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Fed to make sequential hikes until ‘something breaks’: Gundlach

Jeffrey Gundlach, chief executive officer at DoubleLine Capital, said on Tuesday he expects the Federal Reserve to begin a campaign this month of “old school” sequential interest rate hikes until “something breaks,” such as a U.S. recession. Gundlach, who oversees more than $101 billion at Los Angeles-based DoubleLine, said U.S. …

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Snap slumps 12 percent, closes at lowest since IPO

Shares of Snap Inc (SNAP.N) slumped 12 percent on Monday and closed at their lowest level of the three sessions since the Snapchat owner’s soaring market debut last week. The $3.4-billion listing last Thursday was the hottest technology offering in three years, but the loss-making company’s lofty valuation and slowing …

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Futures fall amid North Korea missiles, Trump wiretap talk

U.S. stock index futures fell on Sunday amid news of North Korea’s firing of four ballistic missiles and President Donald Trump’s accusation that his predecessor, Barack Obama, wiretapped him. U.S. stocks have climbed to all-time records, with the Dow piercing the 21,000 mark last week for the first time and …

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Yellen points to March rate hike as Fed signals end of easy money

The U.S. Federal Reserve’s long-stalled ‘liftoff’ of interest rates may finally get airborne this year as policymakers from Chair Janet Yellen on Friday to regional leaders across the United States signaled that the era of easy money is drawing to a close. Yellen capped off a seemingly coordinated push from …

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Dollar firm, shares slip in Asia as Fed rate hike looms

The dollar held broad gains on Friday as the risk of an imminent U.S. interest rate hike slugged sovereign bonds and commodities, even managing to sour Wall Street’s party as the reality of rising borrowing costs began to sink in. Asian stock markets were mostly lower, with MSCI’s broadest index …

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Asian shares advance, dollar supported by March rate hike bets

Asian shares rose on Thursday as investors were encouraged by President Donald Trump’s less combative tone in his first speech to Congress, which sent Wall Street stocks sharply higher, while growing bets on a U.S. rate hike this month buoyed the dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan …

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Dollar, Treasury yields jump on Fed jolt as Trump speech looms

The dollar and Treasury yields jumped on Wednesday after Federal Reserve officials jolted traders by suggesting an interest rate rise may be imminent even as markets remained on tenterhooks ahead of a looming speech by U.S. President Donald Trump. Stock markets in Asia were also pulled lower on concerns Trump’s …

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Samsung Group chief to be charged with bribery, embezzlement amid scandal

South Korea’s special prosecutor’s office said on Tuesday it will charge Samsung Group chief Jay Y. Lee and four other executives with bribery and embezzlement amid a political scandal that has rocked the country. Lee was arrested on Feb. 17 over his alleged role in the corruption scandal involving impeached …

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Warren Buffett rails against fee-hungry Wall Street managers

Billionaire Warren Buffett, whose stock picks over several decades have enriched generations of Berkshire Hathaway Inc (BRKa.N) shareholders, delivered a black eye to the investment industry on Saturday, urging ordinary investors to buy plain-vanilla index funds. “When trillions of dollars are managed by Wall Streeters charging high fees, it will …

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Wall Street edges higher to give Dow 11th straight record

Wall Street edged higher on Friday, with the Dow extending its streak of record-setting gains to 11 days, as increases in utilities and other safety plays outweighed declines in financials. Major Wall Street indexes have rallied to record levels since the election of Donald Trump as U.S. president, boosted by …

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