Author: iHub News
-
Oil Inventories Report Due
The Energy Information Administration is scheduled to release its report on oil inventories in the week ended January 19th at 10:30 am ET. Crude oil inventories are expected to decrease by 3.0 million barrels after falling by 2.5 million barrels in the previous week. At 1 pm ET, the Treasury Department is due to announce…
-
Upbeat Netflix Results May Add To Optimism About Tech Earnings
The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to move to the upside following the lackluster performance seen in the previous session. Technology stocks may help lead an early advance on Wall Street, as reflected by the 0.9 percent jump by the Nasdaq 100 futures. The…
-
Copper, Aluminum Up
Copper prices rose almost 1.5% on supply concerns and hopes for a new stimulus package in top consumer, China. “The copper market this year is set to be in its tightest state since 2021,” Goldman Sachs said. “The market has suffered a supply shock over the past quarter from a series of mine supply downgrades,…
-
Oil Edges Up
Oil prices edged higher as traders navigated between risks to supply due to geopolitical tensions and rebounding crude output in the U.S. along with the restart of production at a major Libyan oil field. Growing geopolitical tensions across the Middle East continue to support the market, but the upward trend looks limited as oil production…
-
Dollar Drops
The dollar has already dropped during Asian trade and has scope to fall back further as its jump higher late on Tuesday was “quite surprising” and lacked a clear catalyst, ING said. “The rise in U.S. rates did not look large enough to justify the rotation from European FX (EUR and GBP) back into the…
-
US Futures Up, European Stocks Mixed Ahead of Company Earnings and Economic Data
U.S. futures for the S&P 500 were up 0.4% and futures for the Dow Jones Industrial Average increased 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.8% in morning trading. Siemens Energy rose 10.8% and SAP added 7.6%. On the other hand, Alstom…
-
Top Company News of the Day: SAP, Rio Tinto, EBay, Country Garden
SAP Launches AI-Focused Restructuring SAP said it would undertake a roughly EUR2 billion restructuring this year that will affect 8,000 jobs as it ratchets up its focus on business-related AI. Rio Tinto Inks Power Deal With European Energy for Giant Australia Solar Farm Rio Tinto said it has agreed to buy electricity from the planned…
-
S&P 500 Reaches New Record Closing High But Dow Gives Back Ground
Stocks turned in a relatively lackluster performance during trading on Tuesday, with the major averages bouncing back and forth across the unchanged after ending Monday’s trading modestly higher. Despite the choppy trading, the S&P 500 reached a new record closing high. The major averages eventually ended the session narrowly mixed. While the Dow dipped 96.36…
-
Mixed Earnings News May Lead To Choppy Trading On Wall Street
The major U.S. index futures are currently pointing to a roughly flat open on Tuesday, with stocks likely to show a lack of direction after ending the previous session modestly higher. A mixed reaction to earnings news from several big-name companies may contribute to choppy trading on Wall Street as traders digest the market’s recent…
-
Base Metals Up, Gold Edged Higher, Battery Metals Glut
Base metals prices rose on improved sentiment following the Bloomberg report that Chinese authorities are considering a package of measures to stabilize the stock market. Top metals consumer China “will remain key in driving the general trend of the whole complex, most likely resulting in rangebound moves,” Sucden Financial said. Meanwhile, gold edged higher as…