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
*Record closing high on Wall Street lifts Asia. TOKYO, July 17- Asian equities gained on Thursday, lifted by another record-high close on Wall Street, while the euro probed recent lows against the dollar amid speculation the U.S.
SINGAPORE, July 17- Gold was steady near a four-week low on Thursday, trading just below $1,300 an ounce, as stronger equities and data dimmed its safe-haven appeal, while investors weighed the possibility of a sooner-than-expected U.S. interest rate hike.
SEOUL, July 17- U.S. crude futures extended gains in early Asian trade on Thursday after rallying more than $1 in the previous session, supported by government data showing a sharper fall in U.S. crude stocks than forecast. *U.S. crude for August delivery gained 30 cents to $101.50 a barrel as of 0007 GMT.
TOKYO, July 17- Asian equities gained early on Thursday, lifted by another record-high close on Wall Street, while the euro probed recent lows against the dollar amid market speculation the U.S. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.15 percent.
Rejected Fox bid for Time Warner shows growth mood. NEW YORK— In a move that aims to counter consolidation among TV distributors, Rupert Murdoch's Fox has made an unsolicited takeover offer for rival media giant Time Warner for about $76 billion in cash and stock.
July 16- Markets aren't afraid of Janet Yellen, but you might want to be. Yellen and her colleagues at the Federal Reserve Board took unusually frank aim at frothy valuations in social media and biotech shares, as well as at parts of the debt markets, in testimony before Congress this week.
NEW YORK, July 16- U.S. benchmark Treasury yields edged lower on Wednesday, slipping back from an early boost delivered after data suggesting the world's largest economy is on solid footing. Prices are high and you have the Fed nicely priced in, "said David Ader, head of government bond strategy at CRT Capital Group in Stamford, Connecticut.
CNBC's Steve Liesman and Diane Swonk, Mesirow Financial chief economist, react to Stan Druckenmiller's criticism of the Federal Reserve.
All 12 of the Fed's regions reported growth with five— New York, Chicago, Minneapolis, Dallas and San Francisco— characterizing growth as "moderate" while the others reported "modest" growth. Boston and Richmond reported that growth came in at a slightly slower pace than the previous reporting period.
During congressional testimony on Tuesday and Wednesday, Fed Chair Janet Yellen said she was "optimistic" on the slowly growing economy.
WASHINGTON— Federal Reserve Chair Janet Yellen said Wednesday it would be a serious mistake for Congress to require the nation's central bank to adopt a formal policy rule to guide its decisions on setting interest rates.
*China data boosts stocks and oil outlook. NEW YORK, July 16- Stock markets around the world rose on Wednesday as strong China growth data and potential big deals in the United States boosted investor sentiment while concerns eased over the vulnerability of Portugal's largest listed lender.
*Intel climbs on earnings, outlook. *Time Warner rebuffs $80 bln bid from 21st Century Fox. Time Warner shares jumped 16.4 percent to $82.63 as the best performer on the S&P 500 after Twenty-First Century Fox confirmed it made an $80 billion takeover offer for the company that was turned down.
NEW YORK, July 16- Billionaire investor Stanley Druckenmiller took another swipe at U.S. central bank policies on Wednesday, warning that continued low interest rates were too risky and could create fresh problems in the years ahead.
WASHINGTON, July 16- Federal Reserve Chair Janet Yellen defended the central bank's independence on Wednesday at a U.S. congressional hearing, handling tough questions from Republican lawmakers who want to rein in the Fed's authority.
Discussing Fed Chair Janet Yellen's comments on overstretched valuations in some sectors, and just what could go wrong with the Fed's plan, with Michael Novogratz, Fortress Investment Group Principal.
*Investors see limited fallout from Espirito Santo problems. LONDON, July 16- Portuguese bond yields fell on Wednesday, with investors more optimistic that the country's largest listed bank can deal with the financial troubles faced by its founding family, although uncertainty remained high.
*Manufacturing output rises at 6.7 percent pace in Q2. WASHINGTON, July 16- U.S. manufacturing output rose at its fastest pace in more than two years in the second quarter, suggesting the economy was regaining enough momentum to lift growth throughout the year.
"My general assessment at this point is that threats to financial stability are at a moderate level and not a very high level," Yellen said.
*China data boosts stocks and oil outlook. NEW YORK, July 16- Stock markets around the world rose on Wednesday as strong China growth data and solid U.S. company earnings boosted sentiment and concerns eased over the strength of Portugal's largest listed lender.