Dow, S&P 500 Climb to Record Close
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The S&P 500 hit a fresh record and posted its best weekly performance since late May, while bond yields and the dollar fell following weak data on retail sales and inflation.
Optimism in Financial Markets Fails to Show in Real Economy
Though stocks have been hitting records and big U.S. banks reported stronger-than-expected earnings Friday, consumers pulled back their spending at midyear and became less optimistic about the future, while inflation on consumer purchases softened.
Earnings Take Shine Off Bank Stocks
A still-challenging environment around lending and interest rates, along with frustration over Washington gridlock that prompted angry remarks from J.P. Morgan's James Dimon, took some of the shine off otherwise solid results from three of the biggest U.S. banks.
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Fed's Evans: Uncertainty Over More Rate Increases This Year
Federal Reserve Bank of Chicago President Charles Evans said "it remains to be seen" if the Fed would stay on its expected path of raising interest rates one more time this year.
Fed's Kaplan Wants Balance-Sheet Reduction to Start Soon
The president of the Dallas Federal Reserve, Robert Kaplan, said Friday that he thinks the Fed should begin reducing its balance sheet "very soon," possibly as early as September.
Banks Get a Wake-Up Call
J.P. Morgan's downgraded expectations, delivered on a busy day when Citigroup and Wells Fargo also reported quarterly results, serves as a warning for a sector that has rallied strongly in recent weeks.
Strong Eurozone Growth Shows Payoff of ECB Stimulus
As the European Central Bank moves toward phasing out its stimulus, evidence of a robust eurozone economy is emerging to suggest the program has achieved its aim.
China Changes GDP Recipe in First Revision Since 2002
Three days before the release of second-quarter GDP, Beijing unveiled revisions to the way it measures the size of its economy, in what it says is an effort to better align its data with international standards.
China-Led Infrastructure Bank Secures AAA Rating from Fitch
Beijing-based Asian Infrastructure Investment Bank secured an AAA rating by Fitch, after receiving the same rating from Moody's Investors Service at the end of June.
Nasdaq Urges Central Clearing of Treasury Trading
Exchange operator Nasdaq told lawmakers that systemic risk in the $13.9 trillion U.S. Treasury market would be reduced by requiring trades be guaranteed by clearinghouses.
(END) Dow Jones Newswires
July 14, 2017 17:15 ET (21:15 GMT)