Asia stocks rise on the back of an overnight bounce on Wall Street

Stocks in Asia were higher on Wednesday morning following a strong bounce on Wall Street overnight. In Japan, the Nikkei 225 advanced by 1.32 percent in early trade, while the Topix index also saw gains of 1.16 percent, with most sectors trending up. Softbank has close ties to the Saudi administration, with a significant proportion of its investment capital stemming from the country. In South Korea, the Kospi also bounced higher by 1.64 percent in early trade, with shares of industry heavyweight


Stocks in Asia were higher on Wednesday morning following a strong bounce on Wall Street overnight. In Japan, the Nikkei 225 advanced by 1.32 percent in early trade, while the Topix index also saw gains of 1.16 percent, with most sectors trending up. Softbank has close ties to the Saudi administration, with a significant proportion of its investment capital stemming from the country. In South Korea, the Kospi also bounced higher by 1.64 percent in early trade, with shares of industry heavyweight
Asia stocks rise on the back of an overnight bounce on Wall Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, overnight, trade, rise, morning, asia, higher, saw, industry, gains, street, softbank, trending, sectors, wall, saudi, bounce


Asia stocks rise on the back of an overnight bounce on Wall Street

Stocks in Asia were higher on Wednesday morning following a strong bounce on Wall Street overnight.

In Japan, the Nikkei 225 advanced by 1.32 percent in early trade, while the Topix index also saw gains of 1.16 percent, with most sectors trending up.

Shares of Softbank jumped above 4 percent in the morning after the company’s Chief Operating Officer Marcelo Claure said it was “anxiously looking” at developments related to the disappearance of Saudi Arabian journalist Jamal Khashoggi. Softbank has close ties to the Saudi administration, with a significant proportion of its investment capital stemming from the country.

In South Korea, the Kospi also bounced higher by 1.64 percent in early trade, with shares of industry heavyweight Samsung Electronics seeing gains of 1.83 percent.

The ASX 200 traded up by 0.84 percent in the morning, with most sectors trending higher — the energy subindex was up by 0.62 percent, while the heavily weighted financials industry saw a gain of 1.21 percent.

Hong Kong’s stock market is closed for a public holiday.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: eustance huang
Keywords: news, cnbc, companies, stocks, overnight, trade, rise, morning, asia, higher, saw, industry, gains, street, softbank, trending, sectors, wall, saudi, bounce


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Dollar gains after US shares rise, yen slips as risk appetites improve

The dollar strengthened against most major peers on Wednesday, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets. The greenback was trading at 112.34 yen, a gain of 0.07 percent against the Japanese currency. Through Monday, when it hit a one-month high of 111.61, the yen had strengthened seven out of eight sessions. The New Zealand dollar traded flat versus the greenback, at 0.6589 on Wednesday. The Australian dollar, often considered a baromet


The dollar strengthened against most major peers on Wednesday, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets. The greenback was trading at 112.34 yen, a gain of 0.07 percent against the Japanese currency. Through Monday, when it hit a one-month high of 111.61, the yen had strengthened seven out of eight sessions. The New Zealand dollar traded flat versus the greenback, at 0.6589 on Wednesday. The Australian dollar, often considered a baromet
Dollar gains after US shares rise, yen slips as risk appetites improve Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17
Keywords: news, cnbc, companies, wall, dollar, appetites, risk, traded, yen, slips, global, fed, gain, shares, gains, rise, improve, trading, hit, greenback


Dollar gains after US shares rise, yen slips as risk appetites improve

The dollar strengthened against most major peers on Wednesday, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets.

The three main Wall Street indexes each rose by more than 2 percent as blue-chips delivered strong earnings indicating that the U.S. economic recovery is on track despite rising interest rates and global trade war tensions.

Data on Tuesday showed that U.S. industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output, but momentum slowed sharply in the third quarter

The dollar index, a gauge of its value against six major peers, rose 0.14 percent to quote at 95.18 on Wednesday.

The greenback was trading at 112.34 yen, a gain of 0.07 percent against the Japanese currency.

Through Monday, when it hit a one-month high of 111.61, the yen had strengthened seven out of eight sessions.

“The rebound in global sentiment has taken the appreciation pressure off the yen,” said Stuart Ritson, portfolio manager, emerging markets debt at Aviva Investors.

