August 23, 2017, 09:30

The Day Ahead: Top 3 things to watch

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

Markets gear up for action in Jackson Hole

The annual central banking symposium gets underway on Thursday, as central bankers, finance ministers and academics meet in Jackson Hole, Wyoming.

The main event, however, comes a day later on Friday, as traders looked ahead to speeches by both European Central Bank president Mario Draghi and Federal Reserve chair Janet Yellen.

Draghi, however, is expected to offer little in the way of insight into the central bank’s thinking on future monetary policy to avert a bullish reaction in the euro.

EUR/USD struggled to hold onto gains on Wednesday, easing from highs to trade flat at $1.1808.

US macro data on tap

Market participants look ahead to the release of a duo of economic reports on Thursday, which may offer further guidance on the strength of U.S. economy and fresh direction for the dollar against its rivals.

Existing Home Sales is expected to rise 0.9% in July to 5.57m while economists’ forecast a 6,000 increase to 238,000 in the number of individuals who filed for unemployment insurance for the week ended Aug 19.

Gold on $1,300 watch list

Despite trading in a narrow range so far this week, gold futures continued to edge towards the key $1,300 level amid continued US political uncertainty and a fall in investor expectations of a third rate hike later this year, following the Federal reserve’s July meeting minutes released last week.

According to investing.com’s fed rate monitor tool just 32% of traders expect the Federal Reserve to hike rates in June, compared to nearly 50% traders in the previous week.

The minutes showed Fed members were divided on the outlook of monetary policy tightening and suggested that the central bank could afford to wait on further rate hikes until the trend of slow inflation appeared transitory.

August 23, 2017, 09:25

Peru stocks lower at close of trade; S&P Lima General down 0.31%

Investing.com – Peru stocks were lower after the close on Wednesday, as losses in the S&P Lima Juniors, Food&Beverages and Banking&Financials sectors led shares lower.

At the close in Lima, the S&P Lima General declined 0.31%.

The best performers of the session on the S&P Lima General were Volcan Compania Minera SAA (LM:VOLa), which rose 5.56% or 0.100 points to trade at 1.900 at the close. Meanwhile, Minera Irl (LM:IRL) unchanged 2.86% or 0.00 points to end at 0.07 and Bco Continenta (LM:CON) was up 2.50% or 0.100 points to 4.100 in late trade.

The worst performers of the session were Candente Copper (LM:DNT), which fell 10.00% or 0.0080 points to trade at 0.0720 at the close. Volcan Minera (LM:VOL_pb) declined 3.30% or 0.030 points to end at 0.880 and Atacocha (LM:ATB) was down 2.90% or 0.011 points to 0.369.

Falling stocks outnumbered advancing ones on the Lima Stock Exchange by 19 to 11 and 12 ended unchanged.

Crude oil for October delivery was up 1.15% or 0.55 to $48.38 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.08% or 0.04 to hit $52.49 a barrel, while the December Gold Futures contract rose 0.38% or 4.91 to trade at $1295.91 a troy ounce.

USD/PEN was unchanged 0.00% to 3.2376, while EUR/PEN unchanged 0.00% to 3.8215.

The US Dollar Index Futures was down 0.30% at 93.14.

August 23, 2017, 08:35

Dow rally hits a wall after Trump threatens government shutdown

Investing.com – U.S. stocks closed lower on Wednesday, as political jitters returned to Washington in the wake of President Trump’s threat to shut down the government in order to secure funds for a proposed U.S.-Mexico border wall.

The Dow Jones Industrial Average closed lower at 21,812. The S&P 500 closed 0.35% lower while the Nasdaq Composite closed at 6278.41, down 0.30%.

Wall Street once again found itself victim of turmoil in Washington amid fears that President Trump’s economic agenda, which includes tax reform, could be further delayed, after the president threatened to shut down the government if his border wall wasn't funded.

At a rally in Arizona Tuesday night, Trump said: "If we have to close down our government, we're building that wall."

Investor fears over delays to the Trump’s administration economic agenda come a day after a report on Tuesday suggested that the Trump administration and key lawmakers had found common ground on how to approach tax reform.

Investor focus, however, is expected to shift to monetary policy on Thursday as a two-day central banking symposium gets underway in Jackson Hole. Speeches by European Central Bank president Mario Draghi and Janet Yellen are expected to be closely monitored for clues about future monetary policy.

Meanwhile on the corporate earnings front, investors cheered better-than-expected earnings from HP after US markets closed on Wednesday. The computer and printer manufacturer’s net income, however, fell 13% compared to same period a year ago. Shares of HP Inc (NYSE:HPQ) fell more than 3% in after hours trade.

'Bulls and Bears' on Wall Street

The top Dow gainers for the session: United Technologies Corporation (NYSE:UTX) up 1.2%, International Business Machines (NYSE:IBM) up 0.8% and Pfizer Inc (NYSE:PFE) up 0.3%

Johnson & Johnson (NYSE:JNJ) down 1.4%, Walt Disney Company (NYSE:DIS) down 1.2% and Cisco Systems Inc (NASDAQ:CSCO) down 1.1%, were among the worst Dow performers of the session.

August 23, 2017, 08:33

PVH shares climb as Calvin Klein parent tops analysts' Q2 expectations

Investing.com - PVH Corp (NYSE:PVH) released its latest quarterly results after closing bell, and the apparel company and parent of Calvin Klein and Tommy Hilfiger surpassed analysts expectations.

Second quarter adjusted EPS Came in at $1.69 compared to guidance of $1.60 to $1.63. The reading also topped the consensus analyst forecast for $1.64. Revenue increased 7.3% year-over-year to $2.07 billion and beat analysts expectations by $30 million.

The company raised its GAAP full-year EPS forecast to the range of $6.44 to $6.54 from $6.24 to $6.34 previously and its non-GAAP full year EPS to $7.60 to $7.70 from $7.40 to $7.50 previously. Analysts estimate full year EPS of $7.54 (comparable to non-GAAP).

PVH's shares were indicated up 3% in after hours trade.

