U.S. equity index futures were lower this morning. S&P 500 future slipped 10 points in pre-opening trade.Focus today is on FOMC meeting minutes to be released at 2:00 PM EDT. More information on the Federal Reserve's plan to increase the Fed Fund Rate is expected.Resolute Forest Products gained $8.04 to US$20.53 after Domtar offered to purchase the company for $20.50 per share. Value of the of...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 41 points in pre-opening trade. Alphabet $GOOG slipped $19.75 to $2,155.00 after Moness lowered its target price from $3,500 to $2,900.Shopify slipped $0.42 to US$30.99 after Truist lowered its target price from $45 to $35.General Motors dropped $0.54 to $31.65 after JP Morgan lowered its target price from $71 to $64....Read More
(Adds detail on potential of new partners) By Saliou Samb CONAKRY, July 4 (Reuters) - Guinea's mines minister hasordered all work related to the Simandou iron ore mine projectto be halted after the two companies involved missed an extendeddeadline to agree on a joint venture, a letter seen by Reutersshowed on Monday.Rio Tinto's Guinea subsidiary Simfer SA andChinese-backed consortium Winning Conso...Read More
to our United States of America readers. The Bottom LineBase building patterns by U.S. and Canadian equity indices continue. Historically, broadly based North American equity indices reach the bottom of the U.S. Presidential cycle in June during the second year of the President's mandate. History is repeating. Earnings and Revenue Outlook for S&P 500 companiesConsensus earnings esti...Read More
(Updates prices, adds U.S. manufacturing) By Eric Onstad LONDON, July 1 (Reuters) - Copper prices slumped on Fridayto their weakest in 17 months as inflation and factory datareinforced fears that central bank tightening would pusheconomies into a recession and hit metals demand. Three-month copper on the London Metal Exchange hadeased 2.6% to $8,047 a tonne by 1630 GMT after dropping to itslowest...Read More
Happy Canada DayU.S. equity index futures were lower this morning S&P 500 futures were down 16 points in pre-opening trade. Economic focus today is on release of the June ISM Manufacturing PMI report at 10:00 AM EDT. Consensus calls for a decline to 55.0 from 56.1 in May.Micron dropped $2.78 to $52.50 after the company lowered sales and revenue guidance. Kohl's dropped $6.59 to $29.10 after ta...Read More
Tech Talk will be available tomorrow July 1st and Monday July 4thPre-opening Comments for Thursday June 30thU.S. equity index futures were lower this morning. S&P 500 futures were down 41 points in pre-opening trade.Index futures recovered slightly following release of the May PCE Price Index at 8:30 AM EDT. Consensus was an annual increase of 6.6% versus a gain of 6.3% in April. Actual was a...Read More
(Updates prices) LONDON, June 29 (Reuters) - Copper prices held near 16-monthlows on Wednesday as investors weighed the risk that rapidinterest rate rises will reduce global economic growth andmetals demand.Industrial metals have tumbled alongside stock markets ascentral bankers stepped up talk of action to containdecades-high inflation. Benchmark copper on the London Metal Exchange (LME)was up 0....Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade. Index futures were virtually unchanged following release of an update on U.S. annualized first quarter real GDP at 8:30 AM EDT. Consensus was unchanged at a deficit of 1.5%. Actual was a deficit of 1.6%.Couche-Tard dropped $1.96 to Cdn$53.38 after the company reported less than consensus...Read More
(Recasts first paragraph, updates prices and dollar bullet) By Pratima Desai LONDON, June 28 (Reuters) - Copper prices slipped on Tuesdayas the dollar rose and recession concerns were back in focus,but hopes for stronger demand after top consumer China relaxedits COVID-19 quarantine mandates provided some support. Benchmark copper on the London Metal Exchange wasdown 0.6% at $8,366 a tonne as of 1...Read More
U.S. equity index futures were higher this morning. S&P 500 futures added 11 points in pre-opening trade.Goldman Sachs added $3.22 to $304.00 after the company raised its dividend by 25%. Wells Fargo advanced $0.23 to $40.47 after the company raised its dividend by 20%.State Street dropped $0.51 to $64.70 after Deutsche Bank downgraded the stock from Buy to Hold.Ovintiv gained $2.50 to US$49.7...Read More
U.S. equity index futures were higher this morning. S&P 500 futures gained 5 points in pre-opening trade.Index futures were virtually unchanged following release of the May Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 0.1% versus a gain of 0.5% in April. Actual was an increase of 0.7%. Excluding transportation orders, consensus was an increase of 0.4% versus a gain...Read More
U.S. equity index futures were higher this morning. S&P 500 futures added 27 points in pre-opening trade. Traders are waiting for release of May U.S. New Home Sales at 10:00 AM EDT. Consensus is a slip to 587,000 units from 591,000 units in April.FedEx advanced $5.77 to $233.90 after reporting higher than consensus fourth quarter revenues and earnings. The company also offered positive guidanc...Read More
U.S. equity index futures were higher at 7:30 AM EDT. S&P 500 futures were up 31 points in pre-opening trade.Federal Reserve Chairman continues his testimony today at 10:00 AM EDT before a House of Representative CommitteeTesla slipped $1.77 to $706.49 after Morgan Stanley lowered its target price from $1300 to $1200. Also, the company announced plans to increase production in China.KB Homes a...Read More
(Adds union statement about detained workers and suspension oftalks) By Natalia A. Ramos Miranda and Fabian Cambero SANTIAGO, June 22 (Reuters) - Workers at Chilean state-ownedmining giant Codelco, the world's largest copper producer,launched a major strike on Wednesday to protest the closure of asmelter over environmental issues, though the governmentdownplayed the impact on operations. The Feder...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 61 points in pre-opening trade. Investors are waiting for testimony on monetary policy by Federal Reserve Chairman Powell to Congressional leaders today and tomorrow starting at 10:00 AM EDT. The Canadian Dollar was virtually unchanged at US77.06 cents following release of Canada's May Consumer Price Index at 8:30 AM...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 57 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US77.27 cents following release of Canada's April Retail Sales report at 8:30 AM EDT. Consensus was an increase of 0.8% versus a gain of 0.2% in March. Actual was an increase of 0.8%.Spirit Airlines advanced $1.92 to $23.20 after Jet Blue rai...Read More
(New throughout, adding Vale and BHP statement saying Samarcois not for sale, sources confirming talks and creditorsresponding to criticism of its restructuring plan) By Tatiana Bautzer SAO PAULO, June 20 (Reuters) - Miners Vale SA andBHP Group said in a joint statement on Mondaythey are not interested in selling their joint venture Samarco,after reports of the interest of Brazilian steelmaker Com...Read More
Editor's Note Tech Talk will appear on Monday despite the U.S. holiday.U.S. equity index futures were higher this morning. S&P 500 futures were up 34 points in pre-opening trade.Volume in U.S. equity markets are expected to be higher than average. Today is quadruple witching day when September equity and index options and September equity and index futures record their last trade date.Ad...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 84 points at 7:30 AM EDT. Index futures are responding to expectations that the Bank of England will increase its overnight lending rate today.U.S. equity index futures were waiting for release of economic news at 8:30 AM EDT. Consensus for the June Philly Fed Index is an increase to 5.3 from 2.6 in May. Consensus for...Read More