Author: iHub News
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Top Company News of the Day: EIG, Occidental Petroleum, OpenAI, ABB, Robinhood
EIG Global Energy Partners Expects New LNG Acquisition Within Months The U.S. investment firm wants to increase exposure to the Atlantic Basin gas market. Occidental Petroleum in Talks to Buy Permian Producer CrownRock The deal could value CrownRock well above $10 billion including debt. OpenAI’s New Board Takes Over and Says Microsoft Will Have Observer…
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U.S. Stocks Close Little Changed Ahead Of Key Inflation Data
After ending the previous session modestly higher, stocks showed a lack of direction over the course of the trading day on Wednesday. Despite the choppy trading on the day, the Dow inched up to its best closing level in over three months. The major averages eventually ended the day narrowly mixed. While the Dow crept…
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US Economy Grew Faster says Commerce Department
Revised data released by the Commerce Department on Wednesday showed the U.S. economy grew faster than previously estimated in the third quarter of 2023. The Commerce Department said the jump by real gross domestic product in the third quarter was upwardly revised to 5.2 percent from the previously reported 4.9 percent. Economists had expected the…
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Persistent Interest Rate Optimism May Lead To Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Wednesday, with stocks likely to add to yesterday’s modest gains. Ongoing optimism about the outlook for interest rates may contribute to early strength on Wall Street despite conflicting remarks by Federal Reserve officials. While Fed Governor Christopher Waller said Tuesday he is…
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Crude Futures Weakened
Crude futures weakened slightly as the market awaits OPEC+’s crucial decision to extend or deepen supply cuts. “The outlook for the oil market in 2024 will largely depend on OPEC+ policy,” ING said. DNB Markets said OPEC’s core members could be motivated by geopolitical tensions in the Middle East to take on deeper output cutsbut…
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Forex: Dollar Falls
The dollar was falling as the market reverses a trend of “excessive” optimism towards the currency amid growing evidence that the Fed has likely finished raising interest rates, Commerzbank said. “What we are seeing is typical for the greenback at the end of a Fed rate hike cycle: Excessive dollar optimism on the part of…
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Premarket Movers: Berkshire Hathaway, Crowdstrike Holdings, Fluence Energy, Inuit, GameStop
Berkshire Hathaway’s class B shares were up slightly after Charlie Munger, Warren Buffett’s right-hand man and vice chairman of the investment conglomerate, died at 99 years old. CrowdStrike Holdings third-quarter earnings and revenue beat analysts’ expectations and the cybersecurity company boosted its fiscal-year forecast. CrowdStrike said it expects adjusted profit of $2.95 to $2.96 a…
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US Futures Rise, European Stocks Mostly Up
U.S. futures for the S&P 500 were up 0.2% and futures for the Dow Jones Industrial Average rose 0.2%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 gained 0.2% in morning trading. Orpea added 13.2% and Samhaellsbyggnadsbolaget climbed 6.7%. On the other hand, Kindred Group…
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Top Company News of the Day: Brookfield, Meituan, Taisho Pharmaceutical, Alipay, Apple
China’s Latest EV Stocks Face Uncertain Reception in New York Fast-growing startups Zeekr and Lotus will need to persuade investors they can handle brutal competition at home and geopolitical tensions abroad. Brookfield’s Origin Saga Shows It’s Hard to Price Polluters – Analysis At the heart of a nearly US$11 billion takeover tussle for the owner…
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Optimism About Interest Rates Contributes To Uptick On Wall Street
Stocks fluctuated over the course of the trading session on Tuesday before eventually ending the day modestly higher. With the uptick on the day, the Dow reached its best closing level in well over three months. The major averages finished the day well off their highs of the session but still in positive territory. The…