Tag Archive: stock market

U.S. oil prices log biggest 1-week decline in over a month

Prices for U.S. benchmark crude finished with a loss on Friday, to suffer their largest one-week decline in more than a month. Concerns about growing U.S. crude production, along with expectations for a rise in domestic output to a record annual level, pressured prices despite data earlier this week that revealed U.S. crude supplies fell for a ninth week in a row. February West Texas Intermediate crude lost 58 cents, or 0.9%, to settle at $63.37 a barrel on the New York Mercantile Exchange. It fell about 1.5% for the week. The February contract expires at Monday’s settlement.

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Schumer cites ‘progress’ after Trump meeting but no deal to avoid shutdown

Senate Minority Leader Charles Schumer said he “made some progress” in talks with President Donald Trump to avoid a government shutdown early Saturday, but added there were still disagreements. “The discussion will continue,” the New York Democrat told reporters after meeting Trump at the White House. Without a deal the federal government would partially shut down at midnight, for the first time since 2013.

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L.A. Times newsroom votes to unionize after long fight with management

The Los Angeles Times newsroom, after a fight with parent company Tronc Inc. , voted on Friday to unionize. The final count was was 248 in favor and 44 against. The newsroom had, in this most recent effort, been pushing to unionize for nearly a year. The staffers who were part of the movement said it was fueled by years of mismanagement at the paper. The win for the newsroom comes after news that Tronc is investigating L.A. Times publisher Ross Levinsohn after NPR reported his past of sexual harassment and misconduct. Shares of Tronc have gained roughly 50% in the last 12 months, while the S&P 500 index is up 24% and the Dow Jones Industrial Average is up almost 32%.

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Supreme Court to rule on Trump’s travel ban

The U.S. Supreme Court will hear arguments about President Donald Trump’s travel ban in April, it announced Friday. Trump’s ban was struck down last month by a federal appeals court in San Francisco. A final ruling is expected by late June.

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From:: Stock Market News

Supreme Court to rule on Trump’s travel ban

The U.S. Supreme Court will hear arguments about President Donald Trump’s travel ban in April, it announced Friday. Trump’s ban was struck down last month by a federal appeals court in San Francisco. A final ruling is expected by late June.

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Gold prices settle higher to cut their loss for the week

Gold prices settled higher Friday, cutting their loss for the week down to roughly 0.1%, with the market wary of a potential U.S. government shutdown this weekend. The weekly decline for the yellow metal, however, followed five weeks of gains in a row. February gold rose $5.90, or 0.4%, to settle at $1,333.10 an ounce.

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Baker Hughes reports a weekly decline in the U.S. oil-rig count

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 5 at 747 this week. The oil-rig count had climbed by 10 last week. The total active U.S. rig count, which includes oil and natural-gas rigs, also declined by 3 to 936, according to Baker Hughes. February West Texas Intermediate crude was down 61 cents, or 1%, from Thursday, to $63.34 a barrel–up from $63.29 shortly before the rig data.

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Trump asks Schumer to White House to strike deal averting shutdown: report

President Donald Trump has reached out to Senate Minority Leader Charles Schumer, inviting him to the White House to try to strike a deal to avert a government shutdown, according to New York Times reporter Maggie Haberman. Without a deal before midnight the federal government would partially shut down for the first time since 2013.

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A.O. Smith stock rises toward record after dividend hike

Shares of A.O. Smith Corp. traded up 0.9% in midday trade Friday, putting them on track for a record close, after the maker of water heating equipment said it raised its quarterly dividend by 29%. The new dividend of 18 cents a share, which is up from 14 cents a share, will be payable Feb. 15 to shareholders of record on Jan. 31. At current share prices, the new annual dividend rate implies a dividend yield of 1.08%, compared with an implied yield for the S&P 500 of 2.02%, according to FactSet. “The company’s strong balance sheet and cash-generating ability give us the confidence to increase our dividend,” said Chief Executive Ajita Rajendra. The stock has rallied 40% over the past 12 months, while the S&P 500 has gained 24%.

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10-year Treasury yield seesaws around 3-year high as shutdown looms

The 10-year Treasury note yield is flitting around a 3-year high amid speculation that the federal government could go into a partial government shutdown if a stopgap spending bill is not passed. The yield for the benchmark maturity was at 2.635%, the highest since September 2014, according to Tradeweb. In addition, improving global growth and growing inflation concerns have put U.S. government paper under pressure. Debt prices fall when yields rise. Investing luminaries including Bill Gross of Janus Henderson and Jeffrey Gundlach of DoubleLine Capital have recently warned that a bond bear market could end the the record bull run in equities.

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From:: Stock Market News