Author: iHub News
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Consumer Prices Slightly Up
Consumer prices in the U.S. inched up in line with economist estimates in the month of November, according to a highly anticipated report released by the Labor Department on Tuesday. The Labor Department said its consumer price index crept up by 0.1 percent in November after coming in unchanged in October. The uptick matched expectations.…
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Inflation Data May Contribute To Extended Upward Move On Wall Street
The major U.S. index futures are currently pointing to a modestly higher open on Tuesday, with stocks likely to extend the upward move seen over the past few sessions. The futures edged up slightly following the release of a highly anticipated Labor Department report showing U.S. consumer prices inched up in line with economist estimates…
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Oil Edges Up
Oil prices edged higher after a Norwegian tanker in the Red Sea off the coast of Yemen was struck by a missile fired by Houthi rebels, raising concerns over shipping disruptions in the Middle East. The U.S. Central Command said the tanker was attacked on Monday by an anti-ship cruise missile launched from a Houthi-controlled…
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Bonds Should Outperform Equities Next Year
Jefferies expects 2024 to be the year of fixed income and sees rates and credit outperforming equities. “With the economy slowing and central banks embarking on a rate cutting cycle, we would favour an overweight position in sovereign and credit bonds.” Jefferies said valuation also favors fixed income assets over equities. One big caveat, though,…
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Euro Slightly Up Against Dollar
The euro was mildly stronger against the dollar after the currency pair was fairly range-bound around the 1.0750 mark on Monday, Danske Bank Research said. The range-bound trade was “in anticipation of the release of U.S. CPI later today” as well as Wednesday’s Fed meeting, Danske said. Sterling edged lower after data showed U.K. wage…
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Traders Eye Inflation Data Ahead of Fed Meeting
Stock futures held broadly steady on Tuesday in cautious trading ahead of inflation data that may impact the debate at this week’s Federal Reserve policy meeting. The central bank is widely expected to leave borrowing costs unchanged at a range of 5.25% to 5.50% at the conclusion of its two-day meeting on Wednesday. The European…
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US Futures, European Stocks Rise Ahead of Economic Data Releases
U.S. futures for the S&P 500 were up 0.1% and futures for the Dow Jones Industrial Average climbed 0.1%. Changes in futures don’t necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 gained 0.1% in morning trading. Carl Zeiss Meditec rose 7.8% and Intl Distribution Svcs added 4.5%. The FTSE 100…
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Top Company News of the Day: Google, Star Bulk Carriers, Eagle Bulk Shipping, Berkshire Hathaway
Google Loses Antitrust Case Brought by Epic Games A San Francisco jury said Google “maintained monopoly power by engaging in anticompetitive conduct.” Star Bulk Carriers, Eagle Bulk Shipping Agree to $2.1 Billion Merger A combination of the two would create the world’s fourth-biggest commodities carrier. Berkshire Hathaway Nearly Halves HP Stake to 5.2% Warren Buffett’s…
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U.S. Stocks Finish Light Trading Day Moderately Higher
Stocks turned in a relatively lackluster performance during trading on Monday but managed to end the day moderately higher. With the upward move, the major averages once again finished the session at their best closing level in well over two years. The major averages closed just off their highs of the session. The Dow climbed…
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Treasury Department Auction Results Due
The Treasury Department is scheduled to announce the results of this month’s auction of $50 billion worth of three-year notes at 11:30 am ET. At 1 pm ET, the Treasury Department is due to announce the results of this month’s auction of $37 billion worth of ten-year notes.