1. U.S. stocks opened lower on Monday after a swathe of weak results led by Morgan Stanley and Halliburton.

Morgan Stanley's shares (N:MS) fell 6.2 percent to $31.83 after the bank's profit fell for the second straight quarter. The stock was the second-largest drag on the S&P 500 index.

The bank's results capped mostly downbeat quarterly results from major U.S. banks with struggling trading businesses.

2. Crude oil futures were under pressure on Monday, after data showed China's economy expanded at its slowest pace since 2009 in the third quarter, underlining concerns over weak demand.

On the ICE Futures Exchange in London, Brent oil for December delivery tumbled $1.33, or 2.65%, to trade at $49.13 a barrel during U.S. morning hours. On Friday, Brent futures tacked on 73 cents, or 1.47%.

3. The U.S. dollar edged higher against its Canadian counterpart on Monday, as the greenback regained some ground after the release of mixed U.S. data on Friday dampened optimism over the strength of the economy.

USD/CAD hit 1.2947 during European afternoon trade, the pair's highest since October 14; the pair subsequently consolidated at 1.2942, rising 0.23%.

4. The dollar remained moderately higher against the other major currencies in subdued trade on Monday, as sentiment on the greenback was still fragile after the release of mixed U.S. economic reports on Friday.

The dollar was higher against the euro, with EUR/USD down 0.11% at 1.1333.

The preliminary reading of the University of Michigan’s consumer sentiment index came in at 92.1 on Friday, compared to forecasts of 89 and up from 87.2 in September.

But another report showed that U.S. industrial production declined 0.2% in September, pressured lower by weakness in the oil and gas sector.

5. European stock markets struggled and Wall Street looked set to open lower on Monday after U.S. bank Morgan Stanley reported a slump in quarterly profit, adding to signs of woe among the world's biggest banks.

The record third-quarter loss reported by Germany's Deutsche Bank (DE:DBKGn) earlier this month has refocused investors' minds on the big global banks after a decade of financial strife, regulation and technology-driven change.

 

 

 

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Actress and media magnate Oprah Winfrey will buy a 10 percent stake in Weight Watchers International Inc and join the company's board.

Shares of the weight management company jumped 37 percent to $9.30 in premarket trading on Monday.

Winfrey will buy nearly 6.4 million shares at Friday's closing price of $6.79 per share for $43.2 million, Weight Watchers said. She will also have options to acquire an additional 5 percent stake.

If Winfrey buys 15 percent of Weight Watchers, she will become the second-largest shareholder, after investment firm Invus Public Equities Advisors LLC, which owned a 51.5 percent stake as of June 30.

She will also advise the company on program development and future products.

Winfrey for years has spoken about her struggle with her weight and a thyroid problem that had led her to weigh 200 pounds in 2008.

Winfrey is one of the most popular talk-show hosts in history. She runs the cable network OWN, which she created in a joint venture with Discovery Communications Inc.

Weight Watchers, which provides online subscriptions for weight management and coaching, has seen its subscriber base drop in the face of free mobile weight management apps and fitness brands such as those of Fitbit Inc.

Weight Watchers, founded in 1963, will expand its purpose to help people lead healthier lives, from just focusing on weight loss, Chief Executive Jim Chambers said in a statement on Monday.

 

 

 

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1. U.S. stocks opened higher on Friday, a day after hitting an 8-week high, underpinned by better-than-expected third-quarter earnings from industrial majors General Electric (N:GE) and Honeywell.

The Dow Jones industrial average (DJI) rose 30.06 points, or 0.18 percent, to 17,171.81, the S&P 500 (SPX) gained 3.24 points, or 0.16 percent, to 2,027.1 and the Nasdaq composite (IXIC) added 3.99 points, or 0.08 percent, to 4,874.09.

2. The U.S. dollar was higher against its Canadian counterpart on Friday, pulling away from a three-month low after the release of better-than-expected economic reports from both Canada and the U.S.

USD/CAD hit 1.2931 during early U.S. trade, the session high; the pair subsequently consolidated at 1.2905, gaining 0.37%.

The pair was likely to find support at 1.2719, the low of July 15 and resistance at 1.3039, Wednesday's high.

