Traders on the floor of the NYSE, June 1, 2023. Source: NYSE Check out the companies making headlines in premarket trading. Apple — Shares of the tech giant were up about 1% ahead of Apple’s Worldwide Developers Conference, which kicks off Monday in Cupertino, California. Apple is widely expected to announce a “Reality Pro” headset … Read more
Morgan Stanley strategists expect a sudden drop in corporate earnings to put the brakes on a US equity rally, a move that contradicts Wall Street estimates. Instead, they are bullish on equities in Japan, Taiwan and South Korea and recommend an overweight position in developed market government bonds, including long-dated government bonds, and the dollar.
China’s recent economic slowdown is largely due to “premature” withdrawal of policy support, Macquarie’s Chief China Economist Larry Hu said in a report Friday. He expects policymakers to remain accommodative and pave the way for a broader recovery. That means that while China appears to be on the verge of Japanese-style stagnation, the situation is … Read more
4 minutes ago Oil prices rise more than 2% after Saudi Arabia pledged more production cuts Oil prices rose after OPEC queen Saudi Arabia decided to cut production by another million barrels per day. Global benchmark Brent futures rose 2.4% to $78 a barrel on Monday during early trading in Asia, while US West Texas … Read more
Traders on the floor of the NYSE, July 12, 2022. Source: NYSE US stock futures were little changed Sunday evening after a broad rally last week that pushed the S&P 500 to its best week since March and the highest level since last August. Futures linked to the Dow Jones Industrial Average added 75 points. … Read more
The influential Organization of Petroleum Exporting Countries met in Vienna on Sunday to smooth out next steps in production as global oil prices remain under pressure from broader macroeconomic concerns. During the discussions, concrete reductions in production as well as changes in the base levels that determine the output level of each participant were discussed. … Read more
Four sources familiar with the OPEC+ discussions told Reuters additional production cuts were being discussed as options for Sunday’s session. Three of the four sources said cuts could be as much as 1 million bpd on top of existing 2 million bpd cuts and voluntary cuts of 1.6 million bpd, announced in a surprise move … Read more
CNBC’s Jim Cramer told investors on Friday to remain bullish for the week ahead, even as the market begins to cool. After a surprisingly painless debt ceiling resolution and a strong labor report, Cramer knows it’s tempting to think of the next week as a “Goldilocks” situation where everything seems to be going just right. … Read more
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17 minutes ago French production ticks higher Manufacturing activity in France rose 0.7% in April, after falling 1.1% in the previous month, official statistics showed. Total industrial activity increased by 0.8% Production over the period February-April was also 1.6% higher than a year ago. However, the French statistics agency Insee said energy-intensive industries are still … Read more
