Market reports

  • November marks the beginning of the best six months of the year for stocks. Maybe it's the carb-induced food coma or investors feeling too complacent to hit the sell button around the holidays, but November, and in particular the Thanksgiving week, have traditionally been good to investors. "Trading around Thanksgiving has a bullish tendency perhaps buoyed by the' holiday spirit,'" wrote Jeff Hirsch, editor of the Stock Trader's Almanac, on his blog.
  • Investors' are missing full potential for volatility'. One of the biggest shopping days of the year is coming up, and that means retail companies will be seeing a lot of action--from consumers getting ready for Christmas, as well as from Wall Street traders playing the action. According to Goldman Sachs, a third or more of annual retail sales come in the final quarter of the year, driven by holiday demand.
  • U.S. markets are closed Thursday, see shortened session Friday. Investors have many things to be thankful for this year: global equities had risen in every single month this year, while every major economy continues to expand. Perhaps U.S. investors can pause and reflect on gains and potential risks ahead in a holiday-shortened week.
  • European stocks choppy; German political crisis in focus. European stocks largely struggled to find firm direction Thursday, but French blue-chip shares climbed after data showed the country led the strengthening in the eurozone economy this month. How key gauges are moving: The Stoxx Europe 600 was up less than 1 point at 387.14 in what's been a topsy-turvy session for European equities.
  • Workers at Amazon's (AMZN.NaE) main distribution hub in Italy are planning their first ever strike for Friday, trade unions said, threatening to disrupt one of the busiest shopping days of the year. Like the rest of Europe, Italians in recent years have embraced the U.S. tradition of Black Friday, a day of heavy discounting by retailers on the day after Thanksgiving.
  • On Oct. 6, with the dust still settling on Angola's first change of power in 38 years, new President João Lourenço sat down with international oil majors at the presidential palace in Luanda.
  • Pipeline disruption expected to hit U.S. supplies, as countdown to OPEC meeting begins. Oil prices eased on Thursday, after the U.S. market hit a more-than-two-year high on reduced crude flow from Canada and falling stocks. Brent crude, the global oil benchmark, fell 34 cents, or 0.5%, to $62.98 a barrel on London's ICE Futures exchange.
  • It is well known that Chinese history is circular--dynasties rise and dynasties fall. So is commentary on the country's economy. In 2008, China was supposedly on the brink of collapse.
  • Russia's technical safety watchdog Rosstandart said on Thursday Peugeot-Citroen planned to recall 3,085 Peugeot 4008 cars and 2,971 Citroen C4 Aircross cars sold in Russia between March 2012 and April 2016. The recall is due to possible faults in rear trunk door and windscreen wiper mechanisms.
  • Billionaire Ray Dalio shares his radical ideas about success. You want the truth about success? Ray Dalio is convinced you can handle the truth.
  • Boeing (BA.NaE) and Okay Airways, China's first privately owned airline, have finalised an order for five 787-9 Dreamliners for $1.4 billion, Boeing (BA.NaE) said on Thursday. The new order will strengthen Okay Airway's plan to expand into the long-haul market, the official Xinhua news agency quoted Okay Airway's president Li Zongling as saying.
  • - Uber rival Lyft Inc is raising an additional $500 million in funding, according to a U.S. share authorization document filed in Delaware news website Axios said. The additional funding round, led by Alphabet Inc's CapitalG, is an extension of the $1 billion round announced in October.
  • Demand for next-generation lifts and car components enabled Thyssenkrupp to report its highest annual order intake in five years as the German firm slowly exits steelmaking. Thyssenkrupp is in the middle of a major shift under Chief Executive Heinrich Hiesinger towards technology and away from the more volatile steel industry, its traditional mainstay.
  • Shenzhen and ChiNext benchmarks dive nearly 3%. More new regulations and investors' preference for larger-cap companies whacked Chinese stocks, while activity was muted elsewhere in Asia. Thursday is a holiday in Japan and the U.S.
  • Want to make sure your new ride won't wreck your budget? Here's a chart that might help. In a corner of Reddit devoted to visual representations of data, users have buzzed about a graphic that looks at different approaches to car ownership.
  • Between such potential topics as Trump, the national anthem,# MeToo, and whether oysters really belong in stuffing, there's not enough Brunello in all of Tuscany to take the edge off the likely family squabbles this Thanksgiving. But halfway through the first course, you might find yourself longing for one of those conflict starters when somebody turns to you, a family member who knows things, and says: "Hey, you know things. Now, there are two ways to approach this thorny question.
  • U.S. stock futures were struggling to make any headway on Thursday, as traders steered away from making any big trading bets and instead focused on Thanksgiving Day feasting. The global backdrop for equities was mostly weaker, with Chinese stocks dropping sharply and European stocks mostly sluggish. What are the main benchmarks doing?