3. Oil prices rose on Friday, snapping a week-long decline as investors closed positions at the end of a volatile week that saw prices slide nearly 10 percent on renewed signs a global supply glut was here to stay.

Brent crude's new front-month December contract (LCOc1) was up 60 cents at $50.33 a barrel at 1338 GMT. November Brent expired at $48.71 on Thursday, down 44 cents on the day.

U.S. crude's front-month November contract (CLc1) traded 99 cents higher, or 2.13 percent, at $47.37 a barrel.

4. The dollar remained broadly higher against the other major currencies in quiet trade on Friday, as the previous session's upbeat U.S. data continued to support demand for the greenback and as investors eyed the release of additional U.S. economic reports later in the day.

The dollar was higher against the yen, with USD/JPY rising 0.16% to 119.08.

5. U.S. industrial production fell for a second straight month in September on renewed weakness in oil and gas drilling, the latest indication that the economy lost momentum in the third quarter.

Industrial output slipped 0.2 percent after a revised 0.1 percent dip in August, the Federal Reserve said on Friday.

Economists polled by Reuters had forecast industrial production slipping 0.2 percent last month after a previously reported 0.4 percent decline in August.

Industrial production rose at an annual rate of 1.8 percent in the third quarter.

 

 

 

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1. Wall Street opened higher on Thursday, rebounding from two days of losses, as investors assessed economic data and quarterly results of major U.S. banks.

The Dow Jones industrial average (DJI) rose 27.22 points, or 0.16 percent, to 16,951.97, the S&P 500 (SPX) gained 4.74 points, or 0.24 percent, to 1,998.98 and the Nasdaq composite index (IXIC) added 15.44 points, or 0.32 percent, to 4,798.29.

2. The dollar turned broadly higher against the other major currencies on Thursday, easing off a two-and-a-half month trough as the release of upbeat U.S. data eased concerns over the health of the economy.

The dollar trimmed losses against the yen, with USD/JPY down 0.25% at 118.53, off a more than one-month low of 118.06 hit earlier in the session.

3. West Texas Intermediate oil futures fell more than 1% on Thursday, amid speculation weekly supply data due later in the session will show U.S. crude inventories rose at a faster pace than expected last week.

Crude oil for delivery in November on the New York Mercantile Exchange fell to an intraday low of $45.63 a barrel, the weakest level since October 5, before trading at $45.87 during U.S. morning hours, down 77 cents, or 1.65%.

4. Gold futures erased gains on Thursday to move away from a four-month high, after upbeat U.S. economic data prompted market players to bring forward their expectations for a U.S. rate hike.

Gold for December delivery on the Comex division of the New York Mercantile Exchange shed $1.20, or 0.1%, to trade at $1,178.60 a troy ounce during U.S. morning hours. Prices rallied to an intraday peak of $1,191.40 earlier, a level not seen since June 22.

5. Goldman Sachs Group Inc's (N:GS) profit plunged for the second straight quarter as bond trading revenue fell by a third amid market turmoil stemming from concerns about global growth.

Revenue fell in all of the bank's major businesses except investment banking, which benefited from a surge in takeovers.The results are the latest example of how the grim trading environment is gutting Wall Street.

Turbulent trading, much stemming from worries about the flow-on effect of China's cooling economy, was aggravated by uncertainty over the timing of a U.S. interest rate hike.

 

 

 

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Burberry shares slumped by about 12% in London on Thursday after the company announced disappointing sales in its key Asian markets.

The fashion retailer's retail revenue grew by only 2% in the first half of the year, down from 8% in the first quarter, and well below analysts' expectations.

Burberry said sales in Hong Kong "decelerated further" in the second quarter, while mainland China sales "decreased slightly" in the first half.

"The external environment became more challenging during the half," said Burberry CEO Christopher Bailey.

China has been a key driver of growth for Burberry in the past few years. But Chinese shoppers are turning away from its trademark checked trench coats and other luxury goods as the world's second biggest economy slows.

"Worries about a China/Asia slowdown are justified with the legendary Chinese consumer spending less on their much loved luxury goods at home, even if they continue to ring up the tills in Japan and Europe thanks to currency benefits," said Mike van Dulken, head of research at Accendo Markets.

Burberry said it is taking "swift action" on costs to minimize the impact of the increasingly challenging conditions in the luxury market on its business.

