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Wall Street Highlights: HPE and Juniper Networks in Negotiations, Elliott Invests $1 Billion in Match Group, and More
U.S. index futures are registering a decline in pre-market trading this Tuesday, suggesting that the enthusiasm generated by the technology-driven recovery yesterday is losing steam. At 05:46 AM, Dow Jones futures (DOWI:DJI) fell 119 points, or 0.31%. S&P 500 futures dropped 0.32%, and Nasdaq-100 futures declined 0.45%. The 10-year Treasury bond yield stood at 4.044%.…
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US Futures Slip, European Stocks Mostly Flat
U.S. futures for the S&P 500 were down 0.2% and futures for the Dow Jones Industrial Average decreased 0.3%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 was flat in morning trading. Bucher Industries AG rose 2.6% and argenx climbed 2.1%. On the other hand,…
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Top Company News of the Day: GSK, Tinder, Hewlett Packard, PepsiCo
GSK Buys Asthma-Focused Aiolos GSK said it has bought Aiolos Bio for an upfront consideration of $1 billion, with the potential for an additional $400 million. Tinder Owner Match Draws Elliott Investment The activist has a roughly $1 billion stake and intends to meet with Match to discuss ways to improve the online dating company’s…
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U.S. Stocks Close On Strong Note; Nasdaq Rises 2.2 Percent
U.S. stocks ended on a buoyant note on Monday, with the Nasdaq outperforming the other major averages thanks to hectic buying in the technology sector. A drop in bond yields, and optimism about the outlook for stocks despite recent uncertainty about the likelihood of near-term interest rate cuts helped push stock prices up. The major…
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Fed’s Consumer Credit Report Due
Atlanta Federal Reserve President Raphael Bostic is scheduled to participate in a moderated conversation on the economic outlook before the Rotary Club of Atlanta at 12:30 pm ET. At 3 pm ET, the Federal Reserve is due to release its report on consumer credit in the month of November. Consumer credit is expected to increase…
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Futures Pointing To Roughly Flat Open On Wall Street
The major U.S. index futures are currently pointing to a roughly flat open on Monday, with stocks likely to show a lack of direction after snapping a nine-week winning streak last week. Traders may be reluctant to make significant moves ahead of the release of key U.S. inflation data in the coming days. The Labor…
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Gold and Base Metals Dipped
Base metals mostly dipped along with gold as worries around risk assets like commodities continued to build. BMI said it expects copper to average $8,800 a ton this year, “on the back of a decline in U.S. dollar strength and supply constraints.” However, it added that much of this depends on Chinese demand, with a…
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Coal Equities Strong
In what has been a tough start to the year for most miners, coal has shone, Jefferies said. “The coal equities came flying out of the gates in what was just a continuation of the very strong performance of 2H23,” Jefferies said, adding that coal’s clear outperformance might not last. “We believe the macro backdrop…
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Oil Futures Fall
Oil futures fell around 1% after Saudi Arabia slashed the price for its flagship Arab Light crude to Asian customers, a barometer for how the kingdom sees the demand outlook. “The decrease was larger than the market was expecting,” ING said. “OSPs [official selling prices] for all grades into Europe, the Med and the U.S.…
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Dollar Steady
The dollar traded steady, failing to benefit much from Friday’s jobs data, and looks at risk of falling as investors “remain confident” that the Fed might cut interest rates in March, UniCredit Research said. Markets price too many interest-rate cuts for this year, but any adjustment is likely to be stronger for ECB and BOE…