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U.S. stocks and Treasuries slid while the dollar rallied as Federal Reserve Chairman said the central bank may reduce the pace of bond purchases later this year as economic risks subside. More>> Interest rates on U.S. home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday. More>> Adobe was up 5.6% to close at $45.78 a day after the business software maker posted solid results that showed it was on the right track in its shift to a subscription-based business model. More>>
Nikkei soared to a one-week high on Wednesday, underpinned by continued weakness in the yen and investor optimism that the U.S Fed will temper fears about paring back its stimulus program. More>> Activity in China's manufacturing sector may have decelerated further in June, the flash estimate of the HSBC PMI is expected to show, exacerbating worries about a downturn in Chinese economy. More>> Australia has been clouded with negative forecasts lately, some even warning of a dip back into recession, but a recent report argues the economy is set for a rapid acceleration in the coming months. More>>
OIL (WTI 97.78 $/bbl; -0.95% / Brent 105.80 $/bbl; -0.30%) and GOLD (1345.55 $/oz t; -1.68%): Oil and gold fell after Federal Reserve Chairman Ben S. Bernanke said the central bank may start reducing bond purchases later this year and end them in the middle of 2014. More on Oil>> More on Gold>> NATURAL GAS (3.950 $/MMBtu; +0.95%): A natural gas rally extended into a third day on Wednesday after weather forecasting models continued to point to above-normal temperatures settling in for a good portion of the U.S. over the next two weeks. More>>
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