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uBanker Blog

  • Taiwan stocks lower at close of trade; Taiwan Weighted down 0.31%

    Investing.com – Taiwan stocks were lower after the close on Thursday, as losses in the , Hotels and Electricity sectors led shares lower.

    At the close in Taiwan, the Taiwan Weighted fell 0.31% to hit a new 1-month low.

    The best performers of the session on the Taiwan Weighted were Walsin Technology Corp (TW:2492), which rose 9.98% or 24.50 points to trade at 270.00 at the close. Meanwhile, Ritek Corp (TW:2349) added 9.90% or 0.950 points to end at 10.550 and Yageo Corp (TW:2327) was up 8.69% or 53.00 points to 663.00 in late trade.

    The worst performers of the session were Sumagh High Tech Corp (TW:1475), which fell 10.00% or 2.45 points to trade at 22.05 at the close. Tung Kai Technology Engineering Co Ltd (TW:3018) declined 9.97% or 6.20 points to end at 56.00 and Hotel Holiday Garden (TW:2702) was down 9.86% or 2.05 points to 18.75.

    Falling stocks outnumbered advancing ones on the Taiwan Stock Exchange by 466 to 325 and 124 ended unchanged.

    Crude oil for September delivery was up 0.23% or 0.15 to $65.16 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.51% or 0.36 to hit $71.12 a barrel, while the December Gold Futures contract fell 0.15% or 1.80 to trade at $1183.20 a troy ounce.

    USD/TWD was down 0.22% to 30.804, while TWD/CNY fell 0.18% to 0.2250.

    The US Dollar Index Futures was down 0.28% at 96.32.

    Read more
  • Oil Prices Mixed as U.S. Crude Stocks Hike By 6.8 Million Barrels

    Investing.com – Oil prices were mixed on Thursday as data from the Energy Informational Administration (EIA) showed the U.S. crude inventory level unexpectedly hiked by 6.8 million barrels in the week ending Aug 10. Analysts previously forecasted stockpiles would fall by 2.5 million barrels.

    Brent Oil Futures for October delivery edged up by 0.42% to $71.03 per barrel at 12:52AM ET (04:52 GMT) after hitting four-month low in the previous session, while Crude Oil WTI Futures for September delivery dropped by 0.06% to $64.97 a barrel.

    “The imports of crude oil are just remarkable. That we were able to build that much crude oil in inventory in the face of a 98% refinery run rate speaks volumes about the burst of supply that hit the market last week, said John Kilduff, founder of energy hedge fund Again Capital.

    Meanwhile, Beijing said on Thursday that it will send a delegation to the U.S. for trade talks in an attempt to alleviate tensions between the two countries.

    Chinese oil importers have not loaded crude oil from the U.S. since the start of this month, according to Reuters, compared with 300,000 barrels per day in June and July,

    “Any further escalation in the trade conflict between them is clearly an important downside risk and could lead to a further slowdown in oil demand growth for 2019, leading to downward pressure on oil prices,” said Sushant Gupta, research director at Wood Mackenzie.

    In other news, Libya’s crude oil production has exceeded 1 million barrels per day for the first time since June, after port blockades and a kidnap incident triggered production outages 670,000 barrels per day before, according to S&P Global Platts.

    Read more
  • Dollar Falls as Turkish Lira Recovers

    Investing.com - The U.S. dollar retreated on Thursday as the lira recovered after slumping to a record low of 7.24 earlier this week.

    The U.S. Dollar Index, which tracks the greenback against a basket of currencies, slipped 0.21% to 96.4 by 11:20AM ET (03:20 GMT).

    The dollar jumped to near a 13-month peak this week as the Turkish lira crisis and concerns on China’s economy provided supported to safe-haven assets.

    "Recent dollar gains reflect weakness in emerging market currencies and the euro, with 'risk off' driving flows into the U.S. currency," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

    Meanwhile, the USD/TRY pair was trading 0.3% lower as Qatar promised to invest $15 billion in Turkey. The lira surged as much as 8% against the dollar in the previous session following the news.

    The Trump administration said Wednesday that Turkey’s imposition of retaliatory tariffs against the U.S. were “a step in the wrong direction,” while White House spokeswoman Sarah Sanders said U.S. tariffs announced last week will stay in place.

    Elsewhere, the AUD/USD pair gained 0.4% to 0.7267 after China announced plans to resume trade talks with the U.S. later in August. The Aussie dollar was under pressure and has fallen 8% in the past six months amid the China-U.S. trade war and the recent Turkey crisis which drove a flight to the U.S. dollar and other safe-haven assets.

    “We’re No. 1 on the list of collateral damage in who really has a lot to lose if the China story goes south,” said Sally Auld, JPMorgan Chase & Co (NYSE:JPM).’s head of fixed-income and currency strategy for Australia. “We’re a small, open economy that’s highly leveraged to trade and to China so anything that creates difficulty with global trade is bad for us by definition. It’s pretty fundamental to our economic well-being.”

    The USD/CNY pair lost 0.51% to 6.9001, while the USD/JPY pair was unchanged at 110.75.

    Read more
  • Stocks - Dow Downed by Toxic Turkey, Plunging Energy Stocks

    Investing.com – The Dow posted tripled digit losses Wednesday as plunging oil prices sent energy stocks tumbling, and a rout in global markets hurt performance.

    The Dow Jones Industrial Average fell about 0.54%. The S&P 500 fell 0.76%, while the Nasdaq Composite fell about 1.23%.

    U.S. stocks struggled to sidestep a rout in global markets on fears economic chaos in Turkey could spill over into emerging markets denting global growth, hurting demand for riskier assets from stocks to commodities.

    Energy, meanwhile, led the downside in the broader market as oil prices slumped to settle at two-month lows on an unexpected build in U.S. crude supplies and an expansion in production for the first time in three weeks.

    On the New York Mercantile Exchange crude futures for September delivery fell 3% cents settle at $65.01 a barrel.

    Fears of a slowdown in the global economy were exacerbated by a wave of recent negative data from China, the world second-largest economy, at time when the country is locked in a trade war with the United States.

    Trade-sensitive stocks such as Boeing (NYSE:BA) and Caterpillar (NYSE:CAT) fell more than 2%.

    In a further sign of concerns about global growth copper, widely seen as a barometer of future economic trends, entered bear-market territory, slipping nearly 4%.

