The Traderszone Network

Treasurys swing higher ahead of a Fed conference in Jackson Hole, as investors anticipate a dovish address from Janet Yellen.
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More people will get away this Labor Day weekend than have in the past six years, reports USA Today.

Fed interest rate hikes may not be as far off as investors believe, Kansas City Fed President Esther George told CNBC.

The price of Brent crude hit a 14-month low on Thursday, but market analysts now believe that oil could find a floor and expect prices to stabilize.

The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week, pointing to a sustained improvement in labor market conditions. Initial claims for state unemployment benefits declined 14,000 to a seasonally adjusted 298,000 for the week ended Aug. 16, the Labor Department said on Thursday. A Labor Department analyst said there were no special factors influencing the state level data. The four-week average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 4,750 to 300,750.

Shake Shack, the fast-food restaurant chain that has developed a cult following for its ‘Shackburgers’, ‘flat-top’ hot dogs and eponymous shakes, has selected JPMorgan Chase & Co (JPM.N) and Morgan Stanley (MS.N) to lead a proposed initial public offering, according to people familiar with the matter. The potential offering, which could come as soon as this year according to the people, would be the biggest public event for a company that started out of a hot dog kiosk in New York’s Madison Square Park in 2004.

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Bank of America agreed to pay $16.65 billion to end investigations into mortgage securities that it sold in the run-up to the financial crisis.