World stocks hit their highest in more than a year and the dollar fell against the yen on Wednesday as expectations of a rise in Federal Reserve interest rates receded after weak US economic data.
Wall Street looked set to open fl
US job growth surged in June as manufacturers and other employers boosted hiring, confirming the economy has regained speed after a first-quarter lull, but tepid wages suggested the Federal Reserve will probably not raise interest rates soon.
US economic growth braked sharply to its slowest pace in two years as consumer spending softened and a strong dollar continued to undercut exports, but a pick-up in activity is anticipated given a buoyant labour market.
The world’s central banks are scrambling to assess the risk a slowing China poses to their economies and appear to be no closer than most other observers to working out what is going on in the world's second largest economy.
The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday, signalling faith that the US economy had largely overcome the wounds of the 2007-2009 financial crisis.
The US central bank's policy-
After a dizzying two weeks that saw a rapid plunge and rebound in equity prices, investors are looking forward to a week of economic data that may provide clarity on the likelihood of a near-term US interest rate hike and help tamp down the mark
The US economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls, a resurgent dollar and disruptions at West Coast ports, but activity already has rebounded modestly.
The government on Fri
US economic growth nearly stalled in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices slashed spending.
Gross domestic product expanded at an only 0.2 per cent annual ra
The US economy grew at its fastest pace in two-and-a-half years in the second quarter with all sectors contributing to the jump in output in a bullish signal for the remainder of the year.
Gross domestic product surged at an annua
US services sector activity hit an 8-1/2 year high last month and factory orders surged in June, bolstering expectations of solid economic growth in the third quarter.
Tuesday's reports added to employment and consumer spendin