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Wall Street gains as financials rally on Fed rate comments

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A man looks at an electronic board showing market indices outside a brokerage in Tokyo Japan

On Wednesday, Eric Rosengren, Boston Fed President, said, "Fed should consider that quicker interest rate rises over time could stave off risks to the economy". The pan-regional FTSEurofirst 300 rose 0.5 percent as banking and industrial stocks advanced. Stock-trading volume hit its lowest level of the year on Monday and is expected to continue to be fairly thin as investors and traders typically vacation ahead of the U.S. Labor Day holiday.

Although there has been a lot of focus on the negative impact a rate hike could have on precious metals, it's worth remembering that this year's rally came about not long after the Fed upped rates, so a downturn in the gold price isn't necessarily a given.

The US dollar index - which measures the greenback against a basket of other currencies - made some gains on Wednesday, too, following Fischer's comments.

Analysts said attention will now be focused on key U.S. jobs data, due to be released Friday, which, if strong, could help clinch the case for an early rate hike.

Speaking at a meeting of leading central bankers in Jackson Hole, Wyoming, Fed chair Janet Yellen said on Friday that an improvement in the economy and the labour market in recent months had boosted the case for hiking rates.

G-III Apparel Group Ltd.(GIII) shares tumbled nearly 21% as the company, whose brands include Calvin Klein and Tommy Hilfiger, lowered its earnings and sales outlook (http://www.marketwatch.com/story/g-iii-apparel-shares-tumble-as- earnings-miss-company-lowers-outlook-2016-08-30).

New Zealand's two-year swap rate rose 2 basis points to 1.98 percent and 10-year swaps rose 1 basis point to 2.38 percent. The US economy probably added 180,000 jobs this month, down from 255,000 in July and possibly not enough to convince the market that a September hike is on the cards.

Lampard at the double sends City top
The late win moves NY top of the Eastern Conference, sitting one point clear of Toronto, albeit having played one match more. Lloyd Sam put DC United on the scoreboard in the 36th minute, beating netminder Josh Saunders to the left inside netting.

Irish Olympics' officials digital devices seized in Rio
Back at home the Olympic Council of Ireland has put together a "crisis management" team to investigate the Rio ticket scandal. Two officials from the OCI are due to be questioned by police in Rio this week about the alleged illegal sale.

Teddy Bridgewater on Injury: 'My Purpose Will Not Be Denied'
Though that recovery time will be significant. "We're not going to stick our heads in the sand, we're not going to tuck our (tail between) our legs", Zimmer said.

Conference Board data showed U.S. consumer confidence rose to 101.1 in August, beating economists' expectations for a dip to 97.0, according to a Reuters poll. US 30-year Treasury bond yields also fell, with their prices rising more than a full point. Economists had expected a 0.3% rise.

Movers and shakers: Shares of Apple closed down 0.8% after the European Union antitrust regulator's allegation that the company's tax arrangement with Ireland allowed it to pay substantially less tax than other businesses over many years.

United Continental Holdings Inc.(UAL) rose 8.6% as the airline late Monday said it has named Scott Kirby as president (http://www.marketwatch.com/story/united-continental-names-former-american-airlines-exec-president-2016-08-29).

Abercrombie & Fitch Co.(ANF) shares tumbled more than 20% after the retailer posted a decline in quarterly sales and delivered a weaker-than-expected outlook (http://www.marketwatch.com/story/abercrombie-fitch-sales-dip-offers-soft- outlook-2016-08-30-74854513). Mondelez shares added 3.7%.

Platinum was up 0.7 percent at $1,058.90.

In China, bullion of 99.99 percent purity fell 0.3 percent to 282.30 yuan a gram ($1,314.80 an ounce) on the Shanghai Gold Exchange. A stronger buck tends to make commodities priced in the currency more expensive to buyers using other monetary units.

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