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uBanker Blog

  • Forex – Dollar Rises Ahead of Fed Minutes

    Investing.com –  The dollar rose against the other major currencies in Asia on Wednesday morning, after climbing to a fresh new high this year on Monday. The warming trade relations between the U.S. and China helped revive risk appetite. Markets also eye the Federal Reserve’s minutes that will come on Thursday in Asia to look for cues for rate hikes.

    The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 93.62, up 0.12% at 11:36AM ET (03:36 GMT).  On Monday, the greenback climbed to another fresh high this year at 93.91, testing the 94 level.

    Apart from the easing trade relations between the world’s two biggest economies – the U.S. and China, the dollar was also supported by the continued rise of U.S. 10-year Treasury yields that hit 3% recently and expectations for interest rates.

    On the other hand, the much-awaited minutes from the Federal Reserve also drove the dollar higher in late morning in Asia. The Fed kept the interest rates unchanged on May 2, as what the markets expected. The Fed also expressed confidence that inflation could hit its 2% target. Investors will look for more hints for Fed’s future plan of hiking the interest rates.

    The USD/JPY pair lost 0.40% to 110.46. The strong momentum of the greenback has weighed on the safe-haven yen.

    Down under, the AUD/USD pair shed 0.46% at 0.7541. The Aussie was dragged lower by the local construction work data that came in weaker than expected. In the first quarter of this year, construction work done rose just 0.2% quarter-on-quarter compared to 1.3% expected and -18.3% from the fourth quarter of last year.

    In China, the People's Bank of China set the set the reference rate for the yuan against the dollar, the mid-point from which the currency is allowed to trade, at 6.3773 versus the previous day's 6.3799. The USD/CNY pair gained 0.10% to trade at 6.3729.

    Read more
  • Bitcoin Retreats Further as Fed's Kashkari Says Crypto Industry a 'Farce'

    Investing.com – Bitcoin extended its selloff on Tuesday as negative sentiment on cryptocurrencies continued after a Fed official claimed the industry was becoming a “farce.”

    Bitcoin fell 3.85% to $8,091.2 on the Bitfinex exchange from a high of $8,431.2

    The cryptocurrency industry has become a “farce” as the light-natured regulation of the industry, where barriers to creating a new cryptocurrency is “zero,” was attracting increased levels of fraudulent activity, said Minneapolis Federal Reserve President Neel Kashkari.

    Kashikari tempered his comments somewhat saying “there will probably be a shakeout, and maybe a handful of these things [cryptocurrencies] will end up surviving.”

    That added to renewed regulatory fears after the North American Securities Administrators Association (NASSA) unveiled “Operation Cryptosweep,” on Monday, according to a statement on the website of the Alabama Securities Commission.

    "The actions announced today are just the tip of the iceberg," Joseph Borg, head of the Alabama commission and current president of the NASAA, said in the statement.

    “Not every ICO or cryptocurrency-related investment is fraudulent, but we urge investors to approach any initial coin offering or cryptocurrency-related investment product with extreme caution.”

    The threat of a regulatory crackdown in cryptos has weighed on demand as data showed the total market cap of cryptocurrencies fell to about $367 billion, at the time of writing, down from about $380 billion on Monday.

    Falling demand for cryptos saw a sell off across mega-cap cryptocurrencies.

    Ripple XRP fell 3.38% to $0.65500 on the Poloniex exchange, while Ethereum fell 6.04% to $655.67.

    Bitcoin Cash fell 7.80% to $1,141.30, while Litecoin fell 4.30% to $129.49.

    Read more
  • U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.72%

    Investing.com – U.S. stocks were lower after the close on Tuesday, as losses in the Oil&Gas, Industrials and Basic Materials sectors led shares lower.

    At the close in NYSE, the Dow Jones Industrial Average lost 0.72%, while the S&P 500 index lost 0.31%, and the NASDAQ Composite index fell 0.21%.

    The best performers of the session on the Dow Jones Industrial Average were Verizon Communications Inc (NYSE:VZ), which rose 0.78% or 0.38 points to trade at 48.81 at the close. Meanwhile, JPMorgan Chase&Co (NYSE:JPM) added 0.77% or 0.86 points to end at 113.01 and American Express Company (NYSE:AXP) was up 0.65% or 0.66 points to 102.70 in late trade.

    The worst performers of the session were Boeing Co (NYSE:BA), which fell 2.45% or 8.90 points to trade at 355.02 at the close. Caterpillar Inc (NYSE:CAT) declined 1.71% or 2.72 points to end at 156.20 and DowDuPont Inc (NYSE:DWDP) was down 1.69% or 1.16 points to 67.47.

    The top performers on the S&P 500 were Micron Technology Inc (NASDAQ:MU) which rose 6.40% to 59.03, TJX Companies Inc (NYSE:TJX) which was up 3.25% to settle at 87.45 and Fifth Third Bancorp (NASDAQ:FITB) which gained 3.20% to close at 31.89.

    The worst performers were AutoZone Inc (NYSE:AZO) which was down 9.49% to 602.00 in late trade, Kohl’s Corporation (NYSE:KSS) which lost 7.42% to settle at 60.61 and Macy’s Inc (NYSE:M) which was down 4.31% to 33.12 at the close.

    The top performers on the NASDAQ Composite were Forward Pharma A S (NASDAQ:FWP) which rose 85.91% to 4.09, Clean Diesel Technologies Inc (NASDAQ:CDTI) which was up 64.30% to settle at 1.0200 and LM Funding America Inc (NASDAQ:LMFA) which gained 30.08% to close at 0.81.

    The worst performers were Adomani Inc (NASDAQ:ADOM) which was down 20.00% to 1.36 in late trade, Alliance MMA Inc (NASDAQ:AMMA) which lost 18.06% to settle at 0.50 and Ardelyx Inc (NASDAQ:ARDX) which was down 19.47% to 4.55 at the close.

    Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1869 to 1187 and 136 ended unchanged; on the Nasdaq Stock Exchange, 1481 fell and 1077 advanced, while 115 ended unchanged.

    Shares in TJX Companies Inc (NYSE:TJX) rose to all time highs; rising 3.25% or 2.75 to 87.45. Shares in American Express Company (NYSE:AXP) rose to all time highs; gaining 0.65% or 0.66 to 102.70.

    The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 0.84% to 13.19.

    Gold Futures for June delivery was down 0.01% or 0.10 to $1290.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.46% or 0.33 to hit $72.02 a barrel, while the July Brent oil contract rose 0.19% or 0.15 to trade at $79.37 a barrel.

    EUR/USD was down 0.08% to 1.1781, while USD/JPY fell 0.13% to 110.92.

    The US Dollar Index Futures was up 0.04% at 93.50.

