CVS Shares Jump as Outlook Improves After Target Deal
CVS Health rose 5.4 percent to 97.56 as the earnings outlook was lifted by the parent company. Full 2016 per share earnings are now forecast at 5.73 to 5.88, up from 5.68. CVS completed its 1.9 billion purchase of Target's 1,672 pharmacies announced in June. An anonymous donor at two Ohio Walmart stores paid off layaways totaling over 106 thousand dollars, easing holiday cheer for customers. Dow Jones industrial index noted in brief.
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USA SNAPSHOTS Average CD yields As of Wednesday
Median CD yields across funds and certificates are reported for the week ending Wednesday. Bond markets show modest changes with some credit spreads narrowing as investors await economic data and Fed signals.
Fed raises rates for first time since 2006 in 0.25 point move
The Federal Reserve boosted its benchmark rate by 0.25 percentage point marking the first increase since 2006 to curb inflation and steady growth. President Janet Yellen said policy remains accommodative as inflation stays below target and labor markets improve. The move signals gradual tightening ahead with observers eyeing potential June action and slower pace than earlier projections.
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Markets rise as Dow up 224 after Fed rate hike
Stocks gained broadly after the Federal Reserve delivered a quarter point rate increase the first in nearly a decade. The Dow Jones Industrial Average finished up 224 points at 17,749 as the broader market rallied with the S&P 500 and Nasdaq both up about 1.5 percent.
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End of U.S. oil export ban seen as limited price impact
Congressional negotiators reach a $1.1 trillion deal to end the four-decade ban on most U.S. crude exports. Analysts say prices won’t swing sharply. Brent and WTI trade near the mid 30s as oversupply, weak demand, and OPEC keep a lid on gains.
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