"Our plans for the festive season position us well to return to a more positive sales trend in the all-important second half," Bailey said.

 

 

 

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1. U.S. stocks retreated on Wednesday as investors absorbed mixed earnings from major banks and Wal-Mart's weak forecast wiped more than $20 billion off the retailer's market value.

Weak economic data from the United States and China added to worries about the health of the global economy even as investors' focus shifted to company results.

"The major theme, not only today but through the balance of the earnings season, is going to be the revisions to fourth quarter and 2016 earnings," said Bill Northey, chief investment officer of the private client group at U.S. Bank.

2. Wal-Mart Stores Inc (N:WMT) said full-year sales would be flat due to the stronger-than-anticipated impact of the dollar's strength, and that investment in technology and employees would pressure earnings next year, sending its shares down 10 percent.

Shares of the company, which also announced a $20 billion share buyback, fell to a more-than three-year low of $60.18 on Wednesday, wiping out about $21 billion in market value.

The stock was on track for its worst one-day performance in more than 17 years.

"We can deliver stronger financial performance in the short-term simply by running our core business better but that won't be enough," Chief Executive Doug McMillon said at an investor meeting in New York.

3. Oil eased further below $50 a barrel on Wednesday, falling for a third day, on concern a supply glut will persist and demand slow down as economic growth moderates in No. 2 consumer China.

Chinese growth for the third quarter is expected to fall below 7 percent for the first time since the global financial crisis. The International Energy Agency (IEA) said on Tuesday the oil market would remain oversupplied in 2016.

Brent crude was down 8 cents at $49.16 a barrel as of 1114 GMT (0714 EDT). U.S. crude was up 3 cents at $46.69.

4. The dollar remained broadly lower against the other major currencies on Wednesday, after the release of disappointing U.S. retail sales and producer price inflation data dampened optimism over the strength of the economy.

The dollar extended losses against the euro, with EUR/USD up 0.46% at 1.1432.

The U.S. Commerce Department reported on Wednesday that retail sales increased by 0.1% last month, missing expectations for a gain of 0.2%.

5.  U.S. natural gas futures rebounded from the previous session's losses on Wednesday, as market participants looked ahead to fresh weekly information on U.S. gas inventories to gauge the strength of demand for the fuel.

Natural gas for delivery in November on the New York Mercantile Exchange tacked on 2.2 cents, or 0.88%, to trade at $2.520 per million British thermal units during U.S. morning hours. A day earlier, natural gas declined 3.7 cents, or 1.46%.

 

 

 

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Gold futures jumped to a three-month high on Wednesday, after data showed retail sales in the U.S. rose less than expected in September, dampening optimism over the strength of the economy and dimming the case for higher interest rates.

Gold for December delivery on the Comex division of the New York Mercantile Exchange hit an intraday peak of $1,176.00 a troy ounce, the highest level since June 30, before trading at $1,173.20 during U.S. morning hours, up $7.80, or 0.67%. A day earlier, gold inched up 90 cents, or 0.08%.

The U.S. Commerce Department said that retail sales increased by 0.1% last month, missing expectations for a gain of 0.2%. Retail sales for August were revised down to a flat reading from a previously reported increase of 0.2%.

Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.

Core retail sales, which exclude automobile sales, declined 0.3% in September, worse than forecasts for a fall of 0.1%. Core sales in August decreased 0.1%, whose figure was revised from a previously reported gain of 0.1%.

Core sales correspond most closely with the consumer spending component of the government's gross domestic product report. Consumer spending accounts for as much as 70% of U.S. economic growth.

 

 

 

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1. Twitter Inc (N:TWTR) will lay off up to 336 employees, or about 8 percent of its workforce, as co-founder Jack Dorsey readies to revive growth in the microblogging service provider's user base in his second stint as chief executive.

The layoffs, primarily in the company's product and engineering functions, come a week after Dorsey took over as permanent CEO. Shares of Twitter, which had about 4,100 employees globally as of June 30, rose as much as 6 percent in morning trading on Tuesday.

2. The U.S. dollar rose against its Canadian counterpart on Tuesday, as it mildly recovered from speculation the Federal Reserve will most likely hold off from raisinginterest rates this year, although gains were expected to remain limited.