    Read more
  • Canada stocks higher at close of trade; S&P/TSX Composite up 0.01%

    Investing.com – Canada stocks were higher after the close on Tuesday, as gains in the Healthcare, Financials and Telecoms sectors led shares higher.

    At the close in Toronto, the S&P/TSX Composite rose 0.01% to hit a new 3-months high.

    The best performers of the session on the S&P/TSX Composite were ProMetic Life Sciences Inc. (TO:PLI), which rose 10.96% or 0.080 points to trade at 0.810 at the close. Meanwhile, Canopy Growth Corp (TO:WEED) added 9.54% or 3.440 points to end at 39.480 and Eldorado Gold Corporation (TO:ELD) was up 9.30% or 0.12 points to 1.41 in late trade.

    The worst performers of the session were Cameco Corp (TO:CCO), which fell 6.96% or 1.02 points to trade at 13.63 at the close. Shopify Inc (TO:SHOP) declined 6.12% or 11.590 points to end at 177.660 and NovaGold Resources Inc (TO:NG) was down 5.95% or 0.37 points to 5.85.

    Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 626 to 507 and 113 ended unchanged.

    The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was up 0.84% to 12.07.

    Gold Futures for June delivery was down 0.01% or 0.10 to $1290.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.46% or 0.33 to hit $72.02 a barrel, while the July Brent oil contract rose 0.19% or 0.15 to trade at $79.37 a barrel.

    CAD/USD was down 0.22% to 0.7802, while CAD/EUR fell 0.14% to 0.6623.

    The US Dollar Index Futures was up 0.04% at 93.50.

    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. Manufacturing, Services Data, Fed Minutes Eyed

    While geopolitical uncertainty continues to dominate direction, the release of the Federal Reserve May meeting minutes and a slew of economic data is also expected to draw a reaction in markets.

    The Manufacturing Purchasing Managers' Index (PMI) at 9:45AM ET is expected show a preliminary reading of 56.6 for May, while the Services PMI is expected to show a reading for 54.9.

    The Commerce Department report on new home sales at 10:00AM ET is forecast to show a 2% decline to 680,000 units in March from 694,000 units in April.

    The Federal Reserve releases the minutes of its May meeting due at 2:00PM ET. Traders are expected to parse the minutes for signs that policymakers could be turning more hawkish on monetary policy tightening as inflation inches closer to the central bank's 2% target.

    The dollar traded roughly unchanged on Tuesday against a major basket of currencies after bouncing off session lows supported by a fall in EUR/USD and GBP/USD.

    2. US Crude Supplies to Fall for Third-Straight Week?

    Inventory data from the Energy Information Administration (EIA) on Wednesday is expected to show a third-straight weekly draw in U.S. crude stockpiles.

    Analysts forecast crude inventories fell by about 1.567 million barrels in the week ended May 19.

    The prospect of global supply disruptions amid looming sanctions on Iran and falling Venezuelan crude output continued to support oil prices.

    Crude oil futures settled 11 cents lower at $72.13 a barrel.

    3. Geopolitical Uncertainty in Focus

    U.S. stock markets sold off sharply on Wednesday as geopolitical uncertainty attracted a fresh wave of selling after President Donald Trump on Tuesday said he was not pleased with recent U.S.-China trade talks that took place last week and also raised doubts about whether the U.S.-North Korea summit would take place.

    Reports that Trump would seek to cut 10% of EU steel exports to the United States also added to trade war fears amid expectations a EU-U.S. trade war would be far reaching expanding over multiple industries.

    Germany’s economy minister Peter Altmaier warned a trade war with the US would not only be limited to steel and aluminium but to other categories of products like cars, textiles and food, according to the Financial Times.

    The Dow Jones Industrial Average fell 178.88 points, or 0.72%, to close at 24,834.41.

    Read more
  • Dollar off Lows as Sterling, Euro Resume Trend Lower

    Investing.com – The dollar moved off session lows as the euro reversed its earlier gains amid ongoing political uncertainty in Italy, while the pound resumed its downward trend adding to dollar strength.

    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.10% to 93.55.

    EUR/USD fell 0.16% to $1.7772, retreating from a session high of $1.1717 as market participants appeared to use the rally as a selling opportunity amid political uncertainty in Italy.

    “Political uncertainty in Italy, slowing growth in Europe, stronger growth in the US, and dollar friendly Treasury yields should continue to keep EUR/USD in sell-the-rally mode,” said Action Economics.

    A retreat in GBP/USD to $1.3430 from $1.3491 also supported the rebound in the greenback.

    The early-session rally in sterling arrived as Bank of England governor Mark Carney cited a more upbeat outlook on the UK economy while his colleague Gertjan Vlieghe predicted that the repo rate could be hiked by up to six times over the next three years.

    USD/JPY remained under pressure trading at Y110.99, down 0.07%, despite dovish guidance from both Bank of Japan Governor Haruhiko Kuroda and BoJ Deputy Governor Masazumi Wakatabe Tuesday.

    USD/CAD rose 0.19% to C$1.2812 as the rally in oil prices cooled, prompting traders to cut some of their Canadian dollar holdings, supporting a recovery in the pair from a low of C$1.2743.

    Read more
  • Portugal stocks higher at close of trade; PSI 20 up 0.65%

    Investing.com – Portugal stocks were higher after the close on Tuesday, as gains in the Consumer Goods, Basic Materials and Financials sectors led shares higher.

    At the close in Lisbon, the PSI 20 added 0.65% to hit a new 3-months high.

    The best performers of the session on the PSI 20 were Semapa (LS:SEM), which rose 4.42% or 0.9000 points to trade at 21.2500 at the close. Meanwhile, Corticeira Amorim (LS:CORA) added 4.00% or 0.460 points to end at 11.960 and Banco Comercial Portugues (LS:BCP) was up 1.88% or 0.0052 points to 0.2825 in late trade.

    The worst performers of the session were EDP (LS:EDP), which fell 1.03% or 0.0360 points to trade at 3.4500 at the close. CTT Correios de Portugal SA (LS:CTT) declined 0.87% or 0.0260 points to end at 2.9580 and EDP Renovaveis (LS:EDPR) was 0.00% or 0.0000 points to 8.2450.

    Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 17 to 10 and 12 ended unchanged.

    Shares in Semapa (LS:SEM) rose to all time highs; gaining 4.42% or 0.9000 to 21.2500. Shares in EDP Renovaveis (LS:EDPR) unchanged to all time highs; unchanged 0.00% or 0.0000 to 8.2450.

    Brent oil for July delivery was up 0.44% or 0.35 to $79.57 a barrel. Elsewhere in commodities trading, Crude oil for delivery in July fell 0.01% or 0.01 to hit $72.34 a barrel, while the June Gold Futures contract rose 0.16% or 2.10 to trade at $1293.00 a troy ounce.

