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Global financial news, market analysis, economics and forex news
- Stocks Close Mostly Higher But Well Off Best Levels - U.S. Commentary
- Fri, 21 Nov 2014 21:24:49 GMT - While stocks moved sharply higher at the start of trading on Friday, buying interest waned not long after the open. The major averages subsequently pulled back well off their highs for the session but managed to close in positive territory.
- Crude Oil Ends Higher After China Rate Cut, Draghi Comments
- Fri, 21 Nov 2014 19:59:11 GMT - U.S. crude oil ended higher for a second straight session Friday, as China moved to prop up its sagging economy with an unexpected interest rate cut and on comments by European Central Bank President Mario Draghi on additional stimulus, notwithstanding a strong dollar.
- Gold Ends Higher On China Rate Cut
- Fri, 21 Nov 2014 19:04:20 GMT - Gold futures snapped a two-day loss to end higher on Friday, after China's central bank unexpectedly slashed its key interest rates for the first time in more than two years in a bid to boost sagging growth momentum.
- House Republicans File Lawsuit Against Obama Administration
- Fri, 21 Nov 2014 19:04:19 GMT - On the heels of President Barack Obama's controversial decision to take executive action on immigration, House Republicans have filed a lawsuit over the president's unilateral actions on the healthcare reform law known as Obamacare.
- Stocks Give Back Ground But Remain Mostly Positive - U.S. Commentary
- Fri, 21 Nov 2014 17:03:04 GMT - After moving sharply higher at the start of trading on Friday, stocks have given back some ground over the course of the session. The major averages have pulled back well off their highs for the session but remain in positive territory.
- Poll Shows Progressives Favor Warren Over Clinton By Wide Margin
- Fri, 21 Nov 2014 16:26:06 GMT - Massachusetts Sen. Elizabeth Warren, D-Mass., has repeatedly stated she does intend to run for the Democratic presidential nomination in 2016, but the results of a new Democracy for America poll suggest she is the clear choice among progressives.
- Hanesbrands In Focus - Research Report
- Fri, 21 Nov 2014 15:27:38 GMT - This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results.
- Overseas Stimulus News Leads To Early Strength On Wall Street - U.S. Commentary
- Fri, 21 Nov 2014 15:19:21 GMT - With traders expressing optimism about overseas stimulus, stocks moved sharply higher at the start of trading on Friday. The Dow and the S&P 500 jumped to new record highs, although buying interest has waned since the open.
- Volkswagen To Invest EUR 85.6 Bln Over Five Years
- Fri, 21 Nov 2014 15:09:21 GMT - German auto giant Volkswagen AG said Friday that it will invest 85.6 billion euros, or about $106 billion, in new models, environmentally friendly technologies and production facilities over the next five years. Volkswagen noted that more than half of the investments, or about 56 percent, will be in property, plant and equipment in Germany.
- 15 Arrested Across Europe For Computer Hijacking
- Fri, 21 Nov 2014 14:23:53 GMT - Fifteen people have been arrested in an international operation across Europe targeting users of software designed to remotely hijack and steal information from computers. Five of them were arrested in the UK while the other arrests were made in Estonia, France, Romania, Latvia, Italy, and Norway. Coordinated through Europol, raids were carried out over several days focused on the threat posed by
- Stocks May Open Sharply Higher On Chinese Rate Cut - U.S. Commentary
- Fri, 21 Nov 2014 13:57:20 GMT - Stocks are likely to show a strong move to the upside at the start of trading on Friday, adding to the gains posted in the previous session. The major index futures are currently pointing to a sharply higher open for the markets, with the Dow futures up by 145 points.
- Foot Locker Q3 Profit Up 15%, Beats View
- Fri, 21 Nov 2014 13:20:53 GMT - Athletic apparel and footwear retailer Foot Locker, Inc. Friday reported a 15 percent increase in profit for the third quarter from last year, reflecting higher sales and improved margins. Sales at established stores grew 6.9 percent. Both adjusted earnings per share and sales topped analysts' expectations.
- China Cuts Interest Rates For First Time Since 2012
- Fri, 21 Nov 2014 12:49:04 GMT - China's central bank on Friday unexpectedly cut its key interest rates for the first time in more than two years in a bid to boost sagging growth momentum. The People's Bank of China reduced the one-year lending rate by 40 basis points to 5.6 percent. The one-year deposit rate was cut by 25 basis points to 2.75 percent.
- Investors In Buoyant Mood As Draghi Reiterates Pledge
- Fri, 21 Nov 2014 11:35:30 GMT - Early indications suggest that Wall Street stocks may open sharply higher on Friday, as traders cling onto their optimism. Asian stocks closed mostly higher earlier in the global trading day, while the European markets are also seeing significant strength following European Central Bank President Mario Draghi's dovish speech at the Frankfurt European Banking Congress.
- Another Day, Another Tainted Product...
