Markets


BoE governor warns of delayed Brexit impact from falling pound
- January 18, 2017

The Bank of England governor said that households had overlooked the "less sanguine assessment of financial markets" and continued to spend strongly post the referendum. Sterling has fallen 19% against the USA dollar since the June referendum and on Monday (16 January) it hit $1.1983, the lowest level since last October's flash crash. (more...)
Oil up on Saudi commitment to cut, USA output seen rising
- January 17, 2017

OIL prices edged up on Friday, supported by reports on details of Opec output cuts, although lingering doubts over producer compliance with supply reduction targets weighed on the market. "The market is focused on the build in US production which is almost up to 9 million bpd - up from 8.5 million bpd last June and close to 2014 production levels", said Michael McCarthy, chief market strategist at Sydney's CMC Markets. (more...)
Reliance Industries Q3 profit rises 3.6% on healthy gross refining margins Reliance Industries Q3 profit rises 3.6% on healthy gross refining margins
- January 17, 2017

The growth across all consumption baskets led the company's revenue for third quarter to grow by 47% year-on-year to Rs 8,688 crore from Rs 5,901 crore. Reliance Market maintained its wholesale "cash and carry" leadership with 40 operational stores and over 2.5 million registered member partners, it said. (more...)
GM outlines plan to invest $1 billion in US
- January 17, 2017

As reported by Automotive News , a General Motors spokesman revealed that the company would be making its official declaration regarding a $1 billion investment into US plants this coming Tuesday morning, January 17, 2017. While Ford has been Mr. Trump's most frequent target since early in his campaign, GM, which was bailed out by the federal government in 2009, is seen as more vulnerable to criticism on trade and jobs, analysts say. (more...)
Iowans concerned about Hy-Vee food stamps Iowans concerned about Hy-Vee food stamps
- January 17, 2017

SNAP online ordering will follow the same rules as traditional, in-store purchasing in that participants will only be able to use their food stamps to purchase eligible items like breads, fruits, vegetables, meats, fish, poultry, dairy products and other produce. (more...)
Tiffany reports on holiday sales
- January 17, 2017

Security barricades, protesters and a perpetual media encampment in and around Trump Tower since the election tarnished sales at Tiffany , the posh jeweler whose flagship store is just steps from the president-elect's front door. The luxury jeweler said worldwide net sales rose 0.5% to $966 million from a year ago, while comparable-store sales were down 2% globally. "These overall holiday period sales were somewhat lower than we had anticipated, but we continue to benefit from a favorable ... (more...)
Protests & 'gay dance party' planned to sabotage Trump inauguration
- January 17, 2017

President-elect Donald Trump at Trump Tower after a meeting with Steve Harvey. The next-lowest performer on this measure was George W. Bush in 2001, and his favorability rating was 16 points higher than Trump's now is. Approval for President George W. Bush in January 2001 was 61 percent, with 25 percent disapproving. The venue we have for entertainment is filled out, it's flawless, it's going to be typically and traditionally American , and Kanye is a great guy but we just haven't asked ... (more...)
Woah! 8 Richest Men Hold Half Of World's Wealth Woah! 8 Richest Men Hold Half Of World's Wealth
- January 17, 2017

In 2015, it took 80 individuals. Oxfam based its calculations on data from Swiss bank Credit Suisse's 2016 Global Wealth report and Forbes' billionaires list of the world's richest billionaires . This is enough money to provide education for 124 million children worldwide who aren't now in school. Additionally, the system self-perpetuates. Wealth distribution had become less equal in Australia because asset price booms had combined with capital gains, superannuation concessions and ... (more...)
Here's How Donald Trump Just Sent the US Dollar Diving Here's How Donald Trump Just Sent the US Dollar Diving
- January 17, 2017

The dollar index.DXY fell by 0.7 percent to a near six-week low of 100.46 after Trump told the Wall Street Journal that the strength of the currency was hurting competitiveness of US companies. The yen hit a six-week high of 112.70 against the US currency as investors sought shelter. Wal-Mart (WMT.N) rose 2.5 percent and gave the biggest boost to the Dow after the retailer said it would create 10,000 jobs in the United States this year. (more...)
UnitedHealth Group Incorporated (UNH) Issues Earnings Results, Beats Estimates By $0.04 EPS UnitedHealth Group Incorporated (UNH) Issues Earnings Results, Beats Estimates By $0.04 EPS
- January 17, 2017

The healthcare conglomerate reported $2.11 EPS for the quarter, beating analysts' consensus estimates of $2.07 by $0.04. Twenty-two investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. (more...)
Rio hits full-year iron ore target Rio hits full-year iron ore target
- January 17, 2017

