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Articles related to "commodity"


Stock Futures Rise as Tech Leads Charge

  • U.S. stock futures rose on strong earnings and renewed investor enthusiasm for big technology companies.
  • Futures tied to the tech-heavy Nasdaq-100 led markets, rising 0.4%, indicating the index may climb further after notching its third record high this year on Wednesday.
  • Contracts tied to the broader S&P; 500 rose 0.2%, and those linked to the Dow Jones Industrial Average edged up 0.1%.
  • Railroad operator Union Pacific will post earnings before the opening bell, along with several regional banks, including KeyCorp and Fifth Third Bancorp.
  • Chip giant Intel and International Business Machines are slated to announce quarterly results after markets close.
  • Investors are watching earnings closely to see if they support the strong run across markets in recent months.
  • Many have bet on an economic recovery this year, as Covid-19 vaccinations ramp up, increasing prospects for future earnings.

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Global Stocks Follow Wall Street Higher

  • U.S. stock futures followed international indexes higher after Wall Street closed at a record on a batch of upbeat earnings reports.
  • S&P; 500 futures ticked up 0.2% Thursday, while tech-heavy Nasdaq-100 futures added 0.4%.
  • The Stoxx Europe 600 gained 0.7% in morning trade.
  • Industrials and materials sectors led gains while the energy sector lost ground.
  • Kion Group jumped 2.3% for a two-session run of gains and Rotork added 2.3%.
  • The U.K.’s FTSE 100 rose 0.5%, France’s CAC 40 gained 0.5% and Germany’s DAX added 0.7%.

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Stock Futures Rise Ahead of Big Earnings Day

  • U.S. stock futures edged higher ahead of a busy day of earnings reports and the inauguration of Joe Biden as the 46th president.
  • Futures tied to the S&P; 500 rose 0.4% Wednesday, while contracts linked to the tech-heavy Nasdaq-100 rose 0.8%.
  • Dow Jones Industrial Average futures were up 0.2%.
  • Earnings from Morgan Stanley , Procter & Gamble , UnitedHealth and U.S. Bancorp are due before the opening bell.
  • United Airlines will release its earnings just after markets close.
  • Stocks have begun the week on an upbeat note, with all three major indexes hovering just below their record highs.
  • Investors remain optimistic that fiscal stimulus is supporting businesses through the damage wrought by the Covid-19 pandemic.
  • That will put pressure on companies to deliver during this earnings season and meet the market’s expectations, said Brian O’Reilly, head of market strategy at Mediolanum Investment Funds.

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After 144 Years, London Metal Exchange Proposes Closing Trading Ring

  • LONDON—The London Metal Exchange is proposing closing its open-outcry ring, where traders have swapped metals like copper and lead using shouts and hand signals for 144 years, in a bid to attract more financial players.
  • The ring began life when the LME was founded above a London hat shop in 1877, though its origins date to sawdust circles around which merchants bought and sold metals in the early 1800s, when they were in high demand as the industrial revolution gathered steam.
  • The LME said Tuesday that electronic pricing had served the market well during the pandemic and brought greater transparency around the way that prices are set.
  • It also said the closure would attract a broader group of participants to the market, beyond the physical-metal players that tend to favor the ring over the LME’s electronic platform.

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When Investors Forget Fundamentals, the Market Is Broken

  • Sometimes it’s hard to argue that market capitalism has any chance of correctly allocating money to the companies that can use it best.
  • Case in point: Stock-market performance this year has been driven by the raw share price, with lower-priced stocks doing better and higher-priced worse.
  • I repeat: The best explanation for how stocks have moved so far this year is the price of the stock, an almost meaningless number.
  • It looks remarkably like investors are treating a low-price share as an indicator that the stock is a bargain, and a higher price as a sign that it is worse value for money.
  • Equally, it can consolidate its shares to reduce the number, increasing the share price but again without any effect on how much the company should be worth.