August 23, 2017, 08:25

U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.40%

Investing.com – U.S. stocks were lower after the close on Wednesday, as losses in the Consumer Services, Healthcare and Industrials sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average lost 0.40%, while the S&P 500 index declined 0.35%, and the NASDAQ Composite index declined 0.30%.

The best performers of the session on the Dow Jones Industrial Average were United Technologies Corporation (NYSE:UTX), which rose 1.16% or 1.34 points to trade at 117.03 at the close. Meanwhile, International Business Machines (NYSE:IBM) added 0.80% or 1.13 points to end at 142.14 and Pfizer Inc (NYSE:PFE) was up 0.27% or 0.09 points to 33.24 in late trade.

The worst performers of the session were Johnson&Johnson (NYSE:JNJ), which fell 1.41% or 1.90 points to trade at 132.80 at the close. Walt Disney Company (NYSE:DIS) declined 1.24% or 1.27 points to end at 101.50 and Cisco Systems Inc (NASDAQ:CSCO) was down 1.12% or 0.35 points to 30.92.

The top performers on the S&P 500 were Foot Locker Inc (NYSE:FL) which rose 6.24% to 35.25, Xilinx Inc (NASDAQ:XLNX) which was up 4.35% to settle at 64.01 and Simon Property Group Inc (NYSE:SPG) which gained 2.83% to close at 157.57.

The worst performers were Omnicom Group Inc (NYSE:OMC) which was down 7.00% to 72.66 in late trade, Interpublic Group of Companies Inc (NYSE:IPG) which lost 6.32% to settle at 19.58 and Coty Inc (NYSE:COTY) which was down 5.48% to 16.74 at the close.

The top performers on the NASDAQ Composite were Immune Pharmaceuticals Inc (NASDAQ:IMNP) which rose 83.33% to 2.2000, Intracellular Th (NASDAQ:ITCI) which was up 27.68% to settle at 14.39 and Paratek Pharmaceuticals Inc (NASDAQ:PRTK) which gained 27.30% to close at 24.25.

The worst performers were Precipio Inc (NASDAQ:PRPO) which was down 46.76% to 2.3800 in late trade, Diana Containerships Inc (NASDAQ:DCIX) which lost 40.28% to settle at 0.2600 and root9B Holdings Inc (NASDAQ:RTNB) which was down 30.33% to 2.0900 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1632 to 1443 and 150 ended unchanged; on the Nasdaq Stock Exchange, 1385 fell and 1060 advanced, while 185 ended unchanged.

Shares in Omnicom Group Inc (NYSE:OMC) fell to 52-week lows; falling 7.00% or 5.47 to 72.66. Shares in Interpublic Group of Companies Inc (NYSE:IPG) fell to 52-week lows; falling 6.32% or 1.32 to 19.58. Shares in Coty Inc (NYSE:COTY) fell to 52-week lows; losing 5.48% or 0.97 to 16.74. Shares in Precipio Inc (NASDAQ:PRPO) fell to 52-week lows; falling 46.76% or 2.0900 to 2.3800. Shares in Diana Containerships Inc (NASDAQ:DCIX) fell to all time lows; falling 40.28% or 0.1754 to 0.2600.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 7.14% to 12.16.

Gold Futures for December delivery was up 0.35% or 4.51 to $1295.51 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 1.15% or 0.55 to hit $48.38 a barrel, while the October Brent oil contract rose 1.31% or 0.68 to trade at $52.55 a barrel.

EUR/USD was up 0.45% to 1.1814, while USD/JPY fell 0.56% to 108.96.

The US Dollar Index Futures was down 0.35% at 93.09.

August 23, 2017, 08:15

Colombia stocks lower at close of trade; COLCAP down 0.46%

Investing.com – Colombia stocks were lower after the close on Wednesday, as losses in the Investment, Public Services and Industrials sectors led shares lower.

At the close in Colombia, the COLCAP fell 0.46%.

The best performers of the session on the COLCAP were Canacol Energy Ltd (CN:CNE), which rose 1.97% or 190.0 points to trade at 9850.0 at the close. Meanwhile, Bcolombia (CN:BIC) added 0.77% or 240.0 points to end at 31500.0 and Bancolombia Pf (CN:BIC_p1) was up 0.60% or 200.0 points to 33260.0 in late trade.

The worst performers of the session were Corporacion Financiera Colombiana SA (CN:CFV), which fell 2.46% or 700.0 points to trade at 27700.0 at the close. Banco De Bogota SA (CN:BBO) declined 1.00% or 680.0 points to end at 67520.0 and Conconcret (CN:CIC) was down 0.97% or 10.0 points to 1025.0.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 25 to 6 and 2 ended unchanged.

US coffee C for December delivery was down 0.37% or 0.48 to $128.82 . Elsewhere in commodities trading, US cocoa for delivery in December fell 0.32% or 6.00 to hit $1867.00 , while the December Gold Futures contract rose 0.35% or 4.55 to trade at $1295.55 a troy ounce.

USD/COP was down 0.07% to 2983.19, while BRL/COP rose 0.67% to 950.27.

The US Dollar Index Futures was down 0.36% at 93.08.

August 23, 2017, 07:54

American Eagle adds 8% following earnings beat

Investing.com - American Eagle Outfitters Inc (NYSE:AEO) shares popped on Wednesday following the company’s premarket quarterly earnings release, which showed the company has earnings and revenue that topped estimates.

American Eagle Outfitter had net income of $21.2 million, or $0.12 per share, down from $41.6 million, or $0.23 per share year-over-year. Adjusted EPS was $0.19, above the analyst forecast for $0.16.

Revenue was $844.6 million, above the $824.0 million analyst consensus forecast. Same-store sales rose 2%, ahead of the forecast for a 0.4% decline.

American Eagle is looking for third-quarter same-store sales in the range of flat to up low single digits and EPS of $0.36 to $0.38 cents. Analysts expect a same-store sales increase of 0.8% and EPS of $0.38.

American Eagle's shares added 7.8% to their value on Wednesday.

