Oil prices fall more than 2% after another big jump in US crude stockpiles

Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain. Oil prices sank on Wednesday after government data showed a large increase in U.S. crude stockpiles for the second week in a row and as the market continues to grapple with concerns about weakening fuel demand. Brent crude, the international benchmark for oil prices, was down $1.22, or 2%, at $61.07 around 12:10 p.m. Crude futures fell to a nearly five-month low last week after EIA figures showed crude sto


Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain. Oil prices sank on Wednesday after government data showed a large increase in U.S. crude stockpiles for the second week in a row and as the market continues to grapple with concerns about weakening fuel demand. Brent crude, the international benchmark for oil prices, was down $1.22, or 2%, at $61.07 around 12:10 p.m. Crude futures fell to a nearly five-month low last week after EIA figures showed crude sto
Oil prices fall more than 2% after another big jump in US crude stockpiles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: tom dichristopher
Keywords: news, cnbc, companies, stockpiles, big, fall, energy, fell, prices, jump, low, crude, million, growth, demand, oil, week


Oil prices fall more than 2% after another big jump in US crude stockpiles

Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain.

Oil prices sank on Wednesday after government data showed a large increase in U.S. crude stockpiles for the second week in a row and as the market continues to grapple with concerns about weakening fuel demand.

U.S. commercial crude inventories rose by 2.2 million barrels in the week through June 7, according to the U.S. Energy Information Administration. Analysts in a Reuters poll had expected stockpiles to fall by 481,000 barrels.

Brent crude, the international benchmark for oil prices, was down $1.22, or 2%, at $61.07 around 12:10 p.m. ET (1610 GMT). Brent hit a session low at $60.30 in early morning trading.

U.S. West Texas Intermediate crude futures fell $1.35, or 2.5%, to $51.92 per barrel. WTI fell as low as $51.46 earlier in the session.

Crude futures fell to a nearly five-month low last week after EIA figures showed crude stocks surged to the highest level since July 2017. Brent is now down 19% from its 2019 high in April, while WTI is trading 22% lower over the same period.

“At a minimum, these results are going to keep traders on the sidelines, or more likely, pressing crude until it stops going down,” Michael Bradley, equity strategist at energy investment bank Tudor, Pickering, Holt & Company, said in a research note.

Oil prices have been supported by expectations that OPEC and its allies will continue to prop up prices by limiting production, but buffeted by concerns that the U.S.-China trade war will weigh on global economic growth and fuel demand.

President Donald Trump on Tuesday said he is holding up negotiations until Beijing agrees to return to the terms of negotiations laid out earlier in trade talks.

“It is constant concern about the demand outlook because of what’s happening with the situation with China,” said John Kilduff, founding partner at energy hedge fund Again Capital.

Stocks and other assets have been bolstered by hopes that the U.S. Federal Reserve will cut interest rates and stimulate growth, but energy commodities need more evidence that economic activity will rebound, Kilduff added.

“Oil is reacting to the disease, while other assets are reacting to the cure more,” he said.

EIA on Tuesday cut its forecast for global oil demand growth to roughly 1.2 million barrels per day in 2019, down from last month’s projection of about 1.4 million bpd. OPEC and the International Energy Agency are scheduled to update their demand outlook on Thursday and Friday, respectively.

OPEC and other major producers are set to meet in the coming weeks to discuss their policy of withholding 1.2 million bpd from the market.


Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: tom dichristopher
Keywords: news, cnbc, companies, stockpiles, big, fall, energy, fell, prices, jump, low, crude, million, growth, demand, oil, week


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Shares in China jump on news of boost to infrastructure investment

Shares in mainland China surged on Tuesday, as a signal of an infrastructure boost from Beijing outweighed comments from U.S. President Donald Trump on the ongoing trade war between the two economic powerhouses. The Shanghai composite rose 2.58% to close at about 2,925.72 and the Shenzhen component jumped 3.74% to finish its trading day at 9,037.67. The CSI 300, which tracks the largest companies on the mainland, also gained 3.01% to close at approximately 3,719.28. Hong Kong-listed shares of Ch


