Friday, August 28, 2015   

US stocks bounce on dovish Fed minutes
(04-10 10:42)

Wall Street stocks Wednesday bolted higher. Tech equities led the way after US Federal Reserve minutes showed no support for an early rise in interest rates.
The Dow Jones Industrial Average jumped 181.04 (1.11 percent) to 16,437.18.
The broad-based S&P 500 advanced 20.22 (1.09 percent) to 1,872.18, while the tech-rich Nasdaq Composite Index soared 70.91 points (1.72 percent) to 4,183.90.
Stocks were higher through early afternoon, but rose more after the Fed minutes were released. The minutes, as expected, showed the US central bank foresees continuing the steady cutback to its stimulus program.
But they also showed there was not a groundswell of Fed powerbrokers who supported a speedy rise to benchmark interest rates.—AFP

   
Other Business breaking news:
Dow leaps 200 points at open (08-27 22:34)
US reports broad-based 3.7pc growth sparked by consumer spending and business investment (08-27 22:05)
People’s Bank of China injects 150b yuan into market (08-27 18:53)
Headline Daily continues to set the pace (08-27 18:43)
Sing Tao media operations hold ground against competitors (08-27 18:21)
(Market turmoil) Late rally propels China stocks (08-27 17:54)
(Market turmoil) European benchmarks recover (08-27 17:49)
Wanda acquires Ironman triathlon organizer in US$650m deal (08-27 13:49)
Hang Seng bounces at break (08-27 12:46)
Mall builder Henry Sy sits atop Philippines wealth pile (08-27 12:45)

More breaking news >>

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