The Federal Reserve Building stands in Washington.ReutersAsian shares fell for a second day on Thursday, tracking weakness on Wall Street after the minutes from the Federal Reserve’s latest meeting revealed a more hawkish view among policy makers.Fed officials agreed that “the strengthening in the near-term economic outlook increased the likelihood that a gradual upward trajectory of the federal funds rate would be appropriate.”Stocks reversed gains and bond yields rose as investors narrowed odds on faster hikes. Three rate rises are now almost fully priced in for this year, compared to two as recently as December, Reuters reported.MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.35 percent in early trade, while E-Mini futures for the S&P 500 lost 0.2 percent.Overnight, the Dow ended down 0.67 percent, while the S&P 500 fell 0.55 percent.Back home, SGX Nifty, an early indicator of the Nifty 50’s trend in India, signals a weak start for the domestic markets after the benchmark Sensex rose 141 points or 0.42 percent to close at 33,844 on Wednesday.The partially convertible rupee ended unchanged at 64.78 per dollar on Wednesday from its previous close of 64.79 per dollar.So far this year, the rupee has fallen 1.4 percent against the U.S. dollar, while overseas investors have bought $1.2 billion in local equity and $1.9 billion in debt markets.F&O Expiry: Trading is likely to be volatile on Thursday as traders will roll over positions in the futures and options segment from the February 2018 series to March 2018 series.Crude check: Brent crude declined 0.73 percent at $64.94 per barrel while the West Texas Intermediate crude lost 0.91 percent to $61.12 a barrel.Fed meeting: Data released after the meeting showed the unemployment rate holding at 4.1 percent in January, while the consumer price index, excluding food and energy, was 1.8 percent for the 12 month period.Fed speeches: A slew of Fed policy makers are due to speak this week including New York Fed President William Dudley and Atlanta Fed President Raphael Bostic.
00:00 /01:22 To embed this piece of audio in your site, please use this code: Listen X – / 15For many years, the old DeLuxe Theatre stood dilapidated in in the middle of Houston’s Fifth Ward. Now it’s meticulously restored as the centerpiece of the historic neighborhood. Under its Art Deco marquee we meet Kathy Flanagan Payton. She was born in the neighborhood and she now heads the Fifth Ward Community Redevelopment Corporation. “We have a bad history of being the toughest, baddest ghetto in Texas,” says Payton. “We’re tough, we’re bad, but in a different kind of way. What you’ll find here is a strong sense of family, a strong sense of community spirit.”The Fifth Ward has been around since the mid-1800’s but it suffered a period of decline after it was split apart by freeway construction in the 1960’s. Today there’s new interest in the neighborhood, and Payton says they’re working to balance development with the needs of longtime residents. She says new money can bring in things they don’t have right now, like a supermarket. “We have to have more rooftops,” explains Flanagan. With rooftops come people. When people come, pockets. The pockets that live here today cannot support these amenities. And so our goal is to find a balance.” Also involved in the neighborhood is Reverend Harvey Clemons Jr. of the Pleasant Hill Baptist Church. He says the Fifth Ward’s renewal isn’t just about buildings.“But the attitude, the level of awareness of the community, the diversity of the community, and just a sense of consciousness about community duty and responsibility,” adds Clemons. Hours for this weekend’s Sunday Streets are noon to 4:00 PM. Lyons Avenue will be closed to vehicular traffic between U.S. 59 and Benson Street. Share
Please visit the GasBuddy website or consider downloading the GasBuddy app. Gasoline prices rose several cents overnight amid continuing fears of shortages in Texas and other states in the aftermath of Hurricane Harvey’s strike on the Gulf Coast. The national average for a gallon of regular gas rose in one day from $2.45 Thursday to $2.52 Friday, the American Automobile Association reported.If you are worried that gas stations in your area are running low, use the tool below to see which stations still have gas. Share