Shares in mainland China surged on Tuesday, as a signal of an infrastructure boost from Beijing outweighed comments from U.S. President Donald Trump on the ongoing trade war between the two economic powerhouses. The Shanghai composite rose 2.58% to close at about 2,925.72 and the Shenzhen component jumped 3.74% to finish its trading day at 9,037.67. The CSI 300, which tracks the largest companies on the mainland, also gained 3.01% to close at approximately 3,719.28. Hong Kong-listed shares of Ch
Shares in China jump on news of boost to infrastructure investment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: eustance huang
Keywords: news, cnbc, companies, mainland, close, investment, shenzhen, boost, china, trading, shares, jump, rose, soared, infrastructure, index, local


Shares in China jump on news of boost to infrastructure investment

Shares in mainland China surged on Tuesday, as a signal of an infrastructure boost from Beijing outweighed comments from U.S. President Donald Trump on the ongoing trade war between the two economic powerhouses.

The Shanghai composite rose 2.58% to close at about 2,925.72 and the Shenzhen component jumped 3.74% to finish its trading day at 9,037.67. The Shenzhen component soared 3.708% to close at 1,538.23. The CSI 300, which tracks the largest companies on the mainland, also gained 3.01% to close at approximately 3,719.28.

The moves on the mainland came after state news agency Xinhua reported Monday that China would enable local governments to use special bonds to finance certain investment projects, citing a “notice on local government bonds.”

Over in Hong Kong, the Hang Seng index added 0.83%, as of its final hour of trading. Hong Kong-listed shares of China Construction Bank rose 1.43%.

Elsewhere, Japan’s Nikkei 225 close 0.33% higher to close at 21,204.28, while the Topix index added 0.54% to finish its trading day at 1,561.32. South Korea’s Kospi rose 0.59% to close at 2,111.81 as shares of LG Electronics soared 6.03%.

Over in Australia, shares traded higher after returning from a holiday. The ASX 200 advanced 1.59% to close at 6,546.30 as most sectors saw gains.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: eustance huang
Keywords: news, cnbc, companies, mainland, close, investment, shenzhen, boost, china, trading, shares, jump, rose, soared, infrastructure, index, local


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hertz shares jump after rental car company unveils subscription service starting at $999 a month

Hertz Global Holdings stock jumped more than 8% Tuesday after the car rental company announced a new vehicle-subscription service called Hertz My Car, which will launch as a pilot program in Atlanta and Austin, Texas. The monthly subscription service is an alternative to traditional vehicle ownership, which the company said has become less popular in urban areas. The pilot program will grant customers access to various automobiles through the two subscription tiers and allow them to exchange veh


Hertz Global Holdings stock jumped more than 8% Tuesday after the car rental company announced a new vehicle-subscription service called Hertz My Car, which will launch as a pilot program in Atlanta and Austin, Texas. The monthly subscription service is an alternative to traditional vehicle ownership, which the company said has become less popular in urban areas. The pilot program will grant customers access to various automobiles through the two subscription tiers and allow them to exchange veh
Hertz shares jump after rental car company unveils subscription service starting at $999 a month Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: emma newburger
Keywords: news, cnbc, companies, jump, subscription, vehicle, hertz, starting, service, unveils, shares, month, traditional, rental, pilot, company, program, stock, car


Hertz shares jump after rental car company unveils subscription service starting at $999 a month

Hertz Global Holdings stock jumped more than 8% Tuesday after the car rental company announced a new vehicle-subscription service called Hertz My Car, which will launch as a pilot program in Atlanta and Austin, Texas.

Hertz is up more than 5% over the past 12 months and more than 12% so far this year.

The monthly subscription service is an alternative to traditional vehicle ownership, which the company said has become less popular in urban areas. It will cost subscribers between $999 and $1,399 per month, depending on which vehicle package they choose.

The pilot program will grant customers access to various automobiles through the two subscription tiers and allow them to exchange vehicles twice a month for different models. The subscription will cover vehicle maintenance, roadside assistance, damage and limited liability protection, the company said.

Hertz said the service is part of a greater shift away from traditional vehicle ownership. The company shared a survey by Cox Automotive where roughly 40% of respondents said that while access to transportation is necessary, owning a vehicle is not.

