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PostPosted: Tue Mar 13, 2018 2:54 am    Post subject: said they also want to review Reply with quote

NEW YORK Adidas Superstar 2.0 Pas Cher , Aug. 12 (Xinhua) -- U.S. stocks reversed early big losses to close mixed Wednesday, as investors continued to assess impacts of the Chinese central bank's decision to improve its foreign exchange rate formation system.

The Dow Jones Industrial Average edged down 0.33 point, or less than 0.01 percent, to 17,402.51. The S&P 500 added 1.98 points, or 0.10 percent Adidas Superstar Fleuri Pas Cher , to 2,086.05. The Nasdaq Composite Index gained 7.60 points, or 0.15 percent, to 5,044.39.

Chinese yuan extended its decline on Wednesday but is unlikely to depreciate significantly as the central bank and stable fundamentals will not allow the currency to go into freefall.

The spot rate fell about three percent to its lowest level since October 2012 when the central bank reformed the exchange rate formation system on Tuesday. The central parity rate fell 1.6 percent, to 6.3306 against the U.S. dollar on Wednesday.

In a latest statement released on Wednesday , the central bank said there was no reason for the yuan to depreciate further.

The IMF described the Chinese central bank's move as "a welcome step" in a statement, saying a more market-oriented exchange rate would facilitate the operation of the special drawing rights (SDR) if the RMB was included in the basket.

In corporate news, shares of Alibaba plunged 5.12 percent to 73. 38 dollars apiece Wednesday after the China's e-commerce giant posted the slowest growth in more than three years.

Alibaba's revenue for the quarter ending June 30, 2015 was 3. 265 billion U.S. dollars, an increase of 28 percent compared with the same quarter of 2014.

Macy's Inc. slumped 5.06 percent to 64.11 dollars per share after posting weaker-than-expected quarterly results. It also cut its full-year outlook.

The retailer's earnings were 64 cents per diluted share for the second quarter of 2015, compared with earnings of 80 cents per diluted share in second quarter 2014.

On U.S. economic front Adidas Superstar Pas Cher Solde , the number of job openings was little changed at 5.2 million on the last business day of June, the Labor Department reported Wednesday.

The CBOE Volatility Index, often referred to as Wall Street's fear gauge, slightly decreased 0.73 percent to end at 13.61 on Wednesday.

In other markets, the U.S. dollar dropped against other major currencies as doubts over whether the Federal Reserve would raise interest rate in September increased following the sharp decline of Chinese yuan.

In late New York trading, the euro rose to 1.1162 dollars from 1.1035 dollars in the previous session Adidas Superstar Pas Cher , while the dollar bought 124.22 Japanese yen, lower than 125.15 yen of the previous session.

Oil prices bounced as traders bought the dip after prior day's sharp decline.

The West Texas Intermediate for September delivery moved up 22 cents to settle at 43.3 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery increased 48 cents to close at 49.66 dollars a barrel on the London ICE Future Exchange.

Gold futures on the COMEX division of the New York Mercantile Exchange rose on a weaker U.S. dollar.

The most active gold contract for December delivery rose 15.9 dollars, or 1.44 percent, to settle at 1,123.60 dollars per ounce.

U.S. President Barack Obama (L) meets with Philippine's President Benigno Aquino inside Malacanang presidential palace in Manila Pas Cher Chaussures ADIDAS YEEZY BOOST 350 V2 BELUGA 2.0 Grise Orange AH2203 , Philippines, April 28, 2014. REUTERSFrancis R. MalasigPool

A U.S.-Philippine defense agreement that was meant to counter China's naval power in the South China Sea has yet to be implemented more than a year after it was signed, and could now face a fresh political hurdle in Manila.

The deal gives U.S. troops wide access to local military bases and approval to build facilities to store fuel and equipment for maritime security, but it was effectively frozen after left-wing politicians and other opponents challenged its constitutionality in the Philippine Supreme Court last year.

The court is expected to issue a ruling before U.S. President Barack Obama visits Manila for an Asia-Pacific summit in November. The deal, called an Enhanced Defence Cooperation Agreement (EDCA) Pas Cher Chaussures Adidas Yeezy Boost 350 V2 Noir Rouge CP9652 , was signed just days before Obama last traveled to Manila in April 2014.

In another complication, 13 senators in the 24-member Philippine Senate have signed a draft resolution insisting the upper house scrutinize the deal before it takes effect.

"In this resolution, we are saying we will not allow the power of the Senate to be eroded," Senator Miriam Santiago, the principal author of the measure, said in a statement last week. The proposed resolution will be lodged in late July Pas Cher Chaussures Adidas Yeezy Boost 350 V2 Supreme Noir Rouge , when the Senate reconvenes after a recess.

While a Senate resolution would not be binding on President Benigno Aquino, it would put pressure on him to allow senators to debate the agreement, which would delay it further, Philippine political experts told Reuters.

With national elections due in May 2016, politicians are already focusing on who will contest the presidency when Aquino steps down, possibly putting some congressional business on the back-burner. The Philippine constitution allows presidents to only serve a single six-year term.

"Aquino is increasingly losing his power to influence Congress Pas Cher Chaussures Adidas Yeezy Boost 350 V2 Noir Verte ," said political expert Ramon Casiple.

Senators have said they also want to review an agreement to be negotiated with Tokyo that would allow Japanese military aircraft and naval vessels to use bases in the Philippines for refueling and picking up supplies.

The Senate has ratified previous Philippine defense agreements, including a decades-old security treaty with the United States.

Aquino has said the EDCA only needs executive approval because it's an addition to existing security arrangements.


To be sure, U.S.-Philippine military ties are already robust.

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