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U.S. Corporate-Bond Rally Rolls Into 2021

  • As of Thursday, the average extra yield, or spread, investors demanded to hold investment-grade corporate bonds over U.S. Treasurys was 0.93 percentage points, according to Bloomberg Barclays data.
  • The move reflects investors’ growing confidence that highly rated U.S. companies will endure the pandemic, boosted by vaccine rollouts, economic stimulus and easy money from the Federal Reserve.
  • Spreads had widened sharply during 2020’s early year market turmoil, when many investors feared the pandemic would spark a wave of defaults and bankruptcies, fueling losses in corporate debt.
  • The Fed’s intervention, which included cutting interest rates and buying billions of dollars worth of bonds, helped fuel a recovery.
  • With rates near zero, investors chased extra yield in the investment-grade market, helping companies refinance their debt at lower interest rates and raise record amounts of cash to protect balance sheets from the pandemic’s blows.

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U.S. Stock Futures Rise Ahead of Yellen’s Testimony

  • U.S. stock futures and international indexes were broadly higher Tuesday ahead of Janet Yellen’s testimony before a Senate committee where she is expected to support higher spending on coronavirus relief.
  • Futures tied to the S&P; 500 gained 0.6%, and contracts linked to the Nasdaq-100 advanced 0.9%.
  • The Stoxx Europe 600 gained 0.4% in morning trade.
  • Energy and industrials sectors led gains while the consumer discretionary sector lost ground.
  • EasyJet added 2.7%.
  • John Wood Group declined 3.1%.
  • The U.K.’s FTSE 100, which is dominated by large international businesses, rose 0.6%.

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Global Stocks Pause as Investors Await Earnings Flurry

  • Global stocks were mixed and U.S. stock futures paused on Monday, as investors awaited a busy week of corporate earnings, economic data and central-bank decisions.
  • U.S. stock and bond markets are closed Monday for Martin Luther King Day. Stocks have wobbled in recent days after a strong start to the year fueled by hopes of a vaccine-induced economic recovery that could be aided by further fiscal stimulus under the incoming administration.
  • Though many investors expect the rally to continue, they say stocks are likely to remain bumpy in the coming weeks amid signs that high coronavirus case rates are hurting economic activity.
  • Monetary-policy decisions by the European Central Bank and Bank of Japan are also on tap, as well as surveys that will give an indication of business activity at the start of the year.

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Yellen to Make Clear U.S. Doesn’t Seek Weak Dollar

  • WASHINGTON—Janet Yellen is expected to affirm the U.S.’s commitment to market-determined exchange rates when she testifies on Capitol Hill Tuesday, and she will make clear the U.S. doesn’t seek a weaker dollar for competitive advantage, according to Biden transition officials familiar with her hearing preparation.
  • The remarks would represent a return to the U.S.’s hands-off approach to the dollar, which President Trump had deviated from by often publicly calling for a lower dollar.
  • Ms. Yellen, the former Federal Reserve chairwoman, is set to appear before the Senate Finance Committee Tuesday as it considers her nomination to be the next U.S. Treasury secretary, succeeding Steven Mnuchin.
  • Ms. Yellen is also expected to say the intentional targeting of exchange rates to gain an unfair advantage in trade is unacceptable.

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Yellen Prepared to Affirm Commitment to Market-Determined Dollar Value

  • WASHINGTON—Janet Yellen is expected to affirm the U.S.’s commitment to market-determined exchange rates when she testifies on Capitol Hill Tuesday, and she will make clear the U.S. doesn’t seek a weaker dollar for competitive advantage, according to Biden transition officials familiar with her hearing preparation.
  • The remarks would represent a return to the U.S.’s hands-off approach to the dollar, which President Trump had deviated from by often publicly calling for a lower dollar.
  • Ms. Yellen, the former Federal Reserve chairwoman, is set to appear before the Senate Finance Committee Tuesday as it considers her nomination to be the next U.S. Treasury secretary, succeeding Steven Mnuchin.
  • Ms. Yellen is also expected to say the intentional targeting of exchange rates to gain an unfair advantage in trade is unacceptable.

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