Brazil’s central bank has room to cut interest rates further because inflation is below the government’s target. “The central bank has cut rates a lot, we are at a very reasonable level,” Mantega said late yesterday in Sao Paulo. “In the next years, in the medium term, and I don’t want to interfere in the monetary policy, there’s room...

Oncoming  two straight losing sessions, Wall Street looked primed for a rebound Tuesday. The major averages opened with modest gains . Target shares were up 5.5 percent, thanks to the discount chain’s 79 cents in earnings per share. Improving gross margins from the 1st quarter boosted the company’s numbers. A pair of economic reports p...

U.S. stocks were on the mend Tuesday after a drench sell-off Monday erased August gains for major equity indexes. A pair of better than expected earnings reports from national retail chains sparked the modest advance, and investors brushed off a hiccup in the latest reading on residential construction. The day’s competition began abroad, wher...