“We feel well positioned to lead in vehicle subscription services,” said Jayesh Patel, Hertz Senior Vice President of Brand. “We’ve seen growth in our longer-term rentals in recent years which we believe is one of several positive indicators the time is right for this service.”

Hertz’s stock has fallen more than 20% since the beginning of March, when long-time investor Carl Icahn said he trimmed his stake in the company.

WATCH: Turo CEO on future of car sharing


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: emma newburger
Keywords: news, cnbc, companies, jump, subscription, vehicle, hertz, starting, service, unveils, shares, month, traditional, rental, pilot, company, program, stock, car


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Target shares jump 8% as e-commerce gains fuel earnings beat

Target shares jumped nearly 8% in premarket trading on the news. Sales at Target stores open for at least 12 months were up 4.8%, better than expected growth of 4.2%. Target said traffic at stores was up 4.3%, transactions overall were up 4.3% and the average transaction amount was up 0.5%. The company is one of many retailers today trying to take market share from struggling Victoria’s Secret. As of Tuesday’s market close, Target shares are up about 9% for the year, bringing its market cap to a


Target shares jumped nearly 8% in premarket trading on the news. Sales at Target stores open for at least 12 months were up 4.8%, better than expected growth of 4.2%. Target said traffic at stores was up 4.3%, transactions overall were up 4.3% and the average transaction amount was up 0.5%. The company is one of many retailers today trying to take market share from struggling Victoria’s Secret. As of Tuesday’s market close, Target shares are up about 9% for the year, bringing its market cap to a
Target shares jump 8% as e-commerce gains fuel earnings beat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: lauren thomas courtney reagan, lauren thomas, courtney reagan, sam meredith
Keywords: news, cnbc, companies, sales, 42, vs, traffic, fuel, billion, market, jump, earnings, share, ecommerce, beat, target, gains, stores, shares


Target shares jump 8% as e-commerce gains fuel earnings beat

Target shares soared Wednesday after the discount retailer reported fiscal first-quarter earnings and sales that topped analysts’ expectations, as it brought more people to its stores and convinced them to spend more money there.

Target’s e-commerce sales also surged 42%, as shoppers increasingly turned to its curbside pickup service for online orders, something Amazon can’t offer.

Even with the looming threat of 25% tariffs on apparel and footwear imported from China going into effect, Target maintained its outlook for the full year. The upbeat report contrasts those of department store chains earlier in the week, which largely disappointed investors.

Target shares jumped nearly 8% in premarket trading on the news.

Here’s what the big-box retailer reported compared with what analysts were expecting, based on Refinitiv data:

Earnings per share, adjusted: $1.53 vs. $1.43 expected

Revenues: $17.63 billion vs. $17.52 billion expected

Same-store sales: up 4.8% vs. growth of 4.2% expected

CEO Brian Cornell said Target is “well-positioned to deliver strong financial performance in 2019 and beyond.”

Net income grew to $795 million, or $1.53 per share, compared with $718 million, or $1.33 a share, a year ago. That was 10 cents ahead of analysts’ estimates.

Total revenues were up 5% to $17.63 billion from $16.78 billion last year. That beat estimates for $17.52 billion.

Sales at Target stores open for at least 12 months were up 4.8%, better than expected growth of 4.2%. This marks eight consecutive quarters of same-store sales growth for Target. Target said traffic at stores was up 4.3%, transactions overall were up 4.3% and the average transaction amount was up 0.5%.

Digital sales surged 42%, and purchases that originate online now represent 7.1% of Target’s total transactions, up from 5.2% a year ago.

Target is still calling for same-store sales to be up a low-to-mid-single digit percentage for the year, with a mid-single digit increase in operating income, and adjusted earnings per share falling within a range of $5.75 to $6.05.

Target’s earnings follow those of rival Walmart, which showed pressure on margins easing thanks to greater sales of its in-house apparel and home brands and private-label food options. Target has been hoping to see more of the same in its results.

During the latest quarter, Target said its recently launched intimates and sleepwear brands Auden, Stars Above and Colsie were well received. The company is one of many retailers today trying to take market share from struggling Victoria’s Secret. Target also launched an environmentally friendly cleaning-products brand called Everspring this quarter.

