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Dow heads higher, withdraws warning sign for recession

Investors are eagerly awaiting Federal Reserve Chairman Jerome Powell's speech in Jackson Hole on Friday as they search for direction on the future of US monetary policy. Dow ( INDU ) traded 135 points, or 0.5%, higher. S&P 500 ( SPX ) and Nasdaq Composite ( COMP ) had sales of 0.3% and 0.2 % higher, respectively. All three indices …

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The Fed's Harker sees no need for further interest rate cuts

Patrick T. Harker, President of the Federal Reserve Bank of Philadelphia Charles Mostoller | Bloomberg | Getty Images Philadelphia Fed President Patrick Harker said Thursday that while he reluctantly supported the central bank's interest rate cut in July, he does not see the matter for further stimulus. "We're about where neutrals are. It's hard to know exactly where neutrals are, …

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Qantas to test human endurance on a 19-hour flight

SYDNEY – The 18 hour flight barrier has been broken. Now a jet of passengers and crew wired with sensors will try for 19. Pilots on two scheduled trips from New York to Sydney by Qantas Airways Ltd. This year will use a device to track brainwave patterns and alertness, feeding back data that will help shape the future of …

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Stock futures are higher when detailed earnings boost consumer confidence by Reuters

By Akanksha Rana (Reuters) – US stock index futures stabilized on Thursday as strong results from retailers boosted consumer confidence, with investors looking forward to Fed Chief Jerome Powell's speech for more clues about future interest rate developments. Upscale retailer Nordstrom Inc (N 🙂 jumped about 7% in premarket trading when it joined Target Corp (N 🙂 and Lowe's Cos …

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The unemployment requirement is falling more than expected

The number of Americans who applied for unemployment benefits fell sharply last week, suggesting that the labor market remained tight despite a downturn in industry and concerns the economy is on the path of recession. Initial state unemployment benefit claims dropped 12,000 to a seasonally adjusted 209,000 for the week ending Aug. 17, the Labor Department said Thursday. Last week's …

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