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Dollar Slides Lower Ahead of Powell Testimony

July 17, 2018, 07:54

Investing.com - The dollar slid lower against a currency basket on Tuesday ahead of congressional testimony by Federal Reserve Chairman Jerome Powell, which markets will be watching closely for any indications on the path of interest rate hikes.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.12% to 94.16 by 03:37 AM ET (07:37 AM GMT).

Powell is to begin two days of testimony on the economy and monetary policy later Tuesday when he appears before the U.S. Senate Banking Committee in Washington.

He is due to appear before the House of Representatives Financial Services Committee on Wednesday.

Powell is expected to reiterate that the Fed is on track to continue with a gradual pace of rate hikes but investors will be on the lookout for any indications that U.S. trade policy is clouding the outlook for tightening.

On Monday, the International Monetary Fund warned that escalating trade tensions are threatening to derail the economic recovery, adding that financial markets seem complacent to the mounting risk.

The dollar was steady against the yen, with USD/JPY last at 112.33, holding below last Friday’s six-month highs of 112.79.

Financial markets In Japan reopened on Tuesday after a holiday on Monday.

The euro pushed higher against the softer dollar, with EUR/USD rising 0.18% to 1.1729.

The pound was a touch higher, with GBP/USD edging up 0.1% tp 1.3247.

Meanwhile, the Australian dollar was slightly higher, with AUD/USD gaining 0.13 to trade at 0.7428.

The New Zealand dollar climbed higher, with NZD/USD advancing 0.81% to a near one-week high of 0.6833.

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China stocks lower at close of trade; Shanghai Composite down 0.55%

July 17, 2018, 07:35

Investing.com – China stocks were lower after the close on Tuesday, as losses in the Media, Oil Equipment Services&Distribution and Telecoms sectors led shares lower.

At the close in Shanghai, the Shanghai Composite fell 0.55%, while the SZSE Component index fell 0.35%.

The best performers of the session on the Shanghai Composite were Aurora Optoelectronics Co Ltd (SS:600666), which rose 10.08% or 0.390 points to trade at 4.260 at the close. Meanwhile, Nanjing Chemical Fibre Co Ltd (SS:600889) added 10.04% or 0.520 points to end at 5.700 and China Sports Industry Group Co Ltd (SS:600158) was up 10.04% or 1.100 points to 12.060 in late trade.

The worst performers of the session were Henan Oriental Silver Star Investment Co Ltd (SS:600753), which fell 10.00% or 2.60 points to trade at 23.41 at the close. Anji Foodstuff Co Ltd (SS:603696) declined 10.00% or 1.850 points to end at 16.650 and Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) was down 9.99% or 0.710 points to 6.400.

The top performers on the SZSE Component were Beijing Easpring Material Tech (SZ:300073) which rose 10.01% to 34.61, Shenzhen Tatfook Tech (SZ:300134) which was up 9.99% to settle at 10.68 and ZTE Corp (SZ:000063) which gained 9.99% to close at 17.06.

The worst performers were BGI Genomics Co Ltd (SZ:300676) which was down 10.00% to 83.07 in late trade, JPMF Guangdong Co Ltd (SZ:002600) which lost 9.96% to settle at 4.34 and Yinji Entertainment Media Co Ltd (SZ:002143) which was down 9.95% to 5.79 at the close.

Rising stocks outnumbered declining ones on the Shanghai Stock Exchange by 676 to 660 and 83 ended unchanged.

Shares in Henan Oriental Silver Star Investment Co Ltd (SS:600753) fell to 52-week lows; losing 10.00% or 2.60 to 23.41. Shares in Anji Foodstuff Co Ltd (SS:603696) fell to 52-week lows; falling 10.00% or 1.850 to 16.650. Shares in Ningxia Xinri Hengli Steel Wire Rope Co Ltd (SS:600165) fell to 52-week lows; falling 9.99% or 0.710 to 6.400. Shares in JPMF Guangdong Co Ltd (SZ:002600) fell to 52-week lows; falling 9.96% or 0.48 to 4.34. Shares in Yinji Entertainment Media Co Ltd (SZ:002143) fell to 3-years lows; falling 9.95% or 0.64 to 5.79.

The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 22.26.

Gold Futures for August delivery was up 0.27% or 3.30 to $1243.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.01% or 0.01 to hit $67.06 a barrel, while the September Brent oil contract rose 0.08% or 0.06 to trade at $71.90 a barrel.

USD/CNY was down 0.12% to 6.6824, while EUR/CNY rose 0.02% to 7.8377.

The US Dollar Index Futures was down 0.12% at 94.16.

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Taiwan stocks lower at close of trade; Taiwan Weighted down 0.36%

July 17, 2018, 06:45

Investing.com – Taiwan stocks were lower after the close on Tuesday, as losses in the , Electronic Parts/Components and Machinery sectors led shares lower.

At the close in Taiwan, the Taiwan Weighted fell 0.36%.

The best performers of the session on the Taiwan Weighted were Min Aik Precision Industrial Co Ltd (TW:4545), which rose 9.98% or 3.30 points to trade at 36.35 at the close. Meanwhile, Chia Ta World Co Ltd (TW:2033) added 9.72% or 1.05 points to end at 11.85 and Crowell Development Corp (TW:2528) was up 8.14% or 1.20 points to 15.95 in late trade.

The worst performers of the session were Green Seal Holding Ltd (TW:1262), which fell 9.86% or 3.10 points to trade at 28.35 at the close. Hiwin Technologies Corp (TW:2049) declined 9.30% or 32.00 points to end at 312.00 and Advanced Power Electronics Corp (TW:8261) was down 9.19% or 5.10 points to 50.40.

Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 442 to 339 and 135 ended unchanged.

Crude oil for September delivery was down 0.34% or 0.23 to $66.84 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.39% or 0.28 to hit $71.56 a barrel, while the August Gold Futures contract rose 0.23% or 2.80 to trade at $1242.50 a troy ounce.

USD/TWD was down 0.13% to 30.503, while TWD/CNY rose 0.05% to 0.2191.

The US Dollar Index Futures was down 0.12% at 94.16.

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Australia stocks lower at close of trade; S&P/ASX 200 down 0.64%

July 17, 2018, 06:00

Investing.com – Australia stocks were lower after the close on Tuesday, as losses in the Energy, Resources and Utilities sectors led shares lower.

At the close in Sydney, the S&P/ASX 200 fell 0.64%.

