While you were sleeping: Relief rally on Wall St

Wed, 26 Aug 2015

By Margreet Dietz Aug. 27 (BusinessDesk) - Wall Street rose, rebounding from one of its worst slumps ever, as investors found value in beaten-down equities and after New York Fed Bank President William Dudley said a US interest rate increase next month “seems less compelling.” "From my perspective, at this moment, the decision to begin the normalisation process at the September FOMC meeting seems less compelling to me than it was a few weeks ago," Dudley told a news conference. "But normalisation could become more compelling by the tim...

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