Market reports

  • By Barbara Kollmeyer, MarketWatch, Anneken Tappe. The U.S. dollar got a boost on Tuesday, as traders returned from an extended holiday to jittery equity markets and climbing bond yields. Dollar Index, a measure of the buck's strength against six other currencies, climbed 0.7% to 89.720 on Tuesday, which if it continues, would mark a second straight winning session for the index, which fell 1.4% last week.
  • By Sue Chang, MarketWatch, Ryan Vlastelica. Walmart sees biggest one-day decline in three decades. U.S. stocks snapped a six-day winning streak Tuesday, with the Dow and S&P 500 weighed down by a steep loss for Walmart as investors also watched climbing bond yields, which could make equities less attractive at current levels.
  • SegWit software update a welcome change for bitcoin community. In an attempt to tackle expensive bitcoin transaction fees and slow processing times, two leading cryptocurrency exchanges, Coinbase and Bitfinex, announced Tuesday they have rolled out a software update that they hope will address mounting concerns. The update, called Segregated Witness, is a soft-fork software update that alters the transaction process of the cryptocurrency bitcoin by increasing...
  • The Dow Jones Industrial Average finished Tuesday sharply lower, weighed by a historic pullback in shares of Walmart Inc. Walmart's shares finished the session down about 10.2%, or $10.67, at $94.11, marking the retailing giant's worst daily point decline in history, but its worst percentage drop since January 1988, according to FactSet data. That decline weighed mightily on the Dow, exacting a more than 70- point toll. A $1 swing in any one of the Dow's 30 components equating to a...
  • Shares of Walmart Inc. on Tuesday got walloped, with the retailing giant notching its worst dollar decline of all time, according to FactSet data. The world's largest retailer was under heavy selling pressure, down 10.2%, or $10.67, after it said online sales growth slowed during the fourth quarter That marks a turn from three quarters of strong online growth, for the Bentonville, Ark.-based company as it attempts to wage war against rival and retailing behemoth Amazon.com Inc..
  • Better global outlook and drop in policy uncertainty around the world were the main factors behind the increase. The stock market's gain since the 2016 presidential election lacked a characteristic common in classic stock bubbles, according to a new study by prominent economist Olivier Blanchard. In a paper released by the Peterson Institute for International Economics, Blanchard, the former chief economist at the International Monetary Fund, said a general improvement in...
  • The Treasury Department sold $151 billion of bills and $28 billion of 2- year notes on Tuesday. Treasury yields climbed Tuesday, as U.S. investors returned from a three-day weekend and dealt with the first wave of auctions from the Treasury Department. The two-year note yield, sensitive to expectations for monetary policy, advanced 3.4 basis points to 2.227%, its highest since September 2008. That yield last week marked its largest weekly increase since March, and is up for the...
  • A federal judge on Tuesday denied AT&T Inc's (T.NaE) request to see White House communications that might shed light on whether U.S. President Donald Trump pressured the Department of Justice to try to block the wireless carrier's purchase of Time Warner Inc (TWX.NaE) . The decision is a potential setback to AT&T's (T.NaE) plan to argue in an upcoming trial that the Justice Department's decision to oppose t...
  • Morgan Stanley sees upside of less than 1% by year-end. Recent trading activity on Wall Street, which resulted in the strongest week for the major indexes in years, no doubt has some investors breathing a sigh of relief. However, while stocks have recovered some of the ground they lost in a correction earlier this month, it may be too soon to get too excited about where the market will go over the rest of the year.
  • The Dow Jones Industrial Average late Tuesday was trading near session lows and set for its sharpest one-day drop since Feb. 8, when the benchhmark unraveled by more than 1,000 points. At its low, the Dow was off about 335 points, or 1.3%, at 24,884.19, but was most recently off 260 points at 24,962. The blue-chip gauge has been under pressure throughout the session on the back of weakness in shares of Walmart Inc. after the retailing giant reported fourth-quarter results that showed...
  • The U.S. oil benchmark ended higher Tuesday, buoyed in part by pipeline concerns. West Texas Intermediate crude futures for April delivery on the New York Mercantile Exchange rose 24 cents, or 0.4%, to $61.79 a barrel. Analysts said capacity restrictions on the Keystone pipeline were a factor in boosting WTI.
  • By William Watts, MarketWatch, Neanda Salvaterra. OPEC leader wants more investment as the market starts to rebalance after years of oversupply. Oil futures posted a mixed finish Tuesday, with the U.S. benchmark gaining ground on its global counterpart thanks to Canadian pipeline problems.