The best performers of the session on the S&P/ASX 200 were Technology One Ltd (AX:TNE), which rose 8.56% or 0.375 points to trade at 4.755 at the close. Meanwhile, Metcash Ltd (AX:MTS) added 4.03% or 0.100 points to end at 2.580 and Seven West Media Ltd (AX:SWM) was up 2.65% or 0.023 points to 0.873 in late trade.

The worst performers of the session were Sigma Pharmaceuticals Ltd (AX:SIG), which fell 3.54% or 0.018 points to trade at 0.477 at the close. Worleyparsons Ltd (AX:WOR) declined 3.40% or 0.610 points to end at 17.330 and Wisetech Global Ltd (AX:WTC) was down 3.29% or 0.580 points to 17.070.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 675 to 511 and 345 ended unchanged.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 5.83% to 12.991.

Gold Futures for August delivery was up 0.10% or 1.30 to $1241.00 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.24% or 0.16 to hit $66.91 a barrel, while the September Brent oil contract fell 0.21% or 0.15 to trade at $71.69 a barrel.

AUD/USD was up 0.11% to 0.7427, while AUD/JPY rose 0.20% to 83.48.

The US Dollar Index Futures was down 0.02% at 94.25.

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Dollar Steadies Ahead of Powell’s Testimony

July 17, 2018, 05:46

Investing.com – The dollar was little changed on Tuesday as investors awaited further clues on monetary policy when Federal Reserve Chairman Jerome Powell testify on the economy and monetary policy later in the day.

The U.S. Dollar Index that tracks the dollar against a basket of six major currencies slipped 0.01% at 94.26 by 1:44AM ET (05:44 GMT). Powell will testify before the U.S. Senate Banking Committee at 10:00AM ET (14:00 GMT) on Tuesday, followed by a testimony at the same time on Wednesday to the House of Representatives Financial Services Committee.

Ahead of Powell’s appearance, the Fed gave a positive assessment of the U.S. economy, insisting that strong labor markets and inflation would support the central bank’s plan to continue with gradual rate hikes.

Analysts and many of Powell’s colleagues expect two more interest rate increases this year amid a continued economic expansion. The U.S. Commerce Department revealed on Monday that the country’s retail sales increased by 0.5% for the fifth month in a row, further supporting expectations of a Fed interest rate increase.

“In short, we expect the chairman to signal optimism on growth and inflation, consistent with continued ‘gradual’ tightening,” wrote Jim O’Sullivan, chief economist at High Frequency Economics.

“He will undoubtedly acknowledge some downside risks associated with the administration’s trade warmongering, but he will likely try to avoid sounding critical of the administration.”

Elsewhere, the AUD/USD pair rose 0.19% to 0.7434, while the USD/JPY pair gained 0.11% to 112.42.

“It seems that the dollar-yen is kind of immune to the Chinese risk at the moment,” said Mizuho Securities' chief currency strategist Masafumi Yamamoto. “But there is a risk that if the Shanghai Composite remains weak and the renminbi keeps depreciating, it will cap the Australian dollar’s top side,” he said.

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Gold Prices Little Changed as Dollar Steadies Ahead of Powell’s Testimony

July 17, 2018, 05:26

Investing.com – Gold prices were little changed on Tuesday as the dollar steadied ahead of the U.S. Federal Reserve Chairman Jerome Powell’s first congressional testimony.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange gained 0.08% to $1,241.00 a troy ounce by 01:20AM ET (05:20 GMT).     

The U.S. Dollar Indexthat tracks the dollar against a basket of six major currencies was unchanged at 94.48 on Tuesday as traders awaited further clues on monetary policy when Powell testify on the economy and monetary policy before the U.S. Senate Banking Committee later in the day.

The dollar plays a crucial role in determining gold’s direction, as a stronger dollar makes gold more expensive for holders of foreign currency.   

Ahead of Powell’s appearance, the Fed gave a positive assessment of the U.S. economy, insisting that strong labor markets and inflation would support the central bank’s plan to continue with gradual rate hikes.

Analysts and many of Powell’s colleagues expect two more interest rate increases this year amid a continued economic expansion. The U.S. Commerce Department revealed on Monday that the country’s retail sales increased by 0.5% for the fifth month in a row, further supporting expectations of a Fed interest rate increase.

Higher rates are negative for gold as the precious metal struggles to compete with yield-bearing assets when rates rise.

The precious metal was under pressure in recent weeks by investors’ favour of the dollar over gold surrounding the impact of a U.S.-China trade war.   

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Crypto Prices Surge as BlackRock Shows Interest in Virtual Coin Market

July 17, 2018, 04:57

Investing.com – Bitcoin and other major cryptocurrencies prices surged on Tuesday after reports revealed that investment giant BlackRock Inc (NYSE:BLK). is looking into cryptocurrency investments.

Bitcoin  was trading at $6,718.5 by 12:55AM ET (04:55 GMT) on the Bitfinex exchange, up 5.4% in the last 24 hours.  

Ethereum, the world’s second largest cryptocurrency by market cap, gained 6.2% to $477.4 on the Bitifinex exchange.  

Ripple’s XRP token was also up 7.4% to $0.47916 on the Poloniex exchange.  

Meanwhile, Litecoin jumped 6.7% and traded at $84.2. 

However, BlackRock CEO Larry Fink denied such plans by the company. “I don’t believe any client has sought out crypto exposure. I’ve not heard from one client who says, “I need to be in this,”” Fink told Bloomberg TV in an interview, adding that at this stage the company is merely keeping an eye on the market to see how it behaves.

BlackRock discussed cryptocurrency and blockchain technology in a company report published in February. “We see cryptocurrencies potentially becoming more widely used in the future as the market matures,” BlackRock said in the report. “Yet for now we believe they should only be considered by those who can stomach potentially complete losses. Similarly, blockchain needs to overcome significant hurdles to reach its promising future.”

“BlackRock entering the crypto market is great news for the industry and one which was to be expected. It was always a question of when not if, “Iqbal Gandham, UK managing director of trading platform eToro, told The Independent.

In other news, several banks and regulators in Hong Kong said on Tuesday they would jointly launch a trade finance platform in September using blockchain technology.

The platform would be one of the largest government-led, cross-bank effort to reform the trade finance sector using technology that underpins virtual coins such as Bitcoin.

