Wall Street was set to open lower on Friday as jittery investors await a decision on rate hike by the U.S. Federal Reserve next week. However, the S&P 500 was poised for its biggest weekly gain since July despite the recent volatility that has rocked the global financial market.
Despite this morning’s slight disappointment in Eurozone GDP (0.3% q/q vs. 0.4% expected), there hasn’t been too much movement in the foreign exchange markets as traders look ahead to a promising late summer weekend
U.S. President Barack Obama announced what he called an historic climate change agreement with Chinese President Xi Jinping that would cut both countries' greenhouse gas emissions by close to a third during the next two decades.
Just days after announcing his resignation as Commissioner of the CFTC, Scott O'Malia was named CEO of the International Swaps and Derivatives Association (ISDA). Swaps only came under the CFTC's jurisdiction during O'Malia's tenure with the passage of the Dodd-Frank Act.