The latest news and events driving markets around the world, supplied by Marketwatch and Reuters.
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- Facebook Inc crushed quarterly profit and revenue estimates on Wednesday as the social media giant's push into video ads helped bolster its fast-growing mobile ad business. The company's shares were up 1.4 percent at $168 after the bell. Facebook said about 2.01 billion people were using its service monthly as of June 30, up 17 percent from a year earlier.
By Carla Mozee and Victor Reklaitis, MarketWatch. British GDP meets expectations with 0.3% rise in second quarter. U.K. stocks closed higher Wednesday, helped in part by rises for miners and broadcaster ITV PLC, while expectations for modest growth in the British economy were met.
Dollar index trades at its lowest level since June 2016, following U.S. central bank's policy update. The U.S. dollar fell on Wednesday, erasing an earlier gain after the Federal Reserve was seen as striking a somewhat cautious note on inflation, which is seen as bearish for greenback. The U.S. central bank said inflation was "running below 2%" instead of "running somewhat below 2%," as it had in its June statement.
Can the Federal Reserve take away the punchbowl from the stock market without taking it away from the economy? The Fed left rates steady at the conclusion of its two-day policy meeting Wednesday and, given worries about low inflation, investors are doubtful whether another rate increase is coming this year. But the central bank doesn't seem to have any qualms about starting to run down the massive stock of Treasury and mortgage securities that it accumulated in the wake of the...
Nikkei snaps three days of declines. Asian shares gave up earlier gains Wednesday, though Japanese and Australian stocks outperformed, helped by an improvement in appetite for risk, which pushed the U.S. dollar and commodity prices higher overnight. Commodities led the charge in European and U.S. trading on Tuesday, with copper prices jumping 4% and oil rising more than 3%.
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