JD.com Inc (NASDAQ:JD) is buzzing this morning, after Bloomberg reported the Chinese e-tailer was preparing for its long-awaited foray onto U.S. soil later this year. The company is hoping to establish itself on the West Coast, and start online sales by the second half of 2018. JD.com is hoping to gain ground on Chinese rival Alibaba (BABA) and American e-commerce monster Amazon.com (AMZN). Again...Read More
By Jonathan SchwarzbergNEW YORK, Jan 26 (Reuters) - The US leveraged loan market has opened with a bang, allowing junk-rated companies such as food packaging company Crown Holdings to reduce pricing further amid strong demand for floating rate assets. Ba2/BB rated Crown Holdings had an investor count of more than 250 for its US$2.08bn cross-border loan, sources said, allowing it to cut pricing to...Read More
Transport stocks have taken a hit this week, following some lackluster airline earnings. As such, the Dow Jones Transportation Average (DJT) is pacing for a weekly loss of more than 2%. Considering the Dow Jones Industrial Average (DJI) is headed for a weekly win, some Dow Theory followers could be getting nervous at the divergence. Below, we take a look at how the transports and blue-chip indexes...Read More
Shares of Nike Inc (NYSE:NKE) earlier matched yesterday's all-time high of $68.64, and at last check, the Dow component was up 1% at $68.36. The move comes after infamous investor Bill Ackman said his hedge fund Pershing Square has taken a passive position in Nike stock that has already netted a 30% return. This is just more positive momentum for NKE, which sports a year-to-date advance of 9.2% an...Read More
Jan 26 (Reuters) - The Baltic Exchange's main sea freight index , which tracks rates for ships carrying dry bulk commodities, on Friday marked its first weekly gain in three as rates for capesize and panamax vessels improved.* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 2 points, or 0.16 percent, at 1,219 points. It rose 8.4 perc...Read More
* Zloty and forint ease as Trump talks up dollar* Hungary yield curve steepens, central bank seen countering that* Czechs start presidential election, markets ignore it* Czech crown hits 5-year high, rate hike is expected (Adds crown surge to new five-year high)By Sandor PetoBUDAPEST, Jan 26 (Reuters) - The Czech crown hit a five-year high against the euro on Friday, bolstered by expectations of a...Read More
Shares of coffee chain Starbucks Corporation (NASDAQ:SBUX) are trading lower in early market action, after the company reported lower-than-expected fiscal first-quarter earnings. It also gave a tepid outlook for 2018, while executives added they're still evaluating how the tax law will affect the business. At last check, Starbucks stock was trading down 4.7% at $57.72, after receiving a slew of mi...Read More
* Q4 advance GDP estimate 2.6 pct vs est. 3 pct growth* Intel jumps after upbeat earnings, bullish forecast* Starbucks falls after sales forecast* Indexes up: Dow 0.17 pct, S&P 0.31 pct, Nasdaq 0.42 pct (Updates to open)By Sruthi ShankarJan 26 (Reuters) - The Dow Jones Industrial Average opened at a record high on Friday, powered by gains in chipmaker Intel, and the other main indexes were hig...Read More
MILAN, Jan 26 (Reuters) - Veteran Italian banker and former Industry Minister Corrado Passera has raised 600 million euros ($746 million) from investors with the aim of acquiring a small bank, a source with knowledge of the matter said.Passera, former chief executive of Intesa Sanpaolo for nearly a decade, raised the funds by launching a special purpose acquisition (SPAC) vehicle, a company that w...Read More
DAVOS, Switzerland, Jan 26 (Reuters) - Bank of England Governor Mark Carney said on Friday that markets are likely to be affected when central banks around the world raise interest rates, but that reforms to the financial system meant there would be limited impact on the real economy."What's the probability that there will be an adjustment in asset prices? Yup, that probability has gone up,&q...Read More
