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Business Scott Brown

  • *Wall Street at records, IBM earnings boost indexes. NEW YORK, Oct 18- Wall Street hit new records on strong earnings and the dollar extended a winning streak on Wednesday, boosted by rising Treasury yields as investors focused on monetary policy. On Wall Street, the S&P 500 was boosted by strong earnings from heavyweight International Business Machines, which...

  • *Fed's Beige Book expected at 2:00 p.m. ET. Oct 18- The Dow Jones Industrial Average opened above 23,000 for the first time on Wednesday, powered by IBM, which hinted at a revival in its growth after six years in retreat. Solid earnings and hopes that President Donald Trump may be able to make progress on tax cuts have helped the market rally this year.

  • Oct 18- The Dow Jones Industrial Average was poised to open above 23,000 for the first time on Wednesday following a series of upbeat earnings reports from marquee companies. Solid earnings and hopes that President Donald Trump may be able to make progress on tax cuts have helped the market rally this year. "Looks like it's set for a good start, largely driven by...

  • LONDON, Oct 17- Jerome Powell likely will be the next Federal Reserve chairman, according to a slim majority of economists in a Reuters poll- but most of them said current Fed Chair Janet Yellen would be the best option. Powell, a lawyer and former investment banker, has served as a member of the Fed's Board of Governors since May 2012. Bancorp Richard Davis, Columbia...

  • *Micron dips after launching $1 bln stock offering. Oct 11- Wall Street's main indexes were little changed at open on Wednesday, as a jump in shares of consumer staples were offset by a drop in financials on the eve of their financial reports. Wall Street banks JPMorgan Chase and Citigroup both report on Thursday.

  • *FOMC releases minutes from Sept policy meeting at 2:00 p.m. ET. Oct 11- Wall Street's main indexes were set to inch down at opening on Wednesday, strong results for the world's biggest asset manager, BlackRock and an upbeat mood in Europe failing to offset caution about third quarter corporate results. "Third quarter results of large banks are expected to be...

  • However, the Commerce Department report also showed that the economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years. The Labor Department said initial claims for state unemployment benefits increased 12,000 to a seasonally adjusted 272,000 for the week ended Sept. 23.

  • Sept 28- Wall Street was set to open lower on Thursday after data showed weekly jobless claims rose more than expected and the third-quarter GDP growth may slow due to the impact of Hurricanes Harvey and Irma. However, the economy grew a bit faster than previously estimated in the second quarter, recording its quickest pace in more than two years, according to a...

  • Sept 15- U.S. stocks were little changed on Friday, but the Dow eked out another record high, as investors shrugged off North Korea's latest missile test and domestic economic data that did little to move the needle on the timing of an interest rate hike. U.S. retail sales unexpectedly fell last month, the Commerce Department said, while another report showed...

  • *North Korea's missile test leaves investors unimpressed. Sept 15- U.S. stocks were set to open little changed on Friday, with investors shrugging off North Korea's latest missile test and an unexpected drop in domestic retail sales in August. "I think the market is kind of getting desensitized to that," said Scott Brown, chief economist at Raymond James in St....

  • *Wall Street, European stocks steady after Asia shares fall. *Oil prices rise as Hurricane Irma heads to Caribbean. NEW YORK, Sept 6- Shares in Europe and the United States rose on Wednesday, but Asian markets fell and gold neared a 1- year high on investor concern about tensions on the Korean peninsula and a major hurricane barreling towards Puerto Rico and Florida.

  • *Hurricane Irma possibly en route to Florida. Sept 6- U.S. stocks opened higher on Wednesday, driven by gains in energy and financial stocks, but investors remained cautious amid tensions on the Korean peninsula and concerns that the Category 5 Hurricane Irma could hit the United States. We also have another hurricane heading towards Florida, "said Scott Brown,...

  • *Hurricane Irma possibly en route to Florida. Sept 6- Wall Street was set to open slightly higher on Wednesday, but investors are expected to remain cautious amid tensions on the Korean peninsula and concerns that the Category 5 Hurricane Irma could hit the United States. We also have another hurricane heading towards Florida, "said Scott Brown, chief economist at...

  • *Emails show Russian prosecutor offered Trump Jr. information on Clinton. Donald Trump Jr was told a Russian prosecutor was offering incriminating information about Hillary Clinton as part of Russian government support. "I think people are worried that it just means more political uncertainty, and sort of a continuation of the stalemate in Washington, a...

  • "The Crown prosecutor of Russia... offered to provide the Trump campaign with some official documents and information that would incriminate Hillary and her dealings with Russia and would be very useful to your father," said the June 3, 2016, email to Donald Trump Jr. from publicist Rob Goldstone. Trump's son, Donald Trump Jr., agreed to meet with a Kremlin-linked...

  • "We've got Yellen's testimony tomorrow, there may be a little bit of nervousness ahead of that... the semi-annual monetary policy testimony has often been a big deal for the markets," Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. The Federal Reserve Bank of Minneapolis President Neel Kashkari will participate in a Town Hall...

  • Global oversupply has led BNP Paribas to cut its forecasts for Brent by $9 to $51 a barrel for 2017 and by $15 to $48 for 2018. Fed Reserve Chair Janet Yellen's semi-annual testimony to Congress on monetary policy report is the key highlight of this week. "We've got Yellen's testimony tomorrow, there may be a little bit of nervousness ahead of that... the semi-annual...

  • NEW YORK, June 7- A smoothly executed rescue of Spain's struggling Banco Popular lifted European bank stocks on Wednesday, while U.S. stock and bond investors showed caution ahead of Thursday's British vote, an ECB meeting and testimony by ex-FBI chief James Comey. Oil prices dipped on renewed concerns about the efficacy of OPEC- led production cuts and a Mideast...

  • *Former FBI director to testify before Congress on Thursday. Britain's general election, the European Central Bank's policy meeting and former FBI Director James Comey's testimony before a Senate panel could all weigh on investor sentiment. The closely-fought election in Britain is also keenly watched, with one poll showing Prime Minister Theresa May...

  • *Former FBI director to testify before Congress on Thursday. General election in Britain, the European Central Bank's policy meeting and former FBI Director James Comey's testimony before a Senate panel could all weigh on investor sentiment. A closely-fought election in Britain is also weighing on investors' minds, with one poll showing Prime Minister...