    EUR/USD was down 0.06% to 1.1784, while EUR/GBP fell 0.10% to 0.8773.

    The US Dollar Index Futures was up 0.02% at 93.48.

    Read more
  • Denmark stocks higher at close of trade; OMX Copenhagen 20 up 0.39%

    Investing.com – Denmark stocks were higher after the close on Tuesday, as gains in the Industrials, Chemicals and Software&Computer Services sectors led shares higher.

    At the close in Copenhagen, the OMX Copenhagen 20 rose 0.39%.

    The best performers of the session on the OMX Copenhagen 20 were AP Moeller - Maersk A/S B (CO:MAERSKb), which rose 5.07% or 458 points to trade at 9496 at the close. Meanwhile, AP Moeller - Maersk A/S A (CO:MAERSKa) added 4.69% or 405 points to end at 9040 and FLSmidth&Co. (CO:FLS) was up 2.86% or 12.1 points to 435.0 in late trade.

    The worst performers of the session were Genmab (CO:GEN), which fell 2.80% or 35.5 points to trade at 1232.5 at the close. Lundbeck A/S (CO:LUN) declined 0.75% or 3.2 points to end at 423.2 and Oersted A/S (CO:ORSTED) was down 0.65% or 2.70 points to 413.10.

    Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 69 to 54 and 23 ended unchanged.

    Crude oil for July delivery was up 0.18% or 0.13 to $72.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.69% or 0.55 to hit $79.77 a barrel, while the June Gold Futures contract rose 0.18% or 2.30 to trade at $1293.20 a troy ounce.

    USD/DKK was up 0.05% to 6.3187, while EUR/DKK rose 0.02% to 7.4480.

    The US Dollar Index Futures was unchanged 0.00% at 93.46.

    Read more
  • Finland stocks higher at close of trade; OMX Helsinki 25 up 0.82%

    Investing.com – Finland stocks were higher after the close on Tuesday, as gains in the Utilities, Industrials and Telecoms sectors led shares higher.

    At the close in Helsinki, the OMX Helsinki 25 added 0.82% to hit a new all time high.

    The best performers of the session on the OMX Helsinki 25 were Outokumpu Oyj (HE:OUT1V), which rose 5.09% or 0.2960 points to trade at 6.1100 at the close. Meanwhile, Tieto Oyj (HE:TIETO) added 2.55% or 0.76 points to end at 30.58 and KONE Oyj (HE:KNEBV) was up 2.24% or 0.94 points to 42.92 in late trade.

    The worst performers of the session were Outotec Oyj (HE:OTE1V), which fell 1.61% or 0.136 points to trade at 8.302 at the close. Orion Oyj B (HE:ORNBV) declined 0.51% or 0.14 points to end at 27.27 and Cargotec Oyj (HE:CGCBV) was down 0.43% or 0.20 points to 45.94.

    Rising stocks outnumbered declining ones on the Helsinki Stock Exchange by 73 to 68 and 23 ended unchanged.

    Shares in Tieto Oyj (HE:TIETO) rose to 5-year highs; rising 2.55% or 0.76 to 30.58.

    Brent oil for July delivery was up 0.91% or 0.72 to $79.94 a barrel. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.32% or 0.23 to hit $72.58 a barrel, while the June Gold Futures contract rose 0.09% or 1.20 to trade at $1292.10 a troy ounce.

    EUR/USD was down 0.05% to 1.1785, while EUR/GBP fell 0.11% to 0.8772.

    The US Dollar Index Futures was up 0.01% at 93.47.

    Read more
  • Netherlands stocks higher at close of trade; AEX up 0.35%

    Investing.com – Netherlands stocks were higher after the close on Tuesday, as gains in the Telecoms, Basic Materials and Financials sectors led shares higher.

    At the close in Amsterdam, the AEX added 0.35% to hit a new 5-year high.

    The best performers of the session on the AEX were Altice NV (AS:ATCA), which rose 61.39% or 0.92 points to trade at 2.42 at the close. Meanwhile, ArcelorMittal SA (AS:MT) added 2.03% or 0.600 points to end at 30.115 and ABN AMRO Group NV (AS:ABNd) was up 1.87% or 0.45 points to 24.48 in late trade.

    The worst performers of the session were Galapagos NV (AS:GLPG), which fell 1.26% or 1.080 points to trade at 84.880 at the close. Koninklijke DSM NV (AS:DSMN) declined 0.87% or 0.78 points to end at 88.82 and Wolters Kluwer (AS:WLSNc) was down 0.43% or 0.20 points to 46.45.

    Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 66 to 51 and 15 ended unchanged.

    Shares in Altice NV (AS:ATCA) rose to all time lows; gaining 61.39% or 0.92 to 2.42.

    The AEX Volatility, which measures the implied volatility of AEX options, was down 2.06% to 11.56.

    Crude oil for July delivery was up 0.40% or 0.29 to $72.64 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.91% or 0.72 to hit $79.94 a barrel, while the June Gold Futures contract rose 0.10% or 1.30 to trade at $1292.20 a troy ounce.

    EUR/USD was down 0.04% to 1.1786, while EUR/GBP fell 0.11% to 0.8772.

    The US Dollar Index Futures was unchanged 0.00% at 93.46.

    Read more
  • Belgium stocks higher at close of trade; BEL 20 up 0.45%

    Investing.com – Belgium stocks were higher after the close on Tuesday, as gains in the Telecoms, Financials and Consumer Services sectors led shares higher.

    At the close in Brussels, the BEL 20 rose 0.45%.

    The best performers of the session on the BEL 20 were Ontex Group (BR:ONTEX), which rose 8.47% or 1.92 points to trade at 24.60 at the close. Meanwhile, Aperam SA (AS:APAM) added 2.52% or 1.04 points to end at 42.27 and KBC (BR:KBC) was up 2.03% or 1.440 points to 72.280 in late trade.

    The worst performers of the session were Etablissementen Fr Colruyt NV (BR:COLR), which fell 1.33% or 0.64 points to trade at 47.55 at the close. Galapagos NV (AS:GLPG) declined 1.26% or 1.080 points to end at 84.880 and Sofina (BR:SOF) was down 0.68% or 1.00 points to 146.60.

    Rising stocks outnumbered declining ones on the Brussels Stock Exchange by 63 to 59 and 15 ended unchanged.

    Gold Futures for June delivery was up 0.08% or 1.00 to $1291.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.25% or 0.18 to hit $72.53 a barrel, while the July Brent oil contract rose 0.81% or 0.64 to trade at $79.86 a barrel.

    EUR/USD was down 0.07% to 1.1783, while EUR/GBP fell 0.14% to 0.8770.

