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News and Insights » Market Review Week Ending: July 14, 2017

Market Review - July 14, 2017

The stock market continued upward after Federal Reserve Chairwoman Janet Yellen gave her 2-day congressional testimony. The address boosted investor sentiment after she signaled a slower path to higher interest rates. Stock markets reacted globally to news causing the European stock index to increase 1.75% and Japanese stocks rallied 1.15%.

The U.S. isn’t the only country that had discussions of interest rates. The Bank of Canada raised its overnight rate target for the first time since 2010. The Bank of Canada cited a robust Canadian economy as the primary reason for an interest rate increase.

Oil Prices continue to see volatility as the WTI Crude Oil price rose 5.2% on the news of positive demand signals and production supply issues in Nigeria. The International Energy Agency reported that the acceleration in demand is being partly driven by significant growth in Chinese crude imports.

July 17th, 2017 @ 12:00am by UMAFS
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