Category: Uncategorized

WASHINGTON (MarketWatch) – The Federal Reserve voted unanimously to keep a key U.S. interest rate unchanged, but top central bankers were more upbeat about the economy in a sign that a widely expected rate hike could still come in September. “The labor market continued to improve, with solid job gains and declining unemployment,” the Fed said in a statement after top officials met on Tuesday and Wednesday. Fed policymakers next meet on Sept. 16-17. A majority of economists predict the Fed will move then to raise the key fed funds rate, now hovering near zero, if U.S. growth remains on an upswing.

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From:: Stock Market News

Goldman Sachs’s heavyweight commodities expert Jeff Currie maintained a
dour outlook for gold prices and crude futures in an interview with CNBC Wednesday. The commodities analysts said metals and oil are being hurt by what he described as three Ds: deflation, divergence and deleveraging. All of those elements he described as putting pressure on gold and oil, which was rebounding in Wednesday trade after U.S. government data showed weekly declines in supplies and production.

Still, Curried maintained a $45 a barrel target for West Texas Intermediate crude oil, saying that supplies were outstripping demand. “I think the downside risks are substantial,” Curried told CNBC.

Currie said deflation, as the dollar heads higher is lowering the cost of mining metals like gold and copper. The commodity expert said divergence in the health of the U.S. market compared to other emerging economies also is putting pressure on commodities. Finally, he said de-leveraging in emerging markets like China, which is wrestling with an intractable stock market , is hamstringing commodity prices.

There may be a chance for a bounce in commodities if the Federal Reserve, which is expected to release a policy statement at 2 p.m. Eastern Time Wednesday, signals that it may wait to raise rates, the Goldman Sachs analyst said.

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From:: Stock Market News

Humana Inc. reported a second-quarter net profit of $793 million, or $2.85 a share, compared with $646 million, or $2.19 a share, in the same period a year ago. Excluding non-recurring items, such as a gain from the sale of assets, adjusted earnings per share came in at $1.67. The FactSet consensus was $1.63. Revenue rose 12% to $13.73 billion, just shy of the FactSet consensus of $13.77 billion, as a 12% increase in total premiums and services revenue of $13.62 billion missed the FactSet consensus of $13.71 billion. Individual Medicare Advantage membership as of June 30 increased 15% from a year ago to 2.7 million, while group membership declined 1.4% to 473,100. The healthcare company agreed earlier this month to be acquired by Aetna Inc. for $37 billion. “While certain operational challenges impacted our second quarter results, we are encouraged by recent progress and appreciate the diligence with which our leaders and associates have worked to overcome these issues,” said Chief Financial Officer Brian Kane. The stock, which was still inactive in premarket trade, has run up 28% year to date, while the S&P 500 has gained 1.7%.

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From:: Stock Market News

Yahoo unveiled a new app, called Yahoo LiveText, Wednesday that combines live-video and texting, but without audio. “Interactions, from a goofy smile, to an eye roll and a sigh, mean ‘Lol’ isn’t needed to ensure the meaning of a text message – as real-time reactions are placed at the center of the conversation,” Yahoo said in its press release. The app, for iPhone and Android phones, will be rolled out worldwide starting with Hong Kong, Taiwan and Ireland. On Thursday, the app will be available in the App Store and Google Play store in the United States, United Kingdom, Canada, Germany and France.

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

By Liz Gray

We all have that favorite dress or pair of jeans: You know, the one that can be dressed up or down and looks great for any occasion. Well, think of Chicago-based Susan Brunstrum‘s designs as the interior equivalent to that go-to piece; she even calls her versatile, approachable Sweet Pea Interiors spaces the “little black dresses” of design.

This showhouse living room is classically chic and trend-forward all at the same time, with layered, neutral textures from the wall treatment, sofa, throw pillows and rug. Or, think of this room like your favorite pair of jeans: It’s neutral, lived-in and extra comfy on a Sunday afternoon.

We caught up with Susan to get her answers to our trusty Design Happens questionnaire. Find out her design pet peeves and her style idols after the jump.

Thanks, Susan! Which designer would you like to hear from next? Tell us in the comments below. And see more of Susan’s latest designs at her HGTV Professionals Network profile.

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From:: HGTV

Greece’s stock market is unlikely to open this week due to technical issues at local banks, according to a Reuters report citing a spokeswoman for the Athens Stock Exchange. The report said Greek banks need to resolve some IT problems, with those problems tied to restrictions that prevent local investors from using bank deposits to buy securities. MarketWatch previously reported that trading in Greek stocks might reopen this week, but there may be more drama for the beleaguered Greek market, shut since late Juen, given the recent global stock selloff.

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From:: Stock Market News

By Rachel Jefferson

In a new study released by the US Census Bureau, it was found that home ownership has dropped to 63.4 percent, the lowest it has been since 1967. Some economists attribute it to the real estate market crash of 2008, others blame it on wage growth and mortgage standards failing to keep up with rapidly increasing real estate prices. “We’re still suffering the effects of the housing collapse and the financial crisis,” said Mark Vitner, senior economist with Wells Fargo Securities in Charlotte.

Demand for rentals is growing, fueling a surge in multifamily construction and sending leasing costs soaring.

Read the full story on Bloomberg.

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From:: Property Management

The worldwide tablet market declined 7% year-over-year in the second quarter, the third straight quarter of declines in an industry dominated by Apple Inc.’s iPad, according to industry tracker IDC. Tablet shipments totaled 44.7 million units, a decrease of 3.9% from the quarter prior, according to IDC’s preliminary data. “We’re seeing a profound shift in the vendor landscape as the top two vendors, Apple and Samsung, lose share in the overall market,” said Jean Philippe Bouchard, IDC Research Director for Tablets. Both Apple and Samsung Electronics lost share of the market during the quarter, with Apple’s dropping to 24.5% of the market compared with 27.7% last year, and Samsung’s declining to 17% from 18%. IDC blamed the decline on “little hardware innovation” and limited vendor portfolio updates.

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From:: Stock Market News

Oil prices turned higher after the U.S. Energy Information Administration on Wednesday reported a decline of 4.2 million barrels in crude supplies for the week ended July 24. Analysts polled by Platts forecast a crude-stock fall of 700,000 barrels, while the American Petroleum Institute Tuesday said supplies declined 1.9 million barrels, according to sources. Gasoline supplies fell 400,000 barrels while distillate stockpiles climbed 2.6 million barrels last week, according to the EIA. September crude was at $48.13 a barrel, up 15 cents, or 0.3%, on the New York Mercantile Exchange. Prices traded lower at $47.70 before the report.

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From:: Stock Market News

New England Patriots owner Robert Kraft said he was wrong to put his faith in the NFL rather than pursue a legal challenge to the league’s four-game suspension of star quarterback Tom Brady over his role in playing a playoff game last season with an underinflated football. Kraft said at a televised press conference in Foxborough, Mass., that Brady is a man of high integrity and an excellent ambassador for the team and the league. The owner called reports this week about Brady’s destruction of a mobile phone intentionally inflammatory and misleading. Coach Bill Belichick followed Kraft’s remarks by saying that there is “nothing to talk about” with regard to the ball incident, which has come to be called “Deflategate.”

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