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Samsung Warning Knocks Tech Stocks
Stock futures were lower early on Tuesday as a profit warning from Samsung Electronics weighed on the technology sector. Samsung said its fourth-quarter operating profit may fall 35% as weak consumer demand for smartphones hits sales of memory chips.
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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.…