Doug Wolford, Convergent Wealth President & COO, says more people are paying attention to Janet Yellen than are "keeping up with the Kardashians." Craig Columbus, First Allied Asset Management CEO, weighs in.» Read More
Federal Reserve Chair Janet Yellen will have some good news to tell Congress this week about the health of the labor market.
LONDON, July 15- The yen eased on Tuesday after the Bank of Japan sounded some cautious notes on growth but stopped well short of hinting at a new bout of money-printing.
*Software AG down 14 pct after cutting sales outlook. LONDON, July 15- European shares were little changed on Tuesday as a gloomy outlook statement from Software AG was partly offset by strong earnings reports from Scandinavian companies such as H&M.
The price of oil fell below $100 a barrel for the first time since May even as the deteriorating security situation in Libya has raised questions about whether the country can soon increase crude exports. Prices have been falling in recent weeks as worries about supply disruptions from Iraq eased and on the prospect of more supplies from Libya.
TOKYO— Asian stock markets were lukewarm Wednesday after China met expectations of solid but unspectacular growth in the second quarter. Hong Kong's Hang Seng added 0.2 percent to 23,515.47 while Seoul's Kospi shed 0.1 percent to 2,011.75. China's Shanghai Composite rose 0.1 percent to 2,071.97 and Australia's S&P/ASX 200 dropped 0.1 percent to 5,505.50.
WASHINGTON— Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions.
Joachim Fels, chief global economist at Morgan Stanley, discusses the long-term effects of quantitative easing ahead of Fed Chair Janet Yellen's testimony.
*Fed chief to testify to Congress on Tuesday, Wednesday. TOKYO, July 15- The dollar edged up against the yen on Tuesday after the Bank of Japan tweaked its growth forecast lower, although currency moves were small as investors waited for Federal Reserve Chair Janet Yellen's congressional testimony later in the session.
TOKYO, July 15- Japanese government bond prices were mostly unchanged across the curve on Tuesday, with a bounce in Tokyo shares stalling a recent surge that took yields to the year's lows. The bond market's reaction to the Bank of Japan holding pat on monetary policy was limited, as the outcome had been well anticipated.
With expectations for the Fed to remain dovish, even a slight hawkish tone may be a risk for markets, says Nicholas Ferres, Investment Director, Global Asset Allocation at Eastspring Investments.
*Fed Chair Janet Yellen's testimony awaited. *Otsuka soars on new drug application to FDA. TOKYO, July 15- Japan's Nikkei share average climbed on Tuesday with all sectors rising, helped by gains on Wall Street on Citigroup's strong earnings and a merger and acquisition deal in the healthcare industry.
SINGAPORE, July 15- Gold was trading close to its lowest in nearly four weeks on Tuesday, struggling to get past sharp overnight losses from profit-taking and hurt by stronger global equities that dented its safe-haven appeal.
*Gold licks wounds after biggest daily fall since December. TOKYO, July 15- Asian shares were firm on Tuesday after Citigroup's earnings and a fresh round of merger and acquisition activity in the U.S. healthcare industry lifted global share prices.
SEOUL, July 15- U.S. crude futures edged up to over $101 a barrel on Tuesday as intensifying conflicts in Libya and Iraq rekindled concerns of supply disruption from the two OPEC members and projections that last week's U.S. crude inventory fell.
*Fed chief to testify to Congress on Tuesday, Wednesday. TOKYO, July 15- The dollar remained frozen in recent ranges in Asia on Tuesday, as investors awaited Federal Reserve Chair Janet Yellen's congressional testimony later in the session for signals to when U.S. interest rates might head higher.
U.S. Treasury prices edged lower on expectations that Federal Reserve Chair Janet Yellen could take a less accommodative stance on interest rates.
*Concerns ease over Portugal's top bank. Yellen, who will go before the Senate Banking Committee Tuesday to deliver the latest report to Congress on monetary policy, could take a hawkish stance on raising interest rates in response to strong June jobs data, analysts and investors said.
NEW YORK, July 14- The dollar inched up against the Japanese yen on Monday but was little changed against other major currencies as investors awaited congressional testimony by Federal Reserve Chair Janet Yellen on U.S. monetary policy.
With the U.S. and Japanese central banks in the spotlight, it's time to look at the prospects for the Japanese yen, which is stronger this year.
Janet Yellen's strong support of Keynesian economics will likely determine future Federal Reserve policy, the New Yorker reported.