August 23, 2017, 07:48

Bitcoin eases from highs; Bitcoin Cash struggles to pare losses

Investing.com – Bitcoin traded higher on Wednesday adding to gains from the previous session as the cryptocurrency resumed its rally, following a dip to a nearly two-week low earlier this week.

On the U.S.-based Bitfinex exchange, bitcoin rose to $4,136.8, up $69.1 or 1.70%, but remained a few hundred dollars shy of its most recent record high of $4,489.1. At current prices bitcoin has a market cap of about $69 billion.

The rise in Bitcoin comes a day after it fell to a nearly two-week low of $3,600, before pairing gains, amid fears that the cryptocurrency was set for a period of consolidation.

Despite its recent slump from all-time highs, Bitcoin remains one of the top performing assets over the year, boasting gains of about 400%, buoyed by growing demand from Asia.

Earlier this year, the Japanese government fully legalized Bitcoin as an official currency, expanding the digital currency reach to a wider range of users, as major retailers backed the new law.

Meanwhile, Bitcoin Cash fell 1.14% to $667, after rallying to an all-time high of $935.50 on Saturday while Ethereum, added 1.15% to $317.60.

To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/

August 23, 2017, 07:30

PetMed responds to “false and defamatory” report, shares trim losses

Investing.com - PetMed Express Inc (NASDAQ:PETS) has called the report by Aurelius Value that stoked a big sell-off in PetMed's stock today “false and defamatory”.

Aurelius Value released a report, claiming that PetMed’s bullish results the past two-quarters were a result of the company promoting its opioids to humans, not pets. This sent shares on a tailspin Wednesday. They fell up to 14% on eleven times the regular trading volume.

n response, PetMed issued a press release stating: “ We believe that this “report” was intended to severely manipulate our stock price downward in support of short sellers. PetMed Express, Inc. categorically denies the allegations and its implications. We are in the process of reporting this manipulation to the appropriate regulators. While the Company dispenses Tramadol and Gabapentin, which represent less than 1% of annual revenue, it is done exclusively pursuant to valid prescriptions from veterinarians for the treatment of animals only.”

The company said it would "vigorously" defend itself against the false allegation, and it is reviewing all legal options.

PetMed shares trimmed their losses following the company’s response. Shares were down 9% in the final stretch to the closing bell.

August 23, 2017, 07:12

Intracellular Therapies shares soar on positive FDA feedback

Investing.com - Shares of Intracellular Therapies (NASDAQ:ITCI) rallied on Wednesday after the biopharmaceutical company received positive feedback from the U.S. Food and Drug Administration (FDA) for lumateperone, its experimental drug for schizophrenia.

Intracellular's shares were up 27% in afternoon trade with 6.69 million shares changing hands, well above the 30-day average of about 259,000 shares per day.

Intra-Cellular said it now expects to submit a marketing application for the drug by mid-2018.

August 23, 2017, 06:38

Competition pressures airline stocks

Investing.com - Airline stocks were experiencing a sell-off on Wednesday, with Delta Air Lines Inc (NYSE:DAL), American Airlines Group, United Continental, Alaska Air Group, Southwest Airlines and JetBlue all seeing their share values down, most of them in the 2-3% range.

According to Seeking Alpha, news out today that could have driven the move lower was that Iceland-based budget airline WOW Air will start service from four Midwest cities: Detroit, St. Louis, Cincinnati, and Cleveland.

August 23, 2017, 06:09

Gold trades in narrow range ahead of Jackson Hole

Investing.com – Gold prices rose on Wednesday, as U.S. political uncertainty resurfaced, after President Donald Trump threatened to ‘close down’ the government, sparking fresh fears that continued political uncertainty in Washington could further delay the introduction of tax-reform.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose $4.04, or 0.31%, to $1,295.33 a troy ounce.

Gold’s path to $1,300 was made easier somewhat as investors fretted the possibility of further turmoil in Washington, following President Trump’s threat to shut down the government if he does not get funding for a wall on the U.S.-Mexico border.

"If we have to close down our government, we're building that wall," President Trump said. "We're going to have our wall. The American people voted for immigration control. We're going to get that wall."

Traders, however, remained cautious of initiating large positions in the precious metal ahead of speeches by European Central Bank president Mario Draghi and Federal Reserve chair Janet Yellen at a two-day central banking symposium in Jackson Hole, Wyoming, which gets underway on Thursday.

Ahead of the central banking symposium analysts have scaled back expectations of further monetary policy tightening.

“Yes the Fed may hike in December and yes the ECB may announce a further taper for 2018 in October but recent events (softer inflation, softer market sentiment and the strong Euro for the ECB) may mean that now might not be the time they choose to guide markets towards such an outcome”. Analysts at Deutsche Bank (DE:DBKGn) said.

In other precious metal trade, silver futures rose 0.37% to $17.05 an ounce while platinum futures lost 0.10% to $980.35 an ounce.

Copper traded at $2.98, down 0.13%, while natural gas futures fell by 0.48% to $2.93.

August 23, 2017, 05:21

Dollar down as Trump threatens to 'close government'

Investing.com – The dollar fell against a basket of global currencies on Wednesday amid renewed political uncertainty in Washington, following President Donald Trump’s threat of a government shutdown.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell by 0.29% to 93.15.

A day after it appeared the Trump administration’s economic agenda was back on track, the dollar fell to session lows, as traders mulled over President Trump’s threats to shut down the government if he does not get funding for a wall on the U.S.-Mexico border.

"If we have to close down our government, we're building that wall," President Trump said. "We're going to have our wall. The American people voted for immigration control. We're going to get that wall."

Trump’s threat of a government shutdown, stoked U.S. political uncertainty, prompting an uptick in demand for safe-haven currencies like the yen and Swiss Franc.

USD/JPY fell 0.30% to Y108.86 while USD/CHF fell 0.9624.

The rise in safe-haven demand comes ahead of speeches by European Central Bank president Mario Draghi and Federal Reserve chair Janet Yellen at a two-day symposium of global central bankers in Jackson Hole, Wyoming, which gets underway on Thursday.

