Market News

US Crude Inventories Post Bigger Weekly Increase Than Expected

US crude stockpiles jumped by more than expected in the week, government data showed, adding to pressures on futures of the commodity which spiraled lower in Wednesday’s session. West Texas Intermediate, the main US variety, was down 3.7% to $64.57 a barrel at the time of writing, erasing all of the gains it made in July. Brent, the international standard, […]

Wall Street Unnerved By Turkey

Stocks went back on the defensive and suffered outsized losses Wednesday when worries surrounding Turkey and its influence on emerging markets rattled global investors and drove the Dow Jones Industrial Average down by more than 300 points, its largest one-day loss in nearly two months. Investors ignored a rebound in the Turkish lira and bullish US economic data to focus […]

Canopy Growth Soars 29% as Constellation Brands Makes $3.8 Bln Strategic Investment in Company

Shares of Canopy Growth (CGC) surged by 29% intraday after the company and Constellation Brands (STZ) said Wednesday that they expanded their strategic partnership in a bid to position Canopy Growth as a global leader in cannabis production, branding, intellectual property and retailing. The alcoholic beverage company said that it will raise its ownership interest in Canopy Growth by acquiring […]

European Equity Benchmarks Close Sharply Lower; Mining, Automotive, Bank Stocks Saddle Markets

The broad-based major European indices closed lower in Wednesday trading as mining, automotive and bank stocks burdened the markets In economic news, the UK’s consumer prices index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 2.3% in July, unchanged from June 2018, while the consumer prices index (CPI) 12-month rate was 2.5% for the month, up from 2.4% […]

European Equity Benchmarks Close Mixed; Investors Favor Retailers, Shun Energy Stocks

European Equity Benchmarks Close Mixed; Investors Favor Retailers, Shun Energy Stocks

The broad-based major European indices closed mixed in Thursday trading as the continental markets rose, while the London exchanged moved lower. In economic news, the Organization for Economic Co-operation and Development (OECD) reported that composite leading indicators (CLIs), which are designed to anticipate turning points in economic activity, are pointing to easing growth momentum in the euro area as a […]

Viacom Reports Mixed Results as Advertising Dips, Paramount Pictures Gains

Viacom Reports Mixed Results as Advertising Dips, Paramount Pictures Gains

Viacom (VIA, VIAB) reported downbeat revenue for the fiscal third quarter as advertising revenue decreased, but earnings came in better than expected, and the entertainment company cheered growing profitability in its Paramount Pictures division. Revenue fell 4% to $3.24 billion, missing the consensus on Capital IQ for $3.27 billion. Adjusted diluted earnings rose by a penny to $1.18 a share, […]

Producer Price Inflation Misses Expectations

Producer price inflation was flat in July, coming in below expectations as the measure of final demand services contracted for the first time since December. The flat reading for last month compares with an advance of 0.3% in June and the consensus on Econoday for another rise of 0.3%. Year-on-year, PPI rose 3.3%, slightly slower than the 3.4% pace of […]