BEFORE THE BELL: US Feds expected to hike interest rate; $85 billion AT&T and Time Warner deal given thumbs up in US
The US Federal Reserve is in focus for most investors today. Policymakers are expected to announce an interest rate hike to 2 per cent as the US economy continues to grow. Analysts are predicting the Feds to announce a second rate hike coming before the end of the year as well.
The price of crude is slipping on a US inventories report showing a growing build up of product. US oil is dropping to $66 a barrel.
An $85 billion merger between mega companies AT&T and Time Warner has been approved by a judge in the US despite a challenge from Trump. AT&T stock is down 2 per cent following the news and Time Warner is up 4 per cent. Experts say the deal is likely to push NBC owner Comcast to pursue its own potential $60 billion all cash offer to take over Fox. Comcast would be looking to edge out Disney’s bid for the company worth $52 billion in stock and cash.