Jobs Data Ups Odds Of Hike
The U.S. job market has almost fully healed from the deep wounds of the Great Recession, raising expectations that the Federal Reserve will begin withdrawing its support for the recovery by the end of the year. Government data released Friday showed that the economy added a blockbuster 271,000 jobs in October — the highest amount this year and beyond analysts’ most optimistic forecasts. The unemployment rate dipped to 5 percent, and...
Tech Leads Rally; S&P 500 Is Positive
New York — U.S. stocks closed higher on Friday, delivering their second gain in two days and pushing the Standard & Poor’s 500 index back into positive territory for the year. Strong quarterly earnings from several big-name technology companies helped rally the market, which has been gradually regaining ground following a swoon in August and September. Microsoft vaulted to a 15-year high, while Amazon and Google’s parent company,...
Tune In Tonight For Latest Read On China’s Yuan
New York — With the August U.S. jobs report out of the way, it’s time to look ahead to the next big data point in global financial markets. Currency and Treasuries traders will get a fresh read as soon as tonight on the extent of capital outflow and yuan selling that China has been grappling with. The People’s Bank of China, which owns almost one-third of the world’s reserves, will probably report in the coming week that its war chest...
Rail Giant to Buy Short Line: Genesee & Wyoming Has Deal for Claremont Concord Railroad
White River Junction — The Claremont Concord Railroad, one of the smallest railroad lines in the country, is getting hitched to one of the world’s biggest rail carriers. The Upper Valley short line that shuttles freight over the Connecticut River between White River Junction and West Lebanon and over a stretch of track in Claremont is being acquired by Genesee & Wyoming, the Dar ien, Conn.-based railroad giant that owns or leases...
Greek Crisis Could Affect U.S.
The financial crisis in Greece has upended the lives — and livelihoods — of residents of the Mediterranean nation. The shutdown of the banking system has resulted in long lines at ATMs to withdraw a daily maximum of just 60 euros, about $67. Citizens have stockpiled food and fuel, leading to empty shelves at grocery stores and crowded gas stations. Business leaders have warned that shortages of crucial medicines could be next. It is...