- Fri, 21 Nov 2014 09:56:53 GMT - The FDA is warning consumers not to use "Feng Shi Ling," a product promoted and sold as an herbal medication for arthritic pain associated with rheumatoid arthritis and osteoporosis, as it has been found to contain undeclared drug ingredients.
- Asian Stocks Erase Early Losses
- Fri, 21 Nov 2014 09:08:51 GMT - Asian stocks recouped early losses to end mostly higher on Friday after Japanese Prime Minister Shinzo Abe dissolved the lower house of parliament for an election and China's central bank reportedly injected funds to boost liquidity in the banking system. Upbeat U.S. data showing broad economic strength and a rebound in oil prices also helped investors shrug off renewed worries about the outlook for the eurozone economy.
- Earnings After The Bell Nov 20
- Fri, 21 Nov 2014 07:46:39 GMT - Here is a quick summary of the earnings reported after the bell on Nov 20.
- European Stocks Set For Flat Start
- Fri, 21 Nov 2014 07:11:15 GMT - European stocks look set to open flat to slightly lower on Friday, although commodity-related shares may rebound after recent losses as traders take advantage of a pause in the dollar rally.
- Asian Markets Trade Weak
- Fri, 21 Nov 2014 04:00:26 GMT - Asian stock markets are mostly trading lower on Friday, with investors treading cautiously amid worries about the global economy on the back of recent weak data out of eurozone and China. Fairly upbeat data out of the U.S. and a recovery in oil prices are limiting the downside to some extent.
- Intuit Q1 Loss Narrows, Tops Estimates
- Thu, 20 Nov 2014 23:17:58 GMT - Accounting software maker Intuit said its loss for the first quarter widened, despite an increase in revenue, hurt by expenses, while the prior year included one-time gains. However, the quarterly loss was smaller than Wall Street estimates with revenues surpassing expectations.
- Autodesk Profit Tops Estimate
- Thu, 20 Nov 2014 23:12:25 GMT - Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
- Gap Q3 Profit Rises, But Misses View; Cuts FY Outlook
- Thu, 20 Nov 2014 22:52:58 GMT - Apparel retailer Gap Inc. (GPS), on Thursday reported an increase in profit for the third quarter, reflecting lower tax rate and decline in sales costs. Nevertheless, revenues for the quarter dropped from last year, hurt mostly by the continued weak sales at its namesake brand. Both earnings and revenues for the quarter came in short of Wall Street estimates.
- Stocks Close Higher After Recovering From Initial Weakness - U.S. Commentary
- Thu, 20 Nov 2014 21:22:50 GMT - After recovering from an early move to the downside, stocks moved mostly higher over the course of the trading day on Thursday. With the gains on the day, the Dow and the S&P 500 once again reached new record closing highs.
- Former Sen. Jim Webb Launches 2016 Exploratory Committee
- Thu, 20 Nov 2014 20:41:31 GMT - Former Virginia Senator Jim Webb has taken the first step toward running for president in 2016 by launching an exploratory committee. Webb would likely be a significant underdog to Hillary Clinton for the Democratic nomination but is the first candidate from either of the two major parties to officially move toward a campaign.
- Republicans Launch Preemptive Attacks Against Obama's Immigration Speech
- Thu, 20 Nov 2014 20:14:28 GMT - As President Barack Obama prepares to deliver a primetime speech on immigration, Republicans have already begun attacking the executive action the president is expected to announce. Many GOP lawmakers have pointed to Obama's past statements suggesting that he does not have the authority to take the proposed action.
- Crude Oil Ends Above $75 Ahead Of OPEC Meet
- Thu, 20 Nov 2014 19:59:35 GMT - U.S. crude oil rebounded to end sharply higher Thursday, on some upbeat economic data from the U.S., amid mounting speculation the OPEC may cut production to keep a check on prices at its meeting in Vienna next week. Nevertheless, some OPEC members have indicated they would rather keep production high and cut prices than reduce output.
- Gold Ends Lower On Some Upbeat Data
- Thu, 20 Nov 2014 18:55:37 GMT - Gold futures ended lower for a second straight session on Thursday, after a slew of mostly encouraging economic data from the U.S., including weakly jobless claims and a report on consumer price inflation.
- Stocks Holding On To Gains After Recovering From Initial Drop - U.S. Commentary
- Thu, 20 Nov 2014 17:06:05 GMT - Stocks have shown a significant turnaround over the course of the trading day on Thursday after coming under pressure at the open. The major averages have climbed well off their worst levels of the session and into positive territory.
- U.S. Leading Economic Index Rises 0.9% In October, More Than Expected
- Thu, 20 Nov 2014 16:32:33 GMT - Pointing to continued economic growth through the holiday season and into early 2015, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators rose by more than anticipated in the month of October.
- Philly Fed Index Soars To Highest Level In Over 20 Years
- Thu, 20 Nov 2014 16:22:17 GMT - After reporting a modest slowdown in the pace of growth in regional manufacturing activity in the previous month, the Federal Reserve Bank of Philadelphia released a report on Thursday showing that its index of manufacturing activity jumped to its highest level in over twenty years in November.