US FEDERAL RESERVE INCREASES INTEREST RATE !!!!!!!!!!!!

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By: Economic & Finance Report

The Federal Reserve has raised important interest rates because the US economy has increased drastically. This is the second time the FED has raised interest rate benchmarks since 2008.  The Fed indicated that next year in 2017, the interest rate will raise again also.

The benchmark had been 0.50%, now with the recent increase the benchmark will be 0.75%. When it comes to low rates, it helps the economy because it provides an environment for growth economically . This in turns allows businesses to borrow to finance deals, products, services, expansion, and leads toward enabling their businesses to take risk in growing their enterprises.

The interest rate being raised was on par to what many analysts and economists predicted, the economy improving as it is these days made sense for the interest rate to increase according to many experts. -SB

THE NAIRA DROPS INSTANTLY AFTER BEING DEVALUED……………

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By: Economic & Finance Report

The Naira devalued over 30% instantly on Monday, June 20, 2016.  It dropped 260 to 1 USD. The Central Bank of Nigeria last week insisted that it would remove restrictions on the Naira and allow it to “float freely” against the dollar.  The move was applauded by traders, analyst, the IMF (International Monetary Fund), whom all have indicated for over a year to allow the Naira to drop because of depleting oil prices.

On Monday, the dollar went skyrocketing against the Naira, some indicated they expected a drop, but not a 30% drop perhaps.  Many analysts including credit rating agency Moody’s; believe devaluing the Naira is a step forward in helping to stabilize Nigeria’s economy; which took a major hit the past few years because of declining oil prices. -SB

U.S. JOB CLAIMS CONTINUE TO FALL… 42 YEAR LOW THUS FAR………

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By: Economic & Finance Report

The jobless claims reports coming in around 255k-256k has sparked analyst reactions that obviously they did not foresee. Jobless claims continue to fall, as stronger working economy continues to rise. These indications point to a strengthing job market. 

Jobless claims hit a 42 year low last week and improvements seem to be scalable as we approach the holiday season, starting next month. As the job market improves so do the economy and common trend that consistently is proactive amongst each other.  The fewer claims that are presented the better the global markets and economy are strengthened, helping everyday working people.

AT&T BEAT EXPECTATIONS & SHARES RISE BECAUSE OF RESULTS!!!!!!

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By:  Economic & Finance Report

AT&T beat analysts expectations Wednesday, when their reported company earnings came out, beating analysts expectations of $.62 cents a share. Revenue from the company came in at $32.57 billion. It seems that the first quarter for AT&T was a productive year for the telecom giant, and its subsidiaries.

AT&T is the #2  wireless carrier and they are gearing up for their acquisition in DirecTv. The acquisition is supposed to be completed by the second quarter of 2015, if all goes well by federal regulators and federal proceedings. AT&T has already acquired NII Holdings in January 2015,  parent company of Nextel Mexico for a reported $1.88 billion dollars. The deal is to give AT&T an extra three million subscribers in Mexico terrain. -SB