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Oil Prices Edge Up After Slumping More Than 4% Following Mnuchin’s Comments

July 17, 2018, 04:04

Investing.com – Oil prices rebounded on Tuesday after plunging more than 4% in the previous session as U.S. Treasury Secretary Steven Mnuchin said the U.S. is considering waivers on Iran sanctions for some crude importers.

Crude Oil WTI Futures for September delivery were trading at $67.16 a barrel at 12:05AM ET (04:05 GMT), up 0.15%. Brent Oil Futures for September delivery, traded in London, were also up 0.5% at $72.18 per barrel. 

Mnuchin told reporters that the U.S. wants to avoid disrupting global oil markets and is considering waivers for countries that need more time to wind down imports of oil from Iran while reimposing sanctions against Tehran.

President Donald Trump withdrew the U.S. from the 2015 Iran nuclear deal and restored sanctions on Tehran in May.

"We want people to reduce oil purchases to zero, but in certain cases if people can't do that overnight, we'll consider exceptions," Mnuchin said. His comments contradicted some U.S. officials' comments earlier that said there would be no exemptions.

Officials from the U.S. State Department and U.S. Treasury are expected for talks in Delhi this week to discuss Iran sanctions, according to Indian officials.

Meanwhile, recent reports that Saudi Arabia offers more crude cargoes to Asian customers were also cited as headwind for oil prices. Meanwhile, U.S. President Donald Trump was reportedly considering tapping the nation’s emergency oil supply to tame rising fuel prices.

U.S. West Texas Intermediate crude oil prices ended Monday's session down $2.95, or 4.2%, at $68.06.

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Asian Stocks Slide as Traders Shift Focus to Earnings

July 17, 2018, 01:21

Investing.com – Asian markets slid in morning trade on Monday following a mixed close in the U.S. as traders shifted their focus to corporate earnings.

Overnight, The Dow Jones Industrial Average rose 0.2%, while the S&P 500 and the Nasdaq Composite slipped 0.1 and 0.3% respectively as Netflix (NASDAQ:NFLX) plunged after the company reported disappointing subscriber growth.

In Asia, Australia’s S&P/ASX 200 eased 0.5% by 9:41PM ET (01:41 GMT). Oil producers led the losses, with Woodside Petroleum and Santos falling more than 1%. Oil prices extended losses on Tuesday after U.S. Treasury Secretary Steve Mnuchin said the U.S. is considering waivers on Iran sanctions for some crude importers.

South Korea’s KOSPI slipped 0.2%. Finance Minister Kim Dong-yeon said the government will consider multiple options to subsidize low-income earners and small businesses amid concerns of potential job losses following a wage hikes announced on Saturday.

"Inevitably we will focus on the impact from minimum wage (hikes) in economic policymaking in the second half," Kim said at a government and party meeting in Seoul.

The country’s Minimum Wage Commission said over the weekend that the minimum wage would increase another 10.9% to 8,350 won an hour, after announcing a 16% increase for 2018.

Elsewhere, China’s Shanghai Composite and the Shenzhen Component 1% and 0.8% lower. The country's average new home prices in 70 major cities increased 5%, quickening from the 4.7% gain in May, data showed on Tuesday, although its impact on equities seemed to be limited.

Japan’s Nikkei 225 resumed online after a public holiday on Monday and rose 0.6%. Hong Kong’s Hang Seng Index was down 1.1% in morning trade.

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Peru stocks lower at close of trade; S&P Lima General down 0.11%

July 16, 2018, 09:25

Investing.com – Peru stocks were lower after the close on Monday, as losses in the Mining, Industrials and Non-Metal Minerals sectors led shares lower.

At the close in Lima, the S&P Lima General declined 0.11%.

The best performers of the session on the S&P Lima General were Edegel (LM:EDE), which rose 2.44% or 0.050 points to trade at 2.100 at the close. Meanwhile, Cerro Verde (LM:CVE) added 2.22% or 0.500 points to end at 23.000 and ENGIE Energia Peru SA (LM:ENGI) was up 1.51% or 0.100 points to 6.700 in late trade.

The worst performers of the session were Trevali Mining (LM:TV), which fell 3.39% or 0.020 points to trade at 0.570 at the close. Volcan Minera (LM:VOL_pb) declined 2.41% or 0.020 points to end at 0.810 and Relapasa (LM:REL) was down 2.38% or 0.005 points to 0.205.

Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 12 to 8 and 17 ended unchanged.

Shares in Trevali Mining (LM:TV) fell to 52-week lows; losing 3.39% or 0.020 to 0.570. Shares in Relapasa (LM:REL) fell to 52-week lows; losing 2.38% or 0.005 to 0.205.

Crude oil for September delivery was down 4.09% or 2.86 to $67.09 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.01% or 0.01 to hit $71.98 a barrel, while the August Gold Futures contract fell 0.02% or 0.20 to trade at $1241.00 a troy ounce.

USD/PEN was down 0.00% to 3.2686, while EUR/PEN rose 0.25% to 3.8270.

The US Dollar Index Futures was down 0.18% at 94.27.

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Mexico stocks higher at close of trade; S&P/BMV IPC up 0.10%

July 16, 2018, 08:29

Investing.com – Mexico stocks were higher after the close on Monday, as gains in the Telecoms Services, Financial Services and Industrials sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC rose 0.10%.

The best performers of the session on the S&P/BMV IPC were Grupo Televisa SAB Unit (MX:TLVACPO), which rose 2.96% or 2.28 points to trade at 79.30 at the close. Meanwhile, Grupo Aeroportuario Del Sureste (MX:ASURB) added 2.01% or 6.31 points to end at 319.85 and Grupo Aeroportuario Del CentroNorte (MX:OMAB) was up 1.90% or 2.040 points to 109.150 in late trade.

The worst performers of the session were Grupo Elektra , S.A.B. De C.V. (MX:ELEKTRA), which fell 3.61% or 21.92 points to trade at 585.49 at the close. VOLARIS A (MX:VOLARA) declined 2.94% or 0.36 points to end at 11.89 and Cemex SAB de CV (MX:CMXCPO) was down 1.63% or 0.210 points to 12.650.

Falling stocks outnumbered advancing ones on the Mexico Stock Exchange by 161 to 123 and 2 ended unchanged.

Gold Futures for August delivery was down 0.01% or 0.10 to $1241.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 4.17% or 2.92 to hit $67.03 a barrel, while the September Brent oil contract fell 4.58% or 3.45 to trade at $71.88 a barrel.

