Europe Finishes Sharply Lower After Tillerson Ousting Rattles Markets

The pan-European STOXX 600 extended losses, provisionally closing down some 1.07 percent, with almost all sectors ending the day in negative territory.

In markets, all major bourses posted solid losses, with the U.K.’s FTSE 100 slipping 1.05 percent, France’s CAC 40 falling 0.64 percent and Germany’s DAX dropping 1.59 percent.

Source: CNBC

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Tillerson out as secretary of state as Trump taps CIA chief Pompeo

Rex Tillerson is out as secretary of state after a series of disagreements with President Donald Trump, ending a rocky tenure as the chief U.S. diplomat.

Trump said he’s nominating CIA director Mike Pompeo to run the State Department, hailing his experience in the military and Congress. “I urge his swift confirmation,” Trump said in a statement.

Speaking to reporters at the White House, Trump said he got along well with Tillerson, but “we disagreed on things,” like the Iran nuclear deal.

Donald J. Trump


Mike Pompeo, Director of the CIA, will become our new Secretary of State. He will do a fantastic job! Thank you to Rex Tillerson for his service! Gina Haspel will become the new Director of the CIA, and the first woman so chosen. Congratulations to all!

Source: Marketwatch

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Stocks climb after inflation report, shake off news of Tillerson departure

U.S. stock indexes rallied on Tuesday as investors welcomed benign inflation data and digested news that President Trump nominated Central Intelligence Agency Director Mike Pompeo to replace Secretary of State Rex Tillerson.

Meanwhile, closely watched consumer-inflation data was in line with expectations, helping to placate worries rising prices would hasten interest-rate hikes by the Federal Reserve.

The S&P 500 index was up 17 points, or 0.6%, to 2,799 with all 11 main sectors trading higher, led by the materials and health-care sectors.

The Dow Jones Industrial Average gained 181 points, or 0.7% to 25,360, supported by a rise in shares of component Caterpillar Inc. up 2%.

The Nasdaq Composite Index was up 33 points, or 0.4%, to 7,621, trading in record territory. The index hit a fresh all-time intraday high at 7,637.27.

The consumer-price index rose a mild 0.2% in February after a worrisome 0.5% increase in the first month of the year. The cost of housing rose and the price of clothes and auto insurance posted surprisingly large gains for the second month in a row.

Source: Marketwatch

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