Draghi, however, is expected to remain tightlipped on future monetary policy action to avert a bullish reaction in the euro amid the central bank concerns over the sharp rise in the single currency.

Also weighing on sentiment on the greenback was a rise in the euro, following a pair of Eurozone economic reports on manufacturing and services that topped expectations.

EUR/USD rose 0.41% to $1.1809 while EUR/GBP rose 0.61%.

GBP/USD fell 0.20% to $1.2797 while USD/CAD traded roughly flat at C$1.2555.

August 23, 2017, 05:15

Nigeria stocks higher at close of trade; NSE 30 up 0.30%

Investing.com – Nigeria stocks were higher after the close on Wednesday, as gains in the Banking, Food, Beverages&Tobacco and Oil&Gas sectors led shares higher.

At the close in Lagos, the NSE 30 gained 0.30%.

The best performers of the session on the NSE 30 were Union Bank LG (LAGOS:UBN), which rose 4.90% or 0.28 points to trade at 5.99 at the close. Meanwhile, Access Bank (LAGOS:ACCESS) added 3.96% or 0.39 points to end at 10.25 and Stanbicibtc Hl (LAGOS:IBTC) was up 2.24% or 0.85 points to 38.90 in late trade.

The worst performers of the session were Skye Bank (LAGOS:SKYEBAN), which fell 7.46% or 0.050 points to trade at 0.620 at the close. Pz Cussons LG (LAGOS:PZ) declined 4.86% or 1.31 points to end at 25.62 and Total Nig (LAGOS:TOTAL) was down 4.81% or 11.51 points to 227.54.

Falling stocks outnumbered advancing ones on the Lagos by 41 to 31 and 13 ended unchanged.

Crude oil for October delivery was up 0.90% or 0.43 to $48.26 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.98% or 0.51 to hit $52.38 a barrel, while the December Gold Futures contract rose 0.19% or 2.45 to trade at $1293.45 a troy ounce.

EUR/NGN was up 0.26% to 425.110, while USD/NGN rose 0.97% to 364.000.

The US Dollar Index Futures was down 0.28% at 93.16.

August 23, 2017, 04:30

Finland stocks lower at close of trade; OMX Helsinki 25 down 0.09%

Investing.com – Finland stocks were lower after the close on Wednesday, as losses in the Consumer Goods, Financials and Oil&Gas sectors led shares lower.

At the close in Helsinki, the OMX Helsinki 25 lost 0.09%.

The best performers of the session on the OMX Helsinki 25 were Outotec Oyj (HE:OTE1V), which rose 1.56% or 0.090 points to trade at 5.865 at the close. Meanwhile, Cargotec Oyj (HE:CGCBV) added 1.06% or 0.55 points to end at 52.25 and Orion Oyj B (HE:ORNBV) was up 1.03% or 0.42 points to 41.24 in late trade.

The worst performers of the session were Huhtamaki Oyj (HE:HUH1V), which fell 1.35% or 0.45 points to trade at 32.93 at the close. Telia Company AB (HE:TELIA1) declined 1.02% or 0.040 points to end at 3.872 and Amer Sports Corporation (HE:AMEAS) was down 0.76% or 0.17 points to 22.32.

Falling stocks outnumbered advancing ones on the Helsinki Stock Exchange by 67 to 65 and 22 ended unchanged.

Brent oil for October delivery was up 1.16% or 0.60 to $52.47 a barrel. Elsewhere in commodities trading, Crude oil for delivery in October rose 1.05% or 0.50 to hit $48.33 a barrel, while the December Gold Futures contract rose 0.19% or 2.41 to trade at $1293.41 a troy ounce.

EUR/USD was up 0.37% to 1.1804, while EUR/GBP rose 0.65% to 0.9232.

The US Dollar Index Futures was down 0.25% at 93.19.

August 23, 2017, 04:35

Russia stocks higher at close of trade; MICEX up 0.57%

Investing.com – Russia stocks were higher after the close on Wednesday, as gains in the Mining, Telecoms and Manufacturing sectors led shares higher.

At the close in Moscow, the MICEX added 0.57%.

The best performers of the session on the MICEX were ANK Bashneft OAO Pref (MCX:BANE_p), which rose 4.47% or 55.0 points to trade at 1285.0 at the close. Meanwhile, Sberbank Rossii PAO (MCX:SBER) added 2.51% or 4.30 points to end at 175.30 and NLMK ao (MCX:NLMK) was up 2.06% or 2.60 points to 128.80 in late trade.

The worst performers of the session were Uralkaliy (MCX:URKA), which fell 3.68% or 5.35 points to trade at 140.15 at the close. AFK Sistema (MCX:AFKS) declined 3.24% or 0.375 points to end at 11.200 and Rosseti ao (MCX:RSTI) was down 2.10% or 0.0206 points to 0.9593.

Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 111 to 106 and 14 ended unchanged.

The Russian VIX, which measures the implied volatility of MICEX options, was down 0.57% to 20.810.

Gold Futures for December delivery was up 0.19% or 2.40 to $1293.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 1.07% or 0.51 to hit $48.34 a barrel, while the October Brent oil contract rose 1.18% or 0.61 to trade at $52.48 a barrel.

USD/RUB was down 0.05% to 59.0585, while EUR/RUB rose 0.28% to 69.7019.

The US Dollar Index Futures was down 0.25% at 93.19.

August 23, 2017, 04:35

Spain stocks lower at close of trade; IBEX 35 down 0.69%

Investing.com – Spain stocks were lower after the close on Wednesday, as losses in the Financial Services&Real Estate, Telecoms&IT and Consumer Services sectors led shares lower.

At the close in Madrid, the IBEX 35 declined 0.69%.

The best performers of the session on the IBEX 35 were Cellnex Telecom SA (MC:CLNX), which rose 2.44% or 0.44 points to trade at 18.46 at the close. Meanwhile, Abertis Infr (MC:ABE) added 0.21% or 0.035 points to end at 16.750 and Grifols SA (MC:GRLS) was up 0.17% or 0.040 points to 23.580 in late trade.

