Posted on

Gold futures settle at a 5-week high

Gold futures rallied Thursday to finish at the highest level since late-November, finding support from a weaker U.S. dollar and uncertainty surrounding the pace of the Federal Reserve’s interest-rate increases. February gold tacked on $16, or 1.4%, to settle at $1,181.30 an ounce. That was the highest finish since Nov. 29, according to FactSet data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Posted on

10-Year Low for Consumer Bankruptcy Filings

Last year, there were fewer consumer bankruptcies filed than in any year during the last decade. Monthly filings, though, rose from a year earlier.

A combined 56,394 new commercial and non-commercial cases were filed with the nation’s bankruptcy courts during the final month of last year.

The figure fell from November, when the total was 59,300, but rose from December 2015, when the number came to an upwardly revised 53,844.

…read more

From:: Financing

Posted on

Trump says he’d tax Toyota if it builds plant in Mexico instead of U.S.

President-elect Donald Trump threatened Toyota Motor Corp. with a “big border tax” if the company builds a plant in Mexico instead of the U.S. In a tweet, Trump said Toyota is planning to build a new plant in Baja, Mexico, to build its Corolla cars for the U.S. market. “No way!,” Trump said. “Build plant in U.S. or pay big border tax.” Toyota’s shares were off about 0.4% after Trump’s tweet.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Posted on

Deutsche Bank considering loans to private equity as part of $4.1 billion in consumer relief

Recently, Deutsche Bank announced that it reached a settlement with the Department of Justice over the bank’s issuance and underwriting of residential mortgage-backed securities between 2005 and 2007. As part of the settlement, Deutsche Bank will be required to provide $4.1 billion in consumer relief. But a new report suggests that Deutsche Bank is considering an unorthodox method of providing that $4.1 billion in consumer relief – lending to private equity firms. …read more

From:: Real Estate Wire

Posted on

KaloBios stock jumps on news of positive guidance from FDA on rare disease drug

Shares of biotech KaloBios Pharmaceuticals Inc. surged 8% Thursday, after the company reported positive guidance from a meeting with the U.S. Food and Drug Administration regarding its benznidazole, a treatment for the neglected rare tropical illness, Chagas disease. The company, which was headed by investor Martin Shkreli until his arrest on fraud charges in late 2015, said the FDA will accept its approach to showing safety and efficacy using data drawn from previous studies. The regulator said benznidazole is expected to be eligible for a priority review voucher, which is given to sponsors of treatments for certain neglected tropical diseases. “This guidance makes it clear that we are on the right track with our development of benznidazole for Chagas disease, and we expect we will progress expeditiously toward a submission,” Chief Executive Cameron Durrant said in a statement. Shares, which trade over-the-counter, are down 82% in the last 12 months, while the S&P 500 has gained about 12%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Posted on

Bank Mortgage Delinquency, Foreclosures Fall

Quarterly delinquency on residential loans serviced by banks moved lower, as did the number of foreclosures that were initiated and completed.

Delinquency of at least 30 days, including foreclosures in process, was 5.2 percent as of the third-quarter 2016 on first liens serviced by banks.

The non-current rate improved from the previous quarter’s 5.3 percent. It was also lower than 6.1 percent as of the same quarter a year previous.

…read more

From:: Financing

Posted on

Twilio shares climb after upgrade to overweight at Pacific Crest

Shares of Twilio gained 2% after the stock was upgraded to overweight from sector weight at Pacific Crest Securities Thursday. The analysts upgraded the company, saying they believe the core business of Twilio, which makes programmable cloud software for developers and enterprises and makes up 90% of revenue, is in a position to see continued steady growth. That growth could lead Twilio to profitability by the end of the year, they said. Additionally, they say a 55% stock drop in the fourth quarter of 2016 has created “an increasingly favorable risk/reward” for investors. They established a price target of $36. Shares of Twilio have fallen 10% in the past month, compared to the S&P 500’s gain of 3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Posted on

EIA reports big decline in U.S. oil supplies, along with jump in product stocks

Oil futures pared earlier gains Thursday after the U.S. Energy Information Administration reported that domestic crude supplies fell much more than expected, but stocks of gasoline and distillates spiked higher. Crude stockpiles declined by 7.1 million barrels for the week ended Dec. 30. The American Petroleum Institute late Wednesday reported a fall of 7.4 million barrels, though analysts polled by S&P Global Platts forecast a decline of 1.7 million barrels. Gasoline supplies, however, rose 8.3 million barrels while distillate stockpiles jumped up by 10.1 million barrels, according to the EIA. Reports on supplies this week were delayed by a day because of the New Year’s Day holiday. February crude traded up 7 cents, or 0.1%, to $53.33 a barrel on the New York Mercantile Exchange, down from $53.90 before the data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News