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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Feb 02, 2017
Page
4
The Federal Reserve left the benchmark interest rate unchanged amid solid growth and rising uncertainty tied to the Trump agenda. Inflation is seen rising to 2 percent, with no March rate hike hinted and markets awaiting Janet Yellen’s testimony.
Menlo Park based Facebook reports 4th quarter earnings of 3.56 billion dollars, or 1.21 per share, up from 1.56 billion and 0.54 per share a year earlier. Revenue reaches 8.81 billion with adjusted 1.41 per share, beating 16 analyst estimates. Shares rise 2.3 percent after hours to 136.31, lifting year to date gains to 16 percent.
Automakers report declines in January with Toyota and Fiat Chrysler leading the drops while Nissan and Honda rise. Industrywide incentives averaged about 3,635 per vehicle as firms chase fleet deliveries and strong SUV pickup demand amid a cooling start to the year.
Wall Street finished near session highs as Apple surged after reporting stronger iPhone sales in its latest quarter. Fed kept rates unchanged while noting a stronger job market and modestly rising inflation, with broader gains fading as investors rotated out dividend payers. Apple rose 6.1 percent to 128.79 as technology shares led the rally.
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