USD/MXN was down 0.35% to 18.8110, while EUR/MXN fell 0.16% to 22.0385.

The US Dollar Index Futures was down 0.20% at 94.25.

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Bitcoin Rallies as BlackRock Confirms Interest in Cryptos

July 16, 2018, 08:31

Investing.com – Bitcoin rose Monday as signs of institutional demand renewed investor appetite for cryptos.

Bitcoin rose 4.70% to $6,666.5 on the Bitfinex exchange, from a low of $6,711.0.

BlackRock reportedly confirmed that it was preparing to set up a working group to look into cryptocurrencies and blockchain, raising investor appetite for cryptos amid expectations that a bigger role by institutionals would further legitimize cryptos as an asset class on Wall Street.

"We are a big student of blockchain,” BlackRock CEO Larry Fink said. He added, however, he does not see "huge demand for cryptocurrencies."

Interest in cryptos from Wall Street has gathered pace in recent months as Fidelity, one the biggest Wall Street firms, revealed plans last month to create a suite of products that would push the market for bitcoin to the next level.

The entrance of institutional investors to the crypto industry may not be the panacea many believe, however, according to a letter published from the San Francisco Federal Reserve earlier in the year.

The San Francisco Fed noted in May that the launch of bitcoin futures, which attracted institutional interest, contributed to the selloff in bitcoin as it paved the way for traders to bet against the popular crypto.

The renewed interest in crypto saw inflows return to the market, raising the total market cap by billions of dollars, underpinning a rally in the broader market.

The total market cap of cryptocurrencies rose to about $269 billion, at the time of writing, from about $245 billion last week.

Ripple XRP rose 5.79% to $0.47400 on the Poloniex exchange, while Ethereum rose 5.39% to $477.51.

Bitcoin Cash rose 10.42% to $804.08, while Litecoin rose 5.15% to $83.11.

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Canada stocks lower at close of trade; S&P/TSX Composite down 0.49%

July 16, 2018, 08:25

Investing.com – Canada stocks were lower after the close on Monday, as losses in the Healthcare, Energy and Industrials sectors led shares lower.

At the close in Toronto, the S&P/TSX Composite fell 0.49%.

The best performers of the session on the S&P/TSX Composite were Turquoise Hill Resources Ltd. (TO:TRQ), which rose 3.77% or 0.140 points to trade at 3.850 at the close. Meanwhile, NFI Group Inc (TO:NFI) added 3.13% or 1.52 points to end at 50.05 and Linamar Corporation (TO:LNR) was up 2.75% or 1.54 points to 57.62 in late trade.

The worst performers of the session were Guyana Goldfields Inc . (TO:GUY), which fell 21.78% or 1.050 points to trade at 3.770 at the close. Aphria Inc (TO:APH) declined 7.23% or 0.850 points to end at 10.900 and Aurora Cannabis Inc (TO:ACB) was down 6.50% or 0.560 points to 8.060.

Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 630 to 461 and 117 ended unchanged.

Shares in Guyana Goldfields Inc. (TO:GUY) fell to 52-week lows; losing 21.78% or 1.050 to 3.770.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 4.53% to 14.07.

Gold Futures for August delivery was up 0.01% or 0.10 to $1241.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 4.12% or 2.88 to hit $67.07 a barrel, while the September Brent oil contract fell 4.46% or 3.36 to trade at $71.97 a barrel.

CAD/USD was up 0.16% to 0.7613, while CAD/EUR fell 0.11% to 0.6497.

The US Dollar Index Futures was down 0.20% at 94.25.

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U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.18%

July 16, 2018, 08:25

Investing.com – U.S. stocks were mixed after the close on Monday, as gains in the Financials, Telecoms and Consumer Services sectors led shares higher while losses in the Oil&Gas, Basic Materials and Healthcare sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average added 0.18%, while the S&P 500 index lost 0.10%, and the NASDAQ Composite index declined 0.26%.

The best performers of the session on the Dow Jones Industrial Average were JPMorgan Chase&Co (NYSE:JPM), which rose 3.97% or 4.22 points to trade at 110.58 at the close. Meanwhile, Goldman Sachs Group Inc (NYSE:GS) added 2.22% or 5.03 points to end at 231.44 and Cisco Systems Inc (NASDAQ:CSCO) was up 1.72% or 0.72 points to 42.50 in late trade.

The worst performers of the session were Caterpillar Inc (NYSE:CAT), which fell 1.90% or 2.67 points to trade at 138.08 at the close. Exxon Mobil Corp (NYSE:XOM) declined 0.98% or 0.82 points to end at 82.49 and Johnson&Johnson (NYSE:JNJ) was down 0.98% or 1.24 points to 124.69.

The top performers on the S&P 500 were Arconic Inc (NYSE:ARNC) which rose 10.47% to 19.20, VF Corporation (NYSE:VFC) which was up 4.67% to settle at 88.80 and Bank of America Corp (NYSE:BAC) which gained 4.31% to close at 29.78.

The worst performers were Alliance Data Systems Corp (NYSE:ADS) which was down 10.07% to 218.97 in late trade, Marathon Oil Corporation (NYSE:MRO) which lost 6.70% to settle at 20.04 and Chesapeake Energy Corporation (NYSE:CHK) which was down 5.59% to 4.900 at the close.

The top performers on the NASDAQ Composite were MER Telemanagement Solutions Ltd (NASDAQ:MTSL) which rose 79.75% to 2.8400, Coda Octopus Group Inc (NASDAQ:CODA) which was up 64.44% to settle at 6.1500 and Genetic Technologies Ltd (NASDAQ:GENE) which gained 35.78% to close at 1.480.

The worst performers were Innovate Biopharmaceuticals Inc (NASDAQ:INNT) which was down 65.91% to 8.08 in late trade, Ability Inc (NASDAQ:ABIL) which lost 28.81% to settle at 5.05 and ShiftPixy Inc (NASDAQ:PIXY) which was down 27.92% to 3.33 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1998 to 1050 and 119 ended unchanged; on the Nasdaq Stock Exchange, 1502 fell and 1024 advanced, while 148 ended unchanged.

Shares in VF Corporation (NYSE:VFC) rose to all time highs; gaining 4.67% or 3.96 to 88.80. Shares in MER Telemanagement Solutions Ltd (NASDAQ:MTSL) rose to 52-week highs; rising 79.75% or 1.2600 to 2.8400. Shares in Coda Octopus Group Inc (NASDAQ:CODA) rose to 52-week highs; up 64.44% or 2.4100 to 6.1500.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 4.43% to 12.72.