  • British Gas parent Centrica dives, leading the way lower for blue-chip stocks. British blue-chip stocks slumped Thursday following a three-day move higher, led lower in morning action by a plunge for British Gas parent Centrica PLC after its disappointing financial update. Traders continued to ponder the Autumn Budget presented Wednesday by Chancellor of the Exchequer Philip Hammond, which included downgrades to the government's forecasts for U.K. economic growth.
  • Players in a growing industry tied to bitcoin and its rivals sound off on common misconceptions. Are you scratching your head over the cryptocurrencies craze? A few players in the growing industry around digital currencies are trying to help, as bitcoin keeps setting records.
  • Others don't buy the comparison:' Just give it up on the tulips'. Off in its corner of the financial universe, bitcoin has been providing fireworks yet again, drawing oohs and aahs from traders who have moaned about the S&P 500' s lack of volatility. The largest cryptocurrency by market cap was twinkling around the $8,200 mark recently, after breaking above $8,000 for the first time ever over the weekend.
  • In "Star Wars," even Darth Vader ultimately found redemption. That bodes well for Electronic Arts (EA.NaE), which has spent the last few days in Wall Street's torture chamber. The videogame maker's shares have lost more than 3% since its decision last week to pull in-game microtransactions from "Star Wars Battlefront II" in response to an outcry from early players.
  • Cathay Pacific Airways Ltd's (CPCAF.NaE) pilots will vote on whether to raise funds as a buffer against any actions the loss-making Hong Kong airline takes against them like unilateral benefit changes or job losses, according to the pilot's union.
  • What could go wrong betting on fintech companies catering to China's increasingly affluent consumers? Quite a lot, it turns out. The biggest risk comes from Beijing.
  • The dollar was on the defensive Thursday after suffering its worst drubbing in five months, as the biggest slump in Chinese stocks in almost two years took the shine off another record high in the global bull run.
  • - Saudi Arabia has agreed to buy about $7 billion worth of precision guided munitions from U.S. defense contractors, sources familiar with the matter said, a deal that some lawmakers may object to over American weapons having contributed to civilian deaths in the Saudi campaign in Yemen.
  • By Sue Chang and Anora M. Gaudiano, MarketWatch. Hewlett Packard Enterprise and HP Inc. led S&P 500 decliners. The S&P 500 and the Dow ended slightly lower Wednesday, maintaining a soft tone after the Federal Reserve minutes indicated that an interest-rate hike is likely but the pace of future tightening could be more moderate than expected given muted inflation.
  • Fundstrat strategist Tom Lee earlier this month tapped the brakes on his bold bitcoin outlook, saying its price tag had gotten ahead of the fundamentals. His hesitation made sense, considering bitcoin had just cruised past his at-the-time bullish forecast of $6,000 by 2018. Things move quickly in the crypto trenches, of course, and October's massive rally pushed bitcoin above $7,000.. So Lee urged investors to be cautious.
  • The U.S. International Trade Commission said on Wednesday it had launched an investigation into allegations that German manufacturers Wirtgen GmbH and Joseph Voegele AG infringe on patents held by Caterpillar Inc (CAT.NaE) . The ITC said its investigation would look into road construction machines, including road milling and road paving machines.
  • By Victor Reklaitis, MarketWatch, Anneken Tappe. The U.S. dollar fell to a four-week low against its major rivals on Wednesday, pummeled by mixed data and a mixed message from the minutes of the Federal Reserve's last policy meeting. The minutes confirmed that a near-term interest rate increase was all but assured, but showed doubt over persistently low U.S. inflation grew, casting doubt on the pace of rate increases in 2018..
  • By Myra P. Saefong, MarketWatch, Rachel Koning Beals. Silver prices top gold's gains. Gold prices ended sharply higher Wednesday on the back of a weaker dollar, and moved up in electronic trading after minutes from the Federal Reserve's November meeting hinted that the central bank may not be as aggressive in raising interest rates next year as expected.
  • Could the BOJ be at a turning point? The Japanese yen climbed to its highest against the dollar since September on Wednesday, as reports put monetary policy normalization back on the table for the steadfastly accommodative Bank of Japan, and as the U.S. unit faced broader selling pressure. The move in the yen came in thinned pre-Thanksgiving volumes.
  • Many Federal Reserve policymakers expect that interest rates will have to be raised in the "near term," according to the minutes of the U.S. central bank's last policy meeting released on Wednesday. The readout from the Oct. 31-Nov. 1 meeting, at which the Fed kept rates unchanged, also showed policymakers generally agreed the economy was poised for strong growth.
  • The clean-up of an oil spill from TransCanada Corp's Keystone pipeline may last several weeks, South Dakota's environmental regulator said on Wednesday, but it is still unclear when the key artery will restart.
  • Tax cut or no tax cut, companies could be spending a lot more money in the year ahead. There was an awkward moment during an onstage interview with White House economic adviser Gary Cohn at The Wall Street Journal CEO Council earlier this month. Asked if the tax bill would spur them to boost investment, only a smattering of executive raised their hands.