    Upbeat earnings from Macy's, meanwhile, failed to lift sentiment on equities as the retailer's above-forecast earnings were overshadowed by slump in sales.

    Macy’s (NYSE:M) stock fell about 16% after the department store retailer reported a second-quarter sales decline. Sales totaled $5.57 billion, down from $5.64 billion last year.

    The report from Macy's arrived as investors digested mixed retail sales data.

    The Commerce Department said on Wednesday that retail sales rose 0.5% last month, but June's retail sales was revised downward. The retail sales control group – which has a larger impact on U.S. GDP – rose 0.5% beating expectations for a 0.4% rise.

    Tech also played a role in the sell-off in equities, as a bearish quarterly report from Tencent sent a cohort of popular stocks sharply lower.

    U.S. tech heavyweights Facebook (NASDAQ:FB), Netflix Inc (NASDAQ:NFLX) and Alphabet Inc Class A (NASDAQ:GOOGL) closed lower for the day.

    In other corporate news, Tesla (NASDAQ:TSLA) was reportedly served with a subpoena from the SEC as the financial regulator takes a deeper look into the electric automaker's privatisation plans and its CEO Elon Musk's statements involving "funding secured."

    Top Dow Gainers and Losers Today:

    Merck (NYSE:MRK), Procter & Gamble (NYSE:PG), Pfizer (NYSE:PFE) among the top Dow gainers for the session.

    Chevron (NYSE:CVX), Bank of America (NYSE:BAC) and Caterpillar (NYSE:CAT) were among the worst Dow performers of the session.

    Read more
  • Brazil stocks lower at close of trade; Bovespa down 1.98%

    Investing.com – Brazil stocks were lower after the close on Wednesday, as losses in the Basic Materials, Real Estate and Consumption sectors led shares lower.

    At the close in Sao Paulo, the Bovespa fell 1.98%.

    The best performers of the session on the Bovespa were BB Seguridade Participacoes SA (SA:BBSE3), which rose 4.06% or 0.99 points to trade at 25.38 at the close. Meanwhile, JBS SA (SA:JBSS3) added 2.80% or 0.25 points to end at 9.17 and TAESA UNT N2 (SA:TAEE11) was up 1.23% or 0.25 points to 20.55 in late trade.

    The worst performers of the session were Kroton Educacional SA (SA:KROT3), which fell 7.08% or 0.77 points to trade at 10.10 at the close. Estacio Participacoes SA (SA:ESTC3) declined 6.99% or 1.77 points to end at 23.55 and Marfrig Alimentos SA (SA:MRFG3) was down 6.42% or 0.46 points to 6.70.

    Falling stocks outnumbered advancing ones on the BM&FBovespa Stock Exchange by 309 to 142 and 33 ended unchanged.

    The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 9.08% to 34.71.

    Gold Futures for December delivery was down 1.47% or 17.60 to $1183.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 3.15% or 2.11 to hit $64.93 a barrel, while the September US coffee C contract fell 2.95% or 3.11 to trade at $102.17 .

    USD/BRL was up 0.84% to 3.9003, while EUR/BRL rose 0.90% to 4.4268.

    The US Dollar Index Futures was unchanged 0.00% at 96.55.

    Read more
  • Day Ahead: Top 3 Things to Watch

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

    1. Walmart Needs Digital Earnings Strength

    Retail earnings continue with Walmart Inc(NYSE:WMT) issuing numbers before the bell.

    Analysts, on average, expect a profit of $1.22 per share, on sales of about $126 billion.

    In a nutshell, it’s all about e-commerce. That's a key battleground where market leader Amazon (NASDAQ:AMZN) is a major threat to brick-and-mortar operations. Walmart is spending billions of dollars to acquire digital properties, reorganize its stores and train its workers.

    In its biggest-ever deal, announced this year, Walmart bought a controlling stake in India’s largest online seller, Flipkart Group, for $16 billion. That follows an acquisition of e-commerce startup Jet.com two years ago.

    The stiff competition in the grocery space and the shift to e-commerce are the headwinds that will continue to pressure profitability. That won’t go away anytime soon.

    2. Housing Numbers on Tap

    Numbers giving the market insight into the housing market arrive before the bell tomorrow.

    Data on housing starts and building permits arrive at 8:30 AM ET (12:30 GMT).

    Economists expect that month-on-month housing starts were up 7.4% in July. Building permits are expected to be up 1.4%.

    At the same time, the Philly Fed manufacturing index arrives. Economists are expecting a reading of 21.9.

    3. Energy Stocks Hit

    Oil prices are in the spotlight again, keeping energy stocks active on Wall Street.

    Energy stocks fell sharply today. The S&P Energy Sector index tumbled 3.5%, with Marathon Oil (NYSE:MRO), its weakest component, down about 7%

    On the New York Mercantile Exchange crude futures for September delivery fell 3% to settle at $65.01 a barrel, while on London's Intercontinental Exchange, Brent fell 2.10% to trade at $70.94 barrel.Inventories of U.S. crude rose by 6.805 million barrels for the week ended Aug. 10, missing expectations for a draw of 2.449 million barrels, according to data from the Energy Information Administration (EIA).

    Read more
  • Crude Oil Prices Settle Lower After Surprise Surge in U.S. Crude Supplies

    Investing.com - WTI crude oil prices settled at two-month lows Wednesday after data showed a an unexpected build in US crude supplies, while domestic production resumed expansion.

    On the New York Mercantile Exchange crude futures for September delivery fell 3% to settle at $65.01 a barrel, while on London's Intercontinental Exchange, Brent fell 2.10% to trade at $70.94 barrel.

    Inventories of U.S. crude rose by 6.805 million barrels for the week ended Aug. 10, missing expectations for a draw of 2.449 million barrels, according to data from the Energy Information Administration (EIA).

    The unexpected build in crude supplies emerged as imports rose by about 1.341 million barrels a day (bpd) while exports fell by 2.58 million bpd, data from EIA showed. An increase in refinery activity, which tends to support demand for crude, did little to limit the build in stockpiles.

    Refinery activity rose to 98.1% of their capacity last week from 96.6% a week earlier, with inputs averaging about 18.0 million barrels per day during, up 383,000 barrels from the prior week, the EIA said.

    Gasoline inventories – one of the products that crude is refined into – fell by 6.805 million barrels, beating expectations for a draw of 0.583 million barrels, while supplies of distillate – the class of fuels that includes diesel and heating oil – rose by 3.566 million barrels, against expectations for a build of 0.964 million barrels.

