Daily Market Update – Wednesday, May 9th
U.S. stocks moved broadly higher in afternoon trading Wednesday, on pace to notch solid gains after a flat finish a day earlier.
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Author: Money & Markets Editorial Team
US Wholesale Prices Up A Tiny 0.1 Percent In April
“Underlying inflation pressures are building in the economy but have not broken out yet, so there is no reason for the Fed to speed up the pace of its interest rate path,” said Chris Rupkey, chief financial economist at MUFG Union Bank.
European Businesses Most Affected By US Sanctions On Iran
President Donald Trump’s decision to withdraw from the Iran nuclear deal and re-impose sanctions on Iran means companies worldwide must stop doing business with the country or run afoul of the U.S. government.
Oil Jumps, Global Shares Mixed After US Leaves Iran Deal
Prices of oil fell sharply before Trump’s announcement but rebounded, with benchmark U.S. crude oil jumping $1.97, or 2.9 percent, to $71.02 per barrel in electronic trading on the New York Mercantile Exchange.
House Panel OKs Plan To Grow VA Private Care
The $51 billion plan includes $5.2 billion to avert a catastrophic shutdown of Choice
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