Expected Volcker Rule Update a Win for Large Banks
An update of the Volcker rule expected next week will deliver a victory to large banks that have fought regulators' efforts to clarify trading definitions, said people familiar with the matter.
Trump Spoke With Banking Chiefs Wednesday as Market Fell
President Trump held a conference call with the chief executives of three major U.S. banks on Wednesday, the day the stock market saw a precipitous drop and the configuration of interest rates prompted fears of a potential coming recession, according to people familiar with the matter.
U.S. Stocks Rise but Notch Modest Weekly Loss
The Dow Jones Industrial Average bounced back from Wednesday's 800-point selloff with two consecutive sessions of gains and a modest weekly loss. But investors' lingering fears about a potential recession remain unresolved.
Slower Tourist Traffic Adds to Retailers' Woes
Retailers have seen fewer tourists in their U.S. stores this summer, piling on to challenges like volatile trade policy and geopolitical tensions.
U.S. Housing Starts Decreased 4.0% in July
Home building in the U.S. fell for a third straight month, showing that rising labor and material costs continue to dent the pace of home construction.
Trade Jitters Dent Consumer Sentiment
U.S. household sentiment dropped to a seven-month low in August, as consumers took fright from the implications of trade uncertainties and the Federal Reserve's recent rate cut.
Despite Reprieve, New Tariffs Will Hit Wide Range of Consumer Goods
President Trump may have delayed tariffs on some Chinese goods to spare holiday shoppers, but consumers are likely to feel the pinch anyway, economists say.
Some Investors Are Betting the Flight to Bonds Is Overdone
A hearty pack of skeptical investors sees bond markets as overly pessimistic and is making bets against debt securities that are overbought-just in case yields rise in the months ahead as the market reassesses the economy.
Fitch Cuts Argentina Sovereign Ratings to 'CCC' from 'B'
Fitch Ratings cut its sovereign ratings of Argentina to "CCC" from "B" on Friday.
OPEC Cuts Oil Demand Forecast
OPEC downgraded its 2019 oil demand growth forecast for the second time in three months and cut its projections for global economic growth.