Sunday, August 30, 2015

Wall St. Logs Biggest Two-Day Gain Since Financial Crisis

By Noel Randewich

(Reuters) — Wall Street rallied more than 2 percent on Thursday as strong U.S. economic data and hints that a September interest-rate hike was unlikely fueled optimism that the worst of recent market turmoil was over.

The Dow Jones industrial average scored its biggest two-day percentage gain since 2008, while the S&P 500 and Nasdaq Composite racked up their biggest two-day increases since 2009.

“The worst is probably behind us but it’s going to take a while before we get back to normal and we might still see some downward risk,” said Scott Brown, chief economist at Raymond James in St.…

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U.S. Second-Quarter GDP Growth Revised Sharply Higher To 3.7 Percent

By Lucia Mutikani

WASHINGTON (Reuters) — The U.S. economy grew faster than initially thought in the second quarter on solid domestic demand, showing fairly strong momentum that could still allow the Federal Reserve to hike interest rates this year.

Gross domestic product expanded at a 3.7 percent annual pace instead of the 2.3 percent rate reported last month, the Commerce Department said on Thursday in its second GDP estimate.

The GDP report, which was released in the wake of a global stock market sell-off, should assure investors and cautious Fed officials that the United States was in good shape to weather the growing strains in the world economy.…

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Why Children’s Programming Is The New Front Line In The Streaming Battle

By Yvonne Villarreal, Los Angeles Times (TNS)

Children’s programming might have just become the new front line in the subscription battle between Netflix, Amazon.com and other major streaming services to boost subscriber numbers.

The services have gotten the most publicity from critically acclaimed original content aimed at adults such as “Orange Is the New Black” and “Transparent.” Their strategy aimed at attracting younger viewers, though, is now getting more awareness.

The newfound attention is largely the result of HBO’s recent announcement that it has struck a deal to be the first-run home of “Sesame Street” on its streaming and cable services.…

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