U.S. stocks edged lower for a second consecutive session on Friday as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump. The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes.
WTI prices fall on surprise build in U.S. crude stocks
December 29, 2016 By
By Mark Tay Singapore (Reuters) – U.S. oil prices fell on Thursday after an industry report showed a surprise build in the country's crude inventories, while Brent futures came off early lows to trade marginally higher. Meanwhile, a committee of OPEC (Organization of the Petroleum Exporting Countries) and non-OPEC producers responsible for monitoring compliance with a production cut agreement will meet in Vienna on Jan. 21-22, Kuwaiti oil minister Essam Al-Marzouq told state news agency KUNA, in a sign that the output cut deal is likely to be adhered to.
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WTI prices fall on surprise build in U.S. crude stocks
Warren slams Wells Fargo over arbitration position
November 29, 2016 By
Massachusetts Democratic Senator Elizabeth Warren on Monday criticized Wells Fargo & Co's decision to require customers affected by its unauthorized accounts scandal to go through arbitration rather than allowing them to sue. The San Francisco-based bank last week asked a U.S. court to uphold contract clauses that mandate arbitration, something financial firms often use to protect against litigation. In a Facebook post on Monday, Warren, a frequent critic of the banking industry, said Wells Fargo's promise to treat customers better in light of the scandal is “meaningless” as long as it is pursuing arbitration.
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Warren slams Wells Fargo over arbitration position
Wells Fargo faces tighter controls as U.S. regulator reverses course
November 19, 2016 By
By Patrick Rucker WASHINGTON (Reuters) – A leading U.S. bank regulator on Friday reversed course and positioned the agency to claw back pay of former executives at Wells Fargo & Co after a phony-accounts scandal. Friday's move may target executive pay at Wells Fargo at a time when some lawmakers complain bank bosses have not paid a fair price for their part in financial scandals. Congressional hearings followed news of the scandal and John Stumpf, the firm's chief executive officer, resigned.
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Wells Fargo faces tighter controls as U.S. regulator reverses course
Weak utilities demand restrains U.S. industrial production
October 17, 2016 By
U.S. industrial production barely rose in September as a rebound in manufacturing and mining output was offset by surprisingly weak demand for utilities, pointing to a moderate acceleration in economic growth in the third quarter. Gains in output are likely to be muted as the sector remains constrained by the lingering effects of the dollar's past rally, a collapse in oil prices and weak global demand. The Fed said industrial output edged up 0.1 percent last month after declining 0.5 percent in August.
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Weak utilities demand restrains U.S. industrial production
Wall Street’s gains fade as Yellen questions economy’s resilience
October 14, 2016 By
(Reuters) – U.S. stocks ended little changed on Friday, losing ground late after Federal Reserve Chair Janet Yellen's comments on the economy unnerved investors.
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Wall Street’s gains fade as Yellen questions economy’s resilience
Wall Street rallies as Fed holds fire on rates
September 21, 2016 By
NEW YORK (Reuters) – Wall Street racked up gains on Wednesday, and the Nasdaq closed at a record high, after the U.S. Federal Reserve kept interest rates unchanged, for now leaving intact the low-rate environment that has helped underpin the bull market.
Wall Street Week Ahead: Again at highs, stocks to take cues from consumer
August 6, 2016 By
Quarterly earnings reports from department store operators including Macy's , luxury goods companies such as Michael Kors and entertainment company Disney will set the tone for Wall Street, with investors also eyeing U.S. retail sales data due on Friday. “The consumer, in our mind, is a lever that could cause equities to trend higher,” said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis. Recent data has shown solid consumer spending, including higher-than-expected outlays in June as households bought more goods and services.
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Wall Street Week Ahead: Again at highs, stocks to take cues from consumer
Worries over China, Brexit push Treasury yields to record low
July 5, 2016 By
By Marc Jones LONDON (Reuters) – Investors pushed U.S. government bond yields to an all-time low and the yen sharply higher on Tuesday, as soft data from China added to worries about the impact of Britain's vote to leave the European Union. As a fresh wave of uncertainty ripped through markets, Swiss bond yields turn negative all the way out to 50 years on bets that the world's major central banks will have to wade in with yet more stimulus. European shares lost more than 1 percent in early trade, with China's data hitting commodity-linked firms and the banking sector dented by worries over a near 60-percent slump in Italian bank shares this year. The safe-haven yen rose almost one percent against the euro and dollar , while Brexit-battered sterling hit another 31-year low after soft UK economic data.
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Worries over China, Brexit push Treasury yields to record low