Despite a largely optimistic outlook, she did express caution regarding the recovery of both the housing and labour markets. Describing employment figures as “far from” the Fed-determined maximum, Yellen did not shy away from reality. The benchmark indices responded with a surge in early morning trading before retreating to close out relatively unchanged for the day. Elsewhere, Keurig Green Mountain Inc. reported on Thursday that total sales for this period have amassed $1.1 billion in cash on hand, up 10% on 2013. Brian Kelley, CEO and president of Keurig, confirmed in a conference call to analysts that he is “very pleased” with the firm’s second quarter performance. Coca-Cola Company recently acquired a 10% stake in the business (Coca-Cola..), a move that will no doubt have excited investors. Keurig shares gained almost 13% in Thursday trading amidst the wave of optimism. Lawmakers at a congressional hearing on Thursday expressed concern regarding the proposed $45 billion merger of Comcast Corp. and Time Warner Cable Inc. (Comcast seek..). Both Democrats and Republicans moved to raise questions surrounding the potential abuse of market power. However, Comcast Executive Vice President David Cohen staunchly rejected the claims, “retorting that consumers are going to be the big winners in this transaction”. The setback saw both Comcast and Time Warner Cable shed almost 1.5% each. Inter Trader represents the perfect outlet to avail of an excellent spread betting opportunity. Enjoy tight fixed spreads and receive a joining bonus of up to £5,000.
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Topical Thursday: Yellen, Keurig, Comcast/TW merger
Federal Reserve Chair Janet Yellen has issued the clearest indication yet that the central bank may continue to stimulate the US economy. Speaking before the Senate Budget Committee on Thursday morning, Yellen’s prepared remarks reiterated comments she made a day previous to the congressional Joint Economic Committee. Yellen’s Fed is adopting a wait-and-see approach to reducing its economic stimulus, having previously reassessed Ben Bernanke’s milestone of a 6.5% unemployment rate (Fed policy..). Yellen noted that the Fed will continue to ease its stimulants "As long as we continue to see improvement in the labour market”. Yellen also pointed to the improving state of the US economy in her address, claiming it’s “on track for solid growth this quarter”.
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