Morgan Stanley earlier this month upgraded shares of Target, calling it a “survivor” in retail. The firm said it believed Target was beyond its “peak margin pain,” as it’s been making investments in its stores, website and supply chain. Those investments had previously eaten into profits.

“Now, there are signs Target’s shipping-related deleverage is narrowing, particularly as it invests in fulfillment options … which promote higher traffic and reduce costs,” Morgan Stanley said ahead of earnings.

Target also generated buzz this month around the launch of its limited-edition line with preppy apparel and accessories brand Vineyard Vines. When items hit stores this past weekend, throngs of shoppers showed up ahead of opening hours. Target has used collaborations like this in the past to drive traffic. The results of that effort will be in next quarter’s results.

As of Tuesday’s market close, Target shares are up about 9% for the year, bringing its market cap to approximately $37.1 billion. Walmart shares are up about 8.5% so far this year.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: lauren thomas courtney reagan, lauren thomas, courtney reagan, sam meredith
Keywords: news, cnbc, companies, sales, 42, vs, traffic, fuel, billion, market, jump, earnings, share, ecommerce, beat, target, gains, stores, shares


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Ford, GM shares jump as Trump plans to delay auto tariffs

WeWork urges investors to see losses as ‘investments’ as it…WeWork has to convince public market investors that its losses are different than those of Uber or Lyft as the company prepares for its IPO. Technologyread more


WeWork urges investors to see losses as ‘investments’ as it…WeWork has to convince public market investors that its losses are different than those of Uber or Lyft as the company prepares for its IPO. Technologyread more
Ford, GM shares jump as Trump plans to delay auto tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: michael sheetz
Keywords: news, cnbc, companies, delay, public, investors, wework, market, shares, plans, jump, ford, gm, losses, trump, lyft, prepares, uber, urges, auto, tariffs, itwework


Ford, GM shares jump as Trump plans to delay auto tariffs

WeWork urges investors to see losses as ‘investments’ as it…

WeWork has to convince public market investors that its losses are different than those of Uber or Lyft as the company prepares for its IPO.

Technology

read more


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: michael sheetz
Keywords: news, cnbc, companies, delay, public, investors, wework, market, shares, plans, jump, ford, gm, losses, trump, lyft, prepares, uber, urges, auto, tariffs, itwework


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Oil prices jump as Saudi energy minister reports drone ‘terrorism’ against pipeline infrastructure

Saudi Arabia’s Energy Minister Khalid al-Falih attends a press conference at the end of the 13th meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC and non- OPEC countries in Baku on March 18, 2019. DUBAI — Oil prices rose sharply Tuesday morning on reports of a drone attack at oil pumping stations in Saudi Arabia. The incident is an “act of terrorism,” Saudi Energy Minister Khalid al-Falih said according to the Saudi state news agency SPA, describing attacks on two oil pumping


Saudi Arabia’s Energy Minister Khalid al-Falih attends a press conference at the end of the 13th meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC and non- OPEC countries in Baku on March 18, 2019. DUBAI — Oil prices rose sharply Tuesday morning on reports of a drone attack at oil pumping stations in Saudi Arabia. The incident is an “act of terrorism,” Saudi Energy Minister Khalid al-Falih said according to the Saudi state news agency SPA, describing attacks on two oil pumping
Oil prices jump as Saudi energy minister reports drone ‘terrorism’ against pipeline infrastructure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: natasha turak
Keywords: news, cnbc, companies, minister, jump, stations, infrastructure, spa, state, opec, alfalih, oil, supplies, pipeline, pumping, terrorism, prices, saudi, reports, energy


Oil prices jump as Saudi energy minister reports drone 'terrorism' against pipeline infrastructure

Saudi Arabia’s Energy Minister Khalid al-Falih attends a press conference at the end of the 13th meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC and non- OPEC countries in Baku on March 18, 2019.

DUBAI — Oil prices rose sharply Tuesday morning on reports of a drone attack at oil pumping stations in Saudi Arabia.