    The US Dollar Index Futures was up 0.01% at 93.47.

    Read more
  • Poland stocks lower at close of trade; WIG30 down 0.64%

    Investing.com – Poland stocks were lower after the close on Tuesday, as losses in the Oil&Gas, Telecoms and Energy sectors led shares lower.

    At the close in Warsaw, the WIG30 declined 0.64%.

    The best performers of the session on the WIG30 were Bank Millennium SA (WA:MILP), which rose 2.70% or 0.22 points to trade at 8.37 at the close. Meanwhile, Kernel Holding SA (WA:KER) added 2.22% or 1.20 points to end at 55.20 and Jastrzebska Spotka Weglowa SA (WA:JSW) was up 0.93% or 0.80 points to 87.20 in late trade.

    The worst performers of the session were OrangePL (WA:OPL), which fell 2.71% or 0.14 points to trade at 5.02 at the close. Grupa Lotos SA (WA:LTSP) declined 2.63% or 1.50 points to end at 55.60 and Polski Koncern Naftowy ORLEN SA (WA:PKN) was down 2.56% or 2.20 points to 83.72.

    Falling stocks outnumbered advancing ones on the Warsaw Stock Exchange by 250 to 195 and 192 ended unchanged.

    Crude oil for July delivery was up 0.55% or 0.40 to $72.75 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 1.27% or 1.01 to hit $80.23 a barrel, while the June Gold Futures contract rose 0.09% or 1.10 to trade at $1292.00 a troy ounce.

    EUR/PLN was down 0.19% to 4.2835, while USD/PLN fell 0.15% to 3.6343.

    The US Dollar Index Futures was down 0.02% at 93.44.

    Read more
  • Norway stocks lower at close of trade; Oslo OBX down 0.53%

    Investing.com – Norway stocks were lower after the close on Tuesday, as losses in the Food, Beverages&Tobacco, Technology Hardware&Equipment and Energy sectors led shares lower.

    At the close in Oslo, the Oslo OBX declined 0.53%.

    The best performers of the session on the Oslo OBX were Norwegian Air Shuttle ASA (OL:NWC), which rose 9.18% or 23.00 points to trade at 273.50 at the close. Meanwhile, Golden Ocean Group Ltd (OL:GOGLT) added 4.07% or 2.70 points to end at 69.00 and BW LPG Ltd (OL:BWLPG) was up 2.88% or 0.86 points to 30.71 in late trade.

    The worst performers of the session were Grieg Seafood (OL:GSFO), which fell 10.07% or 10.30 points to trade at 92.00 at the close. SalMar ASA (OL:SALM) declined 5.53% or 20.60 points to end at 352.90 and Leroy Seafood Group ASA (OL:LSG) was down 3.16% or 1.8 points to 55.7.

    Rising stocks outnumbered declining ones on the Oslo Stock Exchange by 94 to 82 and 26 ended unchanged.

    Crude oil for July delivery was up 0.70% or 0.51 to $72.86 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 1.46% or 1.16 to hit $80.38 a barrel, while the June Gold Futures contract rose 0.08% or 1.00 to trade at $1291.90 a troy ounce.

    EUR/NOK was down 0.20% to 9.4729, while USD/NOK fell 0.13% to 8.0394.

    The US Dollar Index Futures was unchanged 0.00% at 93.46.

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

    Investing.com – Sweden stocks were lower after the close on Tuesday, as losses in the Oil&Gas, Technology and Telecoms 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 Nordea Bank AB (ST:NDA), which rose 2.09% or 1.84 points to trade at 89.80 at the close. Meanwhile, SSAB AB ser. A (ST:SSABa) added 2.07% or 1.04 points to end at 51.30 and Skandinaviska Enskilda Banken AB A (ST:SEBa) was up 1.14% or 0.96 points to 85.16 in late trade.

    The worst performers of the session were Tele2 AB (ST:TEL2b), which fell 3.65% or 4.15 points to trade at 109.40 at the close. Telefonaktiebolaget LM Ericsson Class B (ST:ERICb) declined 1.64% or 1.11 points to end at 66.53 and Getinge AB ser. B (ST:GETIb) was down 1.62% or 1.4 points to 85.1.

    Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 339 to 265 and 72 ended unchanged.

    Crude oil for July delivery was up 0.70% or 0.51 to $72.86 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 1.46% or 1.16 to hit $80.38 a barrel, while the June Gold Futures contract rose 0.07% or 0.90 to trade at $1291.80 a troy ounce.

    EUR/SEK was down 0.07% to 10.2183, while USD/SEK fell 0.00% to 8.6723.

    The US Dollar Index Futures was unchanged 0.00% at 93.46.

    Read more
  • Goldman Sachs: Play 'High Revenue' Growth Stocks

    Investing.com - Go for "high revenue growth" companies, if you want to beat what looks to be a lackluster performance for stocks in the coming year.
    So says Goldman Sachs (NYSE:GS).
    In a note to the clients, the firm highlighted a group of companies with estimated sales growth of more than 20% in 2019.
    Goldman says its previous list of such companies outperformed the S&P 500 by 8% over the past 12 months.
    This year's list includes some high-flying, old favorites, such as Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB) and Netflix (NASDAQ:NFLX).
    Lesser-known companies on the list include Autodesk (NASDAQ:ADSK) and Vertex Pharmaceuticals (NASDAQ:VRTX).
    Goldman's end-of-year price target for the S&P 500 is 2,850. That's slightly less than the index's January high and one of the more conservative forecasts among Wall Street firms.

    Read more
  • Israel stocks lower at close of trade; TA 35 down 0.54%

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

    At the close in Tel Aviv, the TA 35 fell 0.54%.

    The best performers of the session on the TA 35 were Harel (TA:HARL), which rose 2.00% or 55 points to trade at 2800 at the close. Meanwhile, Big Shopping Centers Ltd (TA:BIG) added 1.58% or 370 points to end at 23730 and Isramco Negev 2 LP (TA:ISRAp) was up 1.18% or 0.5 points to 42.7 in late trade.

    The worst performers of the session were OPKO Health Inc (TA:OPK), which fell 8.29% or 121 points to trade at 1338 at the close. Bazan Oil Refineries Ltd (TA:ORL) declined 1.85% or 3.0 points to end at 159.0 and Paz Oil (TA:PZOL) was down 1.67% or 880 points to 51840.

    Falling stocks outnumbered advancing ones on the Tel Aviv Stock Exchange by 231 to 170 and 20 ended unchanged.

    Crude oil for July delivery was up 0.66% or 0.48 to $72.83 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 1.57% or 1.24 to hit $80.46 a barrel, while the June Gold Futures contract rose 0.05% or 0.70 to trade at $1291.60 a troy ounce.