Market participants will be looking for clues on the dollar’s direction and the path ahead on U.S. interest-rate hikes from minutes of the Federal Reserve’s September meeting, due for release later on Wednesday.

Interest rate futures are pricing in a 77 percent likelihood that the Fed will again raise rates in December, according to the CME Group’s FedWatch Tool.

“The Fed is close to neutrality and the FOMC will pause when the Fed funds rate gets to 2.75 percent,” Brian Martin, ANZ head of global economics, said in a note.

“While there are upside risks to our forecasts, we think the Fed will struggle to raise the Fed funds target much beyond 3.0 percent,” he added.

The British pound was at $1.3175, down 0.1 percent, after tacking a gain of 0.25 percent on Tuesday.

While sterling was supported by Tuesday’s stronger than expected British employment data, investors are still doubtful that the European Union Summit on Wednesday will yield much progress on the Northern Island border issue blocking a Brexit agreement.

On Wednesday, the euro traded lower at $1.1560, down 0.1 percent. On Tuesday, the single currency reached $1.1622 – its highest since Oct. 1 – before giving up its gains.

The New Zealand dollar traded flat versus the greenback, at 0.6589 on Wednesday. The kiwi clocked a gain of 0.5 percent on Tuesday as domestic inflation picked up stronger than expected.

The Australian dollar, often considered a barometer of global risk appetite, lost 0.07 percent to US$0.7135. The Aussie has gained marginally against the greenback over the past two trading sessions. It hit a more than two-year low of US$0.7039 on Oct. 8.

Gold lost 0.16 percent to trade at $1,223 per ounce on Wednesday. The yellow metal hit its highest level since July 27 on Monday, hitting an intra-day high of $1,233 per ounce.


Company: cnbc, Activity: cnbc, Date: 2018-10-17
Keywords: news, cnbc, companies, wall, dollar, appetites, risk, traded, yen, slips, global, fed, gain, shares, gains, rise, improve, trading, hit, greenback


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Oil prices sink as US crude stockpiles rise by 6.5 million barrels

Oil prices extended losses on Wednesday after U.S. inventory data showed a much larger than expected rise in U.S. crude stockpiles. U.S. commercial crude stockpiles rose by 6.5 million barrels in the week to Oct. 12, the U.S. Energy Information Administration reported. A Reuters survey of eight analysts estimated crude stocks rose by about 2.2 million barrels last week. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.8 million barrels, EIA said. Brent crude was down $1.77, or 2.2 p


Oil prices extended losses on Wednesday after U.S. inventory data showed a much larger than expected rise in U.S. crude stockpiles. U.S. commercial crude stockpiles rose by 6.5 million barrels in the week to Oct. 12, the U.S. Energy Information Administration reported. A Reuters survey of eight analysts estimated crude stocks rose by about 2.2 million barrels last week. Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.8 million barrels, EIA said. Brent crude was down $1.77, or 2.2 p
Oil prices sink as US crude stockpiles rise by 6.5 million barrels Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17
Keywords: news, cnbc, companies, sink, barrels, oct, weekcrude, stockpiles, oil, stocks, 65, crude, rose, 22, rise, week, twoweek, million, prices


Oil prices sink as US crude stockpiles rise by 6.5 million barrels

Oil prices extended losses on Wednesday after U.S. inventory data showed a much larger than expected rise in U.S. crude stockpiles.

U.S. commercial crude stockpiles rose by 6.5 million barrels in the week to Oct. 12, the U.S. Energy Information Administration reported. A Reuters survey of eight analysts estimated crude stocks rose by about 2.2 million barrels last week.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.8 million barrels, EIA said.

Brent crude was down $1.77, or 2.2 percent, at $79.64 a barrel by 10:41 a.m. ET (1441 GMT), after gaining $1.15 in the previous three sessions. The global benchmark, which hit a two-week low last week as equity markets dropped, is trading around $6 below a four-year high of $86.74 reached on Oct. 3.


