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attack bank Business energy 

Healthcare stocks jump after Republicans unveil plan; banks, staples slip

June 22, 2017 By Sinead Carew (Reuters) – The S&P healthcare index rose 1 percent on Thursday, hitting its fifth consecutive record close following the release of Senate Republicans’ bill to replace Obamacare, while financial and consumer staple shares ended lower. The legislation aims at curbing Medicaid funding and reshaping subsidies to low-income people for private insurance. The index has risen 3.9 percent in five days. The Nasdaq biotechnology index rose 1.3 percent, for a 9.4 percent jump so far this week. While it was not clear whether the bill…

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attack bank Business energy 

Wall St. flat at open as oil prices edge up

June 22, 2017 (Reuters) – U.S. stocks opened little changed on Thursday as oil prices remained under pressure even as they edged up from multi-month lows. The Dow Jones Industrial Average rose 5.05 points, or 0.02 percent, to 21,415.08. The S&P 500 gained 1.09 points, or 0.04 percent, to 2,436.7. The Nasdaq Composite index added 6.01 points, or 0.1 percent, to 6,239.96. (Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty) Powered by WPeMatico

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bank Business Louisiana state WASHINGTON 

U.S. jobless claims rise, labor market still tight

June 22, 2017 WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week ended June 17, the Labor Department said on Thursday. Economists polled by Reuters had forecast first-time applications for jobless claims rising to 240,000 in the latest week. Following the report, the dollar held at slightly lower levels against a basket of currencies while U.S. Treasuries were…

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bank Boston Fed Business Robert Kaplan Sruthi Shankar 

S&P, Dow hurt by energy, banks; biotech boosts Nasdaq

June 21, 2017 By Sinead Carew NEW YORK (Reuters) – The S&P 500 and Dow stock indexes were weighed down by falling energy shares as oil prices fell on Wednesday and added to investor concerns about low inflation, while healthcare and technology stocks helped lift the Nasdaq Composite index. Energy was the weakest S&P sector with a 1.6 percent decline after oil prices reversed course during the morning session and U.S. crude touched its lowest point since August despite larger-than-expected declines in inventories. Continued weakness in oil futures added to…

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bank change energy Tech Top News Wall Street 

Low U.S. inflation? It’s your phone: BlackRock bond manager

June 21, 2017 NEW YORK (Reuters) – Americans’ love of their smartphones and apps may be contributing to the sluggish pace of inflation that is worrying Wall Street and the Federal Reserve, a top bond manager at BlackRock, the world’s biggest asset manager, said on Wednesday. Consumers are relying less and less on devices such as cameras, radios and televisions, and services such as taxis and stores, replacing them with programs in their iPhones and other high-end phones, according to Rick Rieder, BlackRock’s chief investment officer of global fixed income….

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bank Business conference rates United States 

Fed policymakers in tug-of-war on inflation, instability

June 20, 2017 By Ann Saphir and Lindsay Dunsmuir SAN FRANCISCO/WASHINGTON (Reuters) – The outlook for inflation and the future of financial stability are emerging as dueling concerns at the heart of a debate at the U.S. central bank over how fast to proceed on future interest-rate hikes. That is a change from years past, where high unemployment was at the top of the Federal Reserve’s worry list for the U.S. economy. But with the U.S. unemployment rate now at 4.3 percent, most Fed officials are now convinced that nearly…

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bank Business news Robert Kaplan William Dudley 

Stock futures slightly higher as tech sector recovery continues

June 20, 2017 By Tanya Agrawal (Reuters) – U.S. stock index futures were slightly higher on Tuesday as technology stocks continued to recover from their steep selloff last week. The S&P technology sector is coming off two straight weeks of losses on worries about the sector’s valuation and a move into more defensive sectors. Tech stocks have led the S&P 500’s 9.6 percent rally this year. Apple , Amazon , Alphabet and Netflix were all up about 0.3 percent in premarket trading. The S&P 500 and the Dow Jones Industrial…

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bank China Economy Top News Zhou Xiaochuan 

Protectionism would compromise China’s financial sector: PBOC’s Zhou

June 20, 2017 SHANGHAI (Reuters) – Healthy financial institutions are a prerequisite for preventing a financial crisis and further opening will strengthen the sector, China’s central bank governor Zhou Xiaochuan said on Tuesday at a forum in Shanghai. Some vested interests have argued in favor of protecting the financial sector until domestic players were strong, but protectionism would only compromise the competitiveness of the sector, Zhou said. The financial services industry had benefited from opening up, and must continue to do so, he said. (Reporting by Andrew Galbraith and Winni…

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bank Economy Masayuki Kitano Editing rates Teppei Ino Top News 

Dollar hits three-week high vs yen after NY Fed president’s comments

June 20, 2017 By Masayuki Kitano SINGAPORE (Reuters) – The dollar hit a three-week high against the yen on Tuesday, after an influential Federal Reserve official said U.S. inflation should rise alongside wages, supporting expectations for the Fed to keep raising interest rates. The dollar rose to 111.775 yen at one point, reaching its strongest level since May 26. That marked a gain of about 2.7 percent from the dollar’s near 2-month low of 108.81 yen set last Wednesday. The greenback last stood at 111.685 yen, up 0.2 percent on…

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Although Wall Street bank Business change results 

U.S. bank investors hope Fed stress test results lead to big payouts

June 19, 2017 By Pete Schroeder and David Henry (Reuters) – Investors are hoping the Federal Reserve will allow big U.S. banks to put an estimated $150 billion in idle capital toward stock buybacks, dividends and profit-boosting investments in the coming weeks after conducting a regular examination of financial strength. On Thursday, the Fed is scheduled to begin releasing results from its two-part annual stress test, which was adopted in response to the financial crisis, to gauge banks’ ability to weather an economic storm that could threaten the stability of…

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