Gold Futures for August delivery was up 0.01% or 0.10 to $1241.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 4.12% or 2.88 to hit $67.07 a barrel, while the September Brent oil contract fell 4.46% or 3.36 to trade at $71.97 a barrel.

EUR/USD was up 0.25% to 1.1715, while USD/JPY fell 0.11% to 112.26.

The US Dollar Index Futures was down 0.20% at 94.25.

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Brazil stocks higher at close of trade; Bovespa up 0.10%

July 16, 2018, 08:25

Investing.com – Brazil stocks were higher after the close on Monday, as gains in the Industrials, Consumption and Public Utilities sectors led shares higher.

At the close in Sao Paulo, the Bovespa added 0.10% to hit a new 1-month high.

The best performers of the session on the Bovespa were Gol Linhas Aereas Inteligentes SA Pref (SA:GOLL4), which rose 11.60% or 1.30 points to trade at 12.51 at the close. Meanwhile, Smiles Fidelidade SA (SA:SMLS3) added 3.97% or 2.06 points to end at 54.01 and Cvc Brasil ON (SA:CVCB3) was up 3.79% or 1.64 points to 44.89 in late trade.

The worst performers of the session were Cosan SA Industria e Comercio (SA:CSAN3), which fell 2.90% or 1.11 points to trade at 37.15 at the close. Multiplan SA (SA:MULT3) declined 2.30% or 1.36 points to end at 57.77 and Cyrela Brazil Realty SA (SA:CYRE3) was down 2.19% or 0.26 points to 11.62.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 228 to 226 and 33 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 3.00% to 31.97.

Gold Futures for August delivery was up 0.02% or 0.20 to $1241.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 4.13% or 2.89 to hit $67.06 a barrel, while the September US coffee C contract rose 0.41% or 0.45 to trade at $110.42 .

USD/BRL was up 0.38% to 3.8648, while EUR/BRL rose 0.63% to 4.5274.

The US Dollar Index Futures was down 0.20% at 94.25.

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Day Ahead: Top 3 Things to Watch

July 16, 2018, 08:23

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.

1. J&J, Goldman Sachs {{0|Goldman Sachs}}) Lead Earnings Report

Two Dow components will headline earnings reports ahead of trading Tuesday.

Johnson & Johnson (NYSE:JNJ) is forecast to earn $2.07 per share for the latest quarter on revenue of $20.39 billion. But apart from the numbers, investors will be listening to the conference call for any updates about a recent judgment to pay $4.7 billion to women who said J&J’s talcum powder resulted in ovarian cancer.

Goldman Sachs (NYSE:GS) is expected to earn $4.63 a share on revenue of $8.66 billion. Trading revenue will be in focus given JP Morgan's (NYSE:JPM) outperformance in that area.

Goldman Sachs is also expected to reveal that President David M. Solomon will succeed Lloyd C. Blankfein as the bank's next chief executive officer Tuesday.

Also reporting are Charles Schwab (NYSE:SCHW) and UnitedHealth Group (NYSE:UNH).

2. Fed Chief Powell Heads to Capitol Hill

Federal Reserve Chairman Jerome Powell heads to Capitol Hill Tuesday for the first appearance of his two-day Humprey-Hawkins testimony to Congress.

He will appear at the Senate Banking Committee first before appearing before the House Financial Services Committee.

Based on recent data and comments from Federal Open Market Committee members, the Fed is content with its plan of gradually increasing interest rates, which likely means two more hikes before the end of the year.

There is a more than 90% chance that rates will go up at the September meeting and a more than 60% chance of another rate hike in December, according to Investing.com’s Fed Rate Monitor Tool.

Congressional testimony from the Fed chief rarely elicits hints on the direction of interest rates beyond what the central bank has already intimated. But there could be interesting comments on the state of the economy and the impact of the new U.S. trade strategy.

According to the latest University of Michigan report on July consumer sentiment, “negative concerns about the potential impact (of tariffs) had risen from 15% in May to currently 38% in July, while 52% of those surveyed in the top third of income distribution - equivalent to half of consumer spending - negatively mentioned the economic impact.”

3. Netflix Tumbles on Weak Subscriber Growth

Tech stocks could face weakness tomorrow after Netflix (NASDAQ:NFLX) reported disappointing earnings after the bell Monday.

The stock fell nearly 13% in after-hours trading.

The company reported subscriber growth – a key metric for the streaming service – well below what analysts predicted.

Netflix added 670,000 U.S. subscribers in the second quarter, far from the 1.19 million Reuters consensus estimate.

Revenue came in at $3.91 billion, lower than the $3.94 billion expected.

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Colombia stocks higher at close of trade; COLCAP up 0.30%

July 16, 2018, 08:15

Investing.com – Colombia stocks were higher after the close on Monday, as gains in the Financials, Investment and Public Services sectors led shares higher.

At the close in Colombia, the COLCAP gained 0.30%.

The best performers of the session on the COLCAP were Interconnection Electric SA ESP (CN:ISA), which rose 1.00% or 140.0 points to trade at 14160.0 at the close. Meanwhile, Bcolombia (CN:BIC) added 0.86% or 300.0 points to end at 35000.0 and Pfgrupsura (CN:SIS_p) was up 1.75% or 620.0 points to 35980.0 in late trade.

The worst performers of the session were Cemex Latam Holdings SA (CN:CLH), which fell 1.72% or 140.0 points to trade at 7990.0 at the close. Ecopetrol SA (CN:ECO) declined 0.84% or 25.0 points to end at 2940.0 and Grupoaval (CN:GAA) was down 0.84% or 10.0 points to 1180.0.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 16 to 14 and 2 ended unchanged.

Shares in Cemex Latam Holdings SA (CN:CLH) fell to 5-year lows; falling 1.72% or 140.0 to 7990.0.

US coffee C for September delivery was up 0.41% or 0.45 to $110.42 . Elsewhere in commodities trading, US cocoa for delivery in September fell 4.27% or 107.00 to hit $2399.00 , while the August Gold Futures contract rose 0.01% or 0.10 to trade at $1241.30 a troy ounce.

USD/COP was up 0.40% to 2870.50, while BRL/COP rose 0.10% to 743.33.

The US Dollar Index Futures was down 0.19% at 94.26.