    USD/ILS was down 0.38% to 3.5618, while EUR/ILS fell 0.51% to 4.1943.

    The US Dollar Index Futures was up 0.04% at 93.50.

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  • Stocks- Wall Street Continues to Rise on U.S., China Trade Talks

    Investing.com – Wall Street continued its rally on Tuesday, as the U.S. and China made progress on trade talks.

    The S&P 500 was up six points or 0.24% to 2,739.53 as of 9:40 AM ET (13:40 GMT) while the Dow composite increased over 23 points or 0.09% to 25,036.50 and tech heavy NASDAQ Composite rose 33 points or 0.46% to 7,427.81.

    China said Tuesday it would cut import tariffs for automobiles and some car parts starting on July 1. Tariffs would be lowered to 15% from the current 20% to 25%, while tariffs on auto parts would be cut to 6%.

    High tariffs on automobiles had been one of the complaints of the U.S. administration. The two countries are working towards a trade agreement, with the trade war between the U.S. and China currently “on hold,” U.S. Treasury Secretary Steven Mnuchin said on Sunday.

    Meanwhile the U.S. is nearly a deal to lift a ban on U.S. firms supplying telecoms firm ZTE (HK:0763).

    Technology stocks were among the biggest gainers after the morning bell. Apple (NASDAQ:AAPL) was up 0.56% while Tesla (NASDAQ:TSLA) inched up 0.09% and Facebook (NASDAQ:FB) gained 0.23%. Meanwhile Micron Technology Inc (NASDAQ:MU) surged 6.43% while Walt Disney Company (NYSE:DIS) increased 1.00%

    Elsewhere retail firm Kohl’s Corporation (NYSE:KSS) was down 2.30% despite reporting a higher than expected earnings, while JC Penney Company Inc Holding (NYSE:JCP) fell 3.80%. Sony Corp ADR (NYSE:SNE) was down 1.49% after news that it was buying out EMI Music Publishing.

    In Europe stocks were up. Germany’s DAX rose 112 points or 0.86% while in France the CAC 40 increased seven points or 0.13% and in London, the FTSE 100 was up 22 points or 0.29%. Meanwhile the pan-European Euro Stoxx 50 gained 15 points or 0.44% while Spain’s IBEX 35 surged 62 points or 0.62%.

    In commodities, gold futures rose 0.19% to $1,293.30 a troy ounce while crude oil futures increased 0.10% to $72.42 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.03% to 93.43.

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  • Cryptos Lower; Mining Company Launches $2 Billion IPO

    Investing.com - Cryptocurrencies were lower on Tuesday, with Bitcoin nearing the $8,000 mark, not far from last week’s low of $7,972.40.

    Bitcoin was trading at $8,201.10, falling 3.45% as of 8:20 AM ET (12:20 GMT) on the Bitfinex exchange.

    Despite the decrease in digital asset values, the second largest Bitcoin mining firm has announced plans to raise $2 billion in an initial public offering in July. It would be the biggest bitcoin focused IPO so far.

    Canaan Inc, a cryptocurrency mining rig firm, is planning to raise the money not as a bitcoin firm, but as a chip designer with focus on blockchain and artificial intelligence, Reuters reported on Tuesday. The Beijing-based company was given regulator approval last month, despite a cryptocurrency mining crackdown in China.

    As the price and interest in virtual currencies grew, demand for digital token mining gear rose but with Bitcoin prices down 40% this year, interest in mining has fallen.

    Still, Canaan’s revenue grew by 3% year-on-year, with 1.3 billion yuan (around $204 million) in revenue in 2017.

    The price of other digital coins fell on Tuesday, with Ethereum, the world’s second largest cryptocurrency by market cap, down 3.98% to $682.90 on the Bitfinex exchange. Ripple, the third largest virtual currency, decreased 3.98% to $0.66055 while Litecoin was at $132.21, a slump of 2.98%.

    In other news, global investment firm eToro is expanding its cryptocurrency offerings and is planning to launch an exchange and digital wallet, including into the U.S. The social investing site already offers 10 virtual currencies and is planning to add more.

    Meanwhile, cryptocurrencies are becoming political in the U.S., which could impact the future of digital currencies. In California, Republican Congressional candiate Brian Forde has raised nearly $100,000 in virtual currency donations. As the former head of MIT's Digitual Currency Initiative, he is thought to be a supporter of digital currencies and plans to use blockchain technology to record constituents policy preferences. Across the country, bitcoin supporter Manny Alicandro announced in early May that he is running on the GOP ticket for New York Attorney General.

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  • Norway's Central Bank Weighing Digital Currency

    Investing.com - Norway's central bank says a decline in the use of cash has it considering whether it should create a digital currency.
    According to a report by the bank, the currency could serve three functions: as a reliable alternative to deposits at private banks; legal tender as a supplement to cash; and as an independent backup solution to electronic payment systems.
    Though a digital currency has appeal, the bank stressed that it should not interfere with the ability of the bank and other financial institutions to provide credit.
    The central bank report says authorities are only in the initial stage of studying the possibility of a digital currency, but they have yet to identify any issues that would rule it out.
    Sweden and China are both studying the introduction of a central bank digital currency. Japan's central bank recently rejected the idea.

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  • Stocks- U.S. Futures Continue Rally as China Cuts Vehicle Import Tariffs

    Investing.com – Wall Street looked set to continue its rally on Tuesday, as trade war worries between the U.S. and China eased.

    The S&P 500 futures was up three points or 0.13% to 2,736.50 as of 6:44 AM ET (10:44 GMT) while Dow futures increased 41 points or 0.16% to 25,043.0. Meanwhile tech heavy Nasdaq 100 futures rose 22 points or 0.32% to 6,938.00.

    China said Tuesday it would cut import tariffs for automobiles and some car parts starting on July 1. Tariffs would be lowered to 15% from the current 20% to 25%, while tariffs on auto parts would be cut to 6%.

    High tariffs on automobiles had been one of the complaints of the U.S. administration. The two countries are working towards a trade agreement, with the trade war between the U.S. and China currently “on hold,” U.S. Treasury Secretary Steven Mnuchin said on Sunday.

    Meanwhile investors will be looking to the last big financial reports as earnings season continues to wind down on Tuesday. The last big retailers Kohl’s Corporation (NYSE:KSS) and TJX Companies Inc (NYSE:TJX) are expected to report ahead of the morning bell, with reports from AutoZone (NYSE:AZO), HP Inc (NYSE:HPQ) and others also expected later in the day.

    General Electric (NYSE:GE) was among the top gainers in pre-market trading, rising 1.38% while Micron Technology Inc (NASDAQ:MU) was up 4.54% and Chinese e-commerce giant Alibaba (NYSE:BABA) inched up 0.58%.

