Keith Bliss of Cuttone and Company joins Yahoo Finance's Alexis Christoforous from the floor of the New York Stock Exchange to discuss stocks in the financial sector.Read More »
It’s a lot harder for David Yim to rack up the airline miles these days. The bond underwriter at Standard Chartered Plc used to fly across the Pacific from Hong Kong to the U.S. four or five times a year to arrange dollar-debt deals, but he’s not sure he’ll make it even once in 2017. Such is the gravitational pull China is having on the market for dollar bonds issued by Asian companies and banks. Borrowers used to tap U.S.-based investors when they sold dollar securities. Now, there’s a big enough pool of greenbacks in Asia and predominantly Chinese buyers are able to take up the vast majority of bonds sold in dollars. Within three years, this market may reach $1 trillion, composed mostly of
Stocks opened on the advance Wednesday, despite some weak early housing data, as the Nasdaq and S&P 500 looked to revive their rebounds stalled on Tuesday. XAutoplay: On | Off The Nasdaq Composite and the S&P 500perked up 0.3% at the starting bell. The Dow Jones industrial average added 0.2% above fair value. Housing starts and building permits fell off sharply in July, the Commerce Department reported, with starts slipping to an annualized rate of 1.155 million in the normally busy summer season, down from a rate of 1.215 million in June and disappointing forecasts for an increase to 1.225 million. Building permit activity slowed to an annualized rate of 1.223 million, vs. June's 1.254 million
U.S. telecom behemoth AT&T Inc.’s T DirecTV deceptive advertising lawsuit filed by the Federal Trade Commission (FTC) in Mar 2015, is currently on trial in the federal court. The trial became functional from this Monday with opening arguments in U.S. District Court in Oakland, CA, and is scheduled to last 20 days. FTC lawyer Jacob A. Snow clearly pointed out that 33 consumers were deceived by the company during the span of 2007-2015. As a result of sign-ups and deceptive practices, DirecTV is estimated to have made $3.95 billion.