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TOKYO (AP) — Global stocks are posting broad gains today after the Federal Reserve ended a long period of uncertainty by raising interest rates for the first time in nearly a decade and signaling that further increases will be gradual. Benchmark indexes in France and Germany have jumped close to 2.5 percent this morning while Britain's FTSE 100 is up 1.5 percent. Asian markets closed with solid gains, and the dollar gained against Asian currencies. Futures suggest a higher opening on Wall Street.
WASHINGTON (AP) — Federal Reserve policymakers have lowered their projections for short-term interest rates over the next three years, a sign that policymakers may move slowly after their first rate increase in seven years. More Fed policymakers expect the short-term rate will be 1.38 percent or below at the end of 2016 than in previous projections in September. They forecast the rate will be 2.38 percent at the end of 2017, a quarter-point lower than three months ago. However, the Fed's forecasts for the U.S. economy and interest rates have proven too optimistic in recent years.
WASHINGTON (AP) — Trade data and leading indicators highlight today's economic reports. The Commerce Department releases the current account trade deficit for the third quarter this morning. Exports have struggled in recent months amid a rising dollar and weaker economic growth overseas. But the current account tracks investment flows as well as trade in goods and services. Also this morning, the Conference Board releases its index of indicators for November, while the weekly jobless claims and mortgage rate reports are expected from the Labor Department and Freddie Mac, respectively.
HONG KONG (AP) — China's biggest airline says it's buying 110 jets from Boeing. The deal is worth about $10 billion. The order comes two months after Boeing signed a deal with a Chinese state-owned company to build its first final assembly plant in China, for 737 aircraft.
BERLIN (AP) — Volkswagen says it's making structural changes that will help it speed up its internal decision-making processes. The German automaker says the number of top managers reporting directly to the CEO will be almost halved. The moves come as the company grapples with the fallout of an emissions-cheating scandal, whose origins it says have been linked to a small group of company engineers.
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