Federal Reserve policy makers say they want to avoid a sudden increase in interest rates when the time comes to start unwinding record monetary easing. A shrinking federal budget deficit is likely to help them meet that goal.
General Motors Co.’s redesigned full- size pickups are bolstering analysts’ confidence that the automaker’s shares will keep climbing after topping their initial public offering price for the first time in two years.
Hedge-fund managers are making the biggest ever bet against gold as billionaire George Soros sold holdings last quarter and Goldman Sachs Group Inc. predicted more declines after the longest slump in four years.
Federal Reserve Bank of Chicago President Charles Evans said the U.S. economy has improved “quite a lot” as the central bank maintains record stimulus and expressed confidence policy makers have tools needed to monitor markets for excesses.
The yen rebounded from the weakest level since October 2008 as Japan’s economy minister expressed concern about its slide. The Standard & Poor’s 500 Index reached another record amid optimism about dealmaking, while natural gas led gains in commodities.
FirstGroup Plc, the company stripped of Britain’s premier U.K. rail route in 2012, fell the most in 18 years after halting its dividend to focus on a 615 million- pound ($936 million) rights offer and avert a credit downgrade.