All News Results

  • Fed rate cuts are a mistake, says Oaktree's billionaire co-chairman

    Critical information for the U.S. trading day. We're going to hear from a busy lineup of Federal Reserve officials on Friday, and they may shed more light on why the bank was so divided on this week's interest rate cut. Our call of the day, from Oaktree Capital's billionaire co-chairman Howard Marks, also weighs in on the Fed as he says the economy doesn't really need the rate cuts it's been doling out.

  • Fed's Bullard says he dissented at Wednesday's Fed meeting because manufacturing 'appears in recession'

    Louis Federal Reserve President James Bullard on Friday explained his dissent from the Federal Open Market Committee's decision on Wednesday to reduce rates by a quarter of a percentage point to a range of 1.7%-2%. The Fed president said he sees the U.S. economy slowing "in the near horizon" and said that the manufacturing sector "already appears in recession." For that reason, Bullard said deeper cuts were more appropriate to stem the effects of slowing growth abroad and the...

  • European stocks edge higher as U.S.-China trade talks resume but investors remain wary

    European stocks edged higher on Friday as markets looked set for calm at the end of an eventful week. The Stoxx 600 rose 0.3%, the CAC climbed 0.4% and the DAX lifted 0.2% as equities built on Thursday's gains after central banks across the globe loosened monetary policy. U.S.-China trade talks resumed on Thursday for the first time in two months, boosting stocks, but gains were held back as Chinese state media played down a potential deal.

  • Pound climbs after EC's Juncker says 'we can have a deal' on Brexit

    The British pound jumped against rivals on Friday after European Commission President Jean-Claude Juncker said a Brexit deal was possible. Juncker made the comments in an interview with Sky News late Thursday and the remarks reassured some investors who are worried a no- deal Brexit for Britain was a growing possibility. "I had a meeting with Boris Johnson, the prime minster. this was a rather positive meeting, although the British press was reporting it in the other way.

  • World economic growth is 'fragile,' Lagarde says, and central banks aren't always the answer

    Former IMF chief, and presumed ECB successor, says central banks must remain predictable. World economic growth is "fragile" and "under threat," former International Monetary Fund director Christine Lagarde says, and is over-reliant on the actions of central banks. In an interview published late Thursday by Agence France-Presse, Lagarde-- who exited her IMF post last week and is in line to become president of the European Central Bank before year's end-- also said central banks should...

  • Asian markets rise as U.S., China return to negotiating table

    Nikkei, Hang Seng tick up following central-bank moves. Asian markets advanced in early trading Friday following reassuring moves by central banks and as trade negotiations resumed between the U.S. and China. Mid-level talks were held in Washington on Thursday for the first time in almost two months as U.S. and Chinese negotiators attempted to find common ground to pave the way for high-level talks scheduled for October.

  • Online courses could help make college affordable, but this $1 billion industry is standing in the way

    In hiring companies known as online program managers, universities give up what is often a large share of revenues. Boosters of online higher education have long held out the lofty promise that it would bring down the spiraling cost of college while also widening its reach. But a little-known industry of for-profit middlemen, which is skimming off as much as 80% of the proceeds and has U.S. revenues of $1 billion annually, may be thwarting the innovative potential of online...

  • 3 things NOT to do with your savings now that the Fed has cut interest rates

    Already, the Fed's rate cut has affected banks' decision-making. The Federal Reserve announced Wednesday that its Open Market Committee had voted to cut the federal funds rate by 25 basis points to a range of 1.75% to 2%. The federal funds rate is the benchmark interest rate that banks use when lending to one another.

  • What NOT to do with your savings as interest rates fall and another state rolled out a free-college plan

    Check out these stories for advice on everything from savings strategies when interest rates drop to preparing financially for a divorce. Getting divorced cost this woman nearly $1 million in retirement savings-- how to avoid her fate. 'Folks are more likely to talk about their sex life or their most recent encounter on Tinder than they are to talk about finances.'.

  • Bond investor says negative yields are 'most absurd thing central banks have done'

    Marathon Asset Management CEO Bruce Richards said government bond yields trading at negative levels "is the most absurd thing central banks have done and it will blow up in their face," at the CNBC Institutional Investor Delivering Alpha conference on Thursday. Ultra-loose monetary policy by major central banks including, the Bank of Japan and the European Central Bank, have contributed to the phenomenon of government bond rates falling below subzero levels.

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