 | | | | Wall Street was little changed on Friday, as U.S. Vice President Mike Pence's decision to defer a speech on China policy increased optimism on upcoming trade talks between Washington and Beijing, though tensions between the United States and Iran undercut sentiment. | | | | | | U.S. Federal Reserve officials were divided Friday over how seriously to treat a slide in inflation, with one top policymaker saying the Fed was "close" to its inflation target and three others warning the weak price increases posed major risks the Fed may need to attack with lower interest rates. | | | | | | Four more U.S. states joined an unusual effort by state attorneys general to stop T-Mobile US Inc's acquisition of Sprint Corp, a New York official said at a court hearing on Friday. | | | | | | Oil futures rose 1% on Friday, with U.S. crude up 10% in the week and global benchmark Brent gaining 5%, on fears the United States could attack Iran and disrupt flows from the Middle East, which provides more than a fifth of the world's oil output. | | | | | | Power producer PG&E Corp will propose a $31 billion bankruptcy restructuring plan that will include two funds worth a total of $34 billion to cover past and future wildfire claims, Bloomberg reported https://twitter.com/scottdeveau/status/1142117995680030720 on Friday. | | | | | | Cryptocurrency firms will be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering, a global watchdog said on Friday, the first worldwide regulatory attempt to constrain the rapidly growing sector. | | | | | | Oil prices built on recent gains on Friday on fears any U.S. military attack on Iran would disrupt flows from the Middle East, while a gauge of global stock markets hovered near seven-week highs following a run spurred by optimism over monetary policy. | | | | | | (This June 20 story is refiled to correct typographical error in paragraph five.) | | | | | | U.S. manufacturing activity barely grew in early June and the service sector cooled, signs that President Donald Trump's trade war with China could be weighing on the economy. | | | | | | All eyes will be on U.S. President Donald Trump and China's President Xi Jinping next week as investors are desperate for any signs of a thaw in U.S.-China relations even if it shifts expectations for much awaited Federal Reserve interest rate cuts. | | | | | |