Company: cnbc, Activity: cnbc, Date: 2018-10-17
Keywords: news, cnbc, companies, sink, barrels, oct, weekcrude, stockpiles, oil, stocks, 65, crude, rose, 22, rise, week, twoweek, million, prices


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UK inflation drops more than expected in Sept, pulled down by food prices

Consumer price inflation rose at an annual rate of 2.4 percent in September, compared with August’s unexpected six-month high of 2.7 percent, the Office for National Statistics said. That was well below the consensus of a Reuters poll of economists for a fall to 2.6 percent. “Food was the main downward pull on inflation as last year’s September price rises failed to reappear, while ferry prices dropped after their surprisingly high summer peak,” ONS statistician Mike Hardie said. Consumer price


Consumer price inflation rose at an annual rate of 2.4 percent in September, compared with August’s unexpected six-month high of 2.7 percent, the Office for National Statistics said. That was well below the consensus of a Reuters poll of economists for a fall to 2.6 percent. “Food was the main downward pull on inflation as last year’s September price rises failed to reappear, while ferry prices dropped after their surprisingly high summer peak,” ONS statistician Mike Hardie said. Consumer price
UK inflation drops more than expected in Sept, pulled down by food prices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: oli scarff, getty images
Keywords: news, cnbc, companies, compared, 31, uk, pulled, food, inflation, expected, sept, price, high, rise, poll, rose, ons, drops, prices


UK inflation drops more than expected in Sept, pulled down by food prices

British inflation cooled more than expected in September to a three-month low, offering some relief for consumers who have been squeezed financially since the Brexit vote, data showed on Wednesday.

Consumer price inflation rose at an annual rate of 2.4 percent in September, compared with August’s unexpected six-month high of 2.7 percent, the Office for National Statistics said.

That was well below the consensus of a Reuters poll of economists for a fall to 2.6 percent.

“Food was the main downward pull on inflation as last year’s September price rises failed to reappear, while ferry prices dropped after their surprisingly high summer peak,” ONS statistician Mike Hardie said.

On Tuesday, the ONS said the basic wages of workers rose at their fastest pace in nearly a decade over the summer months.

That backed up the Bank of England’s view that a long period of weak pay increases is ending, and that it should raise interest rates in response. Still, the wage growth of 3.1 percent remained meagre by historical standards when adjusted for inflation.

The BoE expects inflation will drift down but will remain just above its 2 percent target in two years’ time as it gradually raises borrowing costs.

Consumer price inflation hit a five-year high of 3.1 percent in November, when the inflationary effect of the pound’s tumble after Brexit vote in June 2016 reached its peak.

While that has started to subside, Wednesday’s ONS figures suggested there could be more short-term pressure in the pipeline for consumer prices.

Among manufacturers, the cost of raw materials – many of them imported – was 10.3 percent higher than in September 2017, up from a revised 9.4 percent in August.

That was a bigger rise than any economist had forecast in the Reuters poll that had pointed to a rise of 9.2 percent.

Manufacturers increased the prices they charged by 3.1 percent compared with 2.9 percent in August, again stronger than all forecasts in the poll that had pointed to a 2.9 percent increase.

The ONS also said house prices in August rose by an annual 3.2 percent across the United Kingdom as a whole, the smallest rise since August 2013 and compared with a 3.4 percent increase in July. Prices in London alone slipped 0.2 percent.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: oli scarff, getty images
Keywords: news, cnbc, companies, compared, 31, uk, pulled, food, inflation, expected, sept, price, high, rise, poll, rose, ons, drops, prices


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Here are the most popular marijuana stocks as Canada becomes the largest country to legalize pot

Canopy Growth, another favorite in the space, lost 3.5 percent on the New York Stock Exchange. Tilray is up 750 percent from its IPO price of $17 while Canopy is up about 100 percent since mid-July. Some members of Wall Street’s cannabis community cautioned that the rapid rise in pot stock prices could be followed by modest sales in the early innings of legalization, including the top analyst in the space. “For product availability on day one it’s going to be pretty limited: no traditional vapor


Canopy Growth, another favorite in the space, lost 3.5 percent on the New York Stock Exchange. Tilray is up 750 percent from its IPO price of $17 while Canopy is up about 100 percent since mid-July. Some members of Wall Street’s cannabis community cautioned that the rapid rise in pot stock prices could be followed by modest sales in the early innings of legalization, including the top analyst in the space. “For product availability on day one it’s going to be pretty limited: no traditional vapor
Here are the most popular marijuana stocks as Canada becomes the largest country to legalize pot Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: thomas franck, trevor hagan, bloomberg, getty images
Keywords: news, cnbc, companies, marijuana, pot, popular, going, lost, stocks, legalize, streets, canada, country, stock, largest, tilray, wall, product, rise


Here are the most popular marijuana stocks as Canada becomes the largest country to legalize pot

Cramer: If you want to own pot stocks, you have to believe deregulation will happen in 5 years 6 Hours Ago | 02:04

Medical marijuana company Tilray, whose stock has posted a meteoric rise on the Nasdaq since its initial U.S. offering in July, shed more than 6 percent Wednesday. Canopy Growth, another favorite in the space, lost 3.5 percent on the New York Stock Exchange. Tilray is up 750 percent from its IPO price of $17 while Canopy is up about 100 percent since mid-July.

