Daily Video Review - 19/08
- Donald Herison
- English
- MARKETS NEWS
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1. Wal-Mart Stores Inc (N:WMT) reported weaker-than-expected quarterly earnings and lowered its full-year forecast, citing higher costs from adding worker hours as well as weaker margins in its U.S. pharmacy business.
2. Home Depot Inc (N:HD), the world's No.1 home improvement retailer, reported a better-than-expected rise in quarterly same-store sales, helped by increased home remodeling activity in the United States and a recovery in the housing market.
3. Stocks fell on Tuesday, with European markets buckling under heavy selling pressure carried over from Asia after Chinese shares slumped 6 percent and emerging market currencies and oil prices remained anchored at historic lows.
4. Wall Street opened lower on Tuesday following a 6 percent slump in Chinese shares and disappointing quarterly results from Wal-Mart (N:WMT). (Reuters)
5. U.S. natural gas prices slumped to the lowest level in more than five weeks on Tuesday, as forecasts for cooler weather across key consumption regions of the U.S. in the week ahead dampened demand expectations for the fuel.
6. The dollar moved higher against a basket of major currencies on Tuesday, after data showing that U.S. housing starts rose to an almost eight-year high in July. The Commerce Department reported that housing starts rose 0.2% to an annual pace of 1.21 million units, the highest level since October 2007. (Investing.com)
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1) Wall Street began the week lower on Monday after data showed a surprise fall in manufacturing activity in the state of New York in August.
The market was also weighed down by oil prices, which fell toward six-year lows as data showed Japan's economy, the world's third-biggest oil consumer, contracted in the second quarter.
2) NEW YORK - U.S. homebuilder sentiment rose in August to its highest level since a matching reading almost a decade ago, the National Association of Home Builders said on Monday. (Reuters)
3) The New York Federal Reserve’s index of manufacturing conditions tumbled to its lowest level since 2009 in August as new orders fell sharply, according to a report released on Monday.
The Federal Reserve Bank of New York said that its general business conditions index dropped to -14.9 this month from 3.86 in July.
4) The dollar remained steady against a basket of major currencies on Monday after data showed that manufacturing activity in the New York region slumped to its lowest level since November 2009 this month.
5) U.S. oil futures fell to the lowest level in six-and-a-half years on Monday after data showing that Japan’s economy contracted in the second quarter added to fears over the demand outlook. (Investing.com)
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1. (Reuters) - Wall Street fell in morning trading on Thursday as strong U.S. economic data increased the likelihood that the Federal Reserve would raise interest rates in September, rather than later in the year.
U.S. retail sales rebounded in July. The four-week moving average of weekly jobless claims fell to its lowest since April 2000, pointing firmly to a tightening jobs market.
2. (Reuters) - Coca-Cola Co (N:KO) named James Quincey chief operating officer, and said company veteran Ahmet Bozer, who had been seen as a possible successor to Muhtar Kent as CEO, would be leaving.
3. BERLIN (Reuters) - While Chancellor Angela Merkel's focus on careful spending as a cure for the euro zone's debt problems has made her popular at home, German consumers are borrowing more to finance everything from furniture to cars.
4. Investing.com - Natural gas futures extended losses on Thursday, after data showed that U.S. natural gas supplies rose more than expected last week.
Natural gas for delivery in September on the New York Mercantile Exchange dropped 8.5 cents, or 2.88%, to trade at $2.847 per million British thermal units during U.S. morning hours. Prices were at around $2.912 prior to the release of the supply data.
5. ATHENS (Reuters) - Greece's ruling Syriza party edged toward a formal split on Thursday, hours before rebel leftist lawmakers plan to vote against a new bailout deal to keep the country afloat.
With opposition support, the government is asking parliament to approve a 85 billion euro bailout deal that Greece needs to avoid defaulting on a debt repayment next week.
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1) BEIJING (Reuters) - Alibaba's shares skidded to a record low in New York on Wednesday after China's biggest e-commerce company posted its slowest revenue growth in over three years.
2) NEW YORK (Reuters) - Boeing Co (N:BA) sees continued strong demand for civilian aircraft and pressure to increase its production rates, despite concerns about growth in China and several years of record aircraft orders.
3) Investing.com - The dollar tumbled over 1% to one-month lows against the other major currencies on Wednesday, as markets were still digesting news that China devalued its currency for the second consecutive day.
4) ATHENS/BRUSSELS (Reuters) - The European Union moved to keep Greece on a tight rein after its latest bailout, with sources saying the 85 billion euro ($94.83 billion) deal will be reviewed by lenders in October and any discussion of debt relief will only come at a later stage.
5) Investing.com - West Texas Intermediate oil trimmed gains on Wednesday, after data showed that oil supplies in the U.S. fell less than expected last week.
Crude oil for delivery in September on the New York Mercantile Exchange tacked on 20 cents, or 0.46%, to trade at $43.28 a barrel during U.S. morning hours. Prices were at around $43.52 prior to the release of the inventory data.
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1. Google (NASDAQ:GOOGL) Inc's overhaul of its operating structure is an acknowledgement of the lack of transparency surrounding its disparate businesses and projects, analysts said, but it remains to be seen how much more the company will actually disclose.
2. Gold prices rallied to a three-week high on Tuesday before paring some of those gains as investors assessed the implications of China's move to devalue its currency by the most in two decades.
3. U.S. stocks fell in early trading on Tuesday in a broad-based retreat as China's surprise devaluation of the yuan pushed the dollar higher and pressured commodity-related shares.
4. Crude oil futures tumbled on Tuesday, after the Organization of the Petroleum Exporting Countries said it pumped the most crude in more than three years last month, adding to concerns over a glut in global supplies.
5. The euro rose to one-and-a-half week highs against the dollar on Tuesday after an unexpected devaluation of the yuan by China’s central bank prompted investors to unwind euro-funded positions on the Chinese currency.
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