Business News

Three straight weeks of Gains

Markets will open today at their highest levels in nearly two months, while turning in a third straight week of gains. (CNBC)

Iron ore jumped the most ever after Chinese policy makers signaled their desire to spur economic growth.
Ore jumped 19% to $63.74 a dry metric ton. (Bloomberg)

We should brace themselves for higher U.S. interest rates. The National Association for Business Economics survey shows economists expect the Federal Reserve to continue hiking rates this year. 39% expect the Fed to raise rates twice in 2016 and 24% believe they will only hike once. 65% of economists expect inflation at the Fed's 2% inflation target.

Fresh from their takeover of Lolliard, Reynolds American may be a takeover target itself by British American Tobacco.  British American Tobacco already owns a stake in Reynolds American. (Sunday Telegraph)

Oil is up 50 cents at $36.36 a barrel. Last week was the best week since August for oil. Depressed crude has surged more than 30% since its recent low last month. Gasoline prices increased by 7 cents over the past two weeks to $1.84 per gallon. (CNBC)

Gold is up $2 at $1273 a Troy ounce.

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