Market reports

  • Anbang Insurance Group Co Ltd, one of China's biggest insurance conglomerates, has been taken over by the country's insurance regulator for one year, and its chairman has been prosecuted for economic crimes.
  • Asian shares rebounded on Friday as comments from a Federal Reserve official eased worries that the central bank might raise rates more aggressively this year, while the safe-haven yen held on to its gains amid heightened volatility across markets.
  • Don't miss these top money and investing features:. Investors should always remember that nobody knows anything about the stock market's next move. Oceans of ink are spilled about stocks and investing and still the key takeaway for investors is to be open-minded but skeptical.
  • - Japanese electronics maker Sharp Corp (SHCAF.NaE) has dropped legal action to block China's Hisense Group from selling television in North America, the Nikkei business daily reported on Friday. Sharp had withdrawn a Federal lawsuit and an action filed with a U.S. trade body as of Thursday, the Nikkei said, without citing sources.
  • U.S. President Donald Trump has called a cabinet-level meeting early next week to discuss potential changes to biofuels policy, which is coming under increasing pressure after a Pennsylvania refiner blamed the regulation for its bankruptcy, according to three sources familiar with the matter.
  • - Japanese electronics maker Sharp Corp (SHCAF.NaE) would drop legal action blocking China's Hisense Group from selling television in North America, Nikkei reported on Friday. As of Thursday, Sharp had withdrawn a Federal lawsuit and an action filed with a U.S. trade body, the Nikkei Asian Review said.
  • HP Inc (HPQ.NaE) reported first-quarter revenue and profit on Thursday above Wall Street estimates as it sold more personal computers and printers, helping the company raise its full-year profit forecast. Shares of the company, which houses the hardware business of former Hewlett-Packard Co, rose 5.3 percent to $22.53 after the bell.
  • The world's largest asset manager put U.S. gunmakers on notice on Thursday that it is no longer business as usual in the wake of a shooting that killed 17 at a Florida high school.
  • Crypto turnaround in jeopardy as all major currencies tumble. The No. 1 digital currency, bitcoin has slumped back below support at $10,000, just 36- hours after making a run at$ 12,000. Bitcoin has hit a Thursday low of $9,730.98 and was most recently trading down 4.9% at $9,995.18. "Bitcoin continues to be a volatile as ever, having almost double in price in two weeks since bottoming around $6,000 on 6 February," wrote Craig Erlam, senior market analyst at Oanda in a research note.
  • 2017 stock gains accompanied a' bear flattening' of the yield curve. Stock-market investors should pay closer attention to the an under-appreciated corner of the bond market-- the yield curve. A Treasury selloff that took the 10- year note yield to a four-year high appeared to send stocks lower on Wednesday after the minutes from the Federal Reserve's most recent gathering stoked fears of a more aggressive series of rate increases.
  • The cost of hedging against downside risk is up substantially for Amazon, Citigroup, and health-care stocks. The U.S. stock market has retraced much of the ground it lost in its recent correction, giving some support to the idea that a near-term bottom may have been achieved. However, there are still pockets of the market that investors are skeptical about.
  • By Victor Reklaitis, MarketWatch, Sunny Oh. Investors remain focused on Fed minutes. Treasury prices rose, pulling yields higher Thursday after bond-buyers stepped back into the market to arrest the previous day's selloff that came after Federal Reserve minutes signaled more interest-rate hikes in the offing.
  • Feb 22 - HP Inc (HPQ.NaE) reported first-quarter revenue and profit on Thursday above Wall Street estimates as it sold more personal computers and printers, helping the company raise its full-year profit forecast. Shares of the company, which houses the hardware business of former Hewlett-Packard Co, rose 5.3 percent to $22.53 after the bell.
  • The technology-focused Nasdaq on Thursday marked its longest stretch of closes in negative territory since November of 2016, according to FactSet data. The Nasdaq Composite Index which had been trading in the green for most of Thursday's session, finished off 0.1% at 7,210, notching its fourth straight decline. That represents the index's longest skid since the nine-session period ended Nov. 4, 2016, just before President Donald Trump was elected.
  • Stephen Schwarzman has a simple mission for Blackstone, the world's biggest listed private-equity group: double assets under management. For a group that already has $434 billion up from less than $100 billion a decade ago, that sounds ambitious, but Blackstone isn't alone. The biggest private-equity firms are in a fund-raising frenzy, fed by insurers' and pension funds' hunt for yield and a conviction that private markets will produce better returns than highly liquid and...
  • By Sara Sjolin, MarketWatch, Anneken Tappe. The U.S. dollar slipped against many of its rivals on Thursday, most notably the Japanese yen, shrugging off a 45- year low for first time U.S. jobless claims. Treasury yields, which often influence currency moves, also fell on Thursday afternoon, a day rising yields coincided with the dollar firming.