  • The future looks bright for Deere& Co. That should actually make investors nervous. Fiscal fourth-quarter results out Wednesday show that Deere's business is gaining strength, thanks to improving agricultural and construction markets world-wide. Sales of $8 billion and earnings of $1.57 a share grew by 23% and 74%, respectively, from a year ago.
  • By Myra P. Saefong and Barbara Kollmeyer, MarketWatch. EIA reports first weekly fall in U.S. crude supplies in 3 weeks. Oil prices climbed Wednesday as a weekly decline in U.S. crude supplies backed expectations that OPEC will decide to extend its output-cut deal when it meets with other major producers next week.
  • By Carla Mozee and Victor Reklaitis, MarketWatch. Crude rally helps lift oil and gas stocks. European stocks lost ground Wednesday, led lower by drops for Altice NV, Schibsted ASA and Barratt Developments PLC.
  • Procter & Gamble Co (PG.NaE) is still reviewing a tally of shareholder votes cast at its annual meeting more than a month ago, after a fierce proxy contest narrowly handed activist investor Nelson Peltz a board seat.
  • By Carla Mozee and Victor Reklaitis, MarketWatch. Miners rise; Thomas Cook shares tumble on FTSE 250. British blue-chip stocks closed with gains for a third day in a row Wednesday, as commodity shares strengthened, but home building stocks were knocked lower after the U.K. finance minister outlined the government's plans for the housing market.
  • - Rockwell Automation Inc (ROK.NaE) rejected Emerson Electric Co's (EMR.NaE) sweetened $29 billion takeover offer on Wednesday, in its strongest rebuttal to date of the proposed combination of two of the world's largest factory equipment makers.
  • German business software giant SAP , which last month said its South African sales commissions were being probed by U.S. regulators, has launched an investigation into its business practices in the Gulf region, it said on Wednesday. The company also said one of its executives in the Gulf region had resigned and another was on administrative leave, without giving further details.
  • Bespoke Investment Group:' The stuff going on with Initial Coin Offerings is ridiculous'. As a heated debate rages over whether bitcoin is real money or not, the cryptocurrency has defied the naysayers to surge above $8,300 this week. Yet bitcoin's very effervescence is undermining its credibility with investors who are leery of assets that gain 750% in less than a year.
  • Hewlett Packard (HPE.NaE) shareholders should be used to the fact by now that Meg Whitman sometimes changes her mind. That doesn't always work out too badly. Whitman took the reins of the storied tech giant in 2011, she often insisted that Hewlett Packard (HPE.NaE) was "better together."
  • Urban Outfitters (URBN.NaE) was upgraded to overweight at J.P. Morgan after the earnings results. Urban Outfitters Inc. (URBN.NaE) executives say fashion is back in style and it helped drive same-store sales higher across all three of the company's core brands for the first time since 2015..
  • The otherwise quotidian world of paint is turning into a feeding frenzy of merger activity. Money is to be made betting on the prime targets. The latest news: Japan's Nippon Paint is interested in Axalta Coating Systems, pushing aside a bid by Dutch rival Akzo Nobel, which itself has been a target for industry leader PPG Industries.
  • - U.S. auto sales will show a 3.5 percent rise in November from a year earlier with retailers stretching out Black Friday deals for the full month, industry consultant and car shopping website Edmunds said on Wednesday. Edmunds estimated that November U.S. sales would be 1.4 million new cars and trucks, for a seasonally adjusted annualized rate of 17.8 million.
  • Lower Saxony, Volkswagen's second-largest shareholder, said it will hold on to its stake in the carmaker despite one of the German state's two main parties calling for changes in the way the company is managed.
  • U.S. stocks were little changed on Wednesday, with telecom services shares among the biggest movers while the energy sector rose in line with gains in crude oil. Verizon and AT&T rose 2.0 percent and 1.6 percent respectively on bets they will benefit from the U.S. government's plan to rescind net neutrality rules put in place by the Obama administration.
  • Britain will reprivatise bailed-out lender Royal Bank of Scotland (RBS.NaE) by selling 15 billion pounds of shares, according to budget documents released on Wednesday, in a boost to finance minister Philip Hammond's coffers. The government will begin the delayed share sale by selling 3 billion pounds of shares in RBS before the end of the 2018-19 fiscal year, the government said.
  • - Shares of Hewlett Packard Enterprise Co (HPE.NaE) fell 6 percent on Wednesday after Chief Executive Officer Meg Whitman's decision to step down from the role took Wall Street by surprise. Whitman, one the most high-profile executives in the United States, said on Tuesday she would quit as CEO in February and hand over the reins to company veteran Antonio Neri.
  • Smartphone maker Apple Inc (AAPL.NaE) and its biggest manufacturing partner on Wednesday said that a small number of students were discovered working overtime in its Chinese factory, violating local labor laws.