GOP Tax Proposal Expected to Benefit Wall Street Firms
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A lower corporate tax rate as called for in the tax framework unveiled by the Trump administration should immediately boost banks' own profits. Bankers expect some pain points, but are confident the benefits will outweigh them.
U.S. Second-Quarter GDP Rose 3.1%
U.S. economic output grew at a 3.1% annual rate in the second quarter, slightly stronger than previously thought and marking the best growth in two years.
Stocks Rise, Led by Materials Sector
Rising shares of chemical companies helped lift the S&P 500. Trading activity was relatively muted as investors took advantage of some recent pullbacks and gauged the likelihood that Republicans would pass their proposal to overhaul the tax code.
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'Amazon Effect' Leads Investors to Sour on Retail
Amazon.com's expanding reach is prompting investors to dump shares of retailers far from the U.S. While the "Amazon effect" has been most pronounced in the U.S., investor concern overseas has risen.
EU on Brexit: Progress Made but Not Enough to Open Trade Talks
The European Union's chief Brexit negotiator warned it could still be months before enough progress is made in talks with the U.K. for the bloc to be ready to discuss a future trade relationship with Britain.
Eurozone Business, Consumer Confidence Surges Despite ECB Signals
Businesses and households across the eurozone were more upbeat about their prospects than at any time in over a decade during September.
Fed's George Still Sees Need for Gradual Rate Rises
Kansas City Fed President Esther George again called for gradual increases to short-term interest rates, saying such moves should help foster sustainable growth and financial stability.
U.S. Jobless Claims Rose Last Week
The number of Americans applying for new unemployment benefits rose last week, at least partially reflecting job loss due to hurricanes Harvey and Irma.
SEC's Top Cop in New York to Leave Agency
The chief of the Securities and Exchange Commission's New York office plans to leave the agency in October after 17 years, the regulator said.
Bank of Mexico Keeps Interest Rates Steady
The Bank of Mexico left interest rates unchanged, but warned of new short-term inflation risks following two deadly earthquakes that caused widespread damage.
(END) Dow Jones Newswires
September 28, 2017 17:15 ET (21:15 GMT)