  • Three locations are currently operating that combine Outback and Carrabba's menu items for takeout. No need to sit down at an Outback Steakhouse to enjoy a ribeye and a Bloomin' Onion anymore. Bloomin' Brands Inc. (BLMN.NaE), whose restaurant chains include Outback Steakhouse and Carrabba's Italian Grill, has opened three Express locations in Florida that combine elements of both the Outback and Carrabba's menu.
  • If Barclays (BCS.NaE) has the money now for bigger shareholder payouts, why isn't it making them? The answer shows the risks for investors. The U.K.-based bank has been under pressure from investors to return more capital after cutting its dividend in half in 2016. The paltry payout remained the same in 2017, the bank announced Thursday, though Chief Executive Jes Staley said it would restore its dividend at the end of 2018. In other words, be patient.
  • Short-term hiccup not enough to derail bullish euro case: analysts. Economic data this week made for a hiccup in Europe's growth story, but that might not be enough to change long-term expectations for continued dollar weakness against the euro. Coming into 2018, many foreign exchange strategists presented their case for currencies as follows: the growing eurozone economy would continue to play catch-up with the U.S., while the European Central Bank would slowly move toward...
  • CryptoWatch Today: Robinhood launches free crypto exchange. Cryptocurrency prices plummeted Thursday, marking a second day of losses that has pushed the value of many major cryptocurrencies down by as much as 10%. The No. 1 digital currency, bitcoin below a psychological level at $10,000, and at one point had lost $2,000 from Wednesday's peak.
  • Oil futures erased a small decline to turn higher Thursday after government data showed an unexpected drop in U.S. crude inventories. The Energy Information Administration said crude stocks fell by 1.6 million barrels. A survey of analysts by The Wall Street Journal had produced an average estimate for a 1.9 million barrel rise.
  • Oil futures settled higher Thursday, jumping after an unexpected fall in U.S. crude inventories. West Texas Intermediate crude for April delivery on the New York Mercantile Exchange rose $1.09, or 1.8%, to settle at $62.77 a barrel. Oil turned higher after the Energy Information Administration said crude stocks fell by more than 1.6 million barrels last week, compared with expectations for a rise in inventories.
  • By William Watts and Sara Sjolin, MarketWatch. Dollar's retreat also provides support. Oil futures turned higher Thursday after government data showed an unexpected drop in crude inventories last week.
  • Investors have been feverishly pushing up Wayfair Inc.' s stock despite the company's growing losses, worsening free cash flow and surging marketing spending. That run may finally be coming to an end. On Thursday, the company reported fourth-quarter earnings that sent the stock tumbling more than 20%.
  • Shares of gunmakers American Outdoor Brands (AOBC.NaE) and Sturm Ruger & Company (RGR.NaE) rallied on Thursday after U.S. President Donald Trump advocated tightening background checks for guns in response to last week's high school massacre in Florida.
  • By Carla Mozee and Mark DeCambre, MarketWatch. ECB sees inflation rising but not enough to tighten monetary policy. Gold futures ended slightly higher on Thursday as softness in the U.S. dollar and a slight pullback in bond yields helped to nudge the precious metal slightly higher.
  • Gold futures settled slightly higher on Thursday amid softness in the U.S. dollar and a slight pullback in bond yields. April gold closed up 60 cents, or less than 0.1%, at $1,332.70 an ounce. The move comes a day after Federal Reserve meeting minutes hinted at a quickened pace of raising borrowing costs, putting pressure on dollar-pegged commodities.
  • Even if you made just one transaction, you likely have to pay. Many people holding bitcoin have seen massive gains, some becoming overnight millionaires after the currency soared more than 1,000% in value over the last 12 months-- but now comes the less fun part: paying taxes. Do you need to file paperwork for your cryptocurrency holdings?
  • NY Fed President latest to pour cold water on cryptocurrency market. William Dudley, New York Federal Reserve President, on Thursday offered the latest critique of cryptocurrencies. Speaking at a media briefing in Manhattan to discuss the economic outlook for Puerto Rico in the wake of a spate of catastrophic hurricanes, Dudley said there's a "speculative mania" around cryptocurrencies, which he described as dangerous.
  • By Carla Mozee and Sara Sjolin, MarketWatch. Barclays to raise dividend; U.K. growth estimate revised down. U.K. stocks ended lower on Thursday, underperforming the wider European stock markets as heavyweights such as British American Tobacco and BAE Systems declined after earnings.
  • - Target Corp (TGT.NaE) should hold off on plans to cash in on a perceived advantage in toys after the collapse of Toys "R" Us, several of the company's investors told Reuters, worried it could eat up capital desperately needed in an Amazon-dominated retail world.
  • Airbnb is rolling out new services aimed at attracting travelers looking for luxury accommodations and traditional hotels, the latest move to contend with sputtering growth in its original home-renting business.
  • By Carla Mozee and Sara Sjolin, MarketWatch. Germany business climate index falls. European stocks closed slightly lower on Thursday, after paring losses into close as U.S. stocks rebounded after upbeat data on the labor market.
