World Trade Organization (WTO) members met in Geneva on Friday trying to finalize a deal to cut tariffs on $1 trillion of information technology products from video games to medical equipment. The United States said a deal had been struck, but WTO Director General Roberto Azevedo postponed a press conference at which he and the talks' chairman, European Union Ambassador Angelos Pangratis, had been due to announce the agreement.
“The committee judges that it can be patient in beginning to normalize the stance of monetary policy,” the Federal Open Market Committee said today in a statement in Washington, removing a calendar-based phrase with language that gives it more flexibility
Emerging-market stocks rose, extending the biggest quarterly advance since September 2012, while shares in Europe and the U.S. were little changed. Oil fell as continuing violence in Iraq failed to disrupt supply.