Some members of Wall Street’s cannabis community cautioned that the rapid rise in pot stock prices could be followed by modest sales in the early innings of legalization, including the top analyst in the space.

“While the opportunity is large, the market is going to develop in phases both in terms of product availability as well as retail access points,” Cowen analyst Vivien Azer told CNBC in an interview Tuesday. “For product availability on day one it’s going to be pretty limited: no traditional vapor products, beverages or edibles. That could take as much as a year.”

Aurora Cannabis dropped 1.5 percent in Canadian trading, while Cronos Group lost 5 percent in Toronto. The ETFMG Alternative Harvest exchange-traded fund — one of Wall Street’s favorite marijuana ETFs — fell 3 percent in the session.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: thomas franck, trevor hagan, bloomberg, getty images
Keywords: news, cnbc, companies, marijuana, pot, popular, going, lost, stocks, legalize, streets, canada, country, stock, largest, tilray, wall, product, rise


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With 10-year yields above 3.1%, here’s the next level technician Louise Yamada is watching

The breakout in Treasury yields confirms a trend veteran technician Louise Yamada has seen in the cards for some time. “We have made a shift from the 36-year falling interest rate cycle into a new emerging rising interest rate cycle which may take us a decade or two to complete,” Yamada, managing director of Louise Yamada Technical Research Advisors, said Tuesday on CNBC’s “Futures Now.” “The move to 3 percent really completed the reversal from the falling rate cycle to the rising rate cycle. Bo


The breakout in Treasury yields confirms a trend veteran technician Louise Yamada has seen in the cards for some time. “We have made a shift from the 36-year falling interest rate cycle into a new emerging rising interest rate cycle which may take us a decade or two to complete,” Yamada, managing director of Louise Yamada Technical Research Advisors, said Tuesday on CNBC’s “Futures Now.” “The move to 3 percent really completed the reversal from the falling rate cycle to the rising rate cycle. Bo
With 10-year yields above 3.1%, here’s the next level technician Louise Yamada is watching Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: keris lahiff, daniel acker, bloomberg, getty images, susana vera, drew angerer, david a grogan
Keywords: news, cnbc, companies, rate, 31, bond, technician, heres, treasury, 10year, interest, seen, watching, cycle, level, rates, yamada, yields, louise, rise


With 10-year yields above 3.1%, here's the next level technician Louise Yamada is watching

This is the next level to watch in bond markets: technician Louise Yamada 2 Hours Ago | 00:54

After a surge in yields last week, rates now sit comfortably at highs not seen in seven years.

The breakout in Treasury yields confirms a trend veteran technician Louise Yamada has seen in the cards for some time.

“We have made a shift from the 36-year falling interest rate cycle into a new emerging rising interest rate cycle which may take us a decade or two to complete,” Yamada, managing director of Louise Yamada Technical Research Advisors, said Tuesday on CNBC’s “Futures Now.” “We’ve made the turn.”

The yield on the 10-year Treasury note surged from around 1.8 percent to above 2 percent in November 2016 following the U.S. presidential election. The spike in yields broke through a 1981 downtrend that Yamada had been tracking.

“The move to 3 percent really completed the reversal from the falling rate cycle to the rising rate cycle. The 1981 downtrend has been penetrated and now you’ve gone through that 3 percent critical level,” she said.

Yields broke through 3 percent earlier in the year as tightening monetary conditions and Treasury oversupply gave rise to a bond sell-off and higher rates. Bond yields rise as prices fall.

Now, Yamada sees a grind higher in interest rates that could take it to levels not seen since April 2011.

“Rates will move slowly, whether or not we get a little bit of a consolidation here,” said Yamada. Bond yields could see “some vacillation here above and around 3 percent, possibly moving a little higher with the December interest rate rise. I don’t see a rush toward 3.5 percent but that’s our next target.”