    U.S. oil production rose for the first time in three weeks to 10.9 million bpd from a record high 11 million bpd reported in late-July.

    Signs of dwindling demand for Iranian crude from buyers helped strengthen expectations for steeper losses of Iran crude from the market, keeping a lid on downside momentum in oil prices.

    India, the second biggest crude customer for Iran, is reportedly considering slashing its imports of Iranian crude by half to secure a waiver from the U.S. to continue with imports, Bloomberg reported Tuesday, citing people familiar with the matter.

    After pulling the United States out of the Iran nuclear agreement in May, President Donald Trump paved the way for sanctions against Iran to snap back into place that are expected to cripple Iran's energy infrastructure and oil exports.

    Oil prices were also pressured by a rise in the dollar as investors seemingly flocked to the greenback as worries mount that the financial crisis in Turkey could spill over into other markets, triggering a systemic slowdown in global growth, which would hurt oil demand.

    Read more
  • Metals Prices Rattled as Turkey Turmoil Triggers Emerging-Market Concerns

    Investing.com - Metal prices were hurt by an ongoing rise in the dollar and worries that an economic crisis in Turkey could spread to emerging markets which would hit already fragile demand for commodities.

    Gold futures for August delivery on the Comex division of the New York Mercantile Exchange fell by $15.90 or 1.13%, to $1,184.80 a troy ounce.

    Gold prices failed to hold onto the psychologically important $1,200 swinging to an 18-month low as dollar continued to edge higher, hurting demand for the yellow metal.

    The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.44% to 96.58.

    The rise in the dollar comes as concerns over Turkey persisted, with some analysts warning a recession beckons as higher interest – to support the lira – would stifle growth.

    "A recession is on the horizon in Turkey, but the depth of the recession depends on the measures taken," ABN Amro said. "Lower growth, higher interest rates and on balance a weaker currency would still make it difficult for certain [Turkish] companies to fulfill their external debt obligations, but a national debt crisis would be avoided," it added.

    Gold is sensitive to moves higher in the U.S. dollar – a stronger dollar makes gold more expensive for holders of foreign currency, thus, reduces investor demand for the precious metal.

    Sentiment on the commodities including metals have soured recently as the crisis in Turkey, and data pointing to a slowdown in China's economy has created a cocktail of uncertainty, keeping a lid on demand.

    Copper prices fell 3.95% to $2.58, slipping into bear-market territory, while zinc prices fell 6.44% at 2,293.50.

    Aluminium prices fell 2.05% to 2,026.25, while Nickel futures fell 4.06% to 12,885.00.

    Silver futures fell 0.45% to $14.45 a troy ounce, while platinum futures fell 3.92% to $770.30

    Read more
  • Forex – Dollar Steadies at 13-Month Highs on Upbeat U.S. Data, Turkey Troubles

    Investing.com - The dollar steadied against its rivals at 13-month highs Wednesday, but gains were limited by rising demand for safe-haven yen on fears turmoil in Turkey could spill over into other markets.

    The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.05% to 96.60.

    The lira rose sharply against the dollar for the second-straight day as Turkey doubled tariffs on some U.S. imports, including alcohol, cars and tobacco in retaliation for U.S. moves.

    The rise in the lira did little to ease investor concerns as analysts warned that while Turkey may take measures to support the lira, the country's economy would likely plunge into a recession.

    "A recession is on the horizon in Turkey, but the depth of the recession depends on the measures taken," ABN Amro said. "Lower growth, higher interest rates and on balance a weaker currency would still make it difficult for certain [Turkish] companies to fulfill their external debt obligations, but a national debt crisis would be avoided.".

    Concerns over Turkey saw demand for the safe-haven yen and Swiss franc increase, keeping gains in the greenback in check.

    USD/JPY fell 0.40% to 111.72, while USD/CHF fell 0.01% to 0.9940.

    A duo of economic reports on retail sales and regional manufacturing pushed the dollar to an intraday high, but the greenback struggled to hold gains.

    The Commerce Department said on Wednesday that retail sales rose 0.5% last month, but June's retail sales was revised downward. The retail sales control group -- which has a larger impact on U.S. GDP -- rose 0.5%, beating expectations for a 0.4% rise.

    The Empire State manufacturing index rose 5.30 points in August to a reading of 25.60, the New York Federal Reserve said Wednesday. That was its highest reading in 10 months.

    Elsewhere, bargain hunters scooped up the euro as it plunged to one-year low intraday against the dollar.

    EUR/USD fell 0.02% to $1.1343, after trading as low as $1.1301.

    GBPUSD fell 0.18% to $1.2701, while USD/CAD rose 0.64% to C$1.3142.

    Read more
  • Portugal stocks lower at close of trade; PSI 20 down 1.59%

    Investing.com – Portugal stocks were lower after the close on Wednesday, as losses in the Basic Materials, Industrials and Financials sectors led shares lower.

    At the close in Lisbon, the PSI 20 fell 1.59% to hit a new 1-month low.

    The best performers of the session on the PSI 20 were Corticeira Amorim (LS:CORA), which rose 0.75% or 0.080 points to trade at 10.720 at the close. Meanwhile, Ibersol SGPS (LS:IBS) added 0.21% or 0.020 points to end at 9.600 and CTT Correios de Portugal SA (LS:CTT) was unchanged 0.00% or 0.0000 points to 3.1640 in late trade.

    The worst performers of the session were The Navigator Company SA (LS:NVGR), which fell 4.45% or 0.2000 points to trade at 4.2960 at the close. Altri SGPS (LS:ALSS) declined 3.62% or 0.3100 points to end at 8.2600 and Galp Energia Nom (LS:GALP) was down 2.46% or 0.4350 points to 17.2500.

    Falling stocks outnumbered advancing ones on the Lisbon Stock Exchange by 23 to 8 and 6 ended unchanged.

    Brent oil for October delivery was down 1.89% or 1.37 to $71.09 a barrel. Elsewhere in commodities trading, Crude oil for delivery in September fell 2.91% or 1.95 to hit $65.09 a barrel, while the December Gold Futures contract fell 1.33% or 16.00 to trade at $1184.70 a troy ounce.

    EUR/USD was up 0.02% to 1.1347, while EUR/GBP rose 0.16% to 0.8931.

