Breaking Stock Market and Financial News

New Jersey's Christie mulls run to lead Republican Party: report

Top Reuters News - Thu, 12/01/2016 - 14:19
WASHINGTON (Reuters) - New Jersey Governor Chris Christie, an early supporter of U.S. President-elect Donald Trump, is considering a run to lead the Republican National Committee, Politico reported on Thursday.

Exclusive: How Putin, Khamenei and Saudi prince got OPEC deal done

Top Reuters News - Thu, 12/01/2016 - 14:06
VIENNA (Reuters) - Russian President Vladimir Putin played a crucial role in helping OPEC rivals Iran and Saudi Arabia set aside differences to forge the cartel's first deal with non-OPEC Russia in 15 years.

Cold weather will lift apparel-store sales by $107 mln next week: Planalytics

MarketWatch Market Pulse - Thu, 12/01/2016 - 14:05

Weather analytics company Planalytics forecasts that a cold blast of air from Dec. 5 through Dec. 11 moving from the West Coast to the East Coast will provide a $107 million lift in apparel-store sales on a year-over-year basis. Planalytics said it believes the cold temperatures will reach major cities in the East by the weekend. "For many markets, temperatures will be below normal and below the freezing point as well," the organization wrote in a news alert. December 2015 was the warmest in more than 120 years, Planalytics said. The warm temperatures hurt sales at retailers like Macy's Inc. , which are hoping for more seasonable weather this holiday season. There's a risk of snow in Canada and across the northern U.S. as well, which "will drive demand for snow throwers, ice melt shovels, firewood and warm foods," said Planalytics.

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Gold prices slip lower following November rout

MarketWatch Market Pulse - Thu, 12/01/2016 - 13:55

Gold prices settled lower Thursday, following their worst monthly slide in more than three years, as investors shunned safe-haven assets. Gold for February delivery settled down $4.50, or 0.4%, at $1,169.40 an ounce, while the SPDR Gold Trust ETF declined 0.3%. Silver ticked slightly higher as the March contract for the metal settled up 2.4 cents, or 0.1%, at just under $16.51 an ounce.

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Oil ETFs on track for best weekly gain in 16 months

MarketWatch Market Pulse - Thu, 12/01/2016 - 13:37

Major exchange-traded funds pegged to moves in crude oil are on track for their biggest weekly gain in more than a year, boosted as OPEC unexpectedly reached a deal to cut production - a move that could address the commodity's oversupply and help stabilize prices. Crude oil has surged 11% this week, as have the United States Oil Fund LP and the iPath S&P GSCI Crude Oil Total Return Index exchange-traded note . Among other funds, the United States 12 Month Oil Fund LP is up 8.6% for the week while the PowerShares DB Oil Fund has climbed 10.2%. The VelocityShares 3x Long Crude ETN a triple leveraged fund that offers 300% of the daily move of its underlying index, has skyrocketed about 32% thus far this week. In all the cases, they are on track for their best weekly performance since August 2015. On Wednesday, the Organization of the Petroleum Exporting Countries and other major oil producers reached a deal to curb daily oil production by 1.2 million barrels a day, bringing it to a ceiling of 32.5 million barrels.

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NYSE breadth data telling two different stories, again

MarketWatch Market Pulse - Thu, 12/01/2016 - 13:27

If the stock market looks a bit schizoid Thursday, that's because NYSE breadth data are telling two very different stories. The number of declining stocks on the big board were beating advancers by a score of 1,797 to 1,159. However, volume in advancing stocks was about 55% of total volume, with up volume leading down volume 308.4 million shares to 257.9 million shares. Big board breadth told a similar mixed story on Wednesday. Meanwhile, the Dow Jones Industrial Average was up 42 points in afternoon trade, while the S&P 500 was down 0.4%. The Nasdaq exchange was more in line, with decliners leading advancers 3,959 to 2,553 and down volume beating up volume 399.1 million shares to 283.4 million shares. The Nasdaq Composite slumped 1.4%.

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Goldman, Chevron stock surges are keeping the Dow positive

MarketWatch Market Pulse - Thu, 12/01/2016 - 13:10

There are two key reasons the Dow Jones Industrial Average is still up, when the other major market indexes are down--Goldman Sachs Group Inc. and Chevron Corp. . Goldman's stock soared $4.78, or 2.2%, to a nine-year high, as the continued climb Treasury yields spurred further buying in financial stocks. Chevron shares jumped $3.16, or 2.8%, to a two-year high, as crude oil prices extended their surge above the $50-a-barrel mark. Those two stocks were adding 54 points to the Dow, which was up 42 points in afternoon trade. Meanwhile, the S&P 500 was down 0.4%, the Nasdaq Composite Index was shedding 1.4% and the Russell 2000 Index fell 0.5%.