The incident is an “act of terrorism,” Saudi Energy Minister Khalid al-Falih said according to the Saudi state news agency SPA, describing attacks on two oil pumping stations near Riyadh for the country’s East-West pipeline carried out with bomb-laden drones.

Brent crude futures were up 1.6% at $71.38 a barrel, up $1.15. U.S. West Texas Intermediate (WTI) crude futures were at $61.95 per barrel at 11:26 a.m. New York time, up 1.4% for the session.

The fire has since been contained, according to the SPA. Al-Falih asserted that oil production was not interrupted. State oil company Saudi Aramco said that its oil and gas supplies to Europe have not been affected, and that no one was injured.

“This act of terrorism and sabotage in addition to recent acts in the Arabian Gulf do not only target the Kingdom but also the security of world oil supplies and the global economy,” the SPA described al-Falih as saying.

No one has yet been directly accused of carrying out the attack, but a Yemeni Houthi-run TV channel announced on Tuesday morning it had launched drone attacks on several Saudi installations.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: natasha turak
Keywords: news, cnbc, companies, minister, jump, stations, infrastructure, spa, state, opec, alfalih, oil, supplies, pipeline, pumping, terrorism, prices, saudi, reports, energy


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The cost of your shoes could jump thanks to the US-China trade war

The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes. Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff,


The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes. Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff,
The cost of your shoes could jump thanks to the US-China trade war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: lauren thomas
Keywords: news, cnbc, companies, war, footwear, billion, jump, shoes, increase, trade, thanks, tariff, cost, tariffs, 25, china, working, uschina


The cost of your shoes could jump thanks to the US-China trade war

The cost of your sneakers or high heels could soon jump, thanks to another round of tariffs under consideration by the Trump administration as part of an ongoing trade war with China.

The White House on Monday released a fresh list of about $300 billion in Chinese goods that could get hit with 25% tariffs, if President Donald Trump decides to move forward with his threat. The list includes footwear — everything from sneakers to sandals, golf shoes, rain boots and ski shoes.

Should the tariff increase ultimately take effect, analysts say consumers would feel the brunt of the impact. And the American footwear industry is particularly dependent on China.

In 2017, China accounted for about 72% of all footwear imported into the U.S., according to the American Apparel and Footwear Association. The U.S. imported $11.4 billion worth of footwear from China last year, according to data from the U.S. Census Bureau.

“While brands have moved their production into other countries in Asia because labor costs are lower there, everybody is still making shoes in China,” said Matt Powell, a sports analyst for NPD Group. “The Chinese have years of expertise. They tend to be the best at making high-value product.”

Both Nike and Adidas — the top two sneaker makers in the U.S. by sales — have steadily been easing their reliance on China, shifting production to Vietnam instead. Both companies declined to comment when reached by CNBC.

Puma has said it’s working to do more of the same. But China still dominates when it comes to footwear manufacturing.

“For a lot of working families who buy shoes at Walmart, Target and these other retailers … a ton of volume runs through [China], ” said Matt Priest, the president and CEO of the Footwear Distributors and Retailers of America, a trade organization. The proposed tariffs on footwear “are concerning to say the least,” he said. “It’s every single type of shoe.”

FDRA said a popular type of canvas “skate” sneaker, currently retailing at $49.99, with a 25% tariff, could increase to $65.57. The price of a typical hunting boot would increase from $190 to $248.56. And a popular performance running shoe could jump from $150 to $206.25, FDRA said.

Ultimately, a 25% tariff on footwear could cost shoppers more than $7 billion each year, Priest said — what he called a “conservative” estimate.

— CNBC’s Jessica Golden contributed to this reporting.

