Wall Street analysts think Facebook's cryptocurrency payments project will give the company a big boost.Marketsread more
Facebook's reported move into cryptocurrency could amount to the biggest catalyst for digital assets in their decade-long history, some crypto investors say.Bitcoinread more
The Fed is expected to cut rates multiple times, but the reason behind those cuts could have vastly different implications for the market.Marketsread more
"This is going to be the biggest thing that's happened to Facebook in years," says CNBC's Jim Cramer. "It will be vital."Investingread more
A recent Fed survey showed that workers' confidence for finding a new job after losing their current position was at 61.5% in May.Economyread more
These are the stocks posting the largest moves midday.Market Insiderread more
The red-hot market for new public companies in 2019 like Beyond Meat and Chewy could spell bad news for the stock market, Bernstein says.Marketsread more
The "captive carry flight test" evaluates the mock weapon during flight and is the Air Force's latest step amid the budding hypersonic arms race between China and Russia.Politicsread more
It's about time to write off high-growth tech stocks, Goldman warns, saying software carries the highest multiples since the tech bubble.Marketsread more
Profits for major U.S. tobacco companies could be cut in half if the FDA adopts a "maximum nicotine" rule within the next 15 years, according to analysts at Morgan Stanley.Tobaccoread more
Mursi, a top figure in the now-banned Muslim Brotherhood, had been in jail since being toppled by the military in 2013 after barely a year in power following mass protests...World Politicsread more
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh (Recasts; adds analyst quote; updates prices; changes byline and dateline from LONDON to NEW YORK)
NEW YORK, Jan 18 (Reuters) - The dollar held firm against its rivals on Friday and was poised for its first weekly gain in five weeks, boosted by optimism about trade talks between China and the United States.
U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs on Chinese goods and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30, the Wall Street Journal reported on Thursday, citing people familiar with the internal deliberations.
Although a Treasury spokesman denied the report, the positive sentiment was enough to lift the dollar index and the three major U.S. stock indexes Friday morning.
"Yesterday's WSJ headline concerning a possible rollback of the Trump tariffs was a setback for (the U.S. dollar/renminbi cross), and although it was subsequently denied, it had created confusion in the foreign exchange space," said Stephen Gallo, European head of foreign exchange strategy at BMO Capital Markets in London.
Chinese Vice Premier Liu He will visit the United States on Jan. 30 and 31 for talks aimed at resolving the trade standoff between the world's two largest economies.
Stronger-than-expected U.S. industrial production numbers also helped lift the greenback. American manufacturing output increased by the most in 10 months in December, pushed up by a surge in the production of motor vehicles and a range of other goods, the Federal Reserve said on Friday.
Going into 2019, weakness in the dollar was a consensus view among currency market traders. The bet was that the U.S. central bank would stop raising interest rates and the economy would slow after a fiscal boost last year. While expectations of a U.S. rate pause have manifested in money markets, bets on policy tightening by other major central banks have also receded, giving a boost to the dollar.
Against a basket of rivals, the dollar was set to rise 0.6 percent on the week, its first positive week since mid-December. Against the euro, the dollar had strengthened 0.25 percent to $1.137, its strongest since Jan. 4.
The pound slipped against the euro, partially trimming overnight gains, as traders wagered on a second referendum vote on Britain's EU membership.
(Reporting by Kate Duguid and Saikat Chatterjee; Editing by Steve Orlofsky)