While the bond market rout and yield spike triggered a sell-off last week, Yamada does not expect any real hit to the economy until much later.

“You don’t have an effect on the economic picture from rates themselves until it gets up near 5 percent and I can’t see that happening in the near future,” she said. “That’s not to say the market can’t have an interim pullback which I think we may still be in the middle of.”

Yields have not risen above 5 percent since July 2007.


Company: cnbc, Activity: cnbc, Date: 2018-10-17  Authors: keris lahiff, daniel acker, bloomberg, getty images, susana vera, drew angerer, david a grogan
Keywords: news, cnbc, companies, rate, 31, bond, technician, heres, treasury, 10year, interest, seen, watching, cycle, level, rates, yamada, yields, louise, rise


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Oil prices rise on signs of falling Iranian oil exports

Oil prices rose on Tuesday on signs of falling Iran oil exports ahead of U.S. sanctions against Tehran in November, while geopolitical tensions remain over a missing Saudi journalist. International benchmark Brent crude for December delivery rose 9 cents, or 0.1 percent, to $80.87 per barrel by 0032 GMT. Saudi Arabia, however, has faced political pressure over the disappearance of journalist Jamal Khashoggi on Oct.2 after visiting the Saudi consulate in Istanbul. Trump dispatched Secretary of St


Oil prices rose on Tuesday on signs of falling Iran oil exports ahead of U.S. sanctions against Tehran in November, while geopolitical tensions remain over a missing Saudi journalist. International benchmark Brent crude for December delivery rose 9 cents, or 0.1 percent, to $80.87 per barrel by 0032 GMT. Saudi Arabia, however, has faced political pressure over the disappearance of journalist Jamal Khashoggi on Oct.2 after visiting the Saudi consulate in Istanbul. Trump dispatched Secretary of St
Oil prices rise on signs of falling Iranian oil exports Cached Page below :
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Keywords: news, cnbc, companies, arabia, saudi, prices, falling, crude, trump, week, rise, oil, million, exports, iran, journalist, according, iranian, signs


Oil prices rise on signs of falling Iranian oil exports

Oil prices rose on Tuesday on signs of falling Iran oil exports ahead of U.S. sanctions against Tehran in November, while geopolitical tensions remain over a missing Saudi journalist.

International benchmark Brent crude for December delivery rose 9 cents, or 0.1 percent, to $80.87 per barrel by 0032 GMT.

U.S. West Texas Intermediate crude for November delivery was up 5 cents at $71.83 a barrel.

Iran has exported 1.33 million barrels per day (bpd) to a few countries including India and China in the first two weeks of October, according to Refinitiv Eikon data.

That was down from at least 2.5 million bpd in April before U.S. President Donald Trump withdrew from a multi-lateral nuclear deal with Iran in May.

As looming Iran sanctions raise supply concerns, Saudi Arabia’s Energy Minister Khalid al-Falih said on Monday the kingdom is committed to meeting India’s rising oil demand and is the “shock absorber” for supply disruptions in the oil market.

Saudi Arabia, however, has faced political pressure over the disappearance of journalist Jamal Khashoggi on Oct.2 after visiting the Saudi consulate in Istanbul.

U.S. President Donald Trump threatened “severe punishment” for the kingdom if the journalist is found to have been killed. Trump dispatched Secretary of State Mike Pompeo to Saudi Arabia to meet with King Salman.

Saudi Arabia is preparing to admit the death of the Saudi journalist according to CNN and the New York Times reports on Monday.

“For now, concerns around the disappearance of a Saudi Arabian national appear to be limited to the political sphere,” a Huston-based consultancy Stratas Advisors said in a note.

But WTI prices could fall in the back half of the week, weighed by an increase in U.S. crude inventories, the note said.

U.S. crude stockpiles were forecast to have risen for the fourth straight week by about 1.1 million barrels in the week ended Oct.12, according to a Reuters poll ahead of reports from the American Petroleum Institute (API) and the U.S. Department of Energy’s Energy Information Administration (EIA).