USD/CAD hit 1.3067 during early U.S. trade, the pair's highest since October 7; the pair subsequently consolidated at 1.3072, gaining 0.57%.

3. U.S. stocks were lower on Tuesday after weak China trade data added to worries about slowing global economic growth.

Data showed Chinese imports fell 20 percent in September due to weak domestic demand, indicating that growth in the world's second-largest economy was sputtering.

The selloff was broad based - all 10 major S&P sectors were down, with the industrial sector's <.SPLRCI> 0.54 percent fall leading the decliners.

4. Oil futures swung between gains and losses in volatile trade on Tuesday, amid ongoing uncertainty about how quickly the global glut of crude is set to shrink.

Crude oil for delivery in November on the New York Mercantile Exchange tacked on 92 cents, or 1.95%, to trade at $48.02 a barrel during U.S. morning hours. Prices traded in a wide range between $46.64 and $48.13. A day earlier, Nymex oil prices plunged $2.53, or 5.1%.

5. Johnson & Johnson (N:JNJ) reported a 7.4% fall in quarterly sales as the impact of a strong dollar more than offset higher sales of its older drugs.

Revenue fell to $17.10 billion in the third quarter from $18.47 billion a year earlier.

International sales fell nearly 14% to $8.31 billion in the quarter, including a currency impact of 15.8%, the company said. The company receives nearly half of its revenue from outside the U.S.

 

 

 

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1. Wall Street was little changed at the open on Monday as investors braced for a busy week of quarterly results from major U.S. banks and several Dow 30 companies.

At 9:30 a.m. EDT, the Dow Jones industrial average (DJI) was up 10.09 points, or 0.06 percent, at 17,094.58, the S&P 500 (SPX) was up 1.09 points, or 0.05 percent, at 2,015.98 and the Nasdaq composite (IXIC) was up 9.91 points, or 0.21 percent, at 4,840.38.

2. There could be sufficient economic data for the Federal Reserve to consider a rate hike at their meeting later in October but there will be a lot more data on hand in time for the December meeting, Atlanta Federal Reserve Bank President Dennis Lockhart said on Monday.

"I think October is a live meeting, clearly there is the potential that the data coming in, in advance of the October meeting will be sufficient … we have a lot more in December," he said following a speech to a university association in Orlando, Florida.

3. The U.S. dollar edged lower against its Canadian counterpart on Monday, hovering close to a two-month trough as the minutes of the Federal Reserve's latest policy meeting continued to dampen demand for the greenback.

Trading volumes were expected to remain thin on Monday, with U.S. markets closed for a national holiday.

4. Gold futures rose to the highest level since August on Monday, as doubts over whether the Federal Reserve will hike interest rates before the end of the year boosted the appeal of the precious metal.

Gold for December delivery on the Comex division of the New York Mercantile Exchange hit an intraday peak of $1,168.60 a troy ounce, the most since August 24, before trading at $1,166.30 during U.S. morning hours, up $10.40, or 0.9%.

5. Crude oil futures reversed earlier gains to trade lower on Monday, following the release of the latest supply estimates from the Organization of the Petroleum Exporting Countries.

On the ICE Futures Exchange in London, Brent oil for December delivery shed 56 cents, or 1.07%, to trade at $52.35 a barrel during U.S. morning hours after rising by as much as 1.32% earlier in the session.

 

 

 

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World stocks rallied on Friday, putting them on course for their biggest weekly rise in four years after minutes of the Federal Reserve's last policy meeting showed the U.S. central bank is in no rush to raise interest rates.

Investors' relief that the Fed probably won't move until next year saw them take on more risk across the board, with commodities in particular recovering some of their recent heavy losses to chalk up their biggest gains in years.

Brent crude oil was on track for its biggest weekly rise since March 2009, while zinc soared 9 percent - its biggest daily gain for seven years - after troubled mining giant Glencore (LONDON:GLEN) said it would cut production.

Glencore shares themselves surged 12 percent, meaning they were up 41 percent on the week - their biggest weekly rise since being floated in mid-2011 - and doubling from the record low reached only two weeks ago.

At midday in Europe, the MSCI world equity index was up 0.8 percent. That was the eighth rise in a row, and put the index up 4.5 percent on the week, its best performance since late 2011.

 

 

 

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