As Fed officials consider a rate hike, job growth is shifting from oil into industries like tech, construction and manufacturing.» Read More
*China, Canada growth fears create safety bid. "In Greece, people realize we now have to do things as opposed to just talk about things," said Jim Vogel, an interest rate strategist at FTN Financial in Memphis, Tennessee. But " China, Canada, and the emerging market equities are more important with regards to keeping the buying going in Treasuries."
OTTAWA, July 15- The Bank of Canada cut its benchmark interest rate for the second time this year on Wednesday to combat a shrinking economy, a move that drove the Canadian dollar to a six-year low. Bank Governor Stephen Poloz had expected a recovery by now from the oil price crash that hit Canada's oil-exporting economy in the first quarter, but that projection has...
WASHINGTON, July 15- Federal Reserve Chair Janet Yellen on Wednesday resisted calls for more congressional oversight, as members of a House of Representatives panel criticized the central bank's policies and pressed it to be more accountable. In her semiannual testimony to Congress, Yellen repeated her view that the Fed will likely hike interest rates later...
The assessment comes just hours after Fed Chair Janet Yellen said the central bank was on track to raise rates this year.
Federal Reserve Chair Janet Yellen says the Fed remains on track to raise rates this year—as long as the economy evolves as expected.
*Nasdaq biotech index hits record high on Celgene deal. Celgene jumped as much as 10.7 percent to a record high of $135.98 after the company said it would buy Receptos to get a potential multibillion-dollar drug. Celgene's gains helped push the Nasdaq biotech index to hit a record high for the third time in three weeks.
CNBC's Steve Liesman reports the latest from Janet Yellen's hearing on monetary policy and the state of the economy including her addressing GOP concerns and the issue on the two-year old leak of confidential monetary information.
CNBC's Steve Liesman provides highlights from Fed Chair Janet Yellen's testimony on Capitol Hill.
NEW YORK, July 15- U.S. stock prices held steady on Wednesday as Federal Reserve chair Janet Yellen affirmed a likely interest rate increase by year-end, while the euro fell ahead of a Greek government vote on whether to accept tough terms for a vital third bailout. "If the economy evolves as we expect, economic conditions likely would make it appropriate at some...
LONDON, July 15- Italian yields hit six-week lows on Wednesday in a broad rally across euro zone bond markets as investors bet on Greek lawmakers passing a set of EU-prescribed austerity measures to secure a new bailout. Traders were also focusing on the European Central Bank's policy meeting on Thursday. Other EU parliaments will follow suit, paving the way for...
Jeff Gundlach, DoubleLine Capital CEO, reacts to uncertainty in Puerto Rico
Jeff Gundlach, DoubleLine Capital CEO, reacts to statements made by Federal Reserve Chair Janet Yellen and weighs in on how the Greece crisis is affecting markets.
Rep. Sean Duffy accuses the Federal Reserve and Janet Yellen of willfully quashing a congressional leak probe.
Jeff Gundlach, DoubleLine Capital CEO, reacts to statements made by Federal Reserve Chair Janet Yellen. I don't see how Fed can tighten this year, says Gundlach.
CNBC's Steve Liesman reports the highlights and latest out of Janet Yellen and her hearing on monetary policy and the state of the economy.
Measures of CFO expectations for the next 12 months were at their lowest levels in five years this quarter.
WASHINGTON, July 15- Federal Reserve Chair Janet Yellen on Wednesday resisted calls for more congressional oversight and intervention into the U.S. central bank, as members of a House of Representatives panel criticized her and other policymakers for failing to be more accountable. Representative Sean Duffy, a Wisconsin Republican, pulled no punches during...
*Nasdaq biotech index hits record high on Celgene deal. *Bank of America rises after profit more than doubles. *Delta Air Lines warning weighs on airline stocks.
WASHINGTON, July 15- U.S. producer prices rose more than expected in June as the cost of gasoline and a range of other goods rose, indicating the recent oil-driven downward spiral in prices was abating. "Today's data support the Fed chair's message that the economy can support a rate hike," said Joel Naroff, chief economist at Naroff Economic Advisors in Holland,...
Fed Reserve Chair Janet Yellen responds to questions from Rep. Stephen Fincher, (R-Tenn.), on a raise in rates.