    The US Dollar Index Futures was up 0.04% at 96.59.

    Read more
  • Denmark stocks lower at close of trade; OMX Copenhagen 20 down 1.28%

    Investing.com – Denmark stocks were lower after the close on Wednesday, as losses in the Chemicals, Healthcare and Industrials sectors led shares lower.

    At the close in Copenhagen, the OMX Copenhagen 20 declined 1.28%.

    The best performers of the session on the OMX Copenhagen 20 were Vestas Wind Systems A/S (CO:VWS), which rose 3.09% or 12.2 points to trade at 407.2 at the close. Meanwhile, Pandora A/S (CO:PNDORA) added 1.80% or 6.6 points to end at 372.7 and Lundbeck A/S (CO:LUN) was up 1.15% or 4.3 points to 376.8 in late trade.

    The worst performers of the session were GN Store Nord (CO:GN), which fell 3.86% or 12.5 points to trade at 311.0 at the close. FLSmidth&Co. (CO:FLS) declined 3.83% or 15.0 points to end at 376.3 and Novozymes A/S B (CO:NZYMb) was down 2.49% or 8.5 points to 333.0.

    Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 83 to 42 and 16 ended unchanged.

    Crude oil for September delivery was down 3.42% or 2.29 to $64.75 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 2.44% or 1.77 to hit $70.69 a barrel, while the December Gold Futures contract fell 1.36% or 16.30 to trade at $1184.40 a troy ounce.

    USD/DKK was up 0.03% to 6.5726, while EUR/DKK rose 0.01% to 7.4553.

    The US Dollar Index Futures was up 0.07% at 96.62.

    Read more
  • France stocks lower at close of trade; CAC 40 down 1.82%

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

    At the close in Paris, the CAC 40 fell 1.82% to hit a new 1-month low, while the SBF 120 index declined 1.66%.

    The best performers of the session on the CAC 40 were Publicis Groupe SA (PA:PUBP), which rose 0.81% or 0.44 points to trade at 54.78 at the close. Meanwhile, Cap Gemini SA (PA:CAPP) fell 0.45% or 0.50 points to end at 110.25 and WFD Unibail Rodamco NV (AS:URW) was down 0.49% or 0.90 points to 183.20 in late trade.

    The worst performers of the session were ArcelorMittal SA (AS:MT), which fell 4.76% or 1.245 points to trade at 24.905 at the close. STMicroelectronics NV (PA:STM) declined 4.67% or 0.835 points to end at 17.055 and TechnipFMC PLC (PA:FTI) was down 4.52% or 1.15 points to 24.30.

    The top performers on the SBF 120 were Air France KLM SA (PA:AIRF) which rose 1.59% to 8.920, Eutelsat Communications (PA:ETL) which was up 1.48% to settle at 20.57 and Amundi SA (PA:AMUN) which gained 1.11% to close at 59.96.

    The worst performers were Eramet (PA:ERMT) which was down 7.65% to 74.85 in late trade, ArcelorMittal SA (AS:MT) which lost 4.76% to settle at 24.905 and STMicroelectronics NV (PA:STM) which was down 4.67% to 17.055 at the close.

    Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 393 to 144 and 127 ended unchanged.

    The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 14.52% to 17.80 a new 3-months high.

    Gold Futures for December delivery was down 1.37% or 16.40 to $1184.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 3.37% or 2.26 to hit $64.78 a barrel, while the October Brent oil contract fell 2.40% or 1.74 to trade at $70.72 a barrel.

    EUR/USD was down 0.01% to 1.1344, while EUR/GBP rose 0.16% to 0.8931.

    The US Dollar Index Futures was up 0.06% at 96.61.

    Read more
  • Russia stocks lower at close of trade; MOEX Russia down 0.69%

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

    At the close in Moscow, the MOEX Russia lost 0.69%.

    The best performers of the session on the MOEX Russia were MegaFon OAO (MCX:MFON), which rose 2.49% or 15.50 points to trade at 639.00 at the close. Meanwhile, PIK (MCX:PIKK) added 2.46% or 8.60 points to end at 358.60 and PhosAgro ao (MCX:PHOR) was up 1.89% or 43.0 points to 2314.0 in late trade.

    The worst performers of the session were SG mechel (MCX:MTLR), which fell 3.91% or 3.45 points to trade at 84.85 at the close. Safmar Finansovye Investitsii PAO (MCX:SFIN) declined 3.35% or 21.4 points to end at 617.6 and Yandex NV (MCX:YNDX) was down 2.74% or 59.00 points to 2091.00.

    Falling stocks outnumbered advancing ones on the Moscow Stock Exchange by 133 to 77 and 17 ended unchanged.

    Shares in SG mechel (MCX:MTLR) fell to 52-week lows; losing 3.91% or 3.45 to 84.85. Shares in PIK (MCX:PIKK) rose to 5-year highs; gaining 2.46% or 8.60 to 358.60.

    The Russian VIX, which measures the implied volatility of MOEX Russia options, was down 1.23% to 31.220 a new 3-months high.

    Gold Futures for December delivery was down 1.34% or 16.10 to $1184.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 3.39% or 2.27 to hit $64.77 a barrel, while the October Brent oil contract fell 2.44% or 1.77 to trade at $70.69 a barrel.

    USD/RUB was up 1.76% to 67.5018, while EUR/RUB rose 1.67% to 76.5333.

    The US Dollar Index Futures was up 0.06% at 96.61.

    Read more
  • U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 1.54%

    Investing.com – U.K. stocks were lower after the close on Wednesday, as losses in the Industrial Metals&Mining, Mining and Oil Equipment Services&Distribution sectors led shares lower.

    At the close in London, the Investing.com United Kingdom 100 lost 1.54% to hit a new 1-month low.

    The best performers of the session on the Investing.com United Kingdom 100 were Hikma Pharmaceuticals PLC (LON:HIK), which rose 5.95% or 98.00 points to trade at 1745.00 at the close. Meanwhile, Admiral Group PLC (LON:ADML) added 3.20% or 64.00 points to end at 2062.00 and GlaxoSmithKline PLC (LON:GSK) was up 1.95% or 30.4 points to 1590.4 in late trade.

    The worst performers of the session were Fresnillo PLC (LON:FRES), which fell 7.79% or 75.80 points to trade at 897.00 at the close. Anglo American PLC (LON:AAL) declined 6.20% or 102.00 points to end at 1542.20 and Antofagasta PLC (LON:ANTO) was down 5.66% or 50.20 points to 836.20.