  • We could be heading for a' tricky handoff' in the second quarter. That bumpy patch earlier this month--the one where the Dow industrials, S&P 500 and Nasdaq Composite Index all closed about 10% below their recent peaks--was merely an "appetizer" for the investor pain that lies ahead, according to a Morgan Stanley note this week. Andrew Sheets, the chief cross-asset strategist behind the analysis, said the "main course" has yet to come as developed markets "remain in the late stages of a...
  • A Virginia state court judge on Tuesday rejected a request by the U.S. unit of Volkswagen AG to delay several of the company's trials over excess emissions because it fears "inflammatory" comments made by a lawyer representing car owners in a TV documentary will prejudice the jury.
  • A federal judge on Tuesday denied AT&T Inc's (T.NaE) request to see White House communications that might shed light on whether U.S. President Donald Trump pressured the Department of Justice to try to block the wireless carrier's purchase of Time Warner Inc. The decision is a potential setback to AT&T's (T.NaE) plan to argue in an upcoming trial that the Justice Department's decision to oppose the acquisition...
  • By Barbara Kollmeyer and Mark DeCambre, MarketWatch. Silver sheds 27.4 cents to $16.438/ oz. Gold prices were clobbered on Tuesday, with the commodity booking its sharpest daily decline in more than a year, against a backdrop of a strengthening dollar and stabilizing equities.
  • Wanting to do a deal isn't the same as needing to do one. Broadcom (AVGO.NaE) at this point should remember the benefits of being in the former position. The long weekend brought more twists and turns to the chip maker's effort to acquire Qualcomm.
  • Over the last six months, Walmart was richly rewarded by shareholders for its apparent success at competing head- to-head with Amazon.com. On Tuesday, it showed signs of falling behind. After three quarters of at least 50% e-commerce sales growth, Walmart reported that e-commerce revenue in the fourth quarter grew just 23%.
  • * This week's debt sales to raise $48 bln in new cash for Treasury. * Analysts cautious about five-year, seven-year note auctions. * Five-year yield near 8-yr peak, 7-year yield highest since 2011. By Richard Leong.
  • Singer on cryptos:' It is perhaps the outer limit, the ultimate expression, of the ability of humans to seize upon ether and hope to ride it to the stars'. Outspoken hedge-fund manager Paul Singer offered perhaps his most withering assessment of cryptocurrencies to date, denouncing the technology and describing it as worse than a fraud. "When the history is written, cryptocurrencies will likely be described as one of the most brilliant scams in history," Singer said in a letter to...
  • 1987 might be an analogue to today's market environment. Investors are finally coming around to the idea that the Federal Reserve will tighten monetary policy faster than previously expected. That's what Scott Minerd, chief investment officer for Guggenheim Partners and one of the most-respected bond fund managers on Wall Street, said, in a Tuesday note, is likely to spoil the party for the stock market and other assets perceived as risky.
  • Pound driven back above $1.40, rises vs. euro. Blue-chip stocks in the U.K. ended Tuesday's session with a minor loss, as investors sold shares of London-listed heavyweights HSBC PLC and BHP Billiton PLC after disappointing financial updates from the bank and the miner. That made for a lackluster ending for the London's top-flight benchmark as investors in other global equity markets returned from holidays.
  • Euro falls on report European lawmakers are ready to break with EU negotiators' position on Brexit. European stocks closed higher Tuesday, aided by a pullback in the euro on news of a potentially favorable development for the U.K. in its Brexit negotiations with the European Union. But stocks did struggle during the session, with heavyweights HSBC PLC and BHP Billiton PLC issuing downbeat financial results as investors returned to the markets after holidays in the U.S. and Asia.
  • Big hotel chains have done a good job of fending off threats from the tech industry so far, but the fight is getting more expensive. The shares of InterContinental Hotels (IHG.NaE), owner of the Holiday Inn and Crowne Plaza brands, slipped Tuesday about 3% in London after new Chief Executive Keith Barr said the company wouldn't return spare cash to shareholders this year. It needs the money for an overhaul of its reservation system, the acquisition of "one or two" luxury hotel brands, the launch of...
