ADVFN US – Market Content Editor
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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…
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Premarket Movers: Alaska Airlines, United Airlines, Merck, Southwestern Energy, Tesla and more
Alaska Airlines and United Airlines said they were grounding their MAX 9 jets. Alaska Air fell 6%, and United was down 2.7%. Spirit fell more than 15%. Merck is in advanced talks to acquire Harpoon Therapeutics for about $700 million, Bloomberg reported, citing people familiar with the matter. Merck is discussing paying roughly $23 a…
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Boeing Drags Down Dow Futures
Stock futures indicated a cautious session on Monday after a plunge in Boeing shares and amid uncertainty over Federal Reserve policy. Boeing fell more than 8% premarket after the Federal Aviation Administration ordered the temporary grounding of 171 Boeing 737 MAX 9 planes after a MAX 9 operated by Alaska Airlines lost a section of…
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US Futures Mixed, European Stocks Mostly Down
U.S. futures for the S&P 500 were flat and futures for the Dow Jones Industrial Average declined 0.3%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 fell 0.2% in morning trading. Temenos rose 4.4% and Elia Group added 4.3%. On the other hand, alstria office…
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Top Company News of the Day: Shell, Nvidia, Boeing, China Evergrande
Shell Flags Impairment Hit of up to $4.5 Billion Shell said its fourth-quarter earnings took a hit of up to $4.5 billion in impairments that were offset by significantly higher gas trading, while its overall production volumes are on track to meet targets. Nvidia’s New China Pickle: Customers Don’t Want Its Downgraded Chips The tech…
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U.S. Stocks Close Slightly Higher Following Volatile Session
After trending lower during the past several sessions, stocks saw considerable volatility over the course of the trading day on Friday. The major averages swung back and forth across the unchanged line before eventually closing slightly higher. The tech-heavy Nasdaq inched up 13.77 points or 0.1 percent to 14,524.07, snapping a five-session losing streak. The…
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Crypto: Long Queue for ETH Validators, VanEck Strengthens BTC with Developer Support, and More
Bitcoin surpasses its maximum price limit and the crypto market fluctuates Bitcoin (COIN:BTCUSD) recently exceeded its maximum price limit, while the total value of the cryptocurrency market remains supported. Simultaneously, the Internet Computer (COIN:ICPUSD) has resumed its parabolic upward trend, rising by 33.6% in the last 7 days. Another highlight on Friday was the record-breaking…
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U.S. Employment Jumped More Than Expected
A closely watched report released by the Labor Department on Friday showed employment in the U.S. jumped by much more than expected in the month of December. The Labor Department said non-farm payroll employment surged by 216,000 jobs in December after climbing by a downwardly revised 173,000 jobs in November. Economists had expected employment to…