    Falling stocks outnumbered advancing ones on the London Stock Exchange by 1453 to 504 and 320 ended unchanged.

    Shares in Hikma Pharmaceuticals PLC (LON:HIK) rose to 52-week highs; gaining 5.95% or 98.00 to 1745.00. Shares in Fresnillo PLC (LON:FRES) fell to 52-week lows; falling 7.79% or 75.80 to 897.00. Shares in Antofagasta PLC (LON:ANTO) fell to 52-week lows; losing 5.66% or 50.20 to 836.20.

    Gold Futures for December delivery was down 1.44% or 17.30 to $1183.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 3.51% or 2.35 to hit $64.69 a barrel, while the October Brent oil contract fell 2.62% or 1.90 to trade at $70.56 a barrel.

    GBP/USD was down 0.21% to 1.2698, while EUR/GBP rose 0.12% to 0.8928.

    The US Dollar Index Futures was up 0.09% at 96.64.

    Read more
  • Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.93%

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

    At the close in Stockholm, the OMX Stockholm 30 declined 0.93%.

    The best performers of the session on the OMX Stockholm 30 were Svenska Cellulosa SCA AB B (ST:SCAb), which rose 1.82% or 1.7 points to trade at 96.0 at the close. Meanwhile, Svenska Handelsbanken AB A (ST:SHBa) added 1.09% or 1.18 points to end at 109.03 and Essity AB B (ST:ESSITYb) was up 0.66% or 1.50 points to 227.70 in late trade.

    The worst performers of the session were Boliden AB (ST:BOL), which fell 4.19% or 10.75 points to trade at 245.80 at the close. Sandvik AB (ST:SAND) declined 4.18% or 6.65 points to end at 152.40 and SSAB AB ser. A (ST:SSABa) was down 3.57% or 1.46 points to 39.38.

    Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 396 to 241 and 48 ended unchanged.

    Shares in Boliden AB (ST:BOL) fell to 52-week lows; losing 4.19% or 10.75 to 245.80.

    Crude oil for September delivery was down 3.46% or 2.32 to $64.72 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 2.64% or 1.91 to hit $70.55 a barrel, while the December Gold Futures contract fell 1.47% or 17.60 to trade at $1183.10 a troy ounce.

    EUR/SEK was up 0.78% to 10.4543, while USD/SEK rose 0.87% to 9.2236.

    The US Dollar Index Futures was up 0.11% at 96.66.

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  • Norway stocks lower at close of trade; Oslo OBX down 1.54%

    Investing.com – Norway stocks were lower after the close on Wednesday, as losses in the Technology Hardware&Equipment, Materials and Utilities sectors led shares lower.

    At the close in Oslo, the Oslo OBX lost 1.54%.

    The best performers of the session on the Oslo OBX were DNO International ASA (OL:DNO), which rose 1.35% or 0.25 points to trade at 18.75 at the close. Meanwhile, Norwegian Finans Holding ASA (OL:NOFI) added 0.25% or 0.25 points to end at 98.95 and Gjensidige Forsikring ASA (OL:GJFS) was up 0.23% or 0.3 points to 131.9 in late trade.

    The worst performers of the session were TGS-NOPEC Geophysical Company ASA (OL:TGS), which fell 6.67% or 22.7 points to trade at 317.6 at the close. Petroleum Geo - Services ASA (OL:PGS) declined 4.97% or 1.91 points to end at 36.50 and Subsea 7 SA (OL:SUBC) was down 3.58% or 4.0 points to 109.2.

    Falling stocks outnumbered advancing ones on the Oslo Stock Exchange by 117 to 65 and 23 ended unchanged.

    Shares in DNO International ASA (OL:DNO) rose to 3-years highs; gaining 1.35% or 0.25 to 18.75.

    Crude oil for September delivery was down 3.42% or 2.29 to $64.75 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 2.58% or 1.87 to hit $70.59 a barrel, while the December Gold Futures contract fell 1.49% or 17.90 to trade at $1182.80 a troy ounce.

    EUR/NOK was up 0.60% to 9.6041, while USD/NOK rose 0.70% to 8.4746.

    The US Dollar Index Futures was up 0.12% at 96.67.

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  • Israel stocks lower at close of trade; TA 35 down 0.72%

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

    At the close in Tel Aviv, the TA 35 declined 0.72%.

    The best performers of the session on the TA 35 were Partner (TA:PTNR), which rose 3.95% or 55 points to trade at 1447 at the close. Meanwhile, Delek Group (TA:DLEKG) added 2.19% or 1110 points to end at 51720 and Bezeq Israeli Telecommunication Corp Ltd (TA:BEZQ) was up 1.74% or 6.4 points to 375.0 in late trade.

    The worst performers of the session were Azrieli Group Ltd (TA:AZRG), which fell 2.66% or 480 points to trade at 17540 at the close. Bazan Oil Refineries Ltd (TA:ORL) declined 2.63% or 5.0 points to end at 185.0 and OPKO Health Inc (TA:OPK) was down 2.44% or 48 points to 1918.

    Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 225 to 143 and 33 ended unchanged.

    Crude oil for September delivery was down 3.61% or 2.42 to $64.62 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 2.76% or 2.00 to hit $70.46 a barrel, while the December Gold Futures contract fell 1.23% or 14.80 to trade at $1185.90 a troy ounce.

    USD/ILS was up 0.20% to 3.6897, while EUR/ILS fell 0.08% to 4.1734.

    The US Dollar Index Futures was up 0.24% at 96.78.

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  • U.S. Oil Prices Sink To 8-Week Low After Bearish Supply Data

    Investing.com - U.S. crude prices plunged further on Wednesday, hitting an eight-week low after data showed that U.S. oil stockpiles rose unexpectedly last week.

    West Texas Intermediate crude was down $1.73, or roughly 2.5%, at $65.36 a barrel on the New York Mercantile Exchange by 10:33AM ET. It was the lowest level since June 21. Prices were at around $65.86 prior to the release of the inventory data.

    The U.S. Energy Information Administration said in its weekly report that crude oil inventories rose by 6.8 million barrels in the week ended August 10.

    That compared with analysts' expectations for a decline of 2.4 million barrels, while the American Petroleum Institute late Tuesday reported a supply-increase of 3.7 million barrels.

