Markets


Oil prices rise as report highlights fall in U.S. fuel inventories
- October 14, 2016

Supplies at Cushing, Oklahoma, rose by 400,000 barrels - a staggering four times more than the 100,000-barrel increase that analysts had anticipated would be announced today. The global benchmark crude traded at a $1.53 premium to WTI for December delivery. Eighteen of 32, or 56 percent, of analysts, traders and brokers surveyed by Bloomberg Thursday were bearish on WTI. (more...)
Trump vs. GOP: Turn out the lights, the Republican Party is over
- October 14, 2016

The White House said on Tuesday that Trump's remarks about groping women in the video amounted to sexual assault. "Therefore you have an unheard of number looking to their own election prospects and feeling they are better served by not supporting him". (more...)
Smart Money Increases Stake in Freeport-McMoRan (FCX, APC) Smart Money Increases Stake in Freeport-McMoRan (FCX, APC)
- October 14, 2016

Macquarie Research downgraded Freeport-McMoRan Inc (NYSE: FCX ) rating on Friday, January 8. US based company, Freeport-McMoRan Inc.'s (FCX)'s latest closing price was 0.17% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -10.72% and -4.79% compared with the 20 Day Moving Average. (more...)
Goldman Sachs is ready to lend you money Goldman Sachs is ready to lend you money
- October 14, 2016

There have been months of speculation about how the company would design its consumer lending product. Goldman says its first mailing will target people with credit-card debt and 700 to 740 FICO scores, a higher minimum than most platforms advertise-though many online lenders have recently shifted to concentrate more heavily on these "prime" borrowers. (more...)
Wells Fargo's Earnings Beat Estimates as Mortgage Loans Surge
- October 14, 2016

Stumpf had been at Wells Fargo for 34 years, rising from the ranks including stints leading various regions for the bank. Wells Fargo & Co. had been well-known in the banking industry for its ability to sell customers multiple products, such as a new account, a mortgage, a retirement account, or even online banking. (more...)
Southwest Airlines announces start of $59 ticket sales from Tampa to Havana Southwest Airlines announces start of $59 ticket sales from Tampa to Havana
- October 14, 2016

With the thaw in U.S. "Last year, when the rule changes for travel to Cuba opened up a historic opportunity, we jumped on it", said Jeff Klee, CEO of CheapAir.com. Tampa is one of the 10 cities that have been given approval to offer flights to the island nation. "This was something really important to this region", said St. (more...)
I'm so glad to win Nobel, says Holmstrom
- October 14, 2016

Holmstrom told reporters by telephone that he felt grateful for the award. Oliver Hart is now the Andrew E. Furer Professor of Economics at Harvard University, where he has taught since 1993 . The 68-year-old is an expert on contract theory, theory of the firm, corporate finance, law and economics. Hart and Holmstrom will split the prize of 8 million kronor, or $924,000. (more...)
John Stumpf exits Wells Fargo after account scandal John Stumpf exits Wells Fargo after account scandal
- October 14, 2016

Democratic Senator Elizabeth Warren, who accused Stumpf of " gutless leadership " during a Senate hearing last month, called for a criminal investigation to be launched into the banker. Wells Fargo declined to comment on Wednesday on Sen. A person familiar with the matter said that Stumpf made the decision to retire, which was welcomed by the board. (more...)
Nats' season ends with bad decisions in NLDS Game 5 loss Nats' season ends with bad decisions in NLDS Game 5 loss
- October 14, 2016

As for the Dodgers' own bullpen , the relief parade started in the third inning, leading to the arrival of closer Kenley Jansen in the seventh inning, when the Nationals had momentum and the top of the order was coming to the plate. His lefty got the Nats most risky hitter, Daniel Murphy , who had done so much damage to the Dodgers in the playoffs previous year, while he was still with the Mets, including two home runs off Kershaw. (more...)
Park near suspect parents' home searched in Fort Worth woman disappearance Park near suspect parents' home searched in Fort Worth woman disappearance
- October 14, 2016

Revill, an ex-boyfriend, was arrested Tuesday and charged in her kidnapping. Investigators on Thursday were searching the area of Sandy Lane Park in east Fort Worth, near the home where Revill lives, said officer Jimmy Pollozani, a police spokesman. (more...)
Asia stocks, dollar edge up on China inflation data relief Asia stocks, dollar edge up on China inflation data relief
- October 14, 2016

