Reserve chair janet yellen did not say when a hike could come. Backing off comments she made just a few weeks ago. Last month she said rates would move up again in the coming months. Today she dropped that reference. She also said she and her colleagues will wrestle with last weeks weak job data when they meet next week. Investors liked the sound of that because it suggested that a rate hike is now off the table. Dow jones industrial average up 113 points to 17,920. Nasdaq added 26. The s p 500 rose 10 to its highest level of the year. Steve liesman has more now on the fed chairs workout. Reporter fed chair janet yellen said in a major speech the fed remains on track to raise Interest Rates. But reacting to fridays dismal jobs report declined to say when that rate hike might come. If incoming data are consistent with labor Market Conditions strengthen and inflation making progress toward our 2 objective, as i expect, further gradual increases in the federal funds rate are likely to be
Reserve chair janet yellen did not say when a hike could come. Backing off comments she made just a few weeks ago. Last month she said rates would move up again in the coming months. Today she dropped that reference. She also said she and her colleagues will wrestle with last weeks weak job data when they meet next week. Investors liked the sound of that because it suggested that a rate hike is now off the table. Dow jones industrial average up 113 points to 17,920. Nasdaq added 26. The s p 500 rose 10 to its highest level of the year. Steve liesman has more now on the fed chairs workout. Reporter fed chair janet yellen said in a major speech the fed remains on track to raise Interest Rates. But reacting to fridays dismal jobs report declined to say when that rate hike might come. If incoming data are consistent with labor Market Conditions strengthen and inflation making progress toward our 2 objective, as i expect, further gradual increases in the federal funds rate are likely to be
Reserve chair janet yellen did not say when a hike could come. Backing off comments she made just a few weeks ago. Last month she said rates would move up again in the coming months. Today she dropped that reference. She also said she and her colleagues will wrestle with last weeks weak job data when they meet next week. Investors liked the sound of that because it suggested that a rate hike is now off the table. Dow jones industrial average up 113 points to 17,920. Nasdaq added 26. The s p 500 rose 10 to its highest level of the year. Steve liesman has more now on the fed chairs workout. Reporter fed chair janet yellen said in a major speech the fed remains on track to raise Interest Rates. But reacting to fridays dismal jobs report declined to say when that rate hike might come. If incoming data are consistent with labor Market Conditions strengthen and inflation making progress toward our 2 objective, as i expect, further gradual increases in the federal funds rate are likely to be
Hearing from honeywell as well. A few reports of note, 9 15 eastern time Industrial Production and then at 10 00 its Consumer Sentiment and the jolts report. Thats the job earnings and Labor Turnover survey thats closely watched. Big stories this morning, investors putting money to work in the latest week. The u. S. Stock based mutual funds attracted 2. 5 billion. This reversal following 8 billion of outflows during the prior week. Also in global news a big test for greeks left wing Prime Minister today. A penalty for early retirement and expansion of property tax. Cleveland fed president is addressing recent assent among policy makers. They have had different views on Monetary Policy in the last week. This isnt surprising and is the result of what she is calling cross currents in the Economic Data. She argues the central bank is trying to be as clear as it can on its rational for policy. Esther, who is there . Esther george was but loretta is an old name isnt it . Like a classic name.
Commodities are on the move. But i would focus on is this exhaustion at the end of the year, where people are saying when does this stop . There is no indication that it will stop this morning. Francine there is no indication and they are looking for the fed. Tom theyre looking for the fed. Michael mckee will join us. I dont know how the fed links then with iron oil links in with iron ore. Francine and currency traders have been burned on the back of it. Lets get to the first word with nejra cehic. Nejra in paris, the Climate Change conference has been extended by at least one more day. The talks have been sent to end frenchut the foreign minister there are a number of issues to be resolved, among them, how rich nations will pay to help clean up the air. Put off aron has decision on whether to allow another runway at Heathrow Airport. There wont be another decision until the next election. The British Government says there needs to be more research on the environmental impact. Tomorrow