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Stocks - Nasdaq Closes Lower; Netflix Sinks as Revenue, Guidance Misses

July 16, 2018, 07:49

Investing.com – U.S. stocks closed roughly flat on Monday, weighed down by a fall in energy as oil prices plunged, keeping a lid on gains in the broader market amid mostly positive earnings from large corporates.

The Dow Jones Industrial Average rose about 0.18%. The S&P 500 fell roughly 0.13%, while the Nasdaq Composite lost about 0.26%.

BlackRock and Bank of America reported second-quarter earnings beats, but investors dumped BlackRock (NYSE:BLK) stock as the bank reported a slowdown in inflows.

Yet the more-than-4% gain in Bank of America (NYSE:BAC) stock more than offset losses, driving financials to a solid gain for the day.

The upbeat performance in financials, however, were offset by a slump in the energy sector on falling oil prices. Oil prices settled lower on expectations the loss of Iranian crude from the global market would be less than many had anticipated after the U.S. said it may provide waivers to some importers of Iranian crude.

On the New York Mercantile Exchange crude futures for August delivery fell 4.2% to settle at $68.08 a barrel.

Overall, 86% of companies that have reported earnings so far, have topped consensus, with profits growing by 20.1%, FactSet data showed.

Netflix kicked off earnings for blue-chip tech stocks after the bell Monday, with weaker-than-expected second-quarter results. Microsoft (NASDAQ:MSFT) will report earnings on Thursday after market close.

Tech started the week on the back foot, ending the day mostly unchanged despite a rally in shares of Amazon to a record high.

Amazon.com (NASDAQ:AMZN) stock closed 0.52% higher as the tech giant got its 'Prime Day' sale underway, a 36-hour event which traditionally bolsters sales as customers flock online to scoop up discounts.

In economic news, core retail sales rose 0.4% last month, compared with an upwardly-revised 1.4% increase for May. The Empire State manufacturing index fell 2.4 points in July to a reading of 22.6.

The data came a day ahead of Federal Reserve Chairman Jerome Powell's testimony on the economy and monetary policy before the U.S. Senate Banking Committee on Tuesday at 10 AM ET (14:00 GMT) in Washington, followed by the House Financial Services Committee the next day.

On the political front, a summit between US President Trump and Russian leader Putin drew little market reaction as focus was mostly centered on Russian meddling in the U.S. election.

"The Russian state has never interfered, and is not going to interfere into internal American affairs, including the election process," Putin said.

Top Gainers and Losers on Wall Street Today:

The top Dow gainers for the session: JPMorgan Chase NYSE:JPM) gained roughly 4%, Goldman Sachs (NYSE:GS) rose 2% and Cisco Systems (NASDAQ:CSCO) up 1.7%.

Caterpillar (NYSE:CAT) down about 1.9%, Exxon Mobil (NYSE:XOM) off 1% and Johnson & Johnson (NYSE:JNJ) down 1%, were among the worst Dow performers of the session.

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Crude Oil Prices Settle 4% Lower as Traders Cut Supply Shortage Bets

July 16, 2018, 06:35

Investing.com – WTI crude oil prices settled sharply lower Monday, pressured by expectations for an increase in supplies after U.S. Treasury Secretary Steve Mnuchin said some crude importers may receive waivers to continue buying supplies from Iran.

On the New York Mercantile Exchange crude futures for August delivery fell 4.2% to settle at $68.06 a barrel, while on London's Intercontinental Exchange, Brent fell 4.5% to trade at $71.92 a barrel.

"We want people to reduce oil purchases to zero, but in certain cases if people can't do that overnight, we'll consider exceptions," Mnuchin told reporters on Friday, Reuters reported. The comments were not released until Monday morning.

This somewhat softer outlook on restrictions of Iranian crude oil buyers comes as U.S. President Donald Trump has repeatedly called on OPEC to address the sharp uptick in oil prices, which rose earlier this month, to levels not seen since November 2016.

With the drop in Iranian crude supplies likely to be less than many had anticipated, investors have lowered expectations for a shortage in global crude supplies.

Expectations of increased crude supplies were heightened as Libyan ports reopened, while Iraq output reportedly soared in the first half of the July .

Iraq crude exports jumped 6% to 4.05 million barrels a day (bpd) in the first half of July from 3.839 million bpd for the entire month of June, according to tanker tracking and data from port agents compiled by Bloomberg.

The slump in oil prices comes as oil market observers were monitoring potential comments on oil markets at the meeting between President Donald Trump and Russian President Vladimir Putin on Monday.

Putin hinted that the U.S. and Russia could work together in a constructive way to regulate the international energy markets as an extreme drop in prices was not in Russia's interest.

That, however, did little to stem the plunge in oil prices, as attention shifted toward weekly U.S. petroleum inventory data from the American Petroleum Institute on Tuesday, and from the Energy Information Administration on Wednesday.

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Stocks - Energy Stocks Fall as Oil Prices Sink Below $70

July 16, 2018, 06:12

Investing.com - Energy stocks were the biggest drag on the U.S. market Monday as oil prices tumbled on expectations Iran supply disruptions may be averted.

Crude oil futures fell about 4.5% as of 2:00 PM ET (18:00 GMT) and were near the lows of the day. ExxonMobil (NYSE:XOM) stock dropped about 1.2%, Chevron (NYSE:CVX) stock was down about 1.3%, ConocoPhillips (NYSE:COP) stock lost about 2.2% and Hess (NYSE:HES) stock lost more than 4%.

Treasury Secretary Steve Mnuchin said Friday in remarks embargoed for today that the U.S. would consider exceptions in placing punitive measure on countries that purchased oil from Iran.

“We want people to reduce oil purchases to zero, but in certain cases if people can’t do that overnight, we’ll consider exceptions,” Mnuchin told reporters on Friday, Reuters reported.

The S&P Energy Sector was down about 1.4% in afternoon trading.

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Metals Prices Mixed Amid Soft China Data

July 16, 2018, 05:54

Investing.com – Gold prices remained below breakeven Monday amid expectations that higher U.S. interest rates would continue to support an uptick in the dollar, weighing on demand for yellow metal, while soft Chinese left other metals mixed.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $1.30 or 0.10%, to $1,240.00 a troy ounce, after trading as high as $1,245.70 intraday.

