S&P Global Ratings cut China’s sovereign credit rating by one step, to A+ from AA-, and revised its outlook to stable from negative.Read More »
Kindred Healthcare Inc. expects Hurricanes Irma and Harvey to have a $20 million impact on its pretax earnings for the third quarter. The company has about 16,000 employees in the areas affected by the storms, according to a news release. It operates 18 long-term, acute-care hospitals in the areas, along with about 100 Kindred at Home sites, two inpatient rehabilitation hospitals, one sub-acute unit and external rehab therapy contract services for about 100 sites Those businesses represent about 16 percent of the company's revenue. All of the company's Houston hospitals remained operational during and after Harvey. In Florida, as a safety precaution, two of Kindred's 10 Florida hospitals temporarily
Apple (AAPL) is falling nearly 2% in heavy volume, breaking below a significant technical level. With the breach of the 50-day line, that also puts Apple below a prior buy point at 156.75. But the key question here: Does Apple's action result in a sell signal? The short answer is that it depends on how the stock closes today, and whether you're a long-term or short-term shareholder. Apple was down 1.9% to 155.67 in afternoon trading in the stock market today, tumbling as low as 153.83 on Apple Watch connectivity concerns. Volume is more than double normal levels. If Apple closes below the 50-day, it could be seen as a sell signal for those that bought the stock at the 156.75 entry. But we need
The Federal Reserve took a small step to begin unwinding its crisis-driven asset purchases on Wednesday, but since the move was widely expected, the meeting's real drama hinged on the outlook for future rate hikes. Despite a string of benign inflation readings, Fed policymakers stuck to their guns, indicating a likelihood of four more rate hikes through the end of 2018. The updated outlook reflects a stark contrast with financial-market pricing, which sees just one rate hike (in December) through August 2018, according to the CME Group FedWatch tool. Starting in October, the Fed said it will gradually begin scaling back its $4.5 trillion balance sheet by letting $10 billion in principal run off per month, rather than continuing to reinvest all proceeds of maturing Treasury and mortgage bonds.