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  • Trump says he doesn't need China deal before election and unveils Iran central bank sanctions

    President says he didn't have' dicey' conversation with foreign leader. President Donald Trump on Friday said he didn't need a trade deal with China before the 2020 elections, as he rejected a partial agreement and said "we have to do it right." Trump also announced the U.S. imposed sanctions on Iran's central bank and denied having had an improper call with a foreign leader that's central to a whistleblower complaint.

  • Stocks end lower after U.S-China trade concerns rattle markets

    By Chris Matthews and Mark DeCambre, MarketWatch, Andrea Riquier. Quadruple witching day on Wall Street. U.S. stocks closed lower Friday, for the first weekly decline in a month, as investors looked beyond a litany of central-bank decisions of the past week and focused on the state of China-U.S. trade talks.

  • New York Fed says its looking into banks' role in funding-market issues

    New York Fed President John Williams said the central bank was looking into why banks with excess cash didn't step into funding-markets when overnight borrowing costs shot up earlier this week, in an interview with the Financial Times published Friday. "The thing we need to be focused on today is not so much the level of reserves," he said. "It's how does the market function."

  • Stocks close lower after China cuts short trade visit

    U.S. stocks erased early morning gains to close lower Friday, after pessimism over U.S.-China trade relations rose following a decision by the Chinese trade delegation to cancel visits to farms in Montana and Nebraska, potentially signalling a lack of progress on trade negotiations. The Dow Jones Industrial Average fell about 161 points, or 0.6%, to close at 26,934, the S&P 500 index lost 15 points, or 0.5% to end around 2,992 and the Nasdaq Composite retreated roughly 65 points, or...

  • Fed's Clarida says U.S. economy is fine but global outlook is getting worse

    Powell's No. 2 defends decision to cut rates by quarter-point. The U.S. economy remains in a good place but the global picture is worsening, the second-highest-ranking official at the central bank said Friday. Fed Vice Chairman Richard Clarida defended the central bank's decision to cut its benchmark rate by a quarter percentage point on Wednesday this week.

  • A stock-market selloff could spark an economic recession, says BNY Mellon's Liz Young

    Market gains have been driven by macro factors, putting stocks on shaky ground. "I don't like losses, sport. Nothing ruins my day more than losses, "said Gordon Gekko.

  • Fed's Rosengren: Rate cut 'risks further inflating the prices of risky assets and encouraging people to take on too much leverage'

    Rosengren worries about asset inflation, Bullard about manufacturing recession. Boston Fed President Eric Rosengren on Friday explained his reason for dissenting from the central bank's decision to cut interest rates by a quarter percentage point on Wednesday, saying the rate cut wasn't needed and "risks further inflating the prices of risky assets and encouraging people to take on too much leverage." The Fed had a fractious meeting this week, with dissents on both sides of the...

  • Fed's Bullard: Dissent was due in part to worries about slowing economy

    Louis Fed president issues statement explaining why he wanted half-point cut. Louis Fed President James Bullard issued a statement Friday explaining his dissent at this week's Federal Open Market Committee meeting, saying he wanted a more aggressive half-point cut due to signs the economy is slowing down. At the end of its two-day meeting, the FOMC voted 7-3 to trim rates by a quarter percentage point to a range between 1.75% and 2%.

  • Think twice before carrying these items in your purse and why Jennifer Aniston declined a 'Friends' request

    Here's some of the week's best personal-finance content to dig into this weekend. This 24- year-old has raised more than $600,000 for charity-- by asking for beer money on national TV. Anheuser-Busch and Venmo are matching donations to the University of Iowa children's hospital.

  • Treasury yields log biggest weekly drop in a month

    The Fed lowered interest rates by a quarter point this week. Treasury yields fell on Friday after a China delegation cut their visit short to the U.S., underlining the potential for trade tensions to flare up again. For the week, yields tumbled as the Federal Reserve cut rates and handled a surge in overnight borrowing rates.

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