Forays higher in gold prices intraday were met with selling pressure, despite a subdued start to the week for the greenback, as traders awaited further clues on monetary policy action from Federal Reserve Chairman Jerome Powell.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.17% to 94.28, down from a session high of 94.53.

Powell is expected to testify on the economy and monetary policy before the U.S. Senate Banking Committee on Tuesday at 10:00 AM ET (14:00 GMT) in Washington, followed by the House Financial Services Committee the next day.

Ahead of Powell's appearance, the Fed gave a positive assessment of the U.S. economy, insisting that strong labor markets and inflation would support the central bank's plan to continue with gradual rate hikes.

Gold is sensitive to moves higher in both bond yields and the U.S. dollar. A stronger dollar makes gold more expensive for holders of foreign currency, while a rise in U.S. rates lift the opportunity cost of holding gold as it pays no interest.

Weaker-than-expected fixed-asset investment and industrial production from China riased fears of economic weakness in the world’s largest metals buyer. Renewed focus on the trade tensions between the U.S. and its trading partners also soured sentiment on metals somewhat.

The U.S. filed complaints to the World Trade Organisation (WTO) against China, Canada, EU, Mexico, Turkey in response to retaliatory tariffs.

Copper prices fell 0.31% to $2.77, while zinc prices settled 3.83% lower at 2,482.50.

Aluminium prices rose 1.04% to 2,061.00, while Nickel futures settled nearly 2.11% down at 13,670.00.

Silver futures rose 0.06% to $15.86 a troy ounce, while platinum futures lost 0.52% to $826.00.

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Nigeria stocks lower at close of trade; NSE 30 down 0.24%

July 16, 2018, 05:15

Investing.com – Nigeria stocks were lower after the close on Monday, as losses in the Oil&Gas, Insurance and Banking sectors led shares lower.

At the close in Lagos, the NSE 30 declined 0.24%.

The best performers of the session on the NSE 30 were Uacn Prop (LAGOS:UACN), which rose 5.26% or 0.70 points to trade at 13.80 at the close. Meanwhile, Unilever Nig (LAGOS:UNILEVE) added 0.10% or 0.05 points to end at 51.90 and Nig Brew (LAGOS:NB) was unchanged 0.00% or 0.00 points to 110.00 in late trade.

The worst performers of the session were Wemabank (LAGOS:WEMABAN), which fell 10.00% or 0.070 points to trade at 0.630 at the close. Pz Cussons LG (LAGOS:PZ) declined 10.00% or 1.90 points to end at 17.10 and Wapco (LAGOS:WAPCO) was down 9.33% or 3.50 points to 34.00.

Falling stocks outnumbered advancing ones on the Lagos by 71 to 15 and 19 ended unchanged.

Shares in Pz Cussons LG (LAGOS:PZ) fell to 52-week lows; down 10.00% or 1.90 to 17.10.

Crude oil for September delivery was down 4.26% or 2.98 to $66.97 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.46% or 3.36 to hit $71.97 a barrel, while the August Gold Futures contract fell 0.17% or 2.10 to trade at $1239.10 a troy ounce.

EUR/NGN was up 0.57% to 357.670, while USD/NGN rose 0.28% to 361.500.

The US Dollar Index Futures was down 0.15% at 94.30.

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Morocco stocks lower at close of trade; Moroccan All Shares down 0.02%

July 16, 2018, 05:05

Investing.com – Morocco stocks were lower after the close on Monday, as losses in the Hotels, Restaurants&Leisure, Forestry&Paper and Mining sectors led shares lower.

At the close in Casablanca, the Moroccan All Shares lost 0.02% to hit a new 52-week low.

The best performers of the session on the Moroccan All Shares were Sonasid (CS:SOND), which rose 4.56% or 23 points to trade at 536 at the close. Meanwhile, Cosumar (CS:CSMR) added 3.47% or 6 points to end at 176 and Stokvis Nord Afrique (CS:SNA) was up 2.59% or 0.44 points to 17.44 in late trade.

The worst performers of the session were SMI (CS:SMI), which fell 5.99% or 164 points to trade at 2572 at the close. Risma (CS:RIS) declined 2.60% or 4.50 points to end at 168.50 and Micro Data SA (CS:MIC) was down 2.40% or 7.00 points to 285.00.

Falling stocks outnumbered advancing ones on the Casablanca Stock Exchange by 16 to 15 and 3 ended unchanged.

Shares in SMI (CS:SMI) fell to 52-week lows; down 5.99% or 164 to 2572.

Crude oil for September delivery was down 3.90% or 2.73 to $67.22 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.13% or 3.11 to hit $72.22 a barrel, while the August Gold Futures contract fell 0.19% or 2.30 to trade at $1238.90 a troy ounce.

EUR/MAD was up 0.06% to 11.0690, while USD/MAD fell 0.07% to 9.4581.

The US Dollar Index Futures was down 0.14% at 94.31.

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Dollar Subdued Amid Mostly Positive U.S. Data; Powell Testimony Eyed

July 16, 2018, 04:55

Investing.com – The dollar was slightly lower against its rivals Monday, as in-line U.S. retail sales data, and slightly better than forecast regional manufacturing activity provided little impetus for upside in the greenback.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.14% to 94.31, down from a session high of 94.53.

The Commerce Department said on Monday that core retail sales rose 0.4% last month, compared with an upwardly revised 1.4% increase for May. The retail sales control group – which has a larger impact on U.S. GDP – came in at 0.0% missing expectations for a 0.4% rise.

The Empire State manufacturing index fell 2.4 points in July to a reading of 22.60, the New York Federal Reserve said Monday.

The dollar was also kept on the back foot by an uptick in safe-currencies like the yen and Swiss Franc amid fresh trade concerns after the U.S. filed complaints to the World Trade Organisation (WTO) against China, Canada, EU, Mexico and Turkey in response to retaliatory tariffs.

USD/JPY fell 0.07% to Y112.30, while USD/CHF fell 0.42% to 0.9975.

The subdued start to the week for the greenback comes as traders awaited further clues on monetary policy as Fed chairman Jerome Powell is expected to testify on the economy and monetary policy before the U.S. Senate Banking Committee on Tuesday.

Ahead of Powell's appearance, the Fed gave a positive assessment of the U.S. economy, insisting that strong labor markets and inflation would support the central bank's plan to continue with gradual rate hikes.

GBP/USD fell 0.02% to $1.3232, ahead of slew of data this week which could determine the prospect of an August Bank of England rate hike as average wage data is expected Tuesday, while inflation figures and retail sales are due later in the week.

