Yellen’s Nomination as Fed Chair Lifts U.S. Stocks

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Yellen’s Nomination as Fed Chair Lifts U.S. Stocks (Bloomberg)

The S&P 500 finished up by 0.1% today, after two straight down days. The rebound followed President Obama’s nomination of Janet Yellen today to become Fed chair. He also offered talks with Republicans if they avert the debt-limit crisis. Economists and global economic leaders agree a U.S. debt default would be devastating for U.S. and global economies. “Today’s reaction is favorable based on Yellen’s nomination, and secondly there seems to be some thawing of the rhetoric which sets the stage for a resolution that could come before the deadline,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.

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The Philippines is among the group of populous, newly industrialized Asian nations known as the “tiger cubs” that may follow in the path of the Asian tigers: Hong Kong, Singapore, South Korea and Taiwan. Emerging markets, such as the tiger cubs, generally have seen a pullback this year, with continued uncertainty in Europe and political instability from the United States. But the Philippines has notched four quarters of growth above 7%, starting in the third quarter of 2012, and is projected

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