Bloomberg The dollar extended its gains in the wake of better-than-expected US jobs data, while the euro also rose following its slump on Friday. Crude dropped as major producers gathered to discuss participation in output cuts. The greenback initially struggled to maintain its positive momentum against G-10 peers, before gradually strengthening as US stock futures also edged higher. European equities ...
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Dow tops 22,000 as Apple rallies, euro strengthens
Bloomberg The Dow Jones Industrial Average rose past 22,000 for the first time as Apple Inc. pushed to a record, while renewed strength in the euro dragged down European equities. Oil fluctuated after retreating from its brief rise above $50 a barrel. The Nasdaq 100 Index jumped as Apple’s market cap rose above $800 billion after its sales forecast revived ...
Read More »Crude oil below $52 hits Saudi petchem industry
DUBAI / Reuters Stock markets in the Gulf were mixed on Wednesday, with Saudi Arabia dragged down by a drop in crude oil prices while blue chips led gains the United Arab Emirates and Qatar higher. Brent crude futures lost 1.7 percent on Tuesday and traded below $52 a barrel for most of Wednesday. Consequently, 11 of the 14 petrochemical ...
Read More »Global stocks gain as corporate earnings roll in; dollar steadies
Bloomberg Global stocks advanced following the latest set of corporate results, with European shares tracking a jump in Asian peers on both earnings and promising economic data. The US dollar stayed higher as consumer spending figures matched forecasts. The Stoxx Europe 600 Index was once again poised to end its losing streak, heading for the first gain in four days ...
Read More »Stocks advance as growth optimism boosts metals
Bloomberg European stocks headed for the first gain in three days, spurred by raw-material producers on optimism the global economy is gathering momentum. The dollar gained, paring its worst monthly decline since January. S&P 500 Index futures edged higher after Anglo American Plc, Glencore Plc and Rio Tinto Plc helped underpin an advance in the Stoxx Europe 600 gauge. Miners ...
Read More »US stocks lifted by earnings, commodities; bonds gain
Bloomberg US stocks extended all-time highs as corporate earnings bolstered optimism about the strength of the global economy, lifting commodities. Bonds bounced as investors waited for clues on the fate of the Federal Reserve balance sheet. The S&P 500 Index advanced as results lifted stocks from AT&T Inc. to Boeing Co. Asian and European benchmark equity indexes rose, while crude ...
Read More »Region stocks mixed in narrow trade, no big boost from oil rebound
DUBAI / Reuters Major Middle Eastern stocks markets were mixed in narrow ranges on Wednesday as caution over companies’ upcoming second-quarter earnings announcements outweighed the positive effect of a rebound in oil prices. Brent crude futures rose 40 cents to $50.60 a barrel by the afternoon after rallying more than 3 percent on Tuesday. But many investors are preoccupied with ...
Read More »Stocks climb on earnings, bonds drop as Fed meets
Bloomberg A bevy of corporate earnings pulled US stocks higher, while European equities climbed on rising confidence among German businesses. Treasuries retreated with the dollar as the Federal Reserve began its policy meeting. Earnings from Caterpillar Inc. and McDonald’s Corp. led to outsize gains in the Dow Jones Industrial Average, while Alphabet Inc.’s disappointing results weighed on technology indexes. Banks ...
Read More »Euro heads for decline as carmakers weigh on stocks
Bloomberg The euro headed for its first decline in three days as data showed the region’s economy cooling at the start of a week packed with corporate results and a Federal Reserve rate decision. Stocks were dragged down for a second day by carmakers amid a collusion probe. The common currency halted the advance that saw it hit a two-year ...
Read More »China ‘overrated’ bonds may challenge foreign rating firms
Bloomberg China has finally opened up its credit-rating market. But foreign credit assessors aren’t likely to waltz in, local money managers say. The challenge for rating companies, which generally charge issuers for scoring them, will be to win business from borrowers used to getting high grades from local assessors. That’s key after Sunday, which marked the day by which China ...
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