U.S. stocks erased earlier losses, while Treasuries rose for the first time in four days as investors turned cautious before the Federal Reserve meets to debate raising interest rates.
The dollar is poised to fall against most of its major peers this week after the flat U.S. producer prices left traders doubting the Fed will improvement interest rates this month for the first time since 2006.
The Bloomberg Dollar Spot Index fell 0.1 percent on Friday, extending its its slide in the week to 0.7 percent. The euro rose 0.5 percent to $1.1339, up 1.7 percent this week, and the yen was at 120.67 per dollar. The Bank of Japan is also planned to meet next week.
During Friday’s Afternoon trade, Shares of Frontier Communications Corporation (NASDAQ:FTR), lost -6.35% to $5.16.
Frontier Communications (FTR) from the telecommunications sector rose 5.95% on September 3. The stock rose soon after the Federal Communications Commission, or FCC, approved FTR’s proposal to acquire Verizon Communications’s (VZ) operations in California, Texas, and Florida. The company is presently also seeking approval from the California Public Utilities Commission and the Public Utilities Commission of Texas, and has received Hart-Scott-Rodino federal antitrust clearance. Pending commission approval in Texas and California, the company anticipates to close the transaction at the end of the first quarter of 2016.
Frontier will offer California, Florida and Texas customers the companys full portfolio of products and services, counting broadband services, wireline local and long distance phone service, video viewing options, and innovative products and services such as Frontier Secure, an industry-leading digital security offering that provides customers with top-rated online computer and personal identification protection and 24/7 premium technical support in addition to hard drive backup. FiOS customers in these markets will continue to receive the same products and services they have come to enjoy under the FiOS brand name.
Frontier Communications Corporation, a communications company, provides regulated and unregulated voice, data, and video services to residential, business, and wholesale customers in the United States.
Shares of eBay Inc. (NASDAQ:EBAY), declined -0.20% to $26.10, during its current trading session.
The e-commerce giant on Tuesday is set to introduce a speedy shipping membership in Germany it is calling eBay Plus. The 19.90 euro ($22) membership promises free delivery within two days on many items, in addition to free returns within 30 days of a purchase, according to WSJ.
EBay has been testing the program since at least May and, according to Vice President of Shipping Carl Gish, has thousands of sellers signed up already. Mr. Gish said the membership fees assist pay for shipping and returns, which are often covered by customers.
Because it doesn’t keep goods in a warehouse, relying instead on millions of merchants, eBay has long been dogged by shipping woes, counting missed or late deliveries. And it has been playing catchup to rival Amazon.com Inc. and its popular $99-per-year Prime program, which promises unlimited two-day deliveries and other goodies like streaming video and music. WSJ Reports
The new eBay program could assist make the retailer more reliable, in part by requiring sellers to ship goods the same day, if a purchase is made by 2 p.m. In exchange, sellers get a reduction on their listing fees and improved product-listing placement, eBay told WSJ.
eBay Inc. operates as a technology company that enables commerce and payments on behalf of users, merchants, retailers, and brands of various sizes in the United States and internationally. It operates in three segments: Marketplaces, Payments, and Enterprise.
Finally, Shares of Strategic Hotels & Resorts, Inc. (NYSE:BEE), is flat, and is now trading at $14.04.
Strategic Hotels & Resorts Inc. was purchased by Blackstone Group on Monday for $6 billion, following years of turnaround efforts for the luxury hotel REIT. Strategic Hotels & Resorts declared Tuesday that Blackstone Groups Real Estate Partners VIII LP will acquire the company for $14.25 per share in cash and buy outstanding membership units of its partner Planned Hotels Funding LLC for $14.25 per unit in cash. Counting debt, the value of the transaction for the Chicago-based target totals about $6 billion.
Strategic Hotels & Resorts, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It is owner and asset manager of the highest quality portfolio of upper-upscale and luxury hotels and resorts.
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