    Elsewhere Nokia (HE:NOKIA) Corp ADR (NYSE:NOK) (HE:NOKIA) dipped 1.28% while Seadrill Limited (NYSE:SDRL) fell 9.26%.

    In Europe stocks were mostly up. Germany’s DAX rose 12 points or 0.10% while in France the CAC 40 decreased five points or 0.07% and in London, the FTSE 100 was up 11 points or 0.15%. Meanwhile the pan-European Euro Stoxx 50 gained three points or 0.10% while Spain’s IBEX 35 rallied 57 points or 0.57%.

    In commodities, gold futures rose 0.22% to $1,293.70 a troy ounce while crude oil futures increased 0.25% to $72.53 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.17% to 93.30.

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  • Indonesia stocks higher at close of trade; IDX Composite Index up 0.30%

    Investing.com – Indonesia stocks were higher after the close on Tuesday, as gains in the Miscellaneous Industry, Manufacturing and Basic Industry sectors led shares higher.

    At the close in Jakarta, the IDX Composite Index gained 0.30%.

    The best performers of the session on the IDX Composite Index were Mitra Investindo Tbk (JK:MITI), which rose 34.65% or 35 points to trade at 136 at the close. Meanwhile, Eterindo Wahanatama Tbk (JK:ETWA) added 33.78% or 25 points to end at 99 and Multi Prima Sejahtera Tbk (JK:LPIN) was up 20.88% or 190 points to 1100 in late trade.

    The worst performers of the session were Steady Safe TBK PT (JK:SAFE), which fell 19.23% or 50 points to trade at 210 at the close. Visi Telekomunikasi Infrastruktur Tbk PT (JK:GOLD) declined 10.29% or 50 points to end at 436 and Pembangunan Jaya Ancol Tbk (JK:PJAA) was down 10.00% or 140 points to 1260.

    Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 196 to 180 and 113 ended unchanged.

    Shares in Mitra Investindo Tbk (JK:MITI) rose to 3-years highs; rising 34.65% or 35 to 136.

    Crude oil for July delivery was up 0.36% or 0.26 to $72.61 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.58% or 0.46 to hit $79.68 a barrel, while the June Gold Futures contract rose 0.26% or 3.40 to trade at $1294.30 a troy ounce.

    USD/IDR was down 0.76% to 14128.8, while AUD/IDR rose 0.13% to 10712.00.

    The US Dollar Index Futures was down 0.22% at 93.25.

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  • Philippines stocks lower at close of trade; PSEi Composite down 0.15%

    Investing.com – Philippines stocks were lower after the close on Tuesday, as losses in the Mining&Oil, Banking&Financials and Property sectors led shares lower.

    At the close in Philippines, the PSEi Composite lost 0.15%.

    The best performers of the session on the PSEi Composite were Manila Electric Co (PS:MER), which rose 2.31% or 7.40 points to trade at 328.40 at the close. Meanwhile, Megaworld Corp (PS:MEG) added 1.96% or 0.090 points to end at 4.680 and Ayala Corp (PS:AC) was up 1.49% or 14.00 points to 954.00 in late trade.

    The worst performers of the session were Semirara Mining Corp (PS:SCC), which fell 3.04% or 0.90 points to trade at 28.75 at the close. Metro Pacific Investments Corp (PS:MPI) declined 2.06% or 0.100 points to end at 4.750 and GT Capital Holdings Inc (PS:GTCAP) was down 1.97% or 20.00 points to 995.00.

    Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 109 to 79 and 44 ended unchanged.

    Gold Futures for June delivery was up 0.19% or 2.40 to $1293.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.44% or 0.32 to hit $72.67 a barrel, while the July Brent oil contract rose 0.67% or 0.53 to trade at $79.75 a barrel.

    CNY/PHP was up 0.16% to 8.2123, while USD/PHP fell 0.08% to 52.305.

    The US Dollar Index Futures was down 0.19% at 93.28.

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  • Gold Prices Edge Higher But Stay Near Yearly Lows

    Investing.com - Gold prices were little changed in early dealings on Tuesday, hovering not far off a 2018 low struck in the previous session, as improved appetite for riskier assets sapped demand for the yellow metal.

    Comex gold futures were up around 0.1% at $1,291.30 a troy ounce by 4:10AM ET (0810GMT). In the previous session, it slid to as low as $1,281.20, its weakest level since December 27.

    Gold's losses on Monday came after a truce between the United States and China calmed fears that a trade war might be imminent.

    Washington and Beijing both claimed victory on Monday as the world's two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost U.S. exports to China.

    That news boosted U.S. equities and Treasury yields, underpinning the dollar as a result and weighing on gold.

    Looking ahead, the market is awaiting the minutes of the Federal Reserve's last policy meeting due to be released on Wednesday.

    Expectations that the U.S. central bank will lift U.S. interest rates again next month have added to recent downward pressure on gold.

    Higher U.S. rates tend to boost the dollar and push bond yields up, make non-yielding assets like bullion less attractive.

    Among other precious metals, silver and palladium were both slightly higher at $16.59 an ounce and $991.30 an ounce, respectively.

    Platinum rose 0.4% at $903.30 an ounce, after marking a fresh low for the year in the previous session at $873.50.

    Meanwhile, copper rose 0.9% to $3.126 a pound on renewed optimism about global growth after the U.S./China agreement.

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  • Oil Prices Hold Near 2014 Highs Amid Global Supply Jitters

    Investing.com - Oil prices edged higher on Tuesday, staying near their strongest levels in three-and-a-half-years as investors fretted over the future output from Venezuela and Iran.

    New York-traded WTI crude futures tacked on 35 cents, or roughly 0.5%, to $72.70 a barrel by 3:40AM ET (0740GMT), a level last seen in November 2014.

    Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., ticked up 53 cents, or about 0.7%, to $79.75 a barrel, not far from recent highs of $80.50 scaled last week.

    Oil prices rallied on Monday over concerns that the U.S. will impose new sanctions on Venezuela after President Nicolas Maduro won a second six-year term in a weekend vote his critics denounced as a farce cementing autocracy in the crisis-stricken oil producer.

    Venezuela's oil output has already dropped by a third in two years to its lowest level in decades.

    Concerns that looming U.S. sanctions on Iran will curb that country's crude exports also boosted prices.

    The White House laid out new demands for Iran on Monday, which said any new nuclear deal with the U.S. would require Iran to stop enriching uranium and to pull its support for militant groups in the Middle East.

    Iran is a major Middle East oil producer and member of the Organization of the Petroleum Exporting Countries (OPEC).

    Oil market participants now looked ahead to fresh weekly data on U.S. commercial crude inventories to gauge the strength of demand in the world’s largest oil consumer.

