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MarketWatch MarketPulseSep 17, 2019
Fed announces plans to carry out repo operation for second straight day
The New York Federal Reserve announced it would carry out its second overnight repurchasing operation of the week on Wednesday, after it conducted $53 billion of repos on Tuesday morning. The central bank pledged to carry out up to $75 billion of repos on Wednesday. As part of the repurchasing operations, the central bank temporarily buys Treasurys and other highly rated debt from dealers in order to inject liquidity into the system. The decision comes in the wake of a recent spike in repurchasing rates, a short-term borrowing rate utilized by hedge funds and banks. That has, in turn, pushed the fed funds rate to the top of its target range, raising concerns the U.S. central bank is losing control of its benchmark interest rate.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



RELATED ARTICLES
Market Snapshot: Stock market logs modest gain amid turbulent oil prices and ahead of Fed decision (MarketWatch)

Reuters Company NewsSep 17, 2019
GLOBAL MARKETS-Oil falls as supply worries fade; stocks edge higher
* Saudi Arabia's oil supply fully back online -energy minister

RELATED ARTICLES
US STOCKS-Wall Street rises as oil fears recede, market awaits Fed (Reuters Company News)

MarketWatch MarketPulseSep 17, 2019
Adobe stock falls as earnings beat, but outlook comes in a bit light
Adobe Inc. shares wavered in extended trading Tuesday after the software company reported better quarterly earnings and sales than expected, but offered a forecast that didn't quite live up to expectations. The maker of Photoshop and other professional software reported fiscal third-quarter profit of $792.8 million, or $1.63 a share, on sales of $2.83 billion, up from $2.29 billion a year ago. After adjusting for stock-based compensation and other costs, the company claimed earnings of $2.05 a share, up from $1.73 a share in the year-ago quarter. Analysts on average were expecting adjusted earnings of $1.97 a share on sales of $2.82 billion, according to FactSet. For the fourth quarter, Adobe targets adjusted earnings of $2.25 a share on sales of $2.97 billion. Analysts on average were expecting adjusted earnings of $2.30 a share on sales of $3.02 billion, according to FactSet. Adobe shares jumped 2% immediately after numbers were released, then fell to declines of more than 2% later in the after-hours session. Adobe shares are up more than 25% so far this year, while the S&P 500 index has gained 19.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch Breaking NewsSep 17, 2019
U.S. stocks end modestly higher ahead of Fed's decision on interest rates
U.S. stocks end modestly higher ahead of Fed's decision on interest rates

MarketWatch Breaking NewsSep 17, 2019
FedEx stock falls after company lowers outlook on 'trade tensions'
FedEx stock falls after company lowers outlook on 'trade tensions'

MarketWatch MarketPulseSep 17, 2019
Kraft Heinz's stock falls after 2nd-largest shareholder sells $713 million worth of shares
Shares of Kraft Heinz Co. slumped 4.2% in midday trading, enough to pace decliners among its consumer staples peers group, after the food and beverage company's second-largest shareholder cut its stake by more than 9%. In a Form 4 filing with the Securities and Exchange Commission, Kraft Heinz disclosed that private-equity firm 3G Capital sold 25.1 million Kraft Heinz shares on Monday at a price of $28.44, which values the shares sold at $712.95 million. That left 3G with a 245.03-million-share stake, or 20.1%, of the shares outstanding. 3G's stake is second to Warren Buffett's Berkshire Hathaway Inc.'s 325.6-million-share stake as of June 30, which is 26.7% of the shares outstanding. 3G and Berkshire orchestrated the creation of Kraft Heinz when Kraft Foods Group Inc. and H.J. Heinz Co. agreed in March 2015 to merge. Kraft Heinz's stock has tumbled 34.1% year to date, while the SPDR Consumer Staples Select Sector ETF has rallied 19.7% and the Dow Jones Industrial Average has climbed 15.8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Reuters Company NewsSep 17, 2019
GLOBAL MARKETS-Oil down as Saudi output restored; stocks steady as Fed meets
* Wall Street mixed as investors await interest rate cut (Updates to U.S. afternoon, adds oil settlement details)

The Motley FoolSep 17, 2019
The Market Teases All-Time Highs, But Here Are 2 Stocks You Can Buy Cheap
Consider taking advantage of price weakness in a prominent web tools specialist, and in a healthcare REIT.
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