The worst performers of the session were Melia Hotels (MC:MEL), which fell 2.07% or 0.265 points to trade at 12.520 at the close. International Consolidated Airlines Group SA (MC:ICAG) declined 1.38% or 0.093 points to end at 6.638 and Acciona (MC:ANA) was down 1.31% or 0.960 points to 72.480.

Falling stocks outnumbered advancing ones on the Madrid Stock Exchange by 112 to 65 and 18 ended unchanged.

Gold Futures for December delivery was up 0.18% or 2.36 to $1293.36 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 1.07% or 0.51 to hit $48.34 a barrel, while the October Brent oil contract rose 1.16% or 0.60 to trade at $52.47 a barrel.

EUR/USD was up 0.35% to 1.1802, while EUR/GBP rose 0.64% to 0.9231.

The US Dollar Index Futures was down 0.24% at 93.20.

August 23, 2017, 04:35

Netherlands stocks lower at close of trade; AEX down 0.48%

Investing.com – Netherlands stocks were lower after the close on Wednesday, as losses in the Telecoms, Consumer Services and Industrials sectors led shares lower.

At the close in Amsterdam, the AEX declined 0.48%.

The best performers of the session on the AEX were Gemalto (AS:GTO), which rose 1.93% or 0.86 points to trade at 45.50 at the close. Meanwhile, Akzo Nobel (AS:AKZO) added 0.84% or 0.65 points to end at 78.35 and Koninklijke DSM NV (AS:DSMN) was up 0.75% or 0.48 points to 64.71 in late trade.

The worst performers of the session were Koninklijke Boskalis Westminster NV (AS:BOSN), which fell 2.05% or 0.58 points to trade at 27.99 at the close. Altice NV (AS:ATCA) declined 1.58% or 0.30 points to end at 18.71 and Koninklijke Ahold Delhaize NV (AS:AD) was down 1.46% or 0.24 points to 16.55.

Falling stocks outnumbered advancing ones on the Amsterdam Stock Exchange by 80 to 42 and 9 ended unchanged.

The AEX Volatility, which measures the implied volatility of AEX options, was up 0.55% to 13.24.

Crude oil for October delivery was up 1.07% or 0.51 to $48.34 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 1.16% or 0.60 to hit $52.47 a barrel, while the December Gold Futures contract rose 0.19% or 2.47 to trade at $1293.47 a troy ounce.

EUR/USD was up 0.35% to 1.1802, while EUR/GBP rose 0.64% to 0.9231.

The US Dollar Index Futures was down 0.24% at 93.20.

August 23, 2017, 04:10

Poland stocks higher at close of trade; WIG30 up 0.06%

Investing.com – Poland stocks were higher after the close on Wednesday, as gains in the Oil&Gas, Telecoms and Chemicals sectors led shares higher.

At the close in Warsaw, the WIG30 gained 0.06%.

The best performers of the session on the WIG30 were Grupa Lotos SA (WA:LTSP), which rose 4.84% or 2.51 points to trade at 54.40 at the close. Meanwhile, Jastrzebska Spotka Weglowa SA (WA:JSW) added 3.24% or 3.09 points to end at 98.42 and Grupa Azoty SA (WA:ATTP) was up 1.31% or 0.89 points to 68.89 in late trade.

The worst performers of the session were Enea SA (WA:ENAE), which fell 1.51% or 0.24 points to trade at 15.65 at the close. KGHM Polska Miedz SA (WA:KGH) declined 1.35% or 1.67 points to end at 121.78 and CCC SA (WA:CCCP) was down 1.07% or 2.70 points to 248.75.

Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 266 to 228 and 169 ended unchanged.

Shares in Jastrzebska Spotka Weglowa SA (WA:JSW) rose to 3-years highs; rising 3.24% or 3.09 to 98.42.

Crude oil for October delivery was up 1.11% or 0.53 to $48.36 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 1.18% or 0.61 to hit $52.48 a barrel, while the December Gold Futures contract rose 0.14% or 1.75 to trade at $1292.75 a troy ounce.

EUR/PLN was up 0.23% to 4.2837, while USD/PLN fell 0.09% to 3.6303.

The US Dollar Index Futures was down 0.21% at 93.22.

August 23, 2017, 04:05

Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.11%

Investing.com – Sweden stocks were lower after the close on Wednesday, as losses in the Telecoms, Consumer Services and Oil&Gas sectors led shares lower.

At the close in Stockholm, the OMX Stockholm 30 fell 0.11%.

The best performers of the session on the OMX Stockholm 30 were Boliden AB (ST:BOL), which rose 1.74% or 4.70 points to trade at 274.30 at the close. Meanwhile, Atlas Copco AB ser. A (ST:ATCOa) added 1.70% or 5.1 points to end at 305.3 and Atlas Copco AB ser. B (ST:ATCOb) was up 1.43% or 3.9 points to 277.0 in late trade.

The worst performers of the session were ASSA ABLOY AB ser. B (ST:ASSAb), which fell 1.68% or 2.9 points to trade at 169.8 at the close. H&M Hennes&Mauritz AB B (ST:HMb) declined 1.53% or 3.2 points to end at 206.6 and SSAB AB ser. A (ST:SSABa) was down 1.37% or 0.55 points to 39.63.

Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 377 to 321 and 99 ended unchanged.

Crude oil for October delivery was up 1.00% or 0.48 to $48.31 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 1.08% or 0.56 to hit $52.43 a barrel, while the December Gold Futures contract rose 0.17% or 2.23 to trade at $1293.23 a troy ounce.

EUR/SEK was up 0.12% to 9.5317, while USD/SEK fell 0.19% to 8.0786.

The US Dollar Index Futures was down 0.21% at 93.22.

August 23, 2017, 03:16

U.S. stocks unwind some gains as markets digest Trump comments

Investing.com – Wall Street opted for profit-taking on Wednesday as U.S. political developments kept investors on edge after President Donald Trump raised the specter of a government shutdown to fulfill a campaign pledge of building a wall at the U.S.-Mexican border.