  • An ill-fated deal struck by global consultancy McKinsey in South Africa has been used by Harvard Business School as a case study for students. McKinsey had a local management consultancy, Trillian, as a partner when working on a big contract to advise South African state utility Eskom. Trillian was controlled at the time by friends of Jacob Zuma, who was then South Africa's president.
  • Analysts are encouraged by the direction and focus of Pandora's new leadership, but say the company has a long way to go. Shares of internet radio and music streaming company Pandora Inc. soared more than 10% in after-hours trading on Wednesday following a fourth-quarter earnings report in which the company said revenue grew 7% year-over-year. That was above Wall Street expectations, and though people spent fewer hours listening to uring the quarter and despite a...
  • BMW AG agreed to pay more than $2.2 million to settle U.S. government claims that it failed to provide required refunds to 492 military personnel who lawfully terminated their vehicle leases because they were called to duty.
  • - Ford Motor Co (F.NaE) on Thursday named company insider Kumar Galhotra as head of its North American operations, filling the gap left by the abrupt departure of Raj Nair after an internal investigation uncovered "inappropriate behavior" by the executive.
  • The correction coincided with a' blackout' period for stock buybacks. The recent correction on Wall Street was largely driven by concerns that inflation could be returning to the economy, possibly pushing the Federal Reserve to become more aggressive in raising interest rates. But while that was the catalyst, it wasn't the sole reason why stocks declined as rapidly as they did.
  • Angry Birds game maker Rovio Entertainment (ROVVF.NaE) warned that profitability would fall short of forecasts, halving its share price and leaving investors in the Finnish company nursing big losses after a flotation last September. Rovio blamed increased marketing costs and other investments for the gloomier outlook.
  • UBS Chief Executive Sergio Ermotti expects to hand over to a colleague when he calls it quits atop Switzerland's biggest bank, he said in a magazine interview. The succession issue does not seem pressing.
  • Ireland expects the final disputed tax bill that the European Commission ordered it to collect from Apple (AAPL.NaE) to be "in the ballpark" of the 13 billion euros estimated, the head of the country's tax collectors said on Thursday.
  • Dollar weakness could add more than 3% to global trade in 2018. The drop in the U.S. dollar over the past year may have a silver lining for global trade, according to Oxford Economics's head of global macro research. That weakness in the buck could end up delivering a boost of more than 3% to the already growing global trade level in 2018, Gabriel Sterne said in his Oxford Economics note earlier this week.
  • British American Tobacco (BTI.NaE) could be forgiven for missing the good old days of straightforward market decline. After years of managing declining smoking rates, higher regulation and taxes, the cigarette industry is being convulsed by a growth craze. This is driven principally by a new type of cigarette, designed to be heated rather than combusted, that has taken Japan by storm.
  • French supermarket chain Intermarche could be fined after competition investigators found it breached rules with its hefty discounts on products such as the Nutella chocolate spread offer that caused pandemonium in some stores last month.
  • District Court Judge Richard Leon hears the U.S. government's lawsuit to stop the merger of AT&T (T.NaE) and Time Warner (TWX.NaE) next month, he will be deciding not just one media deal but two. Not only can his decision allow one blockbuster merger, but it could also lead to the unwinding of a second. After the president of the U.S. and the chief executive of AT&T (T.NaE), the person who will most closely watch the case will be Brian Roberts, CEO of Comcast.
  • Ford Motor Co (F.NaE) on Thursday named company insider Kumar Galhotra as head of its North American operations, filling the gap left by the abrupt departure of Raj Nair after an internal investigation uncovered "inappropriate behavior" by the executive.
  • * Court to rule on legality of bans on diesel vehicles. * Retrofits could cost automakers billions of euros. * Similar bans looming in big cities in other countries. By Markus Wacket.
  • Critical information for the U.S. trading day. The Fed can still throw a mean curveball-- and that's not the only thing we learned after the central bank's minutes yesterday. "Given the market's whipsaw reaction, we could add another key takeaway-- that recent heightened market volatility could be here to stay," said Jasper Lawler, head of research at London Capital Group.
  • "After further review," as they say in the NFL, the stock and bond markets decided the latest minutes of the Federal Open Market Committee suggested higher interest rates and lower asset prices. Could it be that the markets are anticipating the central bank under Jerome Powell, the newly installed Federal Reserve chairman, will be less inclined to provide a backstop to the markets than his direct predecessors? The Dow Jones Industrial Average dropped 167 points after having been up...
  • * Weekly jobless claims drop 7,000. * Four-week average of claims falls 2,250. * Leading indicator increases 1.0 percent in January. By Lucia Mutikani. The number of Americans filing for unemployment benefits fell to a near 45-year low last week, pointing to strong job growth in February and solid momentum in the economy.
  • Newmont Mining Corp (NEM.NaE) laid out plans on Thursday for new projects to grow gold production and cut costs, while reporting market-beating profits and output forecasts that position it to take the title of world's largest bullion producer in 2018.