Category: Latest News
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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…
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S&P 500 Futures Steady as Powell Comments Awaited
Stock futures paused on Friday after a final flourish to a fantastic month, as investors awaited comments from Jerome Powell. The S&P 500 rose 8.9% in November–the best monthly gain since July 2022–as the 70 basis point peak-to-trough decline in the 10-year Treasury was the steepest since the 2008 global financial crisis, according to Goldman…
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US Futures Flat, European Stocks Gain Ahead of Regional PMI Data and US Federal Reserve Chair’s Speech
U.S. futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average climbed 0.1%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 climbed 0.5% in morning trading. Signify rose 6% and Orpea added 3.8%. On the other hand, Viaplay Group Series…
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Top Company News of the Day: TikTok, X, VF Corp, Microsoft
Montana Judge Says TikTok Ban ‘Likely Violates First Amendment’ The social-media app sued after the state passed a law banning TikTok to protect residents’ privacy. Elon Musk’s F-Bombs Make Linda Yaccarino’s Job at X Even Harder Musk’s outburst is “a line in the sand that can’t be undrawn,” one ad-industry insider said. VF Corp. Lays…