Author: iHub News
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US Futures Flat, European Stocks Decline as Data Eyed
U.S. futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average were flat. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 declined 0.2% in morning trading. Viaplay Group Series B rose 9.1% and THG added 2.3%. On the other hand,…
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Top Company News of the Day: Meta, Alibaba, AbbVie, Cerevel Therapeutics, BHP
Meta Starts Fully Encrypting Messages on Facebook and Messenger App Social-media giant is moving ahead with a privacy measure that government officials and others have warned could hide illegal activity by child predators and other criminals. Once Unstoppable, Alibaba Is Now Faltering Alibaba was a major driver of China’s growing consumer economy. Now it has…
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U.S. Stocks Fail To Hold Early Gains, Close On Weak Note
After a positive start, stocks gave up their gains and moved along the flat line till around mid afternoon on Wednesday before drifting lower to end the day’s session on a weak note. The major averages all ended modestly lower. The Dow, which advanced to 36,292.58 in early trades, settled at 36,054.43, losing 70.13 points…
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Private Sector Employment Up Less Than Expected
Private sector employment in the U.S. increased by less than expected in the month of November, payroll processor ADP revealed in a report released on Wednesday. ADP said private sector employment rose by 103,000 jobs in November after climbing by a downwardly revised 106,000 jobs in October. Economists had expected private sector employment to advance…
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Private Sector Jobs Data May Contribute To Early Strength On Wall Street
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. Early buying interest may be generated in reaction to a report from payroll processor ADP showing private sector employment in the U.S. increased by…
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Metals Prices Rise
Metal prices were rising, as a weaker dollar helped support commodities backed by the greenback. “The outlook for gold futures in coming months remains largely contingent on the U.S. dollar,” Commonwealth Bank of Australia said. “The dollar has weakened since the beginning of November as markets have looked to price in more Fed Fund rate…
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Oil Up Slightly
Oil prices were slightly higher after closing at their lowest level since July as skepticism around OPEC+ cuts continued to weigh on sentiment. Saudi Arabia cut its official selling prices for its flagship Arab Light crude to Asia and other regions despite extending voluntary output curbs as part of an OPEC+ deal. In an interview…
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Case For Bonds Strong
The case for the fixed income asset is the strongest it has been for years, Invescosaid. The potential peak in interest rates is “offering the opportunity to lock in a higher level of income for the years to come,” it added. Heading into 2024, the market consensus is generally that interest rates have peaked, “which…
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Euro Falls Against Dollar
The euro weakened and looked vulnerable to further falls against the dollar due to increasing expectations of interest-rate cuts by the ECB next year and the U.S.’s growing yield advantage over the eurozone, Helaba Research said. The euro has fallen below its 21-day and 200-day moving averages and is coming very close to support at…
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Stock Futures Rise With More Jobs Data on Tap
Stock futures rose on Wednesday, a day after equities struggled even with more relief from bond yields. There’s more jobs data on tap in the form of the ADP private-sector employment report, though the report is not a reliable predictor of the jobs data produced from the government that is due on Friday. Investors will…