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  • Bank of Canada maintains rate targets, revises growth outlook

    The Bank of Canada opted to maintain its target for the lending rate at 1 percent, while cutting its outlook on economic growth through 2015. The central bank downgraded its growth outlook to 1.6 percent this year, 2.3 percent in 2014 and 2.6 percent in 2015. In July the BoC projected the Canadian economy to

  • Caterpillar Crashes on Q3 Weakness
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    Caterpillar Crashes on Q3 Weakness

    October 24, 2013, 06:12 GMT

    Shares of Caterpillar(NYSE:CAT) were sent tumbling to the downside on Wednesday morning following a dismal third quarter report in the morning. The well known industrial giant posted a lower-than-expected quarterly profit while cutting its full-year forecast yet again. Weak demand from mining customers continued to hurt the earnings on the company. Caterpillar, the world’s largest

  • US stocks rise as signs of prolonged stimulus emerge

    US stocks continued to rise and the Standard & Poor’s 500 set a fresh record high after the Labor Department said employers hired fewer workers than projected in September. Job growth slowed to 148,000 in September following a revised 193,000 gain the previous month, the report showed. Economists expected US employers to add 180,000 payrolls

  • Stock rally cut short as partial government shutdown enters its second day

    The stock market’s rally was short-lived as the US government shutdown weighed heavily on investors, who are desperately trying to size the effects of the budget impasse on the US economy. The federal government entered its second day of a partial shutdown, as Democrats and Republicans continue to disagree on how to fund the government.

  • Apple stock supported by strong iPhone sales

    Shares of Apple, Inc (NASDAQ:AAPL) have soared nearly 5 percent over the past two days after the company said it sold 9 million iPhones over the weekend. The next-generation iPhones flew off the shelf after hitting the markets Friday, with supply of the new 5S model unable to keep pace with the demand. Apple shattered

  • Stocks decline as investors weigh Fed stimulus

    US stocks traded on the downside Thursday as investors anticipate next Tuesday’s Federal Open Market Committee policy meetings. The markets have been at the mercy of policy talks since Fed Chairman Ben Bernanke first hinted at an asset taper in May. Since that time the mostly bullish markets have reacted sharply to monetary policy expectations.

  • Negative momentum points to lower prices

    Oil prices retreated from their recent highs falling nearly $5 per barrel on a WTI basis.  The decline comes despite better than expected inventory data released by the Department of Energy on Friday and is more of a function of weakening global economic data. On Wednesday, global banking giant HSBC (NYSE:HSBC) released their flash PMI

  • UK economy to rebound strongly in 2015

    After having barely avoided a triple-dip recession in 2012, the UK economy appears to be headed in the right direction, albeit ever so gradually. Anticipation over the arrival of new Bank of England governor Mark Carney created an overwhelming sense of uncertainty for British assets for much of the calendar year, as investors wrestled with

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