TORONTO, Jan 26 (Reuters) - Canada's main stock index fell on Friday as financial shares slipped, offsetting gains for gold stocks as gold prices rose.The Toronto Stock Exchange's S&P/TSX composite index fell 15.55 points, or 0.1 percent, to 16,188.46, shortly after the open. Six of the index's 10 main groups were lower. (Reporting by Fergal Smith Editing by Chizu Nomiyama) Disclaimer: The vi...Read More
Like mostAmerican males, I enjoy NFL Playoff football and have been an avid New EnglandPatriots fan since I was a kid. Weather you love them or hate them, they haveprovided a very well-played AFC Championship game the past seven consecutiveseasons. Unfortunately for mining junkies such as myself, the game is alwaysplayed on the first day of the Vancouver Resource Investment Conference (VRIC),so I...Read More
Jan 26 (Reuters) - Wall Street's main indexes opened higher on Friday as gains in Intel and AbbVie following strong earnings and a slide in dollar helped investors look past weaker-than-expected U.S. economic growth data.The Dow Jones Industrial Average rose 52.02 points, or 0.2 percent, to 26,444.81. The S&P 500 gained 8.3 points, or 0.29 percent, to 2,847.55. The Nasdaq Composite added 33.94...Read More
Gold and silver are likely to draw buying on any pullbacks, says SeanLusk, director of commercial hedging with Walsh Trading. The metals are in factlower on profit-taking Friday, Lusk says. Previously, they ran up sharply thisweek on U.S. dollar weakness. “I think the uptrend continues into month end,”he says. He later adds, “These dips are going to provide a buying opportunityas...Read More
Stock futures are pointed higher this morning, setting the major market indexes up to secure their fourth straight weekly win. Intel (INTC) stock is lifting Dow Jones Industrial Average (DJI) futures, thanks to a well-received earnings report. Investors are also digesting the advance reading on fourth-quarter gross domestic product (GDP), which showed economic growth of 2.6% -- smaller than the 3%...Read More
* Q4 advance GDP estimate 2.6 pct vs est. 3 pct growth* Intel jumps after bullish forecast, upbeat earnings* Starbucks falls after sales warning* Futures up: Dow 35 pts, S&P 8 pts, Nasdaq 31 pts (Adds comment, details on GDP data, updates prices)By Sruthi ShankarJan 26 (Reuters) - Wall Street was set to open higher on Friday as investors shrugged off weaker-than-expected U.S. economic growth d...Read More
DAVOS, Switzerland, Jan 26 (Reuters) - Japan's central bank expects the economy to continue growing at a moderate pace and inflationary expectations are picking up slightly, Bank of Japan Governor Haruhiko Kuroda said on Friday. Speaking at the World Economic Forum in Davos, Kuroda also said the bank would continue supporting the economy with monetary easing. (Reporting by By Dmitry Zhdannikov an...Read More
Jan 26 (Reuters) - Stock futures pared gains on Friday after data showed U.S. economic growth unexpectedly slowed in the fourth quarter.Separately, President Donald Trump at Davos warned trading partners that Washington would no longer tolerate unfair trade.Dow e-minis were up 52 points, or 0.2 percent, with 33,013 contracts changing hands.S&P 500 e-minis were up 9.75 points, or 0.34 percent,...Read More
(Adds details, context)By Bruno FederowskiBRASILIA, Jan 26 (Reuters) - Brazil's current account deficit shrank in 2017 to a decade low, in a boost to the nation's recovery from the deepest recession in three decades.The current account deficit tightened nearly 60 percent from 2016 to $9.762 billion, central bank data showed on Friday, capped by a $4.327 billion December deficit. Economists polled...Read More
WASHINGTON, Jan 26 (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Friday he was not trying to talk down the dollar and his comments earlier this week were taken out of context, according to an interview with CNBC."I made the comment two days ago in a press gaggle in the morning. What I said was actually very even-handed and consistent with what I said before," Mnuchin told CNB...Read More