Category: Stock Market News

The U.S. economy is close to displaying most of the conditions needed for an interest-rate rise next month, Boston Fed President Eric Rosengren told The Financial Times for an article published Sunday. “I want to be sensitive to how the data comes in, but I would say that most of the conditions that were laid out in the minutes, as of right now, seem to be . . . on the verge of broadly being met,” said Rosengren, who said two weeks ago that rate hikes should resume. He was referring to the hawkish minutes from the Federal Reserve’s most recent meeting. Rosengren, a voter on the Fed policy committee, is often described as a dove, but he was a forceful supporter of the Fed Reserve’s rate increase in December.

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Veteran British Director Ken Loach won the top prize at the Cannes Film Festival Sunday, when his ‘I, Daniel Blake” was awarded the prestigious Palme d’Or. It’s a second win for Loach, who won the same award in 2006 with the Irish civil war-themed film, “The Wind that Shakes the Barley.” His latest work concerns two people in Newcastle who are driven into poverty as they struggle with the British welfare system. Loach, a longtime campaigner for social justice, has also twice won the Cannes Jury Award, for “Raining Stones” and “Hidden Agenda.” The Iranian film “Forushande,” which translates as “The Salesman,” won Best Screenplay and Best Actor for Shahab Hosseini. The best actress award went to Jaclyn Jose for “Ma Rosa.” The Grand Prix was awarded to Canadian Xavier Dolan for “Juste la Fin du Monde,” a fiml that was harshly received by critics. The Jury Prize went to “American Honey” by Andrea Arnold. The Best Director award was shared by Olivier Assayas for “Personal Shopper”and Cristian Mungiu for “Graduation.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Veteran British Director Ken Loach won the top prize at the Cannes Film Festival Sunday, when his ‘I, Daniel Blake” was awarded the prestigious Palme d’Or. It’s a second win for Loach, who won the same award in 2006 with the Irish civil war-themed film, “The Wind that Shakes the Barley.” His latest work concerns two people in Newcastle who are driven into poverty as they struggle with the British welfare system. Loach, a longtime campaigner for social justice, has also twice won the Cannes Jury Award, for “Raining Stones” and “Hidden Agenda.” The Iranian film “Forushande,” which translates as “The Salesman,” won Best Screenplay and Best Actor for Shahab Hosseini. The best actress award went to Jaclyn Jose for “Ma Rosa.” The Grand Prix was awarded to Canadian Xavier Dolan for “Juste la Fin du Monde,” a fiml that was harshly received by critics. The Jury Prize went to “American Honey” by Andrea Arnold. The Best Director award was shared by Olivier Assayas for “Personal Shopper”and Cristian Mungiu for “Graduation.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Veteran British Director Ken Loach won the top prize at the Cannes Film Festival Sunday, when his ‘I, Daniel Blake” was awarded the prestigious Palme d’Or. It’s a second win for Loach, who won the same award in 2006 with the Irish civil war-themed film, “The Wind that Shakes the Barley.” His latest work concerns two people in Newcastle who are driven into poverty as they struggle with the British welfare system. Loach, a longtime campaigner for social justice, has also twice won the Cannes Jury Award, for “Raining Stones” and “Hidden Agenda.” The Iranian film “Forushande,” which translates as “The Salesman,” won Best Screenplay and Best Actor for Shahab Hosseini. The best actress award went to Jaclyn Jose for “Ma Rosa.” The Grand Prix was awarded to Canadian Xavier Dolan for “Juste la Fin du Monde,” a fiml that was harshly received by critics. The Jury Prize went to “American Honey” by Andrea Arnold. The Best Director award was shared by Olivier Assayas for “Personal Shopper”and Cristian Mungiu for “Graduation.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Manchester United won a 12th FA Cup Saturday as the Reds beat Crystal Palace 2-1. Louis van Gaal’s club had to come from behind after conceding a 77th-minute opener scored by Jason Puncheon but equalized the score through Juan Mata to take the final into extra time. United suffered a blow in the additional period of 30 minutes when Chris Smalling was sent off for a second bookable violation, but Jesse Lingard smashed in a volley with 10 minutes left on the clock. The 12th FA Cup title ties Arsenal for the most ever. MANU will reportedly tap former Chelsea boss Jose Mourinho as its new manager. It finished fifth in the Premier League this year.

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The U.S. military carried out a drone strike on Saturday that targeted Afghan Taliban leader Mullah Akhtar Mansour in a remote area near the Afghanistan-Pakistan border, the Pentagon confirmed. U.S. officials are still assessing the results of the strike.

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Viamet Pharmaceuticals Holdings LLC pulled its plans for an initial public offering, according to a filing with the Securities and Exchange Commission late Friday. In a statement, Viamet said it “has determined not to pursue at this time” an IPO, nor has it sold any securities. The biotech company initially filed for an IPO in April, and in May said it was pricing 5.7 million shares at $14 to $16 apiece.

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Brian Stolz, senior vice president of neurology, dentistry, and genetics at Valeant Pharmaceuticals International Inc. , has resigned, the company said in a late Friday filing. Stolz left to “pursue other opportunities” and the resignation is effective May 30, the company said. Shares of Valeant rose 0.2% in late trading Friday after ending the regular session up 4.6%. Valeant got a new CEO last month when Joseph Papa resigned as CEO of Perrigo Company plc to take on the job at Valeant. Valeant has been under fire over its accounting practices and drug pricing strategy, and shares are down 73% so far this year and 88% in the past 12 months.

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U.S. stocks closed higher Friday as fears of a June Federal Reserve rate-hike eased following a Thursday selloff. The Dow Jones Industrial Average rose 65.54 points, or 0.4%, to close at 17,500.94, but was down 0.2% for the week for a fourth straight week of losses. The S&P 500 Index climbed 12.28 points, or 0.6%, to close at 2,052.32, snapping a three-week losing streak for a 0.3% gain. The Nasdaq Composite Index surged 57.03 points, or 1.2%, to finish at 4,769.56, snapping a four-week losing streak to rise 1.1% on a weekly basis.

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Oil futures on Friday scored a more than 3% gain for the week with production outages in Africa and Canada expected to help ease the glut of crude supplies. Prices for the session, however, settled lower following news that exports from an eastern port in Libya were set to resume and data showing that the weekly number of active U.S. oil rigs was unchanged. June WTI crude settled at $47.75 a barrel on the New York Mercantile Exchange, down 41 cents, or 0.9% for the session. The June contract, which expired at the settlement, gained 3.3% for the week.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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