  • Stefan Quandt has become BMW's largest single shareholder, giving him a big enough stake to block any potential takeover of the Bavarian carmaker, a regulatory filing showed on Tuesday. The 51-year-old German entrepreneur's direct ownership increased with shares inherited from his mother, giving him a so-called "blocking stake" of 25.83 percent, worth 13.4 billion euros.
  • Hougan sees similarities between the early ETF industry and the crypto industry today. There is no currently exchange-traded fund tracking major cryptocurrencies, but the crypto industry has started to pull talent from the ETF world. Matt Hougan, formerly the chief executive officer of Inside ETFs, is joining Bitwise Asset Management as its vice president of research and development, according to a Tuesday news release.
  • A downturn in shares of Walmart Inc. on Tuesday was weighing on consumer staples, and a popular exchange-traded fund that tracks the sector. The Consumer Staples Select Sector SPDR ETF (XLP.NaE) was off 1.9% in early trade, with one of the biggest weights on the fund derived from the more than 9% drop in shares of Walmart Inc.. Other consumer-staples names were driven, including Kroger Co. (KR.NaE), off 3.6% and shares of Costco Wholesale Corp., down 1.4%.
  • Injection of trillions needed by 2040 as demand grows, says UAE's Suhail bin Mohammed al-Mazroui. The oil industry collectively needs at least $10 trillion in fresh investment by 2040 to ensure there is enough supply to meet demand from the world's growing population, the president of OPEC said. Speaking in London on Tuesday, UAE Energy Minister Suhail bin Mohammed al-Mazroui-- who holds the presidency of the Organization of Petroleum Exporting Countries in 2018-- called for the...
  • - Fiat Chrysler Automobiles NV Chief Executive Officer Sergio Marchionne received about 9.7 million euros in pay and benefits for 2017, the automaker said on Tuesday. Marchionne had received 9.91 million euros in 2016. The CEO's salary in 2017 was 3.5 million euros and he received a bonus of 6.1 million euros.
  • South Korea is among world's busiest nations for trading in digital currencies, accounting for some 20% of activity. A 52- year-old South Korean official who helped spearhead that country's regulatory crackdown on cryptocurrencies was found dead in his home on Sunday, according to local media and the Wall Street Journal. Jung Ki-joon led economic policy at the Office for Government Policy Coordination.
  • Britain's financial sector will be "the servant of industry not the masters of all" if the opposition Labour Party gets into power, its leader Jeremy Corbyn said on Tuesday, accusing bankers of taking the economy hostage.
  • British lawmakers on Tuesday published in full a confidential report detailing Royal Bank of Scotland's (RBS.NaE) mistreatment of struggling businesses during and after the financial crisis. "The findings in the report are disgraceful," Nicky Morgan, chair of the cross-party Treasury Select Committee, said.
  • HSBC (HSBC.NaE) marked its handover of power with a moment of silence. The U.K.-based lender said nothing about its plans for strategy or share buybacks at its results Tuesday, disappointing investors, who sent the stock down as much as 4.5%. Departing Chief Executive Stuart Gulliver resisted any temptation to give shareholders a parting gift, while his replacement, John Flint, wouldn't offer the faintest teaser for the new leadership's strategic program.
  • U.S. stock benchmarks drifted lower at the open on Tuesday, with investors finding few reasons to keep pushing shares higher following a six-session rally that gave indexes their biggest one-week percentage gain in years. The Dow Jones Industrial Average was off 90 points, or 0.3%, at 25,142, the S&P 500 index was off 0.2% at 2,727. The Nasdaq Composite Index, meanwhile, was off 0.2% at 7,227. Wall Street investors are watching a rising dollar and climbing bond yields, both of which...
  • A sharp drop in Walmart shares weighed heavily on the Dow and the S&P 500 on Tuesday to put a six-session winning streak in jeopardy, but gains in Amazon and technology stocks helped lift the Nasdaq. Walmart , the world's biggest brick-and-mortar retailer, reported a lower-than-expected profit and posted a sharp drop in online sales growth during the holiday period.
  • Cryptocurrency prices were mixed Tuesday, with the No. 1 digital currency in the green, reaching its highest level since Jan. 28.. The torrid start to the year for crypto investors is slowly abating, with bitcoin rising to an intraday high of$ 11,645.12, according to news and research site CoinDesk. The recovery has bitcoin on track to record its sixth daily gain in the last seven sessions.
  • By Mark DeCambre and Francine McKenna, MarketWatch. Cboe says whistleblower letter is filled with' inaccurate statements'. One of the most popular measures of volatility is being manipulated, charges one individual who submitted a letter anonymously to the Securities and Exchange Commission and the Commodity Futures Trading Commission.
