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We saw this selloff after the yellen remarks. It really began after she was done speaking. At the same time, she did not say anything particularly different than what she has been saying. She emphasized her confidence in the strength of the u. S. Economy. A rateugh to stand increase. There is a data dependent clause, but nonetheless staying steady. We are seeing stocks fall to the lowest in the session. Look at the s p 500 for more of a snapshot of what we have seen. It is pretty steady throughout the day. Much has changed. When she stopped speaking was really when the drop started to accelerate. Take a look at what is suffering the most. I want to point out energy and what we are seeing in particular today. Down 3. 3 the county for the biggest percentage decline here, though it is a broadbased decline. With energy down that much, oil is the other big story of the day. Oil prices were lower even before she spoke. After, the losses began she got weekly inventory numbers, which showed un ....
The economy right now described as improving on a modest asus, a description they have used for quite some time. They know the robust sales of autos helped by low gasoline prices. They talk about manufacturing being mixed, held back by the dollar and week exports. Know manufacturers expect improvement in the coming months. That was what janet yellen was delivering today. Broadly supportive of the idea the fed can move. David an uptick in Temple Warner temp workers. We will look at Market Reaction so much as there is one right now. Julie stocks have fallen to the lows of the section. Not necessarily seeing much reaction as of yet. It is interesting we have seen stocks turn lower more decidedly after janet yellen spoke speaking about an hour and a half ago, finishing up a half hour ago. She did not deviate significantly at all from what we know already. She did serve to emphasi ....
Stocks in stories making headlines today. Peter cook focuses on the technology being news to hunt for the killers of american journalists. And willem marx takes on a two or of iraqs americanstyle village gone bust. Her firsten gave jackson hole speech today. Her focus, the u. S. Job market. Michael mckee is in jackson hole, and has details. This was a status quo speech, breaking no new ground. Janet yellen didnt change the debate, but she outlined it. For the fed, the damage to the economy from the Great Recession makes it very hard to know where unemployment and inflation should be before Interest Rates go up. As she said in a speech, as the recovery progresses, assessments need to be more nuanced, because of the considerable uncertainty about the level of unemployment consistent with the Federal Reserves dual mandate ....
Mario draghi commits a trillion dollar qe plan. The ecb president did surprise market to some extent with his announcement of the ecbs version of qualitative easing. 60 billion euros a month in various kinds of purchases, in sovereign debt and assetbacked securities and covered bonds. The surprise came from the amount. There were reports it would be 50 million 50 billion euros a month. He said it would last until at least the end of september 2016. Depending on how effective it is. 80 of these purchases will be handled by the 19 National Central banks and they will be on the hook for some of their own losses. Investors did express a lot of confidence in his plan. One of them was the former chancellor current chancellor of the u. K. This is welcome action from the European Central bank. Action from a central bank is necessary but not sufficient for a european recovery. We ....
The greek government is obviously still working, which is understandable if you think how few days this government has been in office. We shall wait for proposals and we will enter into talks with them and there will be sufficient opportunities for this. I dont want to comment on every single opportunity bandied about. A person familiar with the matter says they are willing to wait until greece faces a cash crunch, giving them leverage over the antiausterity government. A deal is up in the air with valiant and a pharmaceutical company. Lenovo shares up the most in two years after the Company Reported a 31 rise in the third quarter. The chinese tech giant is the Worlds Largest pc maker started seeing big growth in other areas and boosting smartphone shipments. Their server business is on track for five alien dollars in annual sales after acquiring ibms server business. Now t ....