While you were sleeping: Gradual rate hikes ahead

Mon, 06 Jun 2016

By Margreet Dietz June 7 (BusinessDesk) - Wall Street moved higher, while US Treasuries fell as Federal Reserve Chair Janet Yellen called for gradual interest rate increases but stopped short of offering a timeframe. Wall Street advanced. In 2.38 pm New York trading, the Dow Jones Industrial Average gained 0.74 percent. In 2.33pm New York trading, the Standard & Poor’s 500 Index rose 0.65 percent. In 2.48pm trading, the Nasdaq Composite Index climbed 0.68 percent. “I continue to think that the federal funds rate will probably need to r...

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