The API’s data is due for publication at 4:30 p.m. EDT (2030 GMT) on Tuesday, and the EIA report is due at 10:30 a.m. EDT (1430 GMT) on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2018-10-16
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Europe closes higher after Wall Street earnings; Ocado shares rise 5%

U.K. stocks were initially hit by a rise in the pound due to optimism over a Brexit deal this week. Earnings news on Wall Street boosted shares across European markets. Markets are also focused on the disappearance of a prominent journalist critical of Saudi Arabia’s policies earlier this month. In individual stocks news, Meggitt shares jumped 6.35 percent after the British engineering business updated its revenue outlook for the year. Ocado shares rose 5.57 percent after the delivery firm recei


U.K. stocks were initially hit by a rise in the pound due to optimism over a Brexit deal this week. Earnings news on Wall Street boosted shares across European markets. Markets are also focused on the disappearance of a prominent journalist critical of Saudi Arabia’s policies earlier this month. In individual stocks news, Meggitt shares jumped 6.35 percent after the British engineering business updated its revenue outlook for the year. Ocado shares rose 5.57 percent after the delivery firm recei
Europe closes higher after Wall Street earnings; Ocado shares rise 5% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: sam meredith
Keywords: news, cnbc, companies, khashoggi, investment, wall, higher, shares, earnings, closes, stocks, revenue, ocado, prominent, sterling, europe, saudi, week, street, rise, disappearance


Europe closes higher after Wall Street earnings; Ocado shares rise 5%

The pan-European Euro Stoxx 600 index ended provisionally 1.54 percent higher with all bourses pushing into positive territory. U.K. stocks were initially hit by a rise in the pound due to optimism over a Brexit deal this week. However as those prospects faded, sterling weakened and, consequentially, U.K.-listed stocks rose.

Many stocks listed in London earn much of their income overseas, so a weak sterling is viewed as good for their income.

Earnings news on Wall Street boosted shares across European markets. Goldman Sachs beat analysts’ expectations for third-quarter profit and revenue, citing strength in its investment banking and investing and lending divisions.

Markets are also focused on the disappearance of a prominent journalist critical of Saudi Arabia’s policies earlier this month. The disappearance has triggered international outcry against the OPEC kingpin, rattling financial markets.

Jamal Khashoggi — a U.S. resident and prominent critic of Crown Prince Mohammed bin Salman — disappeared after entering the Saudi consulate in Istanbul, Turkey on Oct. 2. Turkish authorities claim Khashoggi was murdered and his body removed. Saudi Arabia has fiercely denied that.

In individual stocks news, Meggitt shares jumped 6.35 percent after the British engineering business updated its revenue outlook for the year. Ocado shares rose 5.57 percent after the delivery firm received a favorable upgrade by investment bank Merrill Lynch. Telecom stocks were also one of the outperformers, with Enel shares rising by 3.43 percent after announcing it was increasing its stake in its Chilean subsidiary.


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: sam meredith
Keywords: news, cnbc, companies, khashoggi, investment, wall, higher, shares, earnings, closes, stocks, revenue, ocado, prominent, sterling, europe, saudi, week, street, rise, disappearance


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UnitedHealth shares rise after posting rise in third-quarter profit

UnitedHealth earnings rose 28 percent to $3.41 per share. Total revenue rose 12.4 percent to $56.56 billion. UnitedHealth expects full-year adjusted earnings per share to approach $12.80, compared with its prior forecast of between $12.50 and $12.75. Shares of UnitedHealth rose 4 percent in premarket trading following the report. UnitedHealth, with a market cap of more than $250 billion, has seen its shares rise more than 18 percent so far this year.


UnitedHealth earnings rose 28 percent to $3.41 per share. Total revenue rose 12.4 percent to $56.56 billion. UnitedHealth expects full-year adjusted earnings per share to approach $12.80, compared with its prior forecast of between $12.50 and $12.75. Shares of UnitedHealth rose 4 percent in premarket trading following the report. UnitedHealth, with a market cap of more than $250 billion, has seen its shares rise more than 18 percent so far this year.
UnitedHealth shares rise after posting rise in third-quarter profit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, growth, medical, rise, thirdquarter, posting, health, rose, billion, share, gupte, unitedhealth, earnings, profit, revenue, shares


UnitedHealth shares rise after posting rise in third-quarter profit

Medicare is going to be very strong towards 2021 and privatized, says Leerink Partners’ Gupte 14 Hours Ago | 04:38

UnitedHealth, the largest U.S. health insurer, on Tuesday reported better-than-expected third-quarter earnings and revenue, driven by higher membership growth for its health insurance plans.

