Nursing a Fed hangover: What you need to know before markets open – FINANCIAL NEWS-ecozik.com
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Nursing a Fed hangover: What you need to know before markets open

North American markets look set for a flat to slightly higher open today after the U.S. Federal Reserve gave little indication of slowing the pace of interest rate hikes despite the turbulence in global markets.

North American markets look looking for a flat to slightly higher open today after the U.S. Fed gave little indication of slowing the pace of interest rate hikes despite the turbulence in global markets.

The Fed kept rates unchanged and said it was “closely monitoring” global economic and financial developments.Benchmark Brent crude was up nearly 1 percent, after Russian officials decided to talk to Saudi Arabia and other OPEC countries about cutting production to assist prices.Potash Corp of Saskatchewan  reported a lower-than-expected quarterly profit and slashed its quarterly dividend, hurt by weakening fertilizer prices.Shares of Canadian train and plane maker Bombardier closed below $1 on Wednesday for the first time since 1991, putting the company at risk of being pushed from major Canadian indices.Enbridge Inc, Canada’s largest pipeline company, said hello would buy Murphy Oil Corp’s Tupper Main and Tupper West gas plants in northeastern British Columbia for $538 million.U.S. stocks closed sharply lower on Wednesday, using the S&P 500 falling a lot more than 1 percent, after the Fed’s statement didn’t impress some investors. Investors and also the central bank will now look to economic data for clarity on the health of the U.S. economy.Separate reports on Thursday are expected to exhibit durable goods orders fell 0.6 per cent in December, while jobless claims likely fell to 282,000 a week ago. Both reports are due at 8:30 a.m. ET.Dow component Visa is slated to report before the bell, and tech heavyweights Microsoft and Amazon are the type of expected to report results after the close.Ford’s shares were up 2.5 per cent at $12.15 after the company’s results.Facebook surged 11.7 percent to $105.50 following the world’s biggest online social networking reported a 52 percent jump in revenue.EBay sank 11.9 percent to $23.28 premarket following the company forecast weaker-than-expected quarterly revenue and profit, while PayPal, which was spun-off from eBay, was up 5.3 per cent at $33.25 after its revenue beat estimates.
? Thomson Reuters 2016

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