While you were sleeping: Wall St, greenback rally

Thu, 15 Dec 2016

By Margreet Dietz Dec. 16 (BusinessDesk) - Wall Street climbed, as did the US dollar, a day after the Federal Reserve signalled a steeper path for interest rate increases, offering further optimism about the outlook for the US economy and corporate profits. Fed policy makers on Wednesday indicated they now see three quarter-point rate hikes next year, up from the two expected in their previous forecasts. "Investors are buying Yellen's story that the rate hike is a vote of confidence in the economy," Dave Donabedian, chief investment o...

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