Author: iHub News
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Metals and Gold Prices Rise
Metal prices were rising, with increasing Chinese earnings helping to boost prices in muted trading. Data from China showed that Chinese industrial profits rose 29.5% from a year earlier in November -a sign that the government’s stimulus efforts are helping the country’s economy. Meanwhile, worries over the wider global economy helped boost gold prices, given…
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Oil Edges Lower
Oil prices edged lower with trading muted through the festive period. Major shipping firms including Maersk and MSC are returning to shipping routes through the Red Sea, despite the ongoing fighting in the Middle East. Prices climbed on Tuesday over worries that exports through the region would be constrained by the hostilities.
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S&P 500 Hovers Near Record as Interest Rate Optimism Holds Sway
Stock futures were little changed on Wednesday, indicating the S&P 500 will open a fraction shy of a fresh record amid lingering optimism that borrowing costs will fall in 2024. “Aside from the customary Santa seasonality, any gains witnessed for the remainder of this week may be attributed to the notable increase in the probability…
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US Futures, European Stocks Mostly Flat
U.S. futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average decreased 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.1% in morning trading. Orpea rose 5.9% and Samhaellsbyggnadsbolaget added 5.5%. On the other hand, Carnival dropped 4.3%,…
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Top Company News of the Day: SoftBank, NIO, Boart Longyear, Apple
SoftBank Shares Hit Over Two-Month High on T-Mobile Stock Gains SoftBank Group’s shares rose on potential investment gains the conglomerate could record as it receives additional shares of T-Mobile US. NIO Shares Jump on Launch of New Flagship EV NIO’s Hong Kong-listed shares rose sharply after the Chinese electric-vehicle maker launched a new model amid…
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U.S. Stocks Move Mostly Higher To Kick Off Final Week Of 2023
Stocks moved mostly higher during trading on Tuesday, with the major averages all moving to the upside after ending last Friday’s session narrowly mixed. The advance on the day represents a positive start to the final trading week of 2023. The major averages pulled back off their best levels going into the close but remained…
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Top Company News of the Day: AstraZeneca, Maersk, Amazon, Ben & Jerry’s
AstraZeneca to Buy Gracell Biotechnologies AstraZeneca has agreed to buy Gracell Biotechnologies for a transaction value of $1.2 billion, as part of the former’s efforts to grow its cell therapies business. Fog at Chicago’s Midway Airport Scuttles Southwest Holiday Flights The airline canceled hundreds of flights Sunday and more than 100 on Monday as it…
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U.S. Stocks Close Narrowly Mixed Ahead Of Christmas Weekend
After an early move to the upside, stocks fluctuated over the course of the trading session on Friday before eventually ending the session narrowly mixed. The Nasdaq and the S&P 500 closed modestly higher, while the narrower Dow edged slightly lower. While the Dow slipped 18.38 points or 0.1 percent to 37,385.97, the Nasdaq rose…
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Supply Constraint Worries Push Metals Prices Up
Metals were higher on concerns over supply constraints and a broadly improved market sentiment. Sucden Financial said seasonal activity is expected to pick up in the new year for copper and support prices above the $8,600 a metric ton level. Meantime, gold made solid gains on a weaker dollar, weighed by the prospect of Fed…
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Stocks To Watch: Nike, Berkshire Hathaway, Rocket Lab, Tesla
Nike reported fiscal second-quarter earnings that beat analysts’ expectations but announced a $2 billion cost-cutting plan over the next three years as it expects sales to soften in the second half of fiscal 2024. Its shares dropped 11%, with shares of Dick’s Sporting Goods and Foot Locker down 4.3% and 6.3%, respectively. Berkshire Hathaway purchased…