    Total U.S. crude oil inventories stood at 414.2 million barrels as of last week.

    The report also showed that gasoline inventories decreased by 740,000 barrels, compared to expectations for a drop of 583,000 barrels. For distillate inventories including diesel, the EIA reported a rise of 3.5 million barrels.

    Prices were already on the backfoot ahead of the EIA data, as sentiment was clouded by a darkening economic outlook which could start impacting oil demand, traders said.

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  • Stocks - Wall Street Tumbles as Retail Earnings Can't Overwhelm Turkey Worries

    Investing.com - Wall Street opened lower Wednesday on concerns about retail earnings and global market weakness.

    The Dow fell about 0.6%, while the Nasdaq composite lost about 0.6% and the S&P 500 fell about 0.6%.

    Turkey remained problematic for investors, keeping money on the sidelines. Turkey doubled tariffs on a few imports from the U.S., including alcohol, cars and tobacco.

    Meanwhile, Beijing has lodged a complaint to the World Trade Organization to help determine the legality of U.S. tariff and subsidy policies.

    Department store chain Macy’s (NYSE:M) tumbled 9% despite posting very strong fiscal second-quarter numbers. Macy’s stock was already close to a 52-week high.

    Kohl’s (NYSE:KSS), Nordstrom (NYSE:JWN) and JC Penney (NYSE:JCP) all started the session in the red.

    Meanwhile, shares of Apple (NASDAQ:AAPL) slumped despite news that Berkshire Hathaway (NYSE:BRKb) had upped its stake in the company.

    E-commerce giant Alibaba (NYSE:BABA) fell roughly 3%. Losses picked up speed after Chinese internet giant Tencent reported a surprise drop in second-quarter net profit, its first decline in nearly 13 years.

    And Tesla (NASDAQ:TSLA) shares lost 2% after Bloomberg reported that Chief Executive Elon Musk hadn’t officially tapped Goldman Sachs (NYSE:GS) as its financial adviser when he revealed plans last week to take the car maker private and said he had secured funding for the deal.

    In Europe, stocks were down. Germany’s DAX fell 1.3%, while in France the CAC 40 decreased 1.4%, and in London, the FTSE 100 was down 1.3%.

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  • Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.35%

    Investing.com – Saudi Arabia stocks were lower after the close on Wednesday, as losses in the Petrochemicals, Agriculture&Food and Telecoms&IT sectors led shares lower.

    At the close in Saudi Arabia, the Tadawul All Share lost 0.35% to hit a new 3-months low.

    The best performers of the session on the Tadawul All Share were Alinma Tokio Marine Co (SE:8312), which rose 6.84% or 1.24 points to trade at 19.38 at the close. Meanwhile, Saudi Industrial Services Co. (SE:2190) added 6.79% or 0.84 points to end at 13.22 and United Electronics Company (SE:4003) was up 5.16% or 2.70 points to 55.00 in late trade.

    The worst performers of the session were The National Shipping Co. (SE:4030), which fell 3.78% or 1.15 points to trade at 29.30 at the close. Saudi Indian Company Insurance (SE:8110) declined 2.97% or 0.30 points to end at 9.80 and Jabal Omar Development Company (SE:4250) was down 2.44% or 0.90 points to 36.00.

    Rising stocks outnumbered declining ones on the Saudi Arabia Stock Exchange by 92 to 71 and 23 ended unchanged.

    Shares in Saudi Indian Company Insurance (SE:8110) fell to all time lows; losing 2.97% or 0.30 to 9.80. Shares in Jabal Omar Development Company (SE:4250) fell to 3-years lows; falling 2.44% or 0.90 to 36.00.

    Crude oil for September delivery was down 0.92% or 0.62 to $66.42 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.70% or 0.51 to hit $71.95 a barrel, while the December Gold Futures contract fell 0.77% or 9.30 to trade at $1191.40 a troy ounce.

    EUR/SAR was down 0.30% to 4.2415, while USD/SAR fell 0.01% to 3.7494.

    The US Dollar Index Futures was up 0.25% at 96.79.

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  • Empire State Index Manufacturing Rises in August

    Investing.com - Business activity remained robust in New York State this month, according to a report released on Wednesday.

    The Empire State manufacturing index rose to 25.6 from 22.6 in July, the New York Fed reported. The consensus forecast had been for a reading of 20.3.

    Any reading above zero indicates improving conditions, and below indicates worsening conditions.

    New orders and shipments grew strongly, and companies reported an increase in unfilled orders. The new orders index was little changed at 17.1, and the shipments index rose eleven points to 25.7—readings that reflected strong growth.

    Delivery times continued to lengthen, and inventories held steady.

    Labor market indicators pointed to solid gains in employment and longer work weeks. Price indexes were little changed and remained elevated, indicating ongoing significant price increases. The prices paid index inched up to 45.2, and the prices received index came in at 20.0.

    The report also said that companies stepped up capital spending plans and were fairly optimistic about the six-month outlook, though less so than earlier this year. The index for future business conditions climbed four points to 34.8.

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  • Stocks - Macy's, Alibaba Fall in Pre-market; Canopy Growth Soars

    Investing.com - Stocks in focus in pre-market trade Wednesday:

    • Macy's (NYSE:M) stock fell around 5% after the department store retailer reported a second-quarter sales decline. Sales totaled $5.57 billion, down from $5.64 billion last year.

    • E-commerce giant Alibaba (NYSE:BABA) fell roughly 3%. Losses picked up speed after Chinese internet giant Tencent (OTC:TCEHY) reported a surprise drop in second-quarter net profit, its first decline in nearly 13 years.

    • Helios & Matheson (NASDAQ:HMNY) plunged 27% after the parent company of MoviePass lost millions of dollars in the second quarter as the subscription-movie offering sought to change its rules.

    • Tesla (NASDAQ:TSLA) shares lost 1% after Bloomberg reported that Chief Executive Elon Musk hadn’t officially tapped Goldman Sachs (NYSE:GS) as its financial adviser when he revealed plans last week to take the car maker private and said he had secured funding for the deal.

    • Intel (NASDAQ:INTC) slid 0.6% after disclosing three more possible flaws in some of its microprocessors.

    • U.S.-listed shares of Canada-based Canopy Growth (NYSE:CGC) shot up 47% after after liquor seller Constellation Brands (NYSE:STZ) said it will invest about $4 billion in the diversified cannabis company as part of an expansion of the companies' strategic partnership.

