(Reuters) - U.S. oil major Chevron Corp (CVX.N) has evacuated executives from Venezuela after two of its workers were imprisoned over a contract dispute with state-owned oil company PDVSA, according to four sources familiar with the matter.Chevron asked other employees to avoid the facilities of its joint venture with the OPEC nation’s oil firm, the sources said.The arrests, in a raid by nat...Read More
NEW YORK (Reuters) - A gauge of global equities was on track for its longest losing streak this year on Wednesday as 10-year U.S. Treasury yields again topped the 3 percent mark, stoking concerns about rising costs that could dampen corporate profits.The benchmark 10-year note yield edged up to 3.033 percent as jitters about growing federal borrowing spurred more selling in U.S. government debt. S...Read More
Gold prices settled lower Wednesday, with rising bond yields and a firmer dollar sending prices to their lowest finish in five weeks. Gold futures had clawed higher Tuesday after three consecutive sessions of declines even as Treasury yields, which tend to move inversely to precious metals prices, broke above 3% for the first time since January 2014. YieldsTMUBMUSD10Y, -0.21% weighed on gold with...Read More
HOUSTON (Reuters) - Exxon Mobil Corp (XOM.N), the world’s largest publicly traded oil producer, boosted its quarterly dividend on Wednesday by about 7 percent to 82 cents, the 36th year in a row it has increased the payout.The dividend is payable on June 11 to shareholders of record as of May 14. Exxon is slated to release its quarterly results on Friday.Reporting by Ernest Scheyder; Editing...Read More
The blue-chip index just logged its longest losing streak in more than a yearThe Dow Jones Industrial Average (DJI) on Tuesday suffered its fifth straight loss, weighed down by poorly received blue-chip earnings and broad concerns about bond yields. It was the Dow's longest losing streak since March 2017, when the index suffered eight consecutive down days. However, if past is prologue, this recen...Read More
LONDON (Reuters) - British finance minister Philip Hammond said on Wednesday that London and Brussels remained at an early stage of discussions about how financial services will operate across the English Channel after Brexit.Hammond told lawmakers that Britain and the rest of the European Union had only recently struck a deal to keep their overall trade relationship unchanged for 21 months after...Read More
(Reuters) - Boeing Co’s (BA.N) profit surged past Wall Street estimates in the first quarter and booming demand for commercial jets pushed the world’s biggest planemaker to raise forecasts for cash flow and earnings in what promises to be another record year.Speaking after the results, Chief Executive Officer Dennis Muilenburg also played down concerns expressed by fellow manufacturer...Read More
NEW YORK (Reuters) - The New York Stocks Exchange said in an alert to traders on Wednesday that trading was suspended for the rest of the day in five symbols, including Amazon and Alphabet.The exchange said the suspension was due to a “price scale code” issue and any open orders in those securities will be canceled.Aside from Amazon.com (AMZN.O) and both Alphabet share classes (GOOGL.O...Read More
Intel is scheduled to report earnings after tomorrow's closeSemiconductor giant Intel Corporation (NASDAQ:INTC) is slated to report its first-quarter earnings after the close tomorrow. The stock notched a 17-year high of $54.35 on April 18, before pulling back amid a broader chipmaker sell-off, and today is fractionally lower amid reports of a Justice Department probe into possible violations of I...Read More
WASHINGTON (Reuters) - Facebook Inc said Wednesday it has declined an invitation to testify at a U.S. House of Representatives hearing Thursday on filtering practices by social media companies, a company spokesman said.The company said that even though it will not appear, it looks “forward to a continuing dialogue with members of the committee about Facebook’s strong commitment to bein...Read More
AAL, SAVE, and LUV are on track to report tomorrow morningIt's the thick of earnings season, and while blue chips have been dominating the action recently, airlines are on deck. Looking ahead to tomorrow's calendar, specifically, American Airlines Group Inc (NASDAQ:AAL), Spirit Airlines, Inc. (NYSE:SAVE), and Southwest Airlines Co (NYSE:LUV) are all slated to report first-quarter earnings ahead of...Read More
(Kitco News) - Gold and silver prices are lower in early-afternoon U.S. trading Wednesday. Gold droppedto a four-week low today. The precious metals were pressured in part by aresumption of the appreciation of the U.S. dollar on the foreign exchangemarket. The U.S. dollar index hit a 3.5-month high today. The USDX has alsoseen a bullish upside technical breakout on the daily chart, to suggest more...Read More
(Reuters) - U.S. stock indexes swung between gains and losses on Wednesday, as Boeing’s jump after upbeat results and outlook was negated by declines in technology stocks and rising U.S. bond yields.Shares of the world’s biggest planemaker rose 2.8 percent after its profit jumped by more than half in the first quarter and the company raised its full-year forecasts for cash flow and ear...Read More
LONDON (Reuters) - Prime Minister Theresa May was dealt a new defeat by Britain’s upper house of parliament on Wednesday over her Brexit plans, this time in a challenge to the government’s push to adopt wide-ranging powers to amend laws.The defeat is the latest in the House of Lords for May and her Conservative government as parliament debates the EU withdrawal bill which will sever ti...Read More
(Kitco News)- Although gold equity companies continue to struggle to attract investorinterest, one of the market’s newest gold producers is expecting it’sonly a matter of time before sentiment will shift. In an interview with Kitco News, Ken Berry, CEO of Northern VertexMining Corp. (TSX.V: NEE), said that there has been no better time forinvestors to look at commodity m...Read More
TORONTO (Reuters) - Canadian Muslim charities are leading fundraising efforts to help victims of Monday’s van attack in Toronto and their families cope with medical and funeral costs, teaming up with Toronto’s city government.Suspect Alek Minassian, 25, was charged with 10 counts of murder and 13 counts of attempted murder on Tuesday after he plowed a rental van into pedestrians on a c...Read More
WASHINGTON (Reuters) - French President Emmanuel Macron urged the United States to reject narrow nationalism and engage the world, telling U.S. lawmakers on Wednesday that modern economic and security challenges must be a shared responsibility.Capping a three-day visit to the United States, Macron told a joint meeting of Congress that isolationism and nationalism were “a tempting remedy for...Read More
OTTAWA (Reuters) - A motion by Canada’s unelected Senate calling for an end to Chinese actions in the disputed South China Sea is irresponsible and “stirs up troubles”, a Chinese embassy spokesman said on Wednesday.The Senate, whose motions are non-binding, passed one on Tuesday condemning China’s “hostile behavior” in the South China Sea, complicating efforts b...Read More
The blue-chip index is on track to extend its longest losing streak in more than a yearThe Dow Jones Industrial Average (DJI) has turned lower once again, putting the index on pace for a sixth straight loss. While Boeing (BA) continues to trade higher following its impressive earnings report, the gains have been offset by sharp slides for a number of blue chips, including Coca-Cola (KO) and Americ...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump’s nominee for Wall Street regulator Comptroller of the Currency bought financial stocks until he took office in November, according to financial disclosure documents filed with the Office of Government Ethics.While not illegal, the trading activity by Joseph Otting’s money manager could violate the spirit of ethics rules designed to pr...Read More