Wall Street ended slightly lower Thursday as investors await a
much-anticipated speech by Federal Reserve Chairwoman Janet Yellen on Friday
that may offer clues to the central bank’s next rate move.
Asian stocks were mixed Thursday morning as traders pulled back, awaiting
the next meeting of the FOMC and Fed Chair Janet Yellen’s decision on whether
to set another rate hike in motion.
A recent report published in collegedebt.com has the current student debt
in the U.S. standing at $1.4 trillion.
The dollar moved up on Wednesday as markets looked towards the meeting of
global central bankers in Wyoming and a speech by Fed Chair Janet Yellen on
Friday for clues on whether the Federal Reserve is poised to hike interest
rates again.
Crude oil prices continued to fall in early Asian trade Tuesday, as
optimism for a production freeze faded on reports that Iraq is preparing to
ramp up exports and Nigeria could follow soon.
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The dollar continued to gain against the yen and euro on Monday on positive
reports from U.S. Federal Reserve policymakers who expressed support for a
near-term U.S. interest rate hike.
Oil prices surged dramatically in the last two weeks thanks to OPEC freeze
talk, but there's little expectation the cartel will act, especially now that
crude is trading 24 percent higher just on hot air.
The U.S. dollar hit a seven-week low against a basket of major currencies
on Thursday, following the release of the minutes from the Federal Reserve's
July meeting which indicated that there were more policy committee members
opposed to a near-term rate hike than those who were in favor of one.
The U.S. is experiencing a drastic drop in debt due to a drastic sell-off
by a host of foreign central banks.
Egypt has already received tens of billions in aid including over $25
billion in cash injections from Gulf states. but that seems to be a drop in the
Egyptian bucket. Now the IMF is stepping in with a tentative loan of $12
billion over the next three years.