WATCH: Cramer explains which businesses have the most exposure to the trade war


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: lauren thomas
Keywords: news, cnbc, companies, war, footwear, billion, jump, shoes, increase, trade, thanks, tariff, cost, tariffs, 25, china, working, uschina


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Yen stronger against dollar, volatility bets jump on tariff threats

The U.S. dollar weakened against the Japanese yen on Tuesday as foreign exchange traders sought out safe-haven assets and placed bets on increasing currency volatility after President Donald Trump threatened to impose additional tariffs on Chinese goods. The demand for yen bolstered the volatility index measuring moves in and out of the Japanese currency. The Chicago Board Options Exchange’s Japanese Yen Volatility Index was last up 12.67%. The British Pound Volatility Index was last up 3.52%. T


The U.S. dollar weakened against the Japanese yen on Tuesday as foreign exchange traders sought out safe-haven assets and placed bets on increasing currency volatility after President Donald Trump threatened to impose additional tariffs on Chinese goods. The demand for yen bolstered the volatility index measuring moves in and out of the Japanese currency. The Chicago Board Options Exchange’s Japanese Yen Volatility Index was last up 12.67%. The British Pound Volatility Index was last up 3.52%. T
Yen stronger against dollar, volatility bets jump on tariff threats Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07
Keywords: news, cnbc, companies, dollar, investors, jump, higher, index, volatility, exchange, stronger, chinese, yen, bets, foreign, threats, tariff, japanese


Yen stronger against dollar, volatility bets jump on tariff threats

The U.S. dollar weakened against the Japanese yen on Tuesday as foreign exchange traders sought out safe-haven assets and placed bets on increasing currency volatility after President Donald Trump threatened to impose additional tariffs on Chinese goods.

The yen was trading at its strongest since March 28, last at half a percent better on the day at 110.20 per dollar. The Swiss franc and longer-dated Treasury bond prices were also buoyed as investors moved into high-quality assets.

“The primary story continues to be the U.S.-China trade agreement. Everyone is focused on that,” said Thierry Wizman, global interest rates and currencies strategist at Macquarie Group.

The demand for yen bolstered the volatility index measuring moves in and out of the Japanese currency. The Chicago Board Options Exchange’s Japanese Yen Volatility Index was last up 12.67%.

The price on other currency-related volatility products also rose. The euro index was up 4.75% on Tuesday and up 11.17% from Friday. The British Pound Volatility Index was last up 3.52%.

“Given investors have been selling volatility since January, they have probably sold more than they wanted and are now scrambling in the opposite direction,” said Wizman.

Traders are “trying to cover their short volatility plays, trying to protect themselves with some optionality, sending foreign exchange vols higher and obviously sending the dollar higher against some of the key pairs,” he added.

Trump tweeted on Sunday that he would raise tariffs on $200 billion worth of Chinese goods to 25% from 10% by the end of the week and would “soon” target the remaining Chinese imports with tariffs.

But top Chinese negotiator Vice Premier Liu He will head to Washington this week for talks, and some investors have interpreted Trump’s threat as a negotiating tactic.

Although volatility indexes were higher, most moves in currencies were muted. After a bout of nerves Monday immediately following Trump’s comments, foreign exchange traders expressed no fresh panic on Tuesday at the prospect of a breakdown in negotiations between China and the United States.

“As long as the talks continue, the market will remain relaxed … that there will be a deal after all,” said Esther Reichelt, currency analyst at Commerzbank.

The offshore yuan on Monday had been on course for its worst daily drop in 10 months, briefly touching a four-month low of 6.8218, but it later recovered some of those losses while remaining under pressure. It was last down 0.43% at 6.801 yuan per dollar.

The dollar index was 0.08% higher, last at 97.60, with the dollar 0.10% stronger against the euro at $1.118 .


Company: cnbc, Activity: cnbc, Date: 2019-05-07
Keywords: news, cnbc, companies, dollar, investors, jump, higher, index, volatility, exchange, stronger, chinese, yen, bets, foreign, threats, tariff, japanese


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Bausch Health shares jump after the company, formerly Valeant Pharmaceuticals, raises 2019 outlook

Shares of Bausch Health, formerly known as Valeant Pharmaceuticals, jumped as much as 3% in premarket trading Monday after the company raised its 2019 outlook. The drugmaker raised its full-year revenues from between $8.3 billion and $8.50 billion to a range of $8.35 billion and $8.55 billion. It raised its full-year earnings from between $3.35 billion and $3.5 billion to a range of $3.4 billion and $3.55 billion. Late last month, Bausch Health said its dermatology business, Ortho Dermatologics,