  • By Michael R. Gordon, Timothy Puko and Summer Said. Lawmakers are likely to bristle at kingdom's refusal to accept enrichment and reprocessing curbs. The Trump administration is pursuing a deal to sell nuclear reactors to Saudi Arabia despite the kingdom's refusal to accept the most stringent restrictions against the proliferation of nuclear weapons, U.S. officials say.
  • Every sector, investment strategy and market-capitalization size category of stocks rises when rates rise: analyst. Is one of the biggest headwinds facing markets actually something investors should be embracing? The recent turmoil in the U.S. stock market--highlighted by the Dow Jones Industrial Average and S&P 500 index dropping into correction territory--was sparked by data that showed wages rising at their fastest pace in years.
  • - Land Securities (LSGOF.NaE) , the developer for Deutsche Bank's new UK headquarters, said on Tuesday it had secured a revised planning permission for the proposed development in the heart of London's City financial district.
  • Asian stocks fell Tuesday, as indexes gave up some early-week gains amid reduced holiday trading and a move lower globally for stocks. Japan's Nikkei closed 1% down, giving up some of its early-week rise thanks to the weakness of its electronics and banking sectors. The selling in stocks comes despite a slip in the yen versus the dollar, with the greenback up 0.5% at Yen107.1580.
  • The selling may not be over, but that doesn't mean a recession or bear market is around the corner. Moreso than usual, U.S. stock-market investors are likely wonder what's going to happen next. Wall Street is coming off its biggest weekly percentage gain in years, a rally that followed major indexes falling into correction territory, defined as a 10% drop from a recent peak.
  • Walmart Inc , the world's biggest retailer, on Tuesday posted a sharp drop in profit and online sales growth during the critical holiday period and forecast annual profit at the lower end of expectations.
  • - U.S. grocer Albertsons Cos Inc said it would buy drug store chain Rite Aid Corp (RAD.NaE) to create a company with $83 billion in annual revenue, giving it more clout to compete with bigger chains in an industry fearing the entry of Amazon.Com . The deal is the latest in a wave of consolidation in the drug retailing sector, which is looking to cut costs amid weak reimbursement rates and...
  • The Dow and S&P 500 fell on Tuesday to snap a six-session winning streak as a sharp decline in Walmart weighed heavily, but gains in Amazon and chip stocks helped the Nasdaq hold near the unchanged mark. Walmart , the world's biggest brick-and-mortar retailer, reported a lower-than-expected profit and posted a sharp drop in online sales growth during the holiday period.
  • - Home Depot Inc's (HD.NaE) profit and revenue beat market estimates for the sixth straight quarter as more shoppers visited the No.1 U.S. home improvement chain and, on an average, spent more in an improving housing market. Shares of the company, which raised its quarterly dividend by 15.7 percent to $1.03 per share, were up 2.6 percent in premarket trading.
  • * Qatar Airways may shift demand to A350-1000 from sister model. * Largest member of A350 family delivered to biggest customer. * Airbus favours existing models, no plans to add bigger version. By Alexander Cornwell.
  • - U.S. semiconductor company Qualcomm Inc (QCOM.NaE) on Tuesday unveiled a sweetened $44 billion agreement to acquire NXP Semiconductors NV (NXPI.NaE) , its most defiant move in its defense against a hostile $121 billion bid from Broadcom Ltd (AVGO.NaE) . The new deal puts pressure on Broadcom (AVGO.NaE) to decide if it will stick with a stipulation in its bid that Qualcomm (QCOM.NaE) does not raise its offer for NXP.
  • Retail behemoth Walmart Inc on Tuesday reported a lower-than-expected quarterly profit and posted a sharp drop in online sales growth during the critical holiday period, sending its shares slumping more than 6 percent in premarket trade.
  • Airbus got a boost for its largest twin-engined jet on Tuesday when Qatar Airways said it was considering upgrading some of its A350 orders to the largest model as it took delivery of the first such plane. The A350-1000 is designed to seat 366 people and competes head-to-head with Boeing's profitable 777.
  • In packing for the Winter Olympics, Canadian entrepreneur Domenico Ciarallo stuffed his bags with hats and t-shirts bearing the logo of his company, which makes locker-room dryers. Once on the ground, though, he is wary when handing them out to any Olympians even if he sponsors them.