Rio also reported that no copper was delivered under its 40 percent share of mined material at the Freeport-McMoRan-owned Grasberg mine in eastern Papua province, Indonesia, for the fourth-quarter, as the production threshold was not exceeded. (more...)
Exxon to buy companies doubling Permian Basin resource to 6B barrels
- January 17, 2017

The stock was sold at an average price of $87.42, for a total transaction of $957,423.84. The last close places the company's stock about $9.2 off its 52 week high of $95.55 and $14.8 above the 52 week low of $71.55. Its return on assets (ROA) is 0.40% while return on investment (ROI) is 2.00%. While looking at the Stock's Performance, Exxon Mobil Corporation now shows a Weekly Performance of -2.43%, where Monthly Performance is -6.73%, Quarterly performance is 0.64%, 6 Months performance ... (more...)
Wells Fargo to close 400 branches
- January 17, 2017

Current stock price is in the upbeat territory taking into account of 20 days moving average with 5.26% and continued bullish run for 50 days moving average with 7.58%. Cable Hill Partners LLC raised its position in Wells Fargo & Company by 10.5% in the third quarter. Number of analysts are eying on this stock, and after detailed observation, they have given the stock mean target price of $73.25 while their mean recommendation is 3.20 (1=Buy, 5=sell). (more...)
Morgan Stanley Beats Estimates as Fixed-Income Trading Triples Morgan Stanley Beats Estimates as Fixed-Income Trading Triples
- January 17, 2017

In related news, insider Eric F. Grossman sold 220,400 shares of the company's stock in a transaction on Friday, October 21st. Moreover, the revenue from the bond business has more than doubled to $1.47 billion, exceeding the analysts' estimates of $1 billion and the largest increase among banks that have already reported results. (more...)
Walmart outlines 2017 goals for American job growth and community investment Walmart outlines 2017 goals for American job growth and community investment
- January 17, 2017

The company operates more than 80 stores across the Garden State. Meanwhile, employment growth has come from online stores such as Amazon, which announced last week it would add USA 100,000 jobs. The billionaire businessman has stressed via tweets and public statements his preference for US firms to boost investment and create more jobs in the USA, rather than set up shop in cheaper locales around the globe. (more...)
Hyundai Motors announce $3bn U.S. investment
- January 17, 2017

The statement comes as auto makers face pressure from the incoming US administration to manufacture more vehicles in the U.S. The group is considering building a new factory in the US and may produce Hyundai Motor's upscale Genesis vehicles in the country, said the executive, who also oversees the strategic planning for Kia. (more...)
The Acacia Mining PLC (ACA) Receives Consensus Rating of The Acacia Mining PLC (ACA) Receives Consensus Rating of "Hold" from Brokerages
- January 17, 2017

A number of other equities research analysts also recently weighed in on ACA. Numis Securities Ltd reaffirmed an "add" rating on shares of Acacia Mining PLC in a report on Monday, October 24th. Acacia, which mines the precious metal in Tanzania, jumped as much as 7.7 percent to the highest since November 21. On January 12, 2017, Acacia's market value was $2.1 billion while Endeavour's was $1.66 billion. (more...)
India's 58 % wealth owned by one per cent rich: Oxfam India's 58 % wealth owned by one per cent rich: Oxfam
- January 17, 2017

The Oxfam research also shows that just eight people worldwide own the same wealth as the 3.6 billion people who make up the poorest half of humanity. The charity said if the information had been available when it carried out research a year ago, its report would have found that nine billionaires owned the same wealth as the poorest half of the planet instead of 62. (more...)
British inflation jumps to 1
- January 17, 2017

Inflation has spiked to 1.6 per cent fuelled by rising food, petrol prices and air fares. Prices at the pump were affected by oil production cuts announced by the Opec cartel in November, with wholesale oil up from 49.09 U.S. "Indeed, we forecast inflation to rise to three per cent in 2017 which is expected to plunge real earnings into reverse by late summer". Sterling weakness was a factor in rising food prices, but was not the sole contributor to the jump, the ONS said. (more...)
Barratt Developments Plc (BDEV) Rating Reiterated by Beaufort Securities
- January 17, 2017

Intermediate Capital Group plc (LON:ICP) had its target price boosted by J P Morgan Chase & Co from GBX 775 ($9.35) to GBX 830 ($10.01) in a report released on Tuesday. If you are accessing this article on another website, it was copied illegally and reposted in violation of US and worldwide copyright & trademark laws. (more...)

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