EUR/USD rose 0.21% to $1.1711, while USD/CAD fell 0.24% to C$1.3131.

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Portugal stocks higher at close of trade; PSI 20 up 0.02%

July 16, 2018, 04:45

Investing.com – Portugal stocks were higher after the close on Monday, as gains in the Utilities, Consumer Services and Financials sectors led shares higher.

At the close in Lisbon, the PSI 20 gained 0.02%.

The best performers of the session on the PSI 20 were Sonae Capital (LS:SONAC), which rose 1.19% or 0.0110 points to trade at 0.9340 at the close. Meanwhile, Sonae (LS:YSO) added 1.18% or 0.0120 points to end at 1.0300 and Mota Engil (LS:MOTA) was up 1.17% or 0.0350 points to 3.0300 in late trade.

The worst performers of the session were Nos SGPS SA (LS:NOS), which fell 1.06% or 0.0520 points to trade at 4.8500 at the close. Semapa (LS:SEM) declined 0.88% or 0.2000 points to end at 22.6500 and Ibersol SGPS (LS:IBS) was down 0.82% or 0.100 points to 12.100.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 17 to 14 and 8 ended unchanged.

Brent oil for September delivery was down 4.21% or 3.17 to $72.16 a barrel. Elsewhere in commodities trading, Crude oil for delivery in September fell 3.95% or 2.76 to hit $67.19 a barrel, while the August Gold Futures contract fell 0.19% or 2.40 to trade at $1238.80 a troy ounce.

EUR/USD was up 0.12% to 1.1700, while EUR/GBP rose 0.19% to 0.8846.

The US Dollar Index Futures was down 0.11% at 94.34.

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Russia stocks lower at close of trade; MOEX Russia down 0.52%

July 16, 2018, 04:35

Investing.com – Russia stocks were lower after the close on Monday, as losses in the Mining, Power and Oil&Gas sectors led shares lower.

At the close in Moscow, the MOEX Russia declined 0.52%.

The best performers of the session on the MOEX Russia were MegaFon OAO (MCX:MFON), which rose 15.95% or 80.40 points to trade at 584.40 at the close. Meanwhile, NPK OVK PAO (MCX:UWGN) added 5.16% or 29.5 points to end at 601.5 and Rosseti ao (MCX:RSTI) was up 3.07% or 0.0237 points to 0.7958 in late trade.

The worst performers of the session were MMC Norilsk Nickel (MCX:GMKN), which fell 6.30% or 718.0 points to trade at 10680.0 at the close. Yandex NV (MCX:YNDX) declined 2.38% or 57.00 points to end at 2333.00 and SG mechel (MCX:MTLR) was down 1.69% or 1.75 points to 101.75.

Rising stocks outnumbered declining ones on the Moscow Stock Exchange by 114 to 95 and 23 ended unchanged.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was up 1.63% to 22.510.

Gold Futures for August delivery was down 0.21% or 2.60 to $1238.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 3.95% or 2.76 to hit $67.19 a barrel, while the September Brent oil contract fell 4.21% or 3.17 to trade at $72.16 a barrel.

USD/RUB was down 0.37% to 62.3244, while EUR/RUB fell 0.23% to 72.9075.

The US Dollar Index Futures was down 0.08% at 94.36.

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Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.22%

July 16, 2018, 04:35

Investing.com – Denmark stocks were lower after the close on Monday, as losses in the Industrials, Real Estate and Financials sectors led shares lower.

At the close in Copenhagen, the OMX Copenhagen 20 declined 0.22%.

The best performers of the session on the OMX Copenhagen 20 were GN Store Nord (CO:GN), which rose 1.18% or 3.4 points to trade at 292.1 at the close. Meanwhile, Nordea Bank AB (CO:NDA) added 1.00% or 0.62 points to end at 62.76 and Pandora A/S (CO:PNDORA) was up 0.46% or 2.0 points to 441.0 in late trade.

The worst performers of the session were AP Moeller - Maersk A/S B (CO:MAERSKb), which fell 2.39% or 192 points to trade at 7836 at the close. AP Moeller - Maersk A/S A (CO:MAERSKa) declined 2.09% or 160 points to end at 7480 and DSV (CO:DSV) was down 1.21% or 6.2 points to 507.0.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 63 to 55 and 20 ended unchanged.

Crude oil for September delivery was down 4.02% or 2.81 to $67.14 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 4.34% or 3.27 to hit $72.06 a barrel, while the August Gold Futures contract fell 0.20% or 2.50 to trade at $1238.70 a troy ounce.

USD/DKK was down 0.11% to 6.3722, while EUR/DKK fell 0.03% to 7.4525.

The US Dollar Index Futures was down 0.06% at 94.38.

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Spain stocks lower at close of trade; IBEX 35 down 0.18%

July 16, 2018, 04:35

Investing.com – Spain stocks were lower after the close on Monday, as losses in the Consumer Services, Chemical, Petroleum&Plastic and Consumer Goods sectors led shares lower.

At the close in Madrid, the IBEX 35 declined 0.18%.

The best performers of the session on the IBEX 35 were Cellnex Telecom SA (MC:CLNX), which rose 0.89% or 0.20 points to trade at 22.60 at the close. Meanwhile, Siemens Gamesa Renewable Energy SA (MC:GAM) added 0.88% or 0.100 points to end at 11.405 and Acciona (MC:ANA) was up 0.87% or 0.600 points to 69.200 in late trade.

The worst performers of the session were Distribuidora Intl de Aliment (MC:DIDA), which fell 2.46% or 0.054 points to trade at 2.141 at the close. Aena SME SA (MC:AENA) declined 1.61% or 2.55 points to end at 155.35 and ArcelorMittal SA (MC:MTS) was down 1.34% or 0.340 points to 25.120.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 97 to 79 and 25 ended unchanged.

Shares in Distribuidora Intl de Aliment (MC:DIDA) fell to all time lows; down 2.46% or 0.054 to 2.141.

Gold Futures for August delivery was down 0.21% or 2.60 to $1238.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 4.02% or 2.81 to hit $67.14 a barrel, while the September Brent oil contract fell 4.33% or 3.26 to trade at $72.07 a barrel.

EUR/USD was up 0.09% to 1.1696, while EUR/GBP rose 0.20% to 0.8847.

The US Dollar Index Futures was down 0.07% at 94.37.

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