Jan 17 (Reuters) - Apple Inc will make about $38 billion in tax payments to bring funds kept overseas back to the United States under new federal tax laws, the company said on Wednesday. Apple said it expected to invest over $30 billion in the United States over the next 5 years, and would create 20,000 jobs through hiring at existing campuses and through opening a new campus. (Reporting by Sonam...Read More
* Goldman Sachs slips on trading revenue weakness* Boeing shares jump after announcing JV to make aircraft seats* Apple slips after brokerage downgrade* Indexes up: Dow 0.82 pct, S&P 0.60 pct, Nasdaq 0.59 pct (Updates to early afternoon)By Sruthi ShankarJan 17 (Reuters) - Wall Street's main indexes were higher on Wednesday, led by technology and industrial stocks as well as a recovery in the f...Read More
Bank stocks remain in focus today, with a handful of companies reporting earnings. Big-cap financial name Morgan Stanley (NYSE:MS) will soon be in the spotlight, too, expected to reportfourth-quarter earnings before Thursday'sopen. Below, we take a look at how MS stock has performed on the charts, and how options traders are speculating ahead of tomorrow's report.Morgan Stanley stock has had a res...Read More
By Lynn AdlerNEW YORK, Jan 17 (Reuters) - Retail investors are expected to keep pouring money into leveraged loan funds this year as they continue to show a clear preference for floating-rate assets in a rising interest rate environment, portfolio managers said.Net inflows of nearly US$13bn in 2017 were 34% higher than in 2016, despite moderate outflows in most weeks since early August, according...Read More
(Repeats to more subscribers with no changes to text)* Fees estimated at less than 0.2 pct of listing* Financial reward smaller than other big IPOs* Bankers jostling for mandates for league table credit, prestige* Also hoping for piece of larger Vision 2030 pie By Dasha Afanasieva and Clara Denina LONDON, Jan 17 (Reuters) - The banks that will advise and execute Saudi Aramco's stock market listi...Read More
(Repeats item to attach to alerts, no change to content)TORONTO, Jan 17 (Reuters) - Below are some key quotes from a news conference by Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins on Wednesday after the central bank raised interest rates to 1.25 percent. POLOZ ON NAFTA RISK"For us, it is not a matter of a binary event. We simply don't know enough about th...Read More
LAGOS, Jan 17 (Reuters) - Nigeria plans to raise 110 billion naira by selling sovereign bonds with maturities of five and 10 years on Jan. 24, the Debt Management Office (DMO) said on Wednesday.The debt office said it will raise 50 billion naira with the five-year bond and 60 billion naira with the 10-year paper, using the Dutch auction system.The bonds are reopenings of previous issues and the re...Read More
(.)LONDON, Jan 17 (Reuters) - The European Bank for Reconstruction and Development provided a record amount of financing last year but is bracing for a drop in profits following sharp falls in currencies like Turkey's lira and Russia's rouble.Preliminary figures for 2017 published by the EBRD on Wednesday showed it invested 9.7 billion euros ($11.85 billion)across a region that has spread from it...Read More
By William SchombergLONDON, Jan 17 (Reuters) - The first two Bank of England policymakers to make speeches in 2018 have highlighted the debate within the British central bank about when interest rates might rise above their financial-crisis emergency levels.Two months after the BoE raised borrowing costs for the first time in more than a decade, Silvana Tenreyro and Michael Saunders struck contras...Read More
The Dow Jones Industrial Average (DJI) is up triple digits at midday, with an analyst-induced jump for Boeing (BA) helping to overshadow a post-earnings dip for Goldman Sachs (GS) and a downgrade for Apple stock. Tech is outperforming again -- with Intel (INTC) the best Dow stock so far -- and is a big reason the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also sporting big gains, with th...Read More
* Fees estimated at less than 0.2 pct of listing* Financial reward smaller than other big IPOs* Bankers jostling for mandates for league table credit, prestige* Also hoping for piece of larger Vision 2030 pie By Dasha Afanasieva and Clara Denina LONDON, Jan 17 (Reuters) - The banks that will advise and execute Saudi Aramco's stock market listing are expected to share a tiny proportion of the $100...Read More
* ECB officials raise concerns about surging common currency* Dollar finds respite but outlook remains grim* Cryptocurrency rout accelerates on clampdown worries* Canadian dollar weakens as BOC rings cautious tone (Updates market action, changes dateline, previous LONDON)By Richard LeongNEW YORK, Jan 17 (Reuters) - The euro slipped on Wednesday, pulling back from a three-year high above $1.23 as s...Read More
(Kitco News)- While gold faces a lot of headwinds at the start of a new year, analystsat Scotiabank said that this could be the market’s biggest strength.In a recent report, the analysts explained that gold remains anattractive diversifier as global equity markets continue to hit record levels.“Perhaps it is because of the strength in other markets and theapparent complacency regarding...Read More
U.S. stocks have been on fire in 2018 so far, with the Dow rallying more than 1,000 points in under 10 sessions, and the Nasdaq and S&P 500 Index (SPX) carving out record highs of their own. However, the stock market rally may have gotten ahead of itself, if a recent overbought indicator is any tell. Last week, 208 of the 500 SPX stocks notched new 52-week highs, according to Schaeffer's Quantitat...Read More
OSLO, Jan 17 (Reuters) - Some of Europe's richest deposits of valuable materials are in the trash, ranging from gold in smartphones to cobalt in electric car batteries, according to a survey of urban mining published on Wednesday.Scrap vehicles, batteries, computers, fridges and other electronic and electrical waste total about 18 million tonnes a year and contain materials worth billions of dolla...Read More
(Kitco News) - Despitereaching all-time highs this week, one famed investor says that any long-termrallies in the market won’t hold. Robert Kiyosaki,best-selling author of “Rich Dad Poor Dad” and his latest book “Why The RichAre Getting Richer,” said that a market crash is imminent within the next twoto three years. The S&P 500Index has sustained its second-longes...Read More
TRIPOLI, Jan 17 (Reuters) - Libya's currency has gained sharply on the informal market, rising to around six dinars to the dollar on Wednesday compared with around nine dinars to the dollar at the start of the year.The dinar's gains came as the central bank launched this year's programme for selling limited quantities of dollars to citizens at the official exchange rate of 1.3 dinars. One black ma...Read More
(Adds aid worker comment)RIYADH, Jan 17 (Reuters) - Saudi Arabia's King Salman ordered a deposit of $2 billion to be paid into Yemen's central bank on Wednesday to shore up the weak Yemeni currency, the Saudi government said.The move was made a day after the Yemeni prime minister issued a public plea for funds to prop up the rial and help stave off hunger in the war-torn country."It's not a...Read More
Discount retailers Dollar Tree, Inc. (NASDAQ:DLTR) and Dollar General Corp. (NYSE:DG) earned some analyst love today, after Oppenheimer initiated coverage with "outperform" ratings. The brokerage attributed the bullish notes to attractive growth prospects for the retailers over the long term, initiating price targets of $130 and $112, respectively, for DLTR and DG stocks -- in uncharted territory....Read More
Apple Inc. (NASDAQ:AAPL) has put in a strong technical performance over the long term, with the stock boasting a 46.8% year-over-year lead -- and fresh off yesterday's record high of $179.39. And while the bulk of the 29 analysts covering shares maintain a "buy" or better rating, Longbow Research issued a rare Apple downgrade this morning.Specifically, the brokerage firm cut its rating on AAPL sto...Read More