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  • Look for the Fed to hike interest rates this week and ignore the elephant in the room
    Business
    MarketWatch40 minutes ago

    Look for the Fed to hike interest rates this week and ignore the elephant in the room

    You can expect the Federal Reserve to raise interest rates this week, but look for it to shy away from the bigger question looming for financial markets: How does the shock outcome of the presidential election change the economic landscape? The Fed is widely expected to announce an increase in the target range for its federal funds rate to between 0.5% and 0.75% when its two-day meeting wraps up Wednesday, analysts agree. It will be the first increase of 2016, a year once expected to produce at least a couple of rate adjustments. The stock SPX, -0.11% and bond markets TMUBMUSD10Y, -0.28% have a quarter-point move baked in the cake. At the same time, Fed officials are expected to duck questions

  • Big Oil is in decline, and the OPEC deal can’t rescue it
    Business
    MarketWatchyesterday

    Big Oil is in decline, and the OPEC deal can’t rescue it

    The big news this week was an OPEC deal, finalized Saturday, to cut oil production. The deal finally made good on talk about a worldwide cut in oil production. The deal resolves to remove about 2% of global oil production, with the Organization of Petroleum Exporting Countries’ member states cutting 1.2 million barrels of daily output and non-OPEC producers, including Russia, reducing 600,000 barrels daily. The news earlier in the week that a deal had been struck had a big impact on the market, resulting in a roughly double-digit move for oil CLF7, +4.83%  , putting prices above $50 again for the first time since June. And a number of smaller energy companies have exploded higher, including:

  • Business
    CNBC12 hours ago

    After-hours buzz: BA, WFC, PAY & more

    Shares of Boeing (BA) were up after choppy trade, following the company's announcement it was cutting production of its 777 model. Vice President and General Manager Elizabeth Lund sent a message to all employees working on the 777 model to inform them that beginning in August, the program will produce five airplanes a month down of its current rate of seven per month. Separately, the Boeing board raised its dividend and renewed its share repurchase authorization.