Bonds & Stocks
Wall Street traders gearing up for the Federal Reserve decision drove bonds lower as stocks remained steady after data showed the world’s largest economy is holding up. The dollar advanced for a fifth straight day. S&P 500 futures were little changed, with investors also awaiting results from Microsoft Corp.
Economy
US economic activity rebounded in the second quarter on a modest pickup in consumer spending and a marked drop in imports after a scramble to secure foreign goods earlier in the year. Inflation-adjusted gross domestic product, which measures the value of goods and services produced in the US, increased an annualized 3% after shrinking at a 0.5% rate in the previous period.
World
Ukraine will begin holding long-term electricity trading auctions with Slovakia, Hungary and Romania after its energy regulator approved new rules aimed at strengthening cross-border energy integration with the EU, reported Ukraine Business News. The move marks a significant step forward in Ukraine’s integration with the EU energy market.