(Recasts with updated prices) By Eric Onstad LONDON, Oct 11 (Reuters) - Aluminium and some other basemetal prices slumped on Tuesday as concern grew that a globaleconomic downturn and rising COVID-19 cases in top consumerChina would curb demand. A reversal that saw the dollar index ease in theEuropean afternoon spurred some metals to pare losses and pushedothers into positive territory. A stronge...Read More
Volume for major equity markets was significantly lower than average yesterday where markets were open:Chinese equity indices dropped after the U.S. announced restrictions on distribution of semi-conductors chips to China.U.S. equity index futures were lower this morning. S&P 500 dropped 2 points in pre-opening trade.Qualcomm dropped $1.70 to $112.90 after KeyBanc Capital lowered its target pr...Read More
(Updates details, prices) * Gold drops for a fourth consecutive session * Thursday's U.S. inflation data on investors' radar * Gold to stay under pressure in the short term - analyst By Bharat Gautam Oct 10 (Reuters) - Gold prices fell more than 1% onMonday, as an elevated dollar and solidifying bets for anaggressive interest rate hike from the U.S. Federal Reservepushed the non-yielding...Read More
U.S equity index futures were mixed this morning. S&P 500 futures were down 26 points in pre-opening trade. Index futures moved lower following release of the September Employment Report at 8:30 AM EDT. September U.S. Non-farm Payrolls released at 8:30 AM was expected to slip to 250,000 from 315,000 in August. Actual was 263,000. September Unemployment Rate was expected to remain unchanged fro...Read More
U.S. equity index futures were lower this morning. S&P 500 futures at 7:30 AM EDT were down 18 points.Costco added $2.28 to $482.60 after announcing a sales gain in September of 10.1%.Ford gained $0.04 to $12.55 after announcing an increase in the price of its electric F150 pickup truck.Companies scheduled to report quarterly results today include Constellation Brands and ConAgra EquityCl...Read More
(Corrects Oct 5 story to show Glencore sold to Zambia's statemining investment firm ZCCM-IH, not to the state) JOHANNESBURG, Oct 5 (Reuters) - Sibanye-Stillwater has expressed an interest in Zambia's Mopani CopperMines, the mine and smelter complex looking for new investorsafter Glencore sold the asset to state mining investment companyZCCM-IH in January last year, CEO Neal Froneman said onWednes...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 32 points in pre-opening tradeIndex futures were virtually unchanged following release of the August U.S. Trade report. At 8:30 AM EDT. Consensus was a deficit of $68.00 billion versus a deficit of $70.70 billion in July. Actual was a deficit of $67.4 billion.The Canadian Dollar was virtually unchanged at US73.48 cent...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 59 points in pre-opening trade.Bank of New York Mellon added $1.04 to $40.70 after Citigroup upgraded the stock from Neutral to Buy.Gilead gained $2.00 to $64.72 after JP Morgan upgraded the stock from Neutral to Overweight. Chipotle advanced $17.29 to $1521.99 after Deutsche Bank raised its target price from $1503 to...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points in pre-opening trade.Crude oil gained $2.35 to $82.84 on reports that OPEC + will reduce production by one million barrels per day when they meet this Wednesday.Celanese dropped $0.74 to $90.60 after Deutsche Bank lowered its target price from $140 to $110.Dupont eased $0.25 to $50.16 after Deutsche Bank lowe...Read More
U.S. equity index futures were lower this morning at 7:30 AM EDT. S&P 500 futures were down 30 points in pre-opening trade..Next estimate of U.S. annualized second quarter real GDP is scheduled for release at 8:30 AM EDT is expected to remain unchanged at -0.6%.Starbucks added $0.19 to $87.30 after the company increased its dividend by 8%.Vail Resorts gained $8.36 to $218.65 after reporting a...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.Apple dropped $5.75 to $146.01 after reducing production plans for its Apple 14 iPhone. BlackBerry dropped $0.15 to US$4.94 after reporting lower than consensus fiscal second quarter earnings. Progress Software dropped $0.58 to $40.99 after reporting lower than consensus third quarter pro...Read More
(Corrects in second paragraph that parent company MMG and notLas Bambas is planning to double production in 2025 and doubleagain in 2030) By Marcelo Rochabrun and Marco Aquino LIMA, Sept 27 (Reuters) - Chinese miner MMG Ltd expects to invest $2 billion in the next five years toexpand its troubled Las Bambas copper mine in Peru and is eyeingpotential acquisitions to further increase production, an...Read More
(Recasts with updated prices) By Pratima Desai LONDON, Sept 27 (Reuters) - Copper prices extended theirdowntrend on Tuesday on worries about global growth and demanddue to interest rate hikes, a stronger dollar and climbinginventories. Earlier, copper bounced as the dollar weakened, but thedollar index reversed higher after upbeat U.S. data,including an unexpected rise in new home sales. Benchmar...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 49 points in pre-opening trade.Index futures were virtually unchanged following release of the August Durable Goods Orders report at 8:30 AM EDT. Consensus estimate was a drop of 0.5% versus a decline of 0.1% in July. Actual was a drop of 0.2%. Excluding transportation orders, consensus was an increase of 0.2% versus a...Read More
U.S. equity index futures were lower this morning. S&P 500 future were down 17 points in pre-opening trade. The British Pound dropped another 0.0145 to $1.0705 to an all-time low in overnight trading.Micron dropped $0.40 to $49.70 after Wedbush lowered its target price from $85 to $65.PG&E added $0.64 to $13.25 on news that the stock will be added to the S&P 500 Index this Friday. ...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 45 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US74.00 cents following release of Canada's July Retail Sales. Consensus was a drop of 2.0%. Actual was a drop of 2.5%.WTI Crude oil dropped $3.08 to $80.41 per barrel on strength in the U.S. Dollar. FedEx dropped 1.54 to $153.00 after targe...Read More
U.S. equity index futures at 7:30 AM EDT were lower this morning. S&P 500 futures were down 12 points in pre-opening trade. The Bank of England raised its lending rate to major banks from 1.75% to 2.25%.Lennar added $0.55 to $76.47 after reporting higher than consensus fiscal third quarter revenues. The company also raised guidance for the fourth quarter. KB Homes slipped $0.23 to $27.79 after...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Focus today is on results from the FOMC meeting scheduled for release at 2:00 PM EDT. Consensus calls for an increase in the Fed Fund Rate by 0.75% and continuation of a program to reduce the Federal Reserve's balance sheet by $95 billion per month.Berkshire Hathaway added $0.27 to $277....Read More
Equity Index futures were lower this morning. S&P 500 futures were down 30 points in pre-opening trade.Index futures were virtually unchanged following release of the August U.S. Housing Starts report at 8:30 AM EDT. Consensus was a slip to 1.440 million units from 1.446 million units in July. Actual was an increase to 1.575 million units.The Canadian Dollar slipped 0.13 to US75.11 cents follo...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 33 points in pre-opening trade. AutoZone added $1.36 to $2,167.01 after reporting higher than consensus fiscal fourth quarter revenues and earnings. Netflix gained $3.82 to $243.95 after Oppenheimer upgraded the stock to Buy.Take Two Interactive dropped $7.14 to $117.05 after the company reported a hack of Grand Theft...Read More