Category: Latest News
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Alaska Air Acquires Hawaiian Holdings, Spotify Cuts 1,500 Jobs, Uber’s S&P 500 Entry, and More
U.S. index futures are down in Monday’s pre-market trading, reversing some of last week’s gains. This comes amidst growing bets that the Federal Reserve will keep interest rates unchanged at the upcoming monetary policy meeting and initiate a decline next year. Despite efforts by Fed Chairman Jerome Powell to discourage expectations of rate cuts, stating…
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US Futures Slip, European Stocks Mixed
U.S. futures for the S&P 500 were down 0.3% and futures for the Dow Jones Industrial Average declined 0.2%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 dropped 0.1% in morning trading. alstria office REIT rose 7.9% and Rolls-Royce Holdings added 3.6%. On the other…
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Top Company News of the Day: Origin Energy, Roche, Spotify, Evergrande
Brookfield-Led Consortium’s $11 Billion Bid for Origin Energy Fails An $11 billion bid for Origin Energy, one of Australia’s largest power companies, was rejected by its shareholders on Monday in a stark illustration of how investors are adopting different strategies to bet on the energy transition. Roche to Buy Carmot Therapeutics for $2.7 Billion Roche…
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U.S. Stocks Move Mostly Higher, Dow, S&P 500 Reach Best Closing Levels Since Early 2022
Stocks moved mostly higher over the course of the trading session on Friday, with the major averages all climbing firmly into positive territory after showing a lack of direction early in the session. The Dow and the S&P 500 reached their best closing levels since early 2022, while the tech-heavy Nasdaq ended the day at…
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Manufacturing Activity and Construction Spending Reports Due Out Today
The Institute for Supply Management is scheduled to release its report on manufacturing activity in the month of November at 10 am ET. The ISM’s manufacturing PMI is expected to inch up to 47.6 in November from 46.7 in October, although a reading below 50 would still indicate a contraction. Also at 10 am ET,…
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Futures Pointing To Modestly Lower Open On Wall Street
The major U.S. index futures are currently pointing to a modestly lower open on Friday, with stocks likely to give back ground after the Dow jumped to its highest closing level in well over a year on Thursday. Traders may look to cash in on yesterday’s gains, which also saw the S&P 500 reach its…
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Alibaba, Dell, Elastic, Tesla and more stocks to watch
U.S.-listed shares of Alibaba were down 1.3% after the company was downgraded to Equal Weight from Overweight by Morgan Stanley and the price target was reduced to $90 from $110. Dell Technologies reported adjusted third-quarter earnings that beat forecasts but lower-than-expected revenue on weak demand. Shares fell 4.1%. Elastic rose 20% after the company reported…
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Copper Prices Up Due To Supply Concerns
Copper prices are set to end the week higher on supply concerns, while a weaker dollar is also providing support for gold. Copper’s strength has come from supply concerns, with the Panama government looking to shut First Quantum’s copper mine in the country while strikes are affecting production in Peru, according to ANZ. “The decision…
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Oil Edges Lower Following OPEC+ Decision
Oil prices edged lower in the wake of OPEC+’s decision to deepen production cuts and ING said the market reaction indicates concerns that the announced cuts were voluntary, suggesting it’s becoming increasingly difficult for member states to agree on group-wide action. New additional cuts of around 900,000 barrels a day are expected in the first…
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Dollar Tends To Weaken At Year End Says MUFG
The dollar, which has already fallen substantially in November, has a historic tendency to weaken into the year-end, which could be a positive signal for EUR/USD, MUFG said. “There is a seasonal bias that is quite compelling for EUR/USD in December.” In 14 Decembers in the last 20 years EUR/USD gained an average of an…