Shares of Bausch Health, formerly known as Valeant Pharmaceuticals, jumped as much as 3% in premarket trading Monday after the company raised its 2019 outlook. The drugmaker raised its full-year revenues from between $8.3 billion and $8.50 billion to a range of $8.35 billion and $8.55 billion. It raised its full-year earnings from between $3.35 billion and $3.5 billion to a range of $3.4 billion and $3.55 billion. Late last month, Bausch Health said its dermatology business, Ortho Dermatologics,
Bausch Health shares jump after the company, formerly Valeant Pharmaceuticals, raises 2019 outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, billion, raises, raised, health, revenues, valeant, company, study, bausch, loss, fullyear, shares, range, jump, 2019, outlook, pharmaceuticals


Bausch Health shares jump after the company, formerly Valeant Pharmaceuticals, raises 2019 outlook

Shares of Bausch Health, formerly known as Valeant Pharmaceuticals, jumped as much as 3% in premarket trading Monday after the company raised its 2019 outlook.

The drugmaker raised its full-year revenues from between $8.3 billion and $8.50 billion to a range of $8.35 billion and $8.55 billion. It raised its full-year earnings from between $3.35 billion and $3.5 billion to a range of $3.4 billion and $3.55 billion.

It also generated first-quarter revenues of $2.02 billion, up slightly from $2 billion a year ago. It narrowed its loss to $52 million from a loss of $2.58 billion a year earlier. The company did not provide a number for adjusted earnings, but Wall Street analysts were expecting 86 cents per share.

The company’s Bausch & Lomb International business accounted for about 55% of its revenue in the first quarter, bringing in $1.118 billion compared with $1.103 billion a year ago.

Late last month, Bausch Health said its dermatology business, Ortho Dermatologics, received FDA approval for its DUOBRII lotion to treat plaque psoriasis. The drugmaker conducted two clinical trials, with 36% of patients in the first study and 45% in the second study seeing their skin clear up.

Bausch Health shares are up more than 26% this year. The stock has risen more than 30% over the last 12 months through Friday’s close.


Company: cnbc, Activity: cnbc, Date: 2019-05-06  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, billion, raises, raised, health, revenues, valeant, company, study, bausch, loss, fullyear, shares, range, jump, 2019, outlook, pharmaceuticals


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Bitcoin rallies to a six-month high, other cryptocurrencies also jump

Bitcoin is on a tear Friday, climbing to a fresh six-month high. The world’s best-known cryptocurrency jumped more than 7% Friday to around $5,750, according to CoinDesk data, its highest level since November 14. The virtual currency is now up more than 50% since the start of the year. Other digital assets, including ether and XRP, also climbed. Ether moved about 5% higher to just shy of $170, while XRP was up nearly 2% at a price of 31 cents.


Bitcoin is on a tear Friday, climbing to a fresh six-month high. The world’s best-known cryptocurrency jumped more than 7% Friday to around $5,750, according to CoinDesk data, its highest level since November 14. The virtual currency is now up more than 50% since the start of the year. Other digital assets, including ether and XRP, also climbed. Ether moved about 5% higher to just shy of $170, while XRP was up nearly 2% at a price of 31 cents.
Bitcoin rallies to a six-month high, other cryptocurrencies also jump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: ryan browne
Keywords: news, cnbc, companies, cryptocurrencies, start, yearother, virtual, sixmonth, upward, ether, bitcoin, xrp, tear, wasnt, jump, high, worlds, rallies


Bitcoin rallies to a six-month high, other cryptocurrencies also jump

Bitcoin is on a tear Friday, climbing to a fresh six-month high.

The world’s best-known cryptocurrency jumped more than 7% Friday to around $5,750, according to CoinDesk data, its highest level since November 14.

The reason for the upward move wasn’t immediately clear. The virtual currency is now up more than 50% since the start of the year.

Other digital assets, including ether and XRP, also climbed. Ether moved about 5% higher to just shy of $170, while XRP was up nearly 2% at a price of 31 cents.


Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: ryan browne
Keywords: news, cnbc, companies, cryptocurrencies, start, yearother, virtual, sixmonth, upward, ether, bitcoin, xrp, tear, wasnt, jump, high, worlds, rallies


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post