    Industry group the American Petroleum Institute is due to release its weekly report at 4:30PM ET (2030GMT). Official data from the Energy Information Administration will be released Wednesday, amid forecasts for an oil-stock drop of around 2.8 million barrels.

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  • China stocks higher at close of trade; Shanghai Composite up 0.02%

    Investing.com – China stocks were higher after the close on Tuesday, as gains in the Oil Equipment Services&Distribution, Gas, Water&Multiutilities and Retailers sectors led shares higher.

    At the close in Shanghai, the Shanghai Composite added 0.02% to hit a new 1-month high, while the SZSE Component index climbed 0.00%.

    The best performers of the session on the Shanghai Composite were Suzhou Douson Drilling&Production Equipment Co Ltd (SS:603800), which rose 10.02% or 1.820 points to trade at 19.990 at the close. Meanwhile, Chahua Modern Housewares Co Ltd (SS:603615) added 10.01% or 1.32 points to end at 14.51 and GuangDong Super Telecom Co Ltd (SS:603322) was up 10.00% or 3.210 points to 35.320 in late trade.

    The worst performers of the session were Qian Jiang Water Resources Development Co Ltd (SS:600283), which fell 5.63% or 0.770 points to trade at 12.900 at the close. Future Land Holdings Co Ltd (SS:601155) declined 4.78% or 1.530 points to end at 30.470 and Poly Real Estate Group Co Ltd (SS:600048) was down 3.93% or 0.540 points to 13.210.

    The top performers on the SZSE Component were Harbin Gloria Pharmaceuticals (SZ:002437) which rose 10.02% to 6.26, Shaanxi J&R Fire Protection Co Ltd (SZ:300116) which was up 7.49% to settle at 4.02 and Fujian Sunner Development Co Ltd (SZ:002299) which gained 6.70% to close at 16.56.

    The worst performers were Focused Photonics Hangzhou Inc (SZ:300203) which was down 4.44% to 26.26 in late trade, Goldleaf Jewelry Co Ltd (SZ:000587) which lost 3.57% to settle at 7.02 and Shenzhen Shenxin Taifeng Group Co Ltd (SZ:000034) which was down 3.48% to 22.22 at the close.

    Rising stocks outnumbered declining ones on the Shanghai Stock Exchange by 714 to 583 and 83 ended unchanged.

    The CBOE China Etf Volatility, which measures the implied volatility of Shanghai Composite options, was unchanged 0.00% to 20.68.

    Gold Futures for June delivery was down 0.04% or 0.50 to $1290.40 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.51% or 0.37 to hit $72.72 a barrel, while the July Brent oil contract rose 0.74% or 0.59 to trade at $79.81 a barrel.

    USD/CNY was down 0.13% to 6.3745, while EUR/CNY fell 0.13% to 7.5160.

    The US Dollar Index Futures was down 0.09% at 93.38.

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  • Australia stocks lower at close of trade; S&P/ASX 200 down 0.71%

    Investing.com – Australia stocks were lower after the close on Tuesday, as losses in the IT, Telecoms Services and Gold sectors led shares lower.

    At the close in Sydney, the S&P/ASX 200 declined 0.71%.

    The best performers of the session on the S&P/ASX 200 were James Hardie Industries PLC (AX:JHX), which rose 4.01% or 0.900 points to trade at 23.350 at the close. Meanwhile, Blackmores Ltd (AX:BKL) added 2.10% or 2.62 points to end at 127.62 and Asaleo Care (AX:AHY) was up 2.22% or 0.030 points to 1.380 in late trade.

    The worst performers of the session were Altium Ltd (AX:ALU), which fell 7.48% or 1.710 points to trade at 21.160 at the close. Technology One Ltd (AX:TNE) declined 6.06% or 0.300 points to end at 4.650 and G8 Education Ltd (AX:GEM) was down 4.32% or 0.115 points to 2.545.

    Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 757 to 485 and 368 ended unchanged.

    The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was up 13.18% to 13.466 a new 1-month high.

    Gold Futures for June delivery was down 0.02% or 0.30 to $1290.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 0.36% or 0.26 to hit $72.61 a barrel, while the July Brent oil contract rose 0.32% or 0.25 to trade at $79.47 a barrel.

    AUD/USD was up 0.12% to 0.7590, while AUD/JPY rose 0.01% to 84.20.

    The US Dollar Index Futures was down 0.02% at 93.44.

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  • U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.21%

    Investing.com – U.S. stocks were higher after the close on Monday, as gains in the Telecoms, Industrials and Oil&Gas sectors led shares higher.

    At the close in NYSE, the Dow Jones Industrial Average rose 1.21% to hit a new 1-month high, while the S&P 500 index gained 0.74%, and the NASDAQ Composite index added 0.54%.

    The best performers of the session on the Dow Jones Industrial Average were Boeing Co (NYSE:BA), which rose 3.61% or 12.69 points to trade at 363.92 at the close. Meanwhile, United Technologies Corporation (NYSE:UTX) added 2.28% or 2.86 points to end at 128.05 and Caterpillar Inc (NYSE:CAT) was up 2.06% or 3.21 points to 158.92 in late trade.

    The worst performers of the session were Merck&Company Inc (NYSE:MRK), which fell 0.96% or 0.57 points to trade at 58.57 at the close. Johnson&Johnson (NYSE:JNJ) declined 0.42% or 0.52 points to end at 123.72 and Nike Inc (NYSE:NKE) was up 0.08% or 0.06 points to 71.38.

    The top performers on the S&P 500 were Chesapeake Energy Corporation (NYSE:CHK) which rose 13.55% to 4.610, Range Resources Corporation (NYSE:RRC) which was up 6.00% to settle at 16.08 and Kimco Realty Corporation (NYSE:KIM) which gained 4.20% to close at 14.64.

    The worst performers were Fifth Third Bancorp (NASDAQ:FITB) which was down 7.93% to 30.90 in late trade, Celgene Corporation (NASDAQ:CELG) which lost 4.70% to settle at 74.69 and Symantec Corporation (NASDAQ:SYMC) which was down 2.70% to 21.59 at the close.

    The top performers on the NASDAQ Composite were SenesTech Inc (NASDAQ:SNES) which rose 296.07% to 1.25, Alliance MMA Inc (NASDAQ:AMMA) which was up 65.63% to settle at 0.62 and Adomani Inc (NASDAQ:ADOM) which gained 51.79% to close at 1.70.

    The worst performers were MabVax Therapeutics Holdings Inc (NASDAQ:MBVX) which was down 23.16% to 1.360 in late trade, Sesen Bio Inc (NASDAQ:SESN) which lost 23.00% to settle at 2.3100 and Carver Bancorp Inc (NASDAQ:CARV) which was down 18.51% to 6.780 at the close.

