ADVFN US – Market Content Editor

UBS Posts Record $29 Billion Profit on Credit Suisse Deal UBS booked a record $29 billion net profit last quarter after it integrated Credit Suisse into its books. Arm, Instacart, Klaviyo Prep for Their IPOs-With Caution Companies are lining up big investors ahead of time and selling small slugs of stock in a sign of…

Crude oil futures prices were trading higher on Wednesday as traders eyed the arrival of Hurricane Idalia on the Florida coast, falling US inventories and the release of the ADP job creation report. “According to the International Energy Agency (IEA), the Gulf of Mexico accounts for about 15% of US oil production and about 5%…

US wholesale inventories fell 0.1% month-on-month in July 2023, after an upwardly revised 0.7% decline in the previous month, preliminary estimates showed. Inventories declined for durable goods (-0.3%, same pace as June), while they recovered slightly for non-durable goods (0.2% vs -1.2%). On an annual basis, wholesale inventories increased by 0.5% in July. July wholesale…

The US economy grew an annualized 2.1% in the second quarter, revised from the preliminary 2.4% figure and down from the 2.0% expansion in the first quarter, the second estimate showed. There were downward revisions to private inventory investment and non-residential fixed investment, which were partially offset by an upward revision to state and local…