At 11:13AM ET (15:13GMT), the Dow Jones fell 66 points, or 0.30%, the S&P 500 gave up 8 points, or 0.34%, while the Nasdaq Composite traded down 23 points, or 0.36%.

While Tuesday’s rally in stocks was attributed to heightened hopes for progress on tax reform, Trump later referred to his vow to build a wall at the border with Mexico and told supporters in Phoenix, "If we have to close down the government, we are building that wall."

Trump also warned that he might terminate the NAFTA trade treaty with Canada and Mexico after first round talks aimed at revamping the trade pact ended with few signs of progress.

On the economic front, data released Wednesday gave mixed readings.

A flash reading from IHS Markit showed that business activity hit a 27-month high in August, thanks to a further expansion service sector activity and despite a sluggish manufacturing sector activity.

On the other hand, new home sales unexpectedly tumbled 9.4% in July, hitting a seven-month low and dampening optimism over the state of the U.S. housing market.

In big moves on earnings, Lowe’s (NYSE:LOW) shares dropped more than 5% after the second largest U.S. home improvement retailer reported disappointing quarterly profit.

To the upside, American Eagle Outfitters (NYSE:AEO) soared nearly 7% after an unexpected jump in comparable sales pushed the clothing retailer’s top and bottom line past forecasts.

Meanwhile, oil recovered from earlier losses on Wednesday after official U.S. crude inventory data was released.

Though the drop in oil stockpiles was slightly less than hoped, gasoline inventories fell almost twice as much as expected, causing a sigh of relief that data from the American Petroleum Institute released on Tuesday missed the mark.

U.S. crude futures gained 0.42% to $48.03 by 11:15AM ET (15:15GMT), while Brent oil traded up 0.58% to $52.17.

August 23, 2017, 03:00

Israel stocks lower at close of trade; TA 35 down 0.80%

Investing.com – Israel stocks were lower after the close on Wednesday, as losses in the Banking, Biomed and Communication sectors led shares lower.

At the close in Tel Aviv, the TA 35 fell 0.80%.

The best performers of the session on the TA 35 were Harel (TA:HARL), which rose 3.86% or 80 points to trade at 2150 at the close. Meanwhile, Frutarom Industries Ltd (TA:FRUT) added 2.98% or 790 points to end at 27270 and Tower Semiconductor Ltd (TA:TSEM) was up 2.11% or 206 points to 9990 in late trade.

The worst performers of the session were Bezeq Israeli Telecommunication Corp Ltd (TA:BEZQ), which fell 3.64% or 19.5 points to trade at 515.5 at the close. Poalim (TA:POLI) declined 2.90% or 73 points to end at 2444 and Israel Corp (TA:ILCO) was down 2.89% or 2060 points to 69100.

Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 267 to 131 and 14 ended unchanged.

Shares in Frutarom Industries Ltd (TA:FRUT) rose to all time highs; up 2.98% or 790 to 27270. Shares in Tower Semiconductor Ltd (TA:TSEM) rose to 5-year highs; gaining 2.11% or 206 to 9990.

Crude oil for October delivery was up 0.42% or 0.20 to $48.03 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.67% or 0.35 to hit $52.22 a barrel, while the December Gold Futures contract rose 0.25% or 3.23 to trade at $1294.23 a troy ounce.

USD/ILS was down 0.13% to 3.6146, while EUR/ILS rose 0.33% to 4.2697.

The US Dollar Index Futures was down 0.30% at 93.14.

August 23, 2017, 02:52

Dollar turns lower after downbeat U.S. data

Investing.com - The dollar turned lower against the other major currencies on Wednesday, after the release of disappointing U.S. housing sector data and as investors remained cautious ahead of this week's Jackson Hole summit.

The greenback weakened after the U.S. Commerce Department said new home sales unexpectedly tumbled in July.

Sentiment on the dollar was already vulnerable after U.S. President Donald Trump said at a rally in Arizona on Tuesday that he would be willing to shut down the government in order to get the funding needed for his proposed wall along the U.S.-Mexico border.

Trump also warned that he might terminate the NAFTA trade treaty with Canada and Mexico after a first round talks aimed at revamping the trade pact ended with few signs of progress.

EUR/USD climbed 0.43% to 1.1811 after data showed that a strong performance from the euro zone manufacturing sector this month offset slower growth in services.

The euro showed little reaction to a speech by European Central Bank President Mario Draghi Wednesday morning in which he defended unconventional monetary policy and said that central banks should continue preparing for new challenges.

The speech came ahead of his appearance at the annual central banking conference in Jackson Hole on Friday. Draghi is not widely expected to deliver any new policy message in his speech despite speculation over how soon the central bank plans to start scaling back its stimulus program.

The yen pushed higher, with USD/JPY dropping 0.42% to 109.11, while USD/CHF slipped 0.19 % to 0.9659.

Elsewhere, GBP/USD fell 0.20% to 1.2797.

The Australian and New Zealand dollars remained weaker, with AUD/USD down 0.21% at 0.7896 and with NZD/USD retreating 0.88% to 0.7214.

Meanwhile, USD/CAD held steady at 1.2566, off session highs of 1.2598.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.28 % at 93.16 by 10:55 a.m. ET (14:55 GMT), off the day's highs of 93.55.

August 23, 2017, 02:35

Oil prices turn higher after U.S. inventory data

Investing.com - Oil prices turned higher on Wednesday, after data from the U.S. Energy Information Administration showed that domestic crude supplies fell less than expected last week, but that gasoline stocks declined far more than forecast.

The U.S. West Texas Intermediate crude September contract was at $47.99 a barrel by 10:35 am ET (14 :35GMT), up 16 cents, or around 0.33%. Prices were at around $47.78 prior to the release of the inventory data.

Elsewhere, Brent oil for October delivery on the ICE Futures Exchange in London tacked on 34 cents, or 0.67%, to $52.19 a barrel.

The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 3.33 million barrels in the week ended August 18.

Market analysts' expected a crude-stock decline of around 3.45 million barrels, while the American Petroleum Institute late Tuesday reported a supply-drop of 3.6 million barrels.

