Oil sheds gains, stocks inch lower as focus turns to US Fed

Oil shed some of its massive gains on Tuesday as the United States flagged the possible release of crude reserves, while stocks inched lower as investors remained on the sidelines ahead of this week’s Federal Reserve meeting. Investors were non-committal ahead of an expected interest rate cut from the Fed on Wednesday and the next round of U.S.-China trade talks on Thursday. European shares opened lower, with energy stocks giving up gains as crude prices eased. The pan-European STOXX 600 index dropped 0.2%. MSCI’s All-Country World Index, which tracks shares…

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Oil sheds gains, stocks inch lower as focus turns to US Fed

Oil shed some of its massive gains on Tuesday as the United States flagged the possible release of crude reserves, while stocks inched lower as investors remained on the sidelines ahead of this week’s Federal Reserve meeting. Investors were non-committal ahead of an expected interest rate cut from the Fed on Wednesday and the next round of U.S.-China trade talks on Thursday. European shares opened lower, with energy stocks giving up gains as crude prices eased. The pan-European STOXX 600 index dropped 0.2%. MSCI’s All-Country World Index, which tracks shares…

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Oil sheds gains, stocks inch lower as focus turns to US Fed

Oil shed some of its massive gains on Tuesday as the United States flagged the possible release of crude reserves, while stocks inched lower as investors remained on the sidelines ahead of this week’s Federal Reserve meeting. Investors were non-committal ahead of an expected interest rate cut from the Fed on Wednesday and the next round of U.S.-China trade talks on Thursday. European shares opened lower, with energy stocks giving up gains as crude prices eased. The pan-European STOXX 600 index dropped 0.2%. MSCI’s All-Country World Index, which tracks shares…

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U.S. stocks rise after China trade comments

Arise in technology stocks lifted Wall Street on Thursday, as China sounded hopeful of a resolution to the protracted trade dispute with the United States, easing investor fears of the risk of a recession. China’s commerce ministry said both sides are discussing the next round of talks scheduled in September and hoped U.S. officials could cancel the planned additional tariffs to avoid an escalation, boosting sentiment and driving global stocks higher. U.S. President Donald Trump said in a Fox News radio interview that trade talks were scheduled for Thursday “at…

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U.S. stocks push higher on earnings, growth

US stocks attempted to push higher for a fourth day as investors mulled weak economic data and mixed corporate results, including an unexpected quarterly loss for Boeing. Treasuries advanced along with bonds in Europe. The Nasdaq and S&P 500 veered into positive territory, bolstered by UPS exceeding its profit guidance. In addition to Boeing, Caterpillar weighed on the Dow Jones Industrial Average after the equipment maker projected earnings at the low end of forecasts. European bond yields dropped to unprecedented lows as disappointing manufacturing data added to concerns about the…

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U.S. stocks fluctuate as treasuries rise on rate bet

Treasuries rose on speculation major central banks will keep a dovish stance as the trade war jeopardizes global growth. U.S. stocks fluctuated after the biggest two-day rally since January. According to Bloomberg News, the 10-year bond yield traded near 2.1 per cent, as investors positioned for looser policy, with the European Central Bank pledging to keep rates at record lows. The euro climbed as President Mario Draghi touted “somewhat better” than expected firstquarter data. The S&P 500 Index swung between gains and losses as Mexico’s foreign minister cited advances in…

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NSE lengthens gaining streak by N43bn

Nigerian stocks sustained thier positive outlook for the third day, as bargain hunters continued to leverage on undervalued stocks. Consequently, the All-Share Index rose by 115.45 basis points or 0.38 per cent to close at 30,086.31 index points as against 29,970.86 recorded the previous day, while market capitalisation of equities appreciated by N43 billion or 0.38 per cent to close higher at N11.300 trillion from N11.257 trillion. Meanwhile, a turnover of 226.9 million shares in 3,400 deals was recorded in the day’s trading. Premium sub-sector was the most active (measured…

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U.S. stocks extend biggest rally in 3 years

managU. S. stocks extended the biggest monthly rally in more than three years as better-than-expected corporate earnings and the Federal Reserve’s dovish turn lifted investor sentiment. The S&P 500 Index traded at an eight-week high with technology shares outperforming. General Electric Co. and Facebook Inc. both surged more than 10 percent after posting quarterly results. Emerging-market shares advanced while Treasury yields fell a day after signals from the Fed that it will be “patient” on interest-rate moves and flexible on the path for reducing its balance sheet. “The market is…

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U.S. stocks rally on technology after 2-day slump

Wall Street rose at the weekend after a bounce in technology and other high-growth stocks led a fight back from its worst two-day slide in eight months, while early gains from strong earnings of the biggest US lenders faded. According to Reuters, PNC Financial led the losses among bank stocks with a 6.3 per cent drop after the regional bank reported disappointing quarterly loan growth and said it expected only a small improvement in lending this quarter. The S&P 500 banks index slid 1.65 per cent, also weighed down by…

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Nigerian stocks slumped 20% from their peak in January – Report

Nigeria’s stocks entered a bear market, as worsening political tensions and emerging-market sell-off caused foreign investors to shun assets in Africa’s biggest oil producer. The Nigerian Stock Exchange All Share Index fell 2.2 per cent to 35,446.47 by the close in Lagos, the commercial capital, bringing the decline since its 2018 high on Jan. 19 to 21 per cent, according to Bloomberg News. Traders consider a market to be in bear territory when it’s down 20 per cent from its last peak. The rout marks a sharp turnaround from the…

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