The Other Side of Life 24/7: Daily Investor Briefing: Wall St. rallies, S&P back above...

Wednesday, September 24, 2014

Daily Investor Briefing: Wall St. rallies, S&P back above...

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09/24/2014

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Wall St. rallies, S&P back above 14-day moving average

NEW YORK (Reuters) - U.S. stocks jumped in a broad advance on Wednesday, with the S&P 500 snapping a three-day losing streak and climbing back above a key technical level in a move that pointed to improving near-term momentum.

U.S. new home sales at six-year high, but outlook challenging

WASHINGTON (Reuters) - Sales of new U.S. single-family homes surged in August to their highest level in more than six years, a sign the housing recovery remains on course.

Restaurant chain Jimmy John's reports data breach at 216 stores

(Reuters) - Sandwich restaurant chain Jimmy John's said there was a potential security breach involving customers' credit and debit card data at 216 of its stores and franchised locations on July 30.

Air France withdraws low-cost Europe airline plan

PARIS (Reuters) - Air France-KLM offered on Wednesday to withdraw plans to expand the low-cost operations of its Transavia brand in an effort to end a costly strike by French pilots opposed to the project.

Fed should be 'exceptionally patient' on rates: Evans

WASHINGTON (Reuters) - The Federal Reserve should be "exceptionally patient" in removing its monetary policy stimulus, a top Fed official said on Wednesday, even if doing so means allowing inflation to modestly overshoot the U.S. central bank's 2 percent goal.

RBS's Citizens Financial makes a tepid market debut

(Reuters) - Shares of Citizens Financial Group Inc , the U.S. unit of Royal Bank of Scotland Group Plc , rose as much as 8 percent in their market debut, valuing the lender at about $13 billion in the biggest U.S. bank IPO since the financial crisis.

Ex-AIG CEO Benmosche downplays Buffett challenge: Bloomberg TV

(Reuters) - Warren Buffett's Berkshire Hathaway Inc isn't AIG's biggest competitor and AIG handles all its rivals in a very effective way, former AIG Chief Executive Robert Benmosche told Bloomberg TV.

Fed's Mester wants policy guidance to be more data-based

CLEVELAND (Reuters) - Cleveland Federal Reserve President Loretta Mester said she thinks the Fed should overhaul how it communicates its policy guidance, perhaps tying statements about monetary policy to forecasts about economic performance.

U.S. Treasury denies allowing 'excessive' executive pay at GM, Ally

DETROIT (Reuters) - The U.S. Treasury last year permitted top executives at General Motors Co and Ally Financial Inc to collect "excessive pay" while those companies were part of a taxpayer-funded government loan program, a special inspector general reported on Wednesday.

SEC probes Pimco chief Bill Gross's ETF bond fund

(Reuters) - U.S. regulator the Securities and Exchange Commission is investigating whether bond fund manager Pimco inflated the returns of its Total Return Exchange-Traded Fund run by founder Bill Gross, who has come under renewed fire from investors this year over the poor performance of his main fund.