UnitedHealth earnings rose 28 percent to $3.41 per share. Total revenue rose 12.4 percent to $56.56 billion. Analysts on average had expected earnings of $3.29 per share on revenue of $56.34 billion, according to data from Refinitiv.

The company said its insurance business added 2.8 million more consumers year-over-year in the quarter.

UnitedHealth expects full-year adjusted earnings per share to approach $12.80, compared with its prior forecast of between $12.50 and $12.75.

The Hopkins, Minnesota-based company’s medical loss ratio, or the percentage of premiums paid out for medical services, was 81 percent in the quarter. The ratio was 8.14 percent a year ago.

Ana Gupte, senior research analyst at Leerink Partners, said in a note to clients Tuesday that UnitedHealth’s Optum unit is “growing solidly” in all segments, with growth of nearly 11 percent.

In an interview with CNBC’s “Squawk Box,” Gupte said UnitedHealth is the “bellwether” among the health-care groups, adding potential composition changes to Congress after the midterm elections are unlikely to impact its business. Government plans have been a a major growth driver for the insurer.

“The blue wave, to some degree, you might see more Medicaid expansion,” she said.

Shares of UnitedHealth rose 4 percent in premarket trading following the report. It was up more than 3 percent in midmorning trade. UnitedHealth, with a market cap of more than $250 billion, has seen its shares rise more than 18 percent so far this year.

While other health players including CVS Health, Aetna and Cigna are embarking on major merger deals, UnitedHealth has doubled down on a strategy of reining in costs and expanding its medical services group.

“These results reflect our businesses delivering increased value at an accelerating pace to society and the millions of people we serve,” UnitedHealth Group CEO David S. Wichmann said in a press release.

—Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-10-16  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, growth, medical, rise, thirdquarter, posting, health, rose, billion, share, gupte, unitedhealth, earnings, profit, revenue, shares


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US Treasury yields rise as investors monitor diplomatic tensions with Saudi Arabia

As the new week kicks into action, many investors remained cautious following an abrupt market shakeout in the previous trading week. Not helping the mood, oil prices bounced and Saudi Arabia’s shares tumbled amid rising diplomatic tensions between Riyadh and Washington over the disappearance of a journalist critical of Saudi policies. On the auction front, the U.S. Treasury is set to auction $45 billion in 13-week bills and $39 billion in 26-week bills on Monday. In the economic sphere, retail


As the new week kicks into action, many investors remained cautious following an abrupt market shakeout in the previous trading week. Not helping the mood, oil prices bounced and Saudi Arabia’s shares tumbled amid rising diplomatic tensions between Riyadh and Washington over the disappearance of a journalist critical of Saudi policies. On the auction front, the U.S. Treasury is set to auction $45 billion in 13-week bills and $39 billion in 26-week bills on Monday. In the economic sphere, retail
US Treasury yields rise as investors monitor diplomatic tensions with Saudi Arabia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: sam meredith
Keywords: news, cnbc, companies, set, rise, tensions, billion, wti, diplomatic, monitor, yields, investors, auction, world, bills, saudi, arabia, west, prices, data, treasury


US Treasury yields rise as investors monitor diplomatic tensions with Saudi Arabia

As the new week kicks into action, many investors remained cautious following an abrupt market shakeout in the previous trading week.

Not helping the mood, oil prices bounced and Saudi Arabia’s shares tumbled amid rising diplomatic tensions between Riyadh and Washington over the disappearance of a journalist critical of Saudi policies.

International benchmark Brent crude traded at around $81.14 Monday morning, up around 0.7 percent, while U.S. West Texas Intermediate (WTI) stood at $71.77, slightly more than 0.4 percent higher.

Soaring energy prices could boost inflation around the world and spark rises in U.S. borrowing costs, which are also seen hampering weak borrowers — particularly in emerging markets.

On the auction front, the U.S. Treasury is set to auction $45 billion in 13-week bills and $39 billion in 26-week bills on Monday.

In the economic sphere, retail sales figures for September are scheduled to be published at around 8:30 a.m. ET on Monday. Later in the session, Empire State Manufacturing Index data for October and business inventories data for August are both set to be released at around 10:00 a.m.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: sam meredith
Keywords: news, cnbc, companies, set, rise, tensions, billion, wti, diplomatic, monitor, yields, investors, auction, world, bills, saudi, arabia, west, prices, data, treasury


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