Federal Reserve officials nudged their expected path of interest rate increases higher on Wednesday, but did little to change the outlook for a long slow climb back up to normal monetary policy. The so-called “dots” matrix from the Fed rate setters showed their median view of the appropriate federal funds rate by end-2015 at 1.375 percent versus 1.125 percent in their last projections in June. By the end of 2017, Fed officials see their target rate back at what they consider a neutral level of around 3.75 percent. Interest rate futures contract prices reflecting market views, by contrast, have been projecting rates of below 1.0 percent for the end of 2015 and around 2.0 percent at the end of 2016.

Yahoo! Inc. (YHOO) may rise 65 percent by the end of the year after Chinese e-commerce giant Alibaba Group Holding Ltd. goes public later this week, according to bets by structured-products buyers. Investors are piling into call warrant and knock-out certificates that pay a return if Yahoo’s share price climbs above a pre-defined level. Some are betting Yahoo will increase to as much as $70 by Dec. 29, according to data compiled by Bloomberg. “At the moment, Yahoo is one of the most common U.S.-based underlyings trading in Germany,” said Heiko Geiger, the Frankfurt-based head of public distribution of structured products for Germany and Austria at Bank Vontobel Europe AG.

"It’s weird — like really weird," says MTV of the pop star’s outer space adventure. "Hilarious mess" is how The Wire sums it up. Indeed, the over-the-top inter-galactic adventure is something to behold. Music video by Ariana Grande performing Break Free. (C) 2014 Republic Records, a division of UMG Recordings, Inc.