U.S. Stocks stable amid home data and Syria concern

Source: Bloomberg
© Scanpix/Reuters

U.S. Stocks were stable, following the S&P's 500 Index plunge to the lowest in eight weeks yesterday, as data indicated pending sales of ready-to-live homes reduced by 1.3% in July and concerns over Syria keep investors cautious. The S&P 500 added almost 0.1% to 1,680.87 as of 10:07 a.m. New York time, while the Dow Jones Industrial Average gained 0.1% to 14,789.44.

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Wed, 28 Aug 2013 16:31:05 GMT

Pound returns from three-week low against Euro on Carney's growth vision

The Pound appreciated from a three-week low as BoE Governor could not convince investors that interest rates will be kept very low. The sterling added 0.4% to 85.82 pence per Euro as of 3:18 p.m. in London, while the Pound lost 0.1% to $1.5530, following a drop to $1.5429 on August 14. The two-year gilt yield soared 0.05 percentage points

Wed, 28 Aug 2013 15:58:04 GMT

Carney from BoE reassures markets that the central bank will keep interest rates low

BoE Governor Mark Carney reassured in his speech that interest rates will not rise before jobless rate hits 7%. The jobless rate is predicted to hit 7% not before late 2016, implying that the key rate will remain at ultra low 0.5% until then.

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