However, the API report also showed a gain of 1.4 million barrels in gasoline stocks, while distillate stocks rose by 2.0 million barrels.

Supplies at Cushing, Oklahoma, the key delivery point for Nymex crude, declined by 503,000 barrels last week, the EIA said.

The EIA report also showed that gasoline inventories dropped by 1.22 million barrels.

For distillate inventories including diesel, the EIA reported an increase of 28,000 barrels.

Oil prices were pressured lower earlier in the day, amid ongoing global supply glut concerns.

Libya's Sharara oil field, the country's largest, gradually restarted on Tuesday after a shutdown earlier this month due to a pipeline blockade. Output from the oilfield recently reached 280,000 barrels per day.

Elsewhere on Nymex, gasoline futures for September climbed 1.11%, to $1.585 a gallon, while September heating oil advanced cents 0.74 % to $1.6047 a gallon.

Natural gas futures for September delivery slid 0.44% to $2.894 per million British thermal units.

August 23, 2017, 02:01

U.S. new home sales unexpectedly tumble 9% in July

Investing.com - U.S. new home sales unexpectedly tumbled in July, causing concern over the health of the real estate market, official data showed on Wednesday.

In a report, the U.S. Commerce Department said new home sales fell by 9.4% to a seasonally adjusted 571,000 units in July from the prior month’s revised reading of 630,000 (initially 610,000).

Analysts had expected a 0.3% increase from the previous month’s initial reading to a total of 612,000 units in July.

After the report, EUR/USD was trading at 1.1805 from around 1.1796 ahead of the release of the data, GBP/USD was at 1.2797 from 1.2794 earlier, while USD/JPY traded at 109.09 compared to 109.18 before the release.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 93.17, compared to 93.25 ahead of the report.

Meanwhile, U.S. stocks were trading lower after the open. The Dow 30 fell 70 points or 0.32%, the S&P 500 lost 7 points, or 0.28%, while the tech-heavy Nasdaq Composite traded down 17 points or 0.27%.

Elsewhere, in the commodities market, gold futures traded at $1,293.90 a troy ounce, compared to $1,292.72 ahead of the data, while U.S. crude oil changed hands at $47.81, compared to $47.77 earlier.

August 23, 2017, 01:27

USD/CAD edges higher as oil prices retreat

Investing.com - The U.S. dollar edged higher against its Canadian counterpart on Wednesday, as lower oil prices dented demand for the commodity-related Canadian currency, although sentiment on the greenback remained fragile following remarks by U.S. President Donald Trump.

USD/CAD hit 1.2598 during early U.S. trade, the session high ; the pair subsequently consolidated at 1.2589, adding 0.21%.

The pair was likely to find support at 1.2522, Tuesday's low and a three-week low and resistance at 1.2693, the high of August 18.

The Canadian dollar was weighed by a drop in oil prices on Wednesday, as concerns over a global supply glut persisted following news of a production increase in Libya.

But sentiment on the greenback remained fragile after President Trump said at a rally in Arizona on Tuesday that he would be willing to shut down the government in order to get the funding needed for his proposed wall along the U.S.-Mexico border.

Trump also warned that he might terminate the NAFTA trade treaty with Canada and Mexico after a first round talks aimed at revamping the trade pact ended with few signs of progress.

Market participants were also looking ahead to this week's annual meeting of top central bankers and economists in Jackson Hole, Wyoming, where the heads of the U.S. and European central banks will be making keynote speeches.

Investors are especially awaiting speeches from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi on Friday, though neither is expected to announce new policy messages.

The loonie was lower against the euro, with EUR/CAD advancing 0.50% to 1.4848.

August 23, 2017, 01:15

Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.14%

Investing.com – Saudi Arabia stocks were higher after the close on Wednesday, as gains in the Media&Publishing, Financial Services and Multi Investment sectors led shares higher.

At the close in Saudi Arabia, the Tadawul All Share added 0.14% to hit a new 1-month high.

The best performers of the session on the Tadawul All Share were Saudi Enaya Cooperative Insurance (SE:8311), which rose 8.16% or 1.56 points to trade at 20.68 at the close. Meanwhile, Al Alamiya Cooperative Insurance (SE:8280) added 3.46% or 1.05 points to end at 31.40 and Amana Cooperative Insurance Co (SE:8310) was up 3.42% or 0.90 points to 27.20 in late trade.

The worst performers of the session were Fawaz Abdulaziz AlHokair Company (SE:4240), which fell 4.09% or 1.75 points to trade at 41.00 at the close. Allianz Saudi Fransi Cooperative Insurance Company (SE:8040) declined 3.19% or 1.25 points to end at 37.95 and Arabia Insurance Cooperative Co (SE:8160) was down 2.69% or 0.44 points to 15.90.

Falling stocks outnumbered advancing ones on the Saudi Arabia Stock Exchange by 98 to 64 and 15 ended unchanged.

Shares in Saudi Enaya Cooperative Insurance (SE:8311) rose to 52-week highs; rising 8.16% or 1.56 to 20.68. Shares in Amana Cooperative Insurance Co (SE:8310) rose to 52-week highs; gaining 3.42% or 0.90 to 27.20.

Crude oil for October delivery was down 0.27% or 0.13 to $47.70 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.15% or 0.08 to hit $51.79 a barrel, while the December Gold Futures contract rose 0.27% or 3.53 to trade at $1294.53 a troy ounce.

EUR/SAR was up 0.25% to 4.4226, while USD/SAR rose 0.00% to 3.7502.

The US Dollar Index Futures was down 0.17% at 93.26.

August 23, 2017, 12:22

U.S. natural gas futures pull further away from $3.00-level

Investing.com - U.S. natural gas futures edged lower for the second straight session on Wednesday, pulling further away from the key $3.00-level as market players looked ahead to weekly data from the U.S. on supplies in storage to gauge demand for the fuel.

U.S. natural gas for September delivery was at $2.916 per million British thermal units by 8:20AM ET (1220GMT), down 2.4 cents, or around 0.8%.

