASHINGTON— U.S. consumers spent just slightly more in February even though their income rose by a healthy amount. Consumer spending edged up a tiny 0.1 percent following declines of 0.2 percent in both January and December, the Commerce Department reported Monday. "Households are still flush with the money saved from the big drop-off in gasoline prices and,...

  • *Euro weighed down by uncertainty over Greece. LONDON, March 30- The euro fell on Monday, hurt by uncertainty over whether Greece and its creditors will be able to strike a deal that will help Athens secure funding before it runs out of money by April 20. "Even though euro short positions are at record highs, given the Greek uncertainty and the bias for more monetary...

  • Ahead of the Bell: US consumer spending Monday, 30 Mar 2015 | 6:27 AM ET

    WASHINGTON— The Commerce Department releases its February report on consumer spending, which accounts for 70 percent of economic activity. The report will be released Monday at 8:30 a.m. Eastern. SLOW SPENDING: The expectation is that February spending rose a slight 0.3 percent, according to economists at IHS Global Insight.

  • LONDON, March 30- Gold fell one percent on Monday, down for a second straight session as the dollar climbed on increasing prospects that the Federal Reserve may start raising interest rates gradually this year. "It seems the market is once again focusing on the Fed raising rates," Deutsche Boerse's MNI senior analyst Tony Walters said. Gold, which does not pay any...

  • MSCI's emerging equity index rose 0.8 percent, lifted by China stocks jumping almost 3 percent on hopes that more infrastructure spending and policy stimulus will re-energise a cooling economy and boost profits. "China' stocks surged to yet another year-to-date high on the back of market expectations that the PBoC might provide even more monetary policy...

  • Rallying techs help European stocks bounce back Monday, 30 Mar 2015 | 4:15 AM ET

    *Lafarge drops as two Holcim shareholders reject revised deal. U.S. tech stocks climbed on Friday after news that Intel Corp is in talks to buy fellow chipmaker Altera Corp in a deal likely to top $10 billion. Intel shares jumped 6.4 percent while Altera shares surged 28.4 percent.

  • *Gold pulls further away from 3- week high as dollar gains. SINGAPORE, March 30- Gold dropped for a second straight session on Monday, slipping further from a three-week high, as the dollar climbed after Federal Reserve Chair Janet Yellen signaled the U.S. central bank may be on course to raise interest rates later this year. Spot gold fell as much as 1 percent to...

  • *Euro weighed down by uncertainty over Greece. LONDON, March 30- The euro fell on Monday, hurt by uncertainty over whether Greece and its international creditors will be able to strike a deal that will help Athens secure funding before it runs out of money by April 20. "Even though euro short positions are at record highs, given the Greek uncertainty and the bias for...

  • Global stocks get European economy and Yellen boost Monday, 30 Mar 2015 | 3:03 AM ET

    KEEPING SCORE: In Europe, Germany's DAX was up 1.3 percent at 12,024 while the CAC-40 in France rose 1 percent to 5,084. The FTSE 100 index of leading British shares was 0.3 percent higher at 6,877. Wall Street was poised for a solid start with Dow futures and the broader S&P 500 futures 0.5 percent higher. A survey from the European Commission showed economic...

  • *Shanghai, Hong Kong stocks lead on stimulus hopes. SYDNEY, March 30- Asian stock markets rose on Monday, with China stocks nearing a seven-year peak on hopes for more infrastructure spending and policy stimulus, while oil prices suffered further from excess supply. The Hang Seng China Enterprises Index also added 3.5 percent after China allowed mainland mutual...

  • JGBs slip in volatile trade before fiscal year-end Monday, 30 Mar 2015 | 1:03 AM ET

    TOKYO, March 30- Japanese government bond prices slipped across the board on Monday in volatile trade as investors closed their books before the March 31 domestic fiscal year-end. Traders said liquidity, already low due to the Bank of Japan's regular debt buying operations, has dried up further as many investors opted for the sidelines before the fiscal...

  • HONG KONG— Asian markets were mostly higher Monday as investors digested Fed chief Janet Yellen's comments signaling U.S. interest rates were expected to rise sometime this year but when they did they would do so gradually. KEEPING SCORE: Japan's benchmark Nikkei 225 index was up 0.5 percent to 19,378.52 while South Korea's Kospi gained 0.3 percent to...

  • MELBOURNE, March 30- London copper steadied on Monday as last week's run up in prices blunted consumer buying, while liquidity thinned ahead of a holiday-shortened week in many countries. Copper prices last week hit their highest in nearly three months at $6,294.50 a tonne. *China's President Xi Jinping said he hoped the country's annual trade with the nations...

  • SINGAPORE, March 30- Gold slipped for a second straight session on Monday, pulling further from a three-week high, after Federal Reserve Chair Janet Yellen signaled that the U.S. central bank may be on course to raise interest rates later this year. *Spot gold was off 0.2 percent at $1,196.98 an ounce by 0036 GMT, after rising for a second week in a row last week.

  • *Asia shares subdued as Wall St ekes out slight bounce. SYDNEY, March 30- Asian markets got off to a. MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.2 percent.