The Traderszone Network

Asian shares touched a six-and-half-year peak on Wednesday and the dollar was steady, with investors waiting for second quarter U.S. growth data as well as a U.S. Federal Reserve meeting that some believe might yield a more hawkish policy outlook. The Fed will not be updating its economic forecasts and Chair Janet Yellen will not hold a news conference following the two-day policy meeting, leaving investors’ focus squarely on a statement scheduled to be released at 2 p.m. (18:00 GMT).

Argentina faced a race against on time on Wednesday to avert its second default in 12 years, needing to either cut a deal by the end of the day with “holdout” investors suing it or win more time from a U.S. court to reach a settlement. Argentine Economy Minister Axel Kicillof scrambled to New York on Tuesday to join last-ditch negotiations, holding the first face-to-face talks with the principals of New York hedge funds who demand full repayment on bonds they bought at a discounted rate after the country defaulted in 2002.

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Dollar holds its ground as markets await the outcome of a Fed meeting and preliminary growth data, but dollar holds its ground.
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Kidnapping Europeans for ransom has become a global business for Al Qaeda, bankrolling its operations across the globe. The NYT reports.

Twitter’s stock jumped nearly 30 percent after growth in its user base soothed concerns about its future, but some analysts remain skeptical.

The Chinese anti-trust investigation against Microsoft spurs a jump in shares of domestic software developers , as officials confirm they are looking into “suspected monopolistic behavior.”
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GM was hit with a lawsuit brought on behalf of more than 650 people allegedly injured or killed in accidents involving cars that have been recalled.