Futures ended lower on Tuesday, after touched their highest level since August 14 at $3.006, as near-term weather forecasts turned cooler.

A weather system with showers and cooling will sweep across the central and east-central U.S. through the end of the week, dropping demand to much lighter levels due to highs only reaching the 70s to lower 80s Fahrenheit.

Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on late-summer cooling demand.

Nearly 50% of all U.S. households use gas for cooling.

Market participants now looked ahead to weekly storage data due on Thursday, which is expected to show a build in a range between 39 and 48 billion cubic feet in the week ended August 18.

That compares with a gain of 53 billion cubic feet in the preceding week, a build of 11 billion a year earlier and a five-year average rise of 53 billion cubic feet.

Total natural gas in storage currently stands at 3.082 trillion cubic feet, according to the U.S. Energy Information Administration, 7.6% lower than levels at this time a year ago but 1.8% above the five-year average for this time of year.

August 23, 2017, 10:46

U.S. stock futures dip as Trump comments keep investors on edge

Investing.com - U.S. stock futures pointed to a lower open on Wednesday morning, as U.S. political developments kept investors on edge after President Donald Trump raised the specter of a government shutdown to fulfill a campaign pledge of building a wall at the U.S.-Mexican border.

At a rally with his supporters in Phoenix late Tuesday, Trump referred to his vow to build a wall at the border with Mexico and said, "If we have to close down the government, we are building that wall."

Trump also warned that he might terminate the NAFTA trade treaty with Canada and Mexico after first round talks aimed at revamping the trade pact ended with few signs of progress.

The blue-chip Dow futures shed 43 points, or about 0.2%, by 6:45AM ET (1045GMT), the S&P 500 futures fell 8 points, or around 0.3%, while the tech-heavy Nasdaq 100 futures declined 18 points, or roughly 0.3%.

U.S. stocks ended sharply higher on Tuesday, with each of the three major indices posting their best one-day gains since April, on renewed hopes of U.S. tax reform.

Meanwhile, market players braced for an annual gathering of central bankers at a meeting in Jackson Hole, Wyoming on Thursday and Friday, where Federal Reserve Chair Janet Yellen and European Central Bank chief Mario Draghi are set to deliver speeches on the outlook for monetary policy and interest rates.

On the data front, the Commerce Department is to publish a report on new home sales for July at 10:00AM ET (1400GMT). Wednesday's calendar also features flash Markit manufacturing and service sector activity surveys.

Among active pre-market movers, Lowe’s (NYSE:LOW) shares dropped more than 5% after the No. 2 U.S. home improvement retailer reported disappointing quarterly profit ahead of the bell.

Besides Lowe's, earnings are also expected from American Eagle Outfitters (NYSE:AEO), Guess (NYSE:GES), HP (NYSE:HPQ) and Williams-Sonoma (NYSE:WSM).

Shares in Salesforce (NYSE:CRM) looked set for a down day, falling around 2% in premarket action, after reporting a quarterly profit that narrowly beat analysts' estimates.

Looking to commodities, oil prices were lower as investors looked ahead to the Energy Department's weekly supply report at 10:30AM ET (1430GMT).

U.S. crude was at $47.70 a barrel, down 13 cents, or around 0.3%, while Brent slipped 25 cents to $51.62.

August 23, 2017, 10:45

India stocks higher at close of trade; Nifty 50 up 0.89%

Investing.com – India stocks were higher after the close on Wednesday, as gains in the Real Estate, Metals and Banking sectors led shares higher.

At the close in NSE, the Nifty 50 rose 0.89%, while the BSE Sensex 30 index climbed 0.88%.

The best performers of the session on the Nifty 50 were Indiabulls Housing Finance Ltd (NS:INBF), which rose 3.86% or 45.40 points to trade at 1221.75 at the close. Meanwhile, Adani Port and Special Economic Zone Ltd (NS:APSE) added 2.49% or 9.35 points to end at 385.00 and Tata Steel Ltd (NS:TISC) was up 2.42% or 15.00 points to 634.60 in late trade.

The worst performers of the session were Tech Mahindra Ltd (NS:TEML), which fell 1.74% or 7.65 points to trade at 430.20 at the close. Tata Power Co. Ltd (NS:TTPW) declined 1.62% or 1.30 points to end at 78.75 and Bharti Infratel Ltd (NS:BHRI) was down 1.30% or 5.05 points to 382.80.

The top performers on the BSE Sensex 30 were Adani Port and Special Economic Zone Ltd (BO:APSE) which rose 2.79% to 384.95, Bharti Airtel Ltd (BO:BRTI) which was up 2.41% to settle at 431.80 and Tata Steel Ltd (BO:TISC) which gained 2.28% to close at 633.40.

The worst performers were Hindustan Unilever Ltd. (BO:HLL) which was down 1.05% to 1188.20 in late trade, Sun Pharmaceutical Industries Ltd. (BO:SUN) which lost 0.45% to settle at 468.75 and ITC Ltd (BO:ITC) which was down 0.28% to 282.25 at the close.

Rising stocks outnumbered declining ones on the India National Stock Exchange by 1038 to 498 and 24 ended unchanged; on the Bombay Stock Exchange, 1562 rose and 932 declined, while 129 ended unchanged.

Shares in Tata Steel Ltd (NS:TISC) rose to 5-year highs; gaining 2.42% or 15.00 to 634.60. Shares in Bharti Airtel Ltd (BO:BRTI) rose to 52-week highs; up 2.41% or 10.15 to 431.80. Shares in Tata Steel Ltd (BO:TISC) rose to 5-year highs; gaining 2.28% or 14.10 to 633.40.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 6.54% to 13.1825.

Gold Futures for December delivery was up 0.10% or 1.35 to $1292.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October fell 0.27% or 0.13 to hit $47.70 a barrel, while the October Brent oil contract fell 0.48% or 0.25 to trade at $51.62 a barrel.

USD/INR was up 0.08% to 64.118, while EUR/INR rose 0.25% to 75.5499.

The US Dollar Index Futures was down 0.09% at 93.34.