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
*Gold steady after biggest 2- day loss since Oct, down 3.3 pct. LONDON, July 16- Gold steadied around 1,300 an ounce on Wednesday as investors found value after two days of losses, but was still trading near a four-week low on a stronger dollar and fears the Federal Reserve could raise U.S. interest rates sooner than expected.
CNBC's Rick Santelli discusses The Federal Funding Accountability and Transparency Act, and the relationship between the Treasury and the Federal Reserve.
Federal Reserve Chair Janet Yellen testifies in front of the House Financial Services Committee about the Fed's plan to reduce its balance sheet to historic levels.
Federal Reserve Chair Janet Yellen's testimony as prepared for delivery to the House of Representatives Financial Services Committee on Wednesday is a repeat of the remarks she delivered before the Senate Banking Committee a day earlier.
Treasury yields and market speculation Federal Reserve Chair Janet Yellen is leaning toward tightening monetary policy that has kept interest rates at record lows. "We have had some subtly hawkish messages from Janet Yellen," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
CNBC's Steve Liesman discusses expectations for Fed Chair Janet Yellen's testimony before the House Financial Services Committee.
Time Warner soared 16 percent on news that Rupert Murdoch's Twenty-First Century Fox had made a bid for the media giant. Intel jumped 7 percent after reporting a surge in earnings as companies spent more on replacing PCs. Investors are keeping an eye on Federal Reserve Chair Janet Yellen, who is testifying to Congress for a second day.
*Producer prices rise 0.4 percent in June. WASHINGTON, July 16- U.S. producer prices rose more than expected in June with gains across most categories, pointing to some inflation at the factory gate. The Labor Department said on Wednesday its producer price index for final demand increased 0.4 percent last month, reversing May's 0.2 percent decline.
LONDON, July 16- The Australian and New Zealand dollars fell on Wednesday as GDP data raised questions about the fragile economic recovery in China, a major destination for the two countries' exports.
*IPO process kicked off with initial Tokyo application. TOKYO/ SEOUL, July 16- Tokyo may struggle to get a piece of a listing that could value Japan's social messaging service Line Corp at up to $20 billion, with bankers saying New York is a more likely venue as a base for global expansion to build on explosive growth at home.
Mortgage rates are barely moving, but demand among mortgage-dependent home buyers is weakening, data show.
But Russian shares fell for the third straight session, with a 0.5 percent fall as investors worried that Russia may be hit by another wave of sanctions for its involvement in Ukraine when European Union leaders meet later in the day.
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.
*China data lifts stocks, oil and metals outlook. LONDON, July 16- Stocks rose in Europe on Wednesday after China reported economic growth figures that were slightly stronger than markets had expected, although the reaction in Asia was more muted. The China data helped push Shanghai zinc and London aluminium close to their highest in more than a year.
LONDON, July 16- The Australian and New Zealand dollars fell on Wednesday as Chinese growth data raised some questions about how long the growth would last, with some investors cautious about a recovery without another burst of government stimulus.
TOKYO— Asian stock markets were lukewarm Wednesday after China met expectations of solid but unspectacular growth in the second quarter. Other Asian stock markets were mostly higher, including shares in Singapore, Indonesia and Thailand.
TOKYO, July 16- Japan's Nikkei share average edged down on Wednesday after staying nearly flat for most of the session as investors took profits from gains the previous day, while China's economic data received a muted reaction from the market.
*Intel stock up more than 4 pct after beating estimates. SYDNEY, July 16- Asian stocks held stubbornly steady on Wednesday after China reported economic growth that was just ahead of market expectations, drawing a sigh of relief from investors rather than outright applause.
Bob Parker, senior advisor at Credit Suisse, describes Janet Yellen's comments on valuations in the tech sector as "very unusual", and says the market probably doesn't want such comments.
*China Q2 GDP grows 7.5 pct on year. SYDNEY, July 16- A slight pick up in the pace of China's economic growth in the second quarter brightened the outlook for metals demand on Wednesday, helping drive Shanghai zinc and London aluminium near their highest in more than a year.