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Gold futures settled sharply lower on Friday, making their gains for the week disappear, amid pressure from a stronger U.S. dollar as well as recent gains in oil prices. April gold fell $18.40, or 1.5%, to settle at $1,220.40 an ounce. For the week, prices were down roughly 0.8%.
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From:: Stock Market News
Oil prices held onto their gains after data Friday from Baker Hughes showed that the number of active U.S. oil-drilling rigs fell for a tenth week in a row. It was down by 13 to 400 as of Friday. The total active U.S. rig count, which includes natural-gas rigs, was down 12 at 502. Compared to last year, the total U.S. rig count has fallen by 765, with oil rigs down by 586. April crude was at $33.42 a barrel on the New York Mercantile Exchange, up 35 cents, or 1.1%. It was trading at $33.47 before the data.
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From:: Stock Market News
Chris Christie endorsed fellow Republican Donald Trump for president on Friday, giving the New York billionaire one of his highest-profile endorsements yet. Christie said Trump is the best person to beat Hillary Clinton, who is leading polls for the Democratic nomination. Christie, the governor of New Jersey, ended his own bid for the presidency earlier this campaign season.
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From:: Stock Market News
Two Hidalgo Housing and Urban Development officials were sentenced for conspiracy to commit bribery. The officials admitted they took bribes from Section 8 housing applicants in exchange for letting them skip the waiting line to immediately obtain housing assistance from the Housing Authority. …read more
From:: Real Estate Wire
Two former Hidalgo, Texas housing officials were sentenced for conspiracy to commit bribery. The officials admitted they took bribes from Section 8 housing applicants in exchange for letting them skip the waiting line to immediately obtain housing assistance from the local Housing Authority. …read more
From:: Real Estate Wire
Macy’s Inc. said on Friday that it is adding $1.5 billion to its share repurchase program. The company also announced a 5% increase to the quarterly dividend, raising it to 37.75 cents per share from 36 cents. The board has yet to set the record date, but it’s expected to be on or about June 15. It’s effective with the July 1 dividend payment. Macy’s shares are up 0.6% in Friday trading, and up 24.8% for the year so far. The S&P 500 is down 4.2% for the year-to-date.
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From:: Stock Market News
Tupperware Brands Corp. was downgraded to sector weight from overweight at KeyBanc Capital Markets on concerns about the company’s ability to offset struggling emerging markets with growth in other regions. Brazil and China have become headwinds for many companies, with Indonesia, India and Malaysia also becoming “much more challenged,” KeyBanc analysts said in a Friday note. A number of these countries “are among Tupperware’s larger regions.” The company is relying on North America to generate 6% to 8% organic growth, which leaves “little room for error,” the note said. Analysts also view the announcement that Tupperware’s 10-K has been delayed as “another complication that this story did not need.” Tupperware shares are up 1.4% in Friday trading, but are down 31.8% for the past year. The S&P 500 is down 7.4% for the past 12 months.
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From:: Stock Market News
We need more affordable housing, and not only for the poor, but for nurses and teachers that qualify for affordable, mixed-income housing. Too many “high opportunity” communities vigorously resist affordable housing. …read more
From:: Real Estate Wire
U.S. stocks opened higher on Friday, boosted by a jump in oil prices and an upgrade to the fourth-quarter economic growth rate. The main indexes were on track to finish the week higher for a second week in a row. The S&P 500 opened 8 points, or 0.4%, higher at 1,960. The Dow Jones Industrial Average gained 90 points, or 0.5%, to 16,788. Meanwhile, the Nasdaq Composite began the day up 33 points, or 0.7%, at 4,615.
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From:: Stock Market News
Foot Locker Inc. on Friday reported quarterly results that came in above Wall Street’s expectations. Fourth-quarter net earnings at the athletic-products retailer rose to $158 million, or $1.14 a share, from $146 million, or $1.01 a share, a year earlier. Adjusted earnings for the most recent period were $1.16 a share. Sales rose to $2.007 billion from $1.91 billion. Analysts polled by FactSet had expected adjusted earnings of $1.12 a share on sales of $2.006 billion. Same-store sales for the quarter were higher by 7.9%. Foot Locker shares pushed higher by 4.4% in premarket trade following the results.
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From:: Stock Market News