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Tag Archives: interest rates

US stocks jump as rising interest rates help banks higher

stocks

NEW YORK (AP) — U.S. stocks are jumping Tuesday morning as rising interest rates give bank stocks a lift. Investors are also buying big-name technology companies. European indexes also climbed. KEEPING SCORE: The Dow Jones industrial average rose 187 points, or 1.1 percent, to 17,679 as of 10:05 a.m. Eastern time. The Standard & Poor’s 500 index picked up 21 ...

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Yellen: Slower rate hikes if economy disappoints

The Federal Reserve Bank of New York. (Image: Alex via Flickr)

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen said the U.S. economy faces a number of global threats that could hamper growth and compel the Fed to slow the pace of future interest rate hikes. She highlighted in her semiannual report to Congress the widening fallout from concerns over China’s weaker currency and economic outlook, which is rattling financial markets ...

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Average long-term US mortgage rate falls fifth straight week

In this Tuesday, Jan. 26, 2016, photo, a single family home is advertised for sale in Miami. On Thursday, Feb. 4, 2016, Freddie Mac reports on the week’s average U.S. mortgage rates. (AP Photo/Lynne Sladky)

WASHINGTON — Average long-term U.S. mortgage rates fell for the fifth straight week amid volatility in world financial markets. Mortgage buyer Freddie Mac says the average rate on a 30-year fixed-rate mortgage slid to 3.72 percent this week, down from 3.79 percent last week and the lowest since it averaged 3.68 percent in April 2015. The average rate on a ...

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A month after raising rates, Fed faces darker global economy

WASHINGTON — Since the Federal Reserve raised interest rates from record lows last month, the global picture has darkened. Stock markets have plunged. Oil prices have skidded. China’s leaders have struggled to steer the world’s second-biggest economy. All of which raised a delicate question: Did the Fed err in raising rates for the first time in nearly a decade? Don’t ...

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Unemployment rates fall in 27 US states amid broad hiring

In this Oct. 1, 2015 photo, a shopper walks past a store with a "Help Wanted" sign in the window, in New York. The Labor Department said Friday, Dec. 18, 2015 that jobless rates fell in 27 states, rose in 11, and were unchanged in 12 states. Employers added jobs in 35 states, while employment fell in 14. Montana’s job total was flat last month. (AP Photo/Mark Lennihan)

WASHINGTON — Unemployment rates fell in more than half of U.S. states in November as employers stepped up hiring. The Labor Department said Friday that jobless rates fell in 27 states, rose in 11, and were unchanged in 12 states. Employers added jobs in 35 states, while employment fell in 14. Montana’s job total was flat last month. The widespread ...

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Oil rallies but U.S. supply may temper gains

LONDON – Oil prices headed for their largest weekly rise in six weeks on Thursday, although an unexpectedly large increase in U.S. inventories may temper some of the optimism among investors that global demand and supply could soon be in balance. U.S. crude stocks rose by 3.1 million barrels to 461 million last week as refineries cut output and idled ...

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PNC is on the right track for 2015

business plan

Top PNC Financial Services Groups Inc. executives announced that 2014 was overall a successful year and that the company is on the right track for 2015. William Demchak, PNC chairman, president and CEO expressed his outlook for 2015 to analysts during the bank’s earnings call Friday morning: The coming year looks a lot like 2014 … We’re executing well in ...

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