    • Teva Pharma (NYSE:TEVA) gained 1.3% after a regulatory filing showed Warren Buffett's Berkshire Hathaway (NYSE:BRKb) increased its position by 6.7% during the second quarter.

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  • Gold Prices Hit Fresh 1-1/2 Year Lows as Strong Dollar Weighs

    Investing.com - Gold prices fell to fresh one-and-a-half year lows on Wednesday as the broadly strong dollar continued to weigh on demand for bullion.

    December gold futures hit a low of $1,190.80, the weakest level since late January 2017, and were down 0.74% at $1,191.80 by 07:34 AM ET (11:34 AM GMT) on the Comex division of the New York Mercantile Exchange.

    Gold prices remained below the psychologically important $1,200 level as fears over contagion effects from Turkey's financial crisis saw investors continue to seek safety in the U.S. dollar.

    The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was up 0.24% at 96.77, the most since late June, 2017.

    The greenback’s strength continued to offset the safe haven appeal of the yellow metal. A stronger U.S. currency makes gold and other dollar-denominated commodities more expensive for foreign investors.

    Weakness in gold also weighed down other metals, with September silver falling 1.78% to $14.785 a troy ounce. October platinum was trading at $776.50, off 3.13% for the day.

    Among base metals, September copper was down 2.72% at $2.610.

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  • United Arab Emirates stocks mixed at close of trade; DFM General down 0.81%

    Investing.com – United Arab Emirates stocks were mixed after the close on Wednesday, as gains in the Insurance, Finance&Investment and Consumer Staples sectors led shares higher while losses in the Transport, Real Estate&Construction and Telecoms sectors led shares lower.

    At the close in Dubai, the DFM General fell 0.81% to hit a new 1-month low, while the ADX General index gained 1.16%.

    The best performers of the session on the DFM General were Dubai Islamic Insurance Co. (DU:AMAN), which rose 5.51% or 0.036 points to trade at 0.689 at the close. Meanwhile, Islamic Arab Insurance Company (DU:SALAMA) added 4.56% or 0.018 points to end at 0.413 and AJMAN BANK PJSC (DU:AJBNK) was up 2.32% or 0.021 points to 0.925 in late trade.

    The worst performers of the session were Drake&Scull International PJSC (DU:DSI), which fell 4.19% or 0.020 points to trade at 0.457 at the close. Gulf General Investments Company (DU:GGIC) declined 2.99% or 0.008 points to end at 0.260 and Gulf Navigation Holding PJSC (DU:GNAV) was down 2.98% or 0.028 points to 0.911.

    The top performers on the ADX General were Sharjah Cement AD (AD:SCID) which rose 8.70% to 1.000, Agthia Group (AD:AGTH) which was up 5.59% to settle at 4.91 and Waha Capital (AD:WAHA) which gained 3.35% to close at 1.850.

    The worst performers were Invest Bank AD (AD:INVB) which was down 9.80% to 1.840 in late trade, Ad Shipbldg Co (AD:ADSB) which lost 6.54% to settle at 1.430 and Abu Dhabi National for Building Materials Co PJSC (AD:BILD) which was down 5.45% to 0.520 at the close.

    Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 20 to 11 and 7 ended unchanged; on the Abu Dhabi, 9 fell and 9 advanced, while 8 ended unchanged.

    Shares in Drake&Scull International PJSC (DU:DSI) fell to all time lows; losing 4.19% or 0.020 to 0.457. Shares in Invest Bank AD (AD:INVB) fell to 52-week lows; falling 9.80% or 0.200 to 1.840. Shares in Ad Shipbldg Co (AD:ADSB) fell to 3-years lows; losing 6.54% or 0.100 to 1.430.

    Crude oil for September delivery was down 1.25% or 0.84 to $66.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.92% or 0.67 to hit $71.79 a barrel, while the December Gold Futures contract fell 0.77% or 9.30 to trade at $1191.40 a troy ounce.

    USD/AED was up 0.00% to 3.6732, while EUR/AED fell 0.23% to 4.1569.

    The US Dollar Index Futures was up 0.24% at 96.78.

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  • Sri Lanka stocks lower at close of trade; CSE All-Share down 0.43%

    Investing.com – Sri Lanka stocks were lower after the close on Wednesday, as losses in the Footwear&Textile, Construction&Engineering and Investment Trust sectors led shares lower.

    At the close in Colombo, the CSE All-Share fell 0.43% to hit a new 1-month low.

    The best performers of the session on the CSE All-Share were Adam Investments Ltd (CM:ADAM), which rose 50.00% or 0.100 points to trade at 0.300 at the close. Meanwhile, Tess Agro PLC (CM:TESS) added 20.00% or 0.100 points to end at 0.600 and City Housing and Real Estate Company PLC (CM:CHOU) was up 13.04% or 0.60 points to 5.20 in late trade.

    The worst performers of the session were Trade Finance &Investments PLC (CM:TFIL), which fell 19.71% or 13.50 points to trade at 55.00 at the close. Nanda Investments and Finance PLC (CM:NAND) declined 17.37% or 7.80 points to end at 37.10 and Tea Smallholder Factories PLC (CM:TSML) was down 12.80% or 3.20 points to 21.80.

    Falling stocks outnumbered advancing ones on the Colombo Stock Exchange by 99 to 74 and 54 ended unchanged.

    Shares in Tea Smallholder Factories PLC (CM:TSML) fell to 52-week lows; losing 12.80% or 3.20 to 21.80.

    Crude oil for September delivery was down 1.06% or 0.71 to $66.33 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.72% or 0.52 to hit $71.94 a barrel, while the December Gold Futures contract fell 0.76% or 9.10 to trade at $1191.60 a troy ounce.

    GBP/LKR was down 0.14% to 203.670, while USD/LKR rose 0.02% to 160.170.

    The US Dollar Index Futures was up 0.21% at 96.75.

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  • Top 5 Things To Know In The Market On Wednesday

    Investing.com - Here are the top five things you need to know in financial markets on Wednesday, August 15:

    1. Global Stocks Subdued Amid China, Turkey Jitters

    In equities, global stocks were mostly lower in subdued trade, as bearish Chinese markets worsened investor sentiment already hurt by Turkey's financial crisis.

    Asian stocks retreated to a one-year low, as investors were rattled by another sell-off in China, which tumbled more than 2% despite a liquidity injection by the People’s Bank of China.

