Wall Street steady despite rate rise fears

Date:

9/12/2016

Time:

07:29:09

Source:

BBC News

Content:

(Open) US stocks stemmed their losses amid jitters on global markets that the Federal Reserve could raise US interest rates as soon as next week. In early trading in New York, the S&P was flat at 2,128.52 and the Nasdaq was also little changed at 5,124.23. The Dow Jones dipped 0.2% to 18,055.25. The three indexes fell by about 2% on Friday after comments from Boston Fed president Eric Rosengren that higher rates are needed to stop the US economy overheating. Attention is now turning to any hints in a speech from Fed member Lael Brainard on Monday about the timing of the next rate rise. "The risk is that Ms Brainard goes from dove to hawk and signals a rate hike on the last day before the Fed begins its pre-meeting quiet period," said Jasper Lawler, an analyst at CMC Markets. A global sell-off has seen the UKs FTSE 100 index fall by 1.5%, with similar falls in Paris and Frankfurt. On Wall Street, HP Inc dropped 0.2% after announcing a deal for Samsungs $1bn printer business. Shares in oil rig operator Transocean fell 2.1%, one of the biggest declines on the S&P, as energy firms edged lower following a 0.5% fall in the oil price.

Orignial Link :

http://www.bbc.com/news/business-37341811

crawlTime:

9/12/2016 3:00:58 PM