A gauge of the dollar fell from a seven-month high as an unexpected slump in Chinese exports undermined confidence in global growth. The dollar index (.DXY) was down 0.3 percent, making gold more affordable to buyers using other currencies. (more...)
Markets Right Now: US stocks move lower
- October 14, 2016

Bank of America fell 29 cents, or 1.8 percent, to $15.74 and Citigroup skidded 64 cents, or 1.3 percent, to $48.06. Basic materials makers also fell. The S&P 500 index is trading at 17 times forward earnings, compared with its 10-year median of 14.7, according to StarMine data. The Nasdaq composite lost 67 points, or 1.3 percent, to 5,172. (more...)
South Africa's finance minister to face fraud charge South Africa's finance minister to face fraud charge
- October 14, 2016

Several top officials of Mr. Zuma's ruling party, the African National Congress, immediately jumped to Mr. Gordhan's defence, calling him "honest" and "ethical". Economist Mike Schussler called the decision to charge Gordhan a "sad day for honest people". The news pushed the USA dollar USDZAR, +3.4351% up more than 3% against the rand, the most freely traded currency from the African continent. (more...)
Samsung begins refunding Note 7 owners in South Korea Samsung begins refunding Note 7 owners in South Korea
- October 14, 2016

The company said it expects to generate 5.2 trillion won (£3.7 billion) in operating profit during the third quarter after the recall cost. Analysts said most of the income will be generated by sales of advanced displays and semiconductors. (more...)
JPMorgan quarterly profit falls 7.6 percent but beats estimates
- October 14, 2016

He won't be receiving severance pay and the bank announced earlier that he will forfeit $41 million in stock awards. Stumpf, 63, who had been chief executive since 2007 and chairman of the board since 2010 has been replaced by Timothy J Sloan, 56, a long-time Wells Fargo executive who was named president of the company past year, who takes over immediately. (more...)
LeBron James, Tom Brady tackle Donald Trump questions differently LeBron James, Tom Brady tackle Donald Trump questions differently
- October 14, 2016

Trump has referred to the exchange between himself and Billy Bush as "locker room talk". Trump's defenders claim that such talk is common among men, especially in locker rooms. Patriots quarterback Tom Brady , who publicly displayed a "Make America Great Again" hat in his locker was asked his opinion of Trump's comments. Cleveland Cavaliers star LeBron James on Wednesday dismissed Donald TrumpDonald TrumpIs Team Clinton systematically gutting Trump before our eyes? "[Locker-room talk] ... (more...)
What are analysts Suggestions on: Comcast Corporation (NASDAQ:CMCSA)
- October 14, 2016

Other hedge funds also recently added to or reduced their stakes in the company. 3M Firm (NYSE:MMM) [ Trend Analysis ] increased reacts as active mover, shares an advance 0.02% to traded at $169.72 and the percentage gap among open changing to regular change was -0.05%. (more...)
This Kim Kardashian Robbery Costume Is So Tacky
- October 14, 2016

According to Hollywood Life , there's an insider saying that Kanye and Kim may not allow trick or treating to take place following Kardashian's robbery scare. "It's incredibly traumatic what happened to her, but our family is super close and great and we'll get through it together". While few found humor with the costume, most others described it as "trashy", "disgusting" and "deplorable". (more...)
Kellogg to Require Brazilian Food Maker in $430 Billion Deal Kellogg to Require Brazilian Food Maker in $430 Billion Deal
- October 14, 2016

Kellogg said it intends to reduce its planned share repurchases in 2016 to $450 million-$550 million, from its forecast of $700 million-750 million, to save cash. The group has two production facilities and five distribution centers in Brazil, Kellogg's release noted, and has a strong presence in high-frequency, small- to medium-sized retail stores in the country. (more...)
DP World connects to Hyperloop with USD multi-million Dolar investment DP World connects to Hyperloop with USD multi-million Dolar investment
- October 14, 2016

Hyperloop One's latest financing round was led by DP World Group of Dubai , the third largest ports operator in the world, which recently signed an agreement to explore moving containers from ships docked at the Port of Jebel Ali to a new inland container depot in Dubai through a Hyperloop tube. (more...)

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