    Signs of the world's second-largest economy losing momentum and the ongoing Sino-U.S. trade conflict have weighed on Chinese equities.

    The cautious sentiment carried over to Europe, where the region's major bourses were lower as concerns over the Turkish currency crisis continued to affect investors' appetite.

    Turkey doubled tariffs on some U.S. imports including cars, alcohol and tobacco on Wednesday in retaliation for U.S. moves, in the latest escalation in tensions between the two countries.

    Despite the news, the Turkish lira rallied a further 3% against the dollar, while the BIST 100 index was down 1.5%.

    On Wall Street, U.S. stock futures looked set to open lower, as investors focused on the latest batch of corporate earnings and economic data.

    The blue-chip Dow futures indicated a loss of 135 points, or around 0.5%, by 6:30AM ET, the S&P 500 futures dipped 15 points, or around 0.5%.

    Meanwhile, the tech-heavy Nasdaq 100 futures pointed to a drop of 50 points, or roughly 0.7%, as disappointing results from Chinese tech giant Tencent (OTC:TCEHY) looked set to drag down the sector.

    2. Macy's Reports Earnings

    Macy’s (NYSE:M) is one of the last notable names slated to report fiscal second-quarter results before U.S. markets open, as the earnings season continues to wind down.

    The retailer is expected to report earnings of 50 cents per share on revenue of $5.56 billion, according to estimates.

    Investors will be closely watching the results for a view of general consumer confidence in the economy. Consumer spending accounts for as much as 70% of U.S. economic growth.

    Shares of Macy's were trading little changed in premarket. The stock has more than doubled over the last year as the retail sector - beaten down through 2015 and 2016 - has staged a big comeback over that period.

    Other headliners expected out today include S&P 500 members NetApp (NASDAQ:NTAP) and Cisco (NASDAQ:CSCO), both due after the bell.

    3. Dollar Hits Another 13-Month Peak

    Away from equities, the U.S. dollar hit another 13-month high against a basket of major currencies, as safe-haven demand rooted in fears over fallout from the Turkish lira's recent drop boosted the U.S. currency.

    The U.S. dollar index was up 0.15% to 96.70, after climbing to an overnight peak of 96.76, its best level since June 27, 2017.

    The greenback's strength has also been bolstered by a drop for the euro, as investors continued to worry over the region's banking sector exposure to the Turkish economy.

    The euro was last down about 0.2% at 1.1325 (EUR/USD), after earlier touching a new 13-month low of 1.1317.

    The pound also hit a 13-month low, dropping 0.2% to 1.2692, before crawling back to 1.2715 (GBP/USD).

    Elsewhere in foreign exchange markets, China's offshore yuan weakened about 0.3%, last trading at 6.9175 yuan per dollar after falling as far as 6.9210, its lowest level since March 2017.

    In the bond market, the benchmark 10-year Treasury note yield declined 1 basis point to 2.882% after poking above 2.900% on Tuesday.

    4. U.S. Retail Sales In Focus

    On the data front, the Commerce Department will publish data on retail sales for July at 8:30AM ET.

    The consensus forecast is that the report will show retail sales rose 0.2% last month, moderating from a gain of 0.5% in June.

    Excluding the automobile sector, sales are expected to increase 0.4%, the same as its increase a month earlier.

    Also on the economic calendar will be the New York Fed’s Empire State manufacturing reading for the month of August, followed by the Federal Reserve’s July report on industrial production and the NAHB’s homebuilder sentiment reading for August.

    Economists reckon the data will do little to alter expectations that the Federal Reserve will hike interest rates two more times this year, with the next move higher coming at its September meeting.

    5. Oil Slips Ahead Of EIA Supply Report

    The U.S. Energy Information Administration will release its official weekly oil supplies report for the week ended August 10 at 10:30AM ET.

    After markets closed Tuesday, the American Petroleum Institute said that U.S. oil inventories rose by nearly 3.7 million barrels last week.

    New York-traded WTI crude futures shed 77 cents, or 1.2%, to $66.27 per barrel, while Brent futures declined 76 cents $71.69 per barrel.

    Sentiment was also clouded by a darkening economic outlook which could start impacting oil demand, traders said.

    Elsewhere in commodity markets, gold prices extended their decline to a 19-month low, as the yellow metal found little in the way of safety flows.

    Spot gold fell $6.90, or 0.6%, to $1,187.20, its lowest level since January 2017.

    Copper futures were also down sharply, slumping 2.7% to hit a 14-month low of $2.608 a pound.

    Read more
  • Indonesia stocks higher at close of trade; IDX Composite Index up 0.81%

    Investing.com – Indonesia stocks were higher after the close on Wednesday, as gains in the Agriculture, Infrastructure and Miscellaneous Industry sectors led shares higher.

    At the close in Jakarta, the IDX Composite Index added 0.81%.

    The best performers of the session on the IDX Composite Index were PP London Sumatra Indonesia (JK:LSIP), which rose 12.29% or 145 points to trade at 1325 at the close. Meanwhile, Astra Agro Lestari Tbk (JK:AALI) added 11.76% or 1400 points to end at 13300 and Eagle High Plantations Tbk (JK:BWPT) was up 11.21% or 24 points to 238 in late trade.

    The worst performers of the session were Yanaprima Hastapersada Tbk (JK:YPAS), which fell 21.35% or 190 points to trade at 700 at the close. Indonesia Pondasi Raya Tbk PT (JK:IDPR) declined 9.09% or 70 points to end at 700 and Garuda Maintenance Facility AeroAsia Tbk PT (JK:GMFI) was down 7.89% or 18 points to 210.

    Rising stocks outnumbered declining ones on the Jakarta Stock Exchange by 187 to 183 and 128 ended unchanged.

    Shares in Garuda Maintenance Facility AeroAsia Tbk PT (JK:GMFI) fell to all time lows; losing 7.89% or 18 to 210.

    Crude oil for September delivery was down 1.25% or 0.84 to $66.20 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 0.91% or 0.66 to hit $71.80 a barrel, while the December Gold Futures contract fell 0.66% or 7.90 to trade at $1192.80 a troy ounce.

    USD/IDR was up 0.35% to 14658.7, while AUD/IDR rose 0.19% to 10610.35.

    The US Dollar Index Futures was up 0.19% at 96.73.

    Read more
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