While you were sleeping: Weak data quell rate rise fear

Mon, 16 Mar 2015

By Margreet Dietz March 17 (BusinessDesk) - Wall Street advanced as weaker-than-expected data on US manufacturing and the housing industry bolstered hopes the Federal Reserve might affirm that it remains in no rush to start lifting interest rates. The Federal Open Market Committee is set to begin its next two-day meeting on Tuesday. Separate reports showed that US manufacturing output slid February for a third straight month, while an index of manufacturing in the New York region fell in March, and homebuilder confidence dropped to the...

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