Stocks

Bloomberg Oil traded near $65 a barrel as an industry report showing a drop in American crude stockpiles countered fears about a potential OPEC supply boost. Futures in New York fell 0.7 percent, following a 1.2 percent advance on Tuesday. The American Petroleum Institute was said to report nationwide crude inventories declined by over 2 million barrels last week. Meanwhile, …

Bloomberg The global rally in risk assets that sent US stocks to a 12-week high sputtered on Tuesday, with the S&P 500 struggling to push higher. Treasuries rose while Italian bonds fell. Contracts for the S&P 500 had signalled the underlying gauge would extend gains following its highest finish since mid-March, but momentum faded as the open neared. After a …

Bloomberg Crude declined after the US government was said to have asked Saudi Arabia and other OPEC producers to raise oil supply. The request for a 1 million-barrel-a-day increase follows Washington’s decision to re-impose sanctions on Iranian crude exports that had removed roughly the same amount from global markets when restrictions were previously in place earlier this decade. OPEC pumped …

Bloomberg US and European stocks advanced on Monday, tracking peers in Asia as optimism over the world’s largest economy helped investors put protectionist fears to one side. Treasuries were steady, the dollar fell, and the pound and euro rose. The Standard & Poor’s 500 and Nasdaq Composite Indexes opened higher after Microsoft Corp. agreed to buy coding site GitHub for …

Bloomberg India’s two-year-old bankruptcy law, which gives creditors more power to restructure troubled companies, is luring more and more offshore investors from as far as Canada to buy the nation’s bad debt. Caisse de dépôt et placement du Québec, a Canadian pension fund manager, has made $600 million available to Edelweiss Group for investment in local distressed assets, according to …

Bloomberg Beset with political drama in Italy, trade angst in China, a surging dollar, a plummeting Treasury yield and weakening economic data in Europe, equity investors in the US still managed to muddle through. In fact, as far as Mays go, this was a good one, the best for the S&P 500 Index since the bull market began. The benchmark …

Bloomberg So much for the backlash against initial coin offerings. Sales of digital tokens by technology companies this year have already surpassed the record amount raised in all of 2017 even as government officials from China to the US clamp down on offerings and incidents of fraud continue. Block.one, a Cayman Islands-based startup that’s behind the EOS token, is on …

Bloomberg Stocks rose along with Treasury yields as investors deemed the market reaction to Italy’s political turmoil overwrought. The dollar slipped and oil rose. The S&P 500 Index headed for the first gain in four days as US 10-year yields pushed above 2.84 percent, boosting financial shares that had sold off on Tuesday as worries about Italy leaving the euro …

Bloomberg Traders in China are unwinding positions in Tencent Holdings Ltd. faster than ever, turning to other targets amid a lack of reasons to push Asia’s biggest stock any higher. Mainland investors sold a net $81 million worth of shares in the Chinese Internet giant through trading links with Hong Kong on Tuesday, according to exchange data. That’s the 12th …

Bloomberg Stocks declined, while Treasuries and the dollar rallied as the escalating political crisis in Italy engulfed markets. The S&P 500 Index dropped for a third session, following the biggest decline since March in the Stoxx Europe 600 Index, as Italian political turmoil lead to gridlock and set the course for another election. The flight from risk began in Italy’s …