    Rising stocks outnumbered declining ones on the New York Stock Exchange by 2149 to 932 and 112 ended unchanged; on the Nasdaq Stock Exchange, 1498 rose and 1068 declined, while 104 ended unchanged.

    Shares in Celgene Corporation (NASDAQ:CELG) fell to 3-years lows; down 4.70% or 3.68 to 74.69. Shares in Nike Inc (NYSE:NKE) rose to all time highs; gaining 0.08% or 0.06 to 71.38.

    The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 2.38% to 13.10.

    Gold Futures for June delivery was up 0.07% or 0.90 to $1292.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 1.70% or 1.21 to hit $72.58 a barrel, while the July Brent oil contract rose 1.18% or 0.93 to trade at $79.44 a barrel.

    EUR/USD was up 0.17% to 1.1791, while USD/JPY rose 0.23% to 111.02.

    The US Dollar Index Futures was down 0.15% at 93.44.

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  • Canada stocks higher at close of trade; S&P/TSX Composite up 0.12%

    Investing.com – Canada stocks were higher after the close on Monday, as gains in the Healthcare, IT and Clean Technology sectors led shares higher.

    At the close in Toronto, the S&P/TSX Composite gained 0.12% to hit a new 3-months high.

    The best performers of the session on the S&P/TSX Composite were Aurora Cannabis Inc (TO:ACB), which rose 9.72% or 0.700 points to trade at 7.900 at the close. Meanwhile, Canopy Growth Corp (TO:WEED) added 8.72% or 2.890 points to end at 36.030 and Torex Gold Resources Inc (TO:TXG) was up 3.90% or 0.500 points to 13.320 in late trade.

    The worst performers of the session were Labrador Iron Ore Royalty Corp (TO:LIF), which fell 3.07% or 0.67 points to trade at 21.15 at the close. Element Fleet Management Corp (TO:EFN) declined 2.51% or 0.15 points to end at 5.82 and Trican Well Service Ltd . (TO:TCW) was down 2.31% or 0.080 points to 3.380.

    Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 0 to 0.

    The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 1.07% to 11.97 a new 1-month low.

    Gold Futures for June delivery was up 0.08% or 1.00 to $1292.30 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in July rose 1.67% or 1.19 to hit $72.56 a barrel, while the July Brent oil contract rose 1.18% or 0.93 to trade at $79.44 a barrel.

    CAD/USD was up 0.72% to 0.7818, while CAD/EUR rose 0.59% to 0.6632.

    The US Dollar Index Futures was down 0.14% at 93.45.

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  • Colombia stocks lower at close of trade; COLCAP down 0.25%

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

    At the close in Colombia, the COLCAP fell 0.25% to hit a new 1-month low.

    The best performers of the session on the COLCAP were Cemargos (CN:CCB), which rose 2.07% or 180.0 points to trade at 8880.0 at the close. Meanwhile, Corporacion Financiera Colombiana SA (CN:CFV) added 2.24% or 520.0 points to end at 23780.0 and Etb (CN:ETB) was up 1.82% or 7.0 points to 392.0 in late trade.

    The worst performers of the session were Cemex Latam Holdings SA (CN:CLH), which fell 3.50% or 300.0 points to trade at 8260.0 at the close. Canacol Energy Ltd (CN:CNE) declined 0.32% or 30.0 points to end at 9390.0 and Bancolombia Pf (CN:BIC_p1) was down 0.55% or 180.0 points to 32620.0.

    Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 15 to 11 and 6 ended unchanged.

    US coffee C for July delivery was up 1.66% or 1.96 to $120.08 . Elsewhere in commodities trading, US cocoa for delivery in July fell 2.08% or 55.50 to hit $2616.00 , while the June Gold Futures contract rose 0.05% or 0.60 to trade at $1291.90 a troy ounce.

    USD/COP was down 1.50% to 2877.50, while BRL/COP fell 0.03% to 781.44.

    The US Dollar Index Futures was down 0.12% at 93.47.

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  • Crude Oil Prices Settle Higher Amid Rising Geopolitical Uncertainty

    Investing.com – WTI crude oil prices settled higher on Monday as geopolitical uncertainty rose after weekend elections in Venezuela viewed as illegitimate raised the prospect of US sanctions on the country’s exports.

    On the New York Mercantile Exchange crude futures for July delivery rose 1.4% to settle at $72.24 a barrel, while on London's Intercontinental Exchange, Brent gained 1.06% to trade at $79.36 a barrel.

    Venezuela’s Nicolas Maduro risked further pressure from the International community as his re-election win on Sunday, raised the prospect of US sanctions on the Venezuela, which would further batter the country’s beleaguered energy industry.

    Ahead of U.S. sanctions on Iran, meanwhile, U.S. Secretary of State Mike Pompeo threatened even tougher sanctions against the Islamic Republic. Pompeo claimed the sanctions would be the “strongest in history when complete.”

    The prospect for a disruption to global oil supplies is expected to increase the pace of rebalancing in the oil market, prompting analysts to raise their forecast for oil prices.

    Citigroup raised its base-case oil-price forecast by $10 a barrel in 2018, up to $75 barrel annual average and said oil prices would continue to trend higher through 2018.

    "Our expectation for balancing, from a market currently in deficit, has been pushed to the second quarter of 2019 from the third quarter of 2018 period we expected previously," Citigroup said.

    The bank sees Venezuelan production likely falling below 1 million barrels per day before the end of the year. Output in Venezuela has dropped by a third in two years to its lowest in decades, according to Reuters.

    Traders, continued, however, to take profits on the recent rally in oil prices as data showed they cut their bullish bets on crude oil for the fourth straight week.

    CFTC COT data showed money managers reduced their net long positions in crude futures to 644,400 lots from 679,900 lots for the week ended May 16.

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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum. It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using 'Content here, content here', making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for 'lorem ipsum' will uncover many web sites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose (injected humour and the like). Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32. The standard chunk of Lorem Ipsum used since the 1500s is reproduced below for those interested. Sections 1.10.32 and 1.10.33 from "de Finibus Bonorum et Malorum" by Cicero are also reproduced in their exact original form, accompanied by English versions from the 1914 translation by H. Rackham. There are many variations of passages of Lorem Ipsum available, but the majority have suffered alteration in some form, by injected humour, or randomised words which don't look even slightly believable. If you are going to use a passage of Lorem Ipsum, you need to be sure there isn't anything embarrassing hidden in the middle of text. All the Lorem Ipsum generators on the Internet tend to repeat predefined chunks as necessary, making this the first true generator on the Internet. It uses a dictionary of over 200 Latin words, combined with a handful of model sentence structures, to generate Lorem Ipsum which looks reasonable. The generated Lorem Ipsum is therefore always free from repetition, injected humour, or non-characteristic words etc.