Verizon’s Rethinking Canada, Apple Inching Towards China Mobile Deal: Market Recap
U.S. stocks fell today with the S&P 500 having its worst week since June as Treasuries slumped and 10-year yields reached two-year highs. Data released today showed that housing starts increased 5.9 percent but consumer confidence fell this month. Also of concern is qualitative easing with 65 percent of economists surveyed by Bloomberg saying they believe the Federal Reserve will start tapering stimulus in the next month.
Gold: +0.87% to $1,372.80 per ounce Oil: +0.17% to $107.51 per barrel U.S. 10-Year: +2.69 to 2.829%
Labor Productivity Edges Higher as Economy Heals: Non-farm business sector labor productivity increased at a seasonally adjusted annual rate of 0.9 percent in the second quarter, according to preliminary estimates from the U.S. Bureau of Labor Statistics released Friday. This is the function of a 2.6 percent increase in output and a 1.7 percent increase in hours worked during the second quarter compared to the first quarter.
Regulatory Realities: EU Banks to Use Common Metrics for Stress Tests: Financial regulations are all the rage in the political world right now and Europe is going through its fair share as it prepares for banks to undergo stress tests and asset quality reviews in the coming months, Reuters reports.