Category: Uncategorized

Gold futures climbed Wednesday to settle at their highest level in nearly three weeks. The U.S. stock market struggled for direction despite upbeat U.S. data on jobs in the private sector, helping to support prices for the metal. The market awaited cues on gold’s next move in the aftermath of monthly U.S. jobs data due out Friday. April gold rose $11, or 0.9%, to settle at $1,241.80 an ounce. That marked the highest settlement since Feb. 11, 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

Don’t read a market by its cover, as Wednesday’s decline in the major market index’s belied positive market internal reading. The Dow Jones Industrial Average and the S&P 500 Index were both down 0.3%, while the Nasdaq Composite Index was shedding 0.4%, in midday trade. But the number of advancing stocks outnumbered declining stocks by about a 15 to 14 score on the NYSE and a 13 to 11 margin on the Nasdaq exchange. Separately, the NYSE’s Arms Index, which is volume-weighted measure of market breadth, dipped below 0.5, which usually only occurs during broad and sharp market rallies. The last two times the NYSE’s Arms Index closed below 0.50 was Feb. 22, when the S&P 500 shot up 1.4%, and Dec. 23, when the S&P 500 climbed 1.2%.

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

Shares of American Water Works Co. shot up to a record high in active trade Wednesday, after S&P Dow Jones Indices said it was adding the water services company to the S&P 500 Index . The stock climbed 4.1% in midday trade. Volume just before noon Eastern was 7 million shares, or more than five times the full-day average over the past 30 days, according to FactSet. The intraday high of $68.87 was the highest seen since the company went public in April 2008. The stock will replace Consol Energy Inc. in S&P’s benchmark index of large-capitalization companies, effective after the close of trading on Thursday. Consol is being pushed down to the S&P MidCap 400 , replacing Solera Holdings Inc. .

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

The government of Saudi Arabia has asked banks to provide it with a loan of up to $10 billion, Reuters reported Wednesday, citing unnamed sources. An invitation sent to banks to discuss the loan didn’t specify size, but sources said it could be around $10 billion or more, the report said. The Saudi finance ministry and central bank didn’t respond to requests for comment after hours on Wednesday, Reuters reported. The alleged request from the world’s largest oil exporter comes as a rout in crude prices takes a toll on the finances of major producing nations.

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

The government of Saudi Arabia has asked banks to provide it with a loan of up to $10 billion, Reuters reported Wednesday, citing unnamed sources. An invitation sent to banks to discuss the loan didn’t specify size, but sources said it could be around $10 billion or more, the report said. The Saudi finance ministry and central bank didn’t respond to requests for comment after hours on Wednesday, Reuters reported. The alleged request from the world’s largest oil exporter comes as a rout in crude prices takes a toll on the finances of major producing nations.

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

Oil futures reversed course Wednesday to trade higher after the latest weekly data from the U.S. government. The report showed a hefty 10.4 million-barrel increase in crude supplies but also revealed that domestic output edged lower. Total U.S. crude output fell by 25,000 barrels to stand at 9.077 million barrels a day, the Energy Information Administration said. April West Texas Intermediate oil was up 48 cents, or 1.3%, to $34.88 a barrel on the New York Mercantile Exchange. It was trading around $34.30 ahead of the supply data and dropped to as low as $33.63 after them, before climbing back up again. Oil’s price move “looks like a classic case of sell-the-rumour, buy-the-news type of a reaction,” said Fawad Razaqzada, technical analyst at Forex.com and City Index. He said a supply build of this magnitude was already reported by the API last night and we are in a ‘risk on’ environment right now.

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