METALS-London copper steadies as short-covering rally fades MELBOURNE, July 30- London copper was flat on Thursday as a short-covering rally lost momentum, as a looming rate rise in the United States possibly as soon as September underpinned the dollar. *Three-month copper on the London Metal Exchange traded flat at $5,328 a tonne by 0055 GMT, after closing a tad firmer in the previous session when prices hit the highest in...
Dollar firm on Fed expectations ahead of US GDP The dollar held steady in cautious trade on Thursday, ahead of U.S. gross domestic product data that could reinforce or expectations that the Federal Reserve is on track to raise interest rates as early as September.
FOREX-Dollar firm on Fed expectations ahead of U.S. GDP report TOKYO, July 30- The dollar held steady in cautious trade on Thursday, ahead of U.S. gross domestic product data that could reinforce or dent expectations that the Federal Reserve is on track to raise interest rates as early as September. The GDP report "may boost the appeal of the greenback and spark a further decline in EUR/USD as signs of a stronger recovery fuels...
| By: Lisa Twaronite
Wynn Resorts profit drops 72 percent in 2nd quarter LAS VEGAS- Wynn Resorts Ltd.' s profit fell 72 percent in the second quarter, stymied by an on-going decline in the Asian gambling enclave of Macau and fewer high-roller Chinese baccarat players in Las Vegas. Still, Wynn said the company is on pace to open its $4.1 billion 1,700- room Wynn Palace casino resort on the Cotai strip area of Macau by March 25.
Source: The Associated Press
Cramer: All about expectations Mad Money host Jim Cramer says expectations often determine where a stock or even an entire market can go in a given session.
UPDATE 3-Whole Foods' New York City overcharging scandal hits sales; stock drops July 29- Whole Foods Market Inc on Wednesday said same-store sales growth cooled again in the third quarter, hurt by competition and an overcharging scandal in its New York City stores, and its shares tumbled 11 percent in after-hours trade. The rapid deceleration is troubling for investors, who have wondered how long Whole Foods could maintain its grip on the...
| By: Lisa Baertlein
COLUMN-Making the perfect the enemy of the good, Fed edition: James Saft July 29- The Federal Reserve, it seems, is still waiting for the economic equivalent of perfection and risks squandering a good opportunity to begin normalizing interest rates. While this may be part of a well-intentioned effort to prepare the ground for investors and avoid a market shock when the increase finally comes, every delay only further reinforces...
| By: James Saft