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Salesforce leads tech-sector stock sell-off

MarketWatch Market Pulse - Thu, 12/01/2016 - 12:57

Shares of technology stocks sold-off sharply across-the-board on Thursday, with Oracle Corp. and Salesforce Inc. among the biggest laggards. The Technology Select Sector SPDR Fund , a tech industry-focused ETF, fell 2% in afternoon trade, while the Nasdaq Composite fell 1.2% and the tech-heavy PowerShares QQQ Trust fell 1.6%. Shares of Salesforce dropped 3.9% to $69.22 in afternoon trade, while Oracle's tumbled 3.5% to $38.80. Among the other major decliners were Qualcomm Inc. , down 3.2%, and Facebook Inc. , down 2.8% to $115.07. Apple Inc. was also in the red, but only by half-a-percentage-point, trading around $109.83.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Gundlach: Market rally could reverse 'at the latest' by Trump's inauguration

Reuters Us Markets - Thu, 12/01/2016 - 12:54
NEW YORK, Dec 1 (Reuters) - Financial markets could reverse the solid momentum in equities at the latest by U.S. President-elect Donald Trump's Jan. 20, 2017 inauguration, Jeffrey Gundlach, chief...

U.S. watchdog says Abengoa unit's reorganization violates law

Reuters Us Markets - Thu, 12/01/2016 - 12:52
CHICAGO, Dec 1 (Reuters) - A Chapter 11 bankruptcy exit plan by Abengoa SA's main U.S. subsidiary, Abeinsa Holding Inc, violates the law by shielding the Spanish renewable energy parent from...

BRIEF-Visa says agrees to buy CardinalCommerce

Reuters Us Markets - Thu, 12/01/2016 - 12:50
* Says agreement to acquire e-commerce payment authentication company CardinalCommerce; financial terms of the transaction are not disclosed

BRIEF-BMW of North America LLC reports Nov total group new vehicle sales of 30,696 vehicles

Reuters Us Markets - Thu, 12/01/2016 - 12:47
* BMW of North America LLC - reports NOV total group new vehicle sales of 30,696 vehicles, down 15.8 percent

BRIEF-Gain Capital says GTX's ECN November ADV of $10.3 bln

Reuters Us Markets - Thu, 12/01/2016 - 12:47
* GTX's ECN achieved a record average daily volume (ADV) of $10.3 billion during month of November 2016 Source text for Eikon: Further company coverage:

UPDATE 3-Mexico cenbank chief to quit amid worries about Trump impact

Reuters Us Markets - Thu, 12/01/2016 - 12:47
MEXICO CITY, Dec 1 (Reuters) - Mexican Central Bank Governor Agustin Carstens will stand down in July amid rising doubts about the direction of Latin America's No. 2 economy following the election of...

UPDATE 1-Texas mortgage companies, founder must pay $93 million in fraud case -jury

Reuters Us Markets - Thu, 12/01/2016 - 12:46
NEW YORK, Dec 1 (Reuters) - A federal jury has ordered two Texas-based home mortgage entities and their chief executive to pay nearly $93 million for defrauding the U.S. government into insuring...

BRIEF-Kia Motors America says Nov sales of 52,504 units, up 15.3 pct

Reuters Us Markets - Thu, 12/01/2016 - 12:46
* November sales of 52,504 units, a 15.3 percent increase over the same period last year Source (http://bit.ly/2gqtnvc) Further company coverage:

U.S. veterans head to pipeline protest camp in North Dakota

Top Reuters News - Thu, 12/01/2016 - 12:42
CANNON BALL, N.D. (Reuters) - U.S. military veterans were arriving on Thursday at a camp to join thousands of activists braving snow and freezing temperatures to protest a pipeline project near a Native American reservation in North Dakota.

BRIEF-S&P says Virgin Islands public finance authority GRT notes rating lowered to 'B'

Reuters Us Markets - Thu, 12/01/2016 - 12:42
* Virgin Islands public finance authority GRT notes rating lowered to 'B' on deteriorating economic and fiscal conditions Source (http://bit.ly/2gDyvtw)

BRIEF-Teamsters says raised objections to XPO Logistics' proposed 2016 omnibus incentive compensation plan

Reuters Us Markets - Thu, 12/01/2016 - 12:41
* In letter to xpo logistics' board, teamsters raised objections to co's proposed 2016 omnibus incentive compensation plan Source text for Eikon: Further company coverage:

Facebook developing artificial intelligence to flag offensive live videos

Top Reuters News - Thu, 12/01/2016 - 12:07
MENLO PARK, Calif. (Reuters) - Facebook Inc is working on automatically flagging offensive material in live video streams, building on a growing effort to use artificial intelligence to monitor content, said Joaquin Candela, the company’s director of applied machine learning.

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