Wall Street holds breath for rate hike
Wall Street awaits Federal Reserve rate action as Janet Yellen signals deliberation. Markets consider possible September hike while noting stocks often withstand higher rates, with recent housing starts easing after an April surge and recalls shaping auto sentiment.
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Wall Street
Stocks Rise Amid Rate Hike Signals and History
Analysis shows stocks often wobble before rate hikes but S&P 500 averaged 16.1% gains across tightening cycles, with a 32.9% surge in 1987 before the crash. The 1994 95 hike saw a 3% drop after the first move and 1.2% for the year. Future hikes may be gradual toward normal levels.
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Fed
S&p 500
Bofa
S&p
Federal Reserve Board
Bofa Merrill Lynch
Asia Tops Millionaires Count Yet North America Leads Wealth
The 2015 World Wealth Report shows Asia-Pacific hosts about 4.69 million millionaires by end of 2014, edging North America by a small margin though the region holds $16.2 trillion in assets. US, Japan, Germany, and China account for 60 percent of millionaires, with the top 1% owning a large share of wealth.
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Asia- Pacific
North America
Asia-Pacific
Royal Bank of Canada
Capgemini
Japan
Germany
China
Census Bureau
U.S
Boston Consulting Group
ABC
Knight Frank
FDA orders phase out of partially hydrogenated oils over three years
The FDA announced a three year phase out of partially hydrogenated oils used in cake mixes frosting frozen desserts and processed foods. The shift aims to remove trans fats linked to higher cholesterol and heart attack risk with industry costs estimated at 12 to 14 billion dollars and per product label changes up to 200 000 dollars.
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Food and Drug Administration
Betty Crocker
Pillsbury
Bisquick
Marie Callender
FDA
Roger Clemens
University of Southern California
Alice Lichtenstein
Tufts University
Rosemary Trout
Drexel University
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Contributing
Liz Szabo
Olson