Wall Street drops at open; Fed in focus
U.S. stocks fell at open on Tuesday as investors stayed away from making big bets ahead of the Federal Reserve's two-day policy meeting, where it is widely expected to cut interest rates.
U.S. stocks fell at open on Tuesday as investors stayed away from making big bets ahead of the Federal Reserve's two-day policy meeting, where it is widely expected to cut interest rates.
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WeWork's 7.875% bond due in May 2025 fell 5.46 points to 96.3 cents in early trading on Tuesday after its parent, the We Company, postponed its initial public offering.
U.S. manufacturing output increased more than expected in August, boosted by a surge in machinery and primary metals production, but the outlook for factories remains weak against the backdrop of trade tensions and slowing global economies.
Judy Shelton, U.S. President Donald Trump's pick to fill a vacant seat at the Federal Reserve, downplayed the independence of the central bank on Tuesday and called on the Fed to work more closely with the White House, an approach that would upend how it currently conducts monetary policy.
The Benetton family is set to replace the powerful head of Atlantia with a management board and co-opt a veteran right-hand man to help steer the infrastructure group through fallout from a deadly bridge collapse, three sources said.
Anheuser-Busch InBev NV will brave jittery Hong Kong markets in a second attempt to spin off its Asian business on Wednesday, aiming to raise up to $6.6 billion in what could be the world's second largest IPO this year.
Iran's supreme leader on Tuesday ruled out talks with Washington after President Donald Trump blamed Tehran for a crippling attack on Saudi Arabia's oil facilities.
U.S. stocks edged lower on Tuesday as a drop in oil prices weighed on the energy sector, while investors stayed away from making big bets ahead of the Federal Reserve's two-day policy meeting, where it is widely expected to cut interest rates.
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An attack on Saudi oil installations that halted half the kingdom's output could harm French diplomacy meant to avert feared U.S.-Iranian conflict, diplomats said after President Emmanuel Macron's top envoy held talks in Saudi Arabia.
Saudi Arabia has yet to brief fellow OPEC members and other energy sector players about how long it will take to restore the country's oil output, OPEC and industry sources said as Riyadh tries to assess damage from the weekend's crippling attacks.
Saudi Arabia's oil output will be fully restored quicker than thought following weekend attacks on production facilities, two sources briefed on developments said on Tuesday, taking two or three weeks not months as initial indications suggested.
U.S. House of Representatives Speaker Nancy Pelosi has requested a briefing for all House members on the Saudi Aramco attacks and Iran, a spokesman said on Tuesday.
Kuwait's foreign minister called on the country's armed forces to be on high alert and prepared to confront any incident that may destabilize the country's security, state news agency KUNA reported on Tuesday.