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uBanker Blog

  • Cardano Climbs 10% As Investors Gain Confidence

    Investing.com - Cardano was trading at $0.057524 by 14:37 (18:37 GMT) on the Investing.com Index on Wednesday, up 10.17% on the day. It was the largest one-day percentage gain since July 17.

    The move upwards pushed Cardano's market cap up to $1.48714B, or 0.56% of the total cryptocurrency market cap. At its highest, Cardano's market cap was $23.91700B.

    Cardano had traded in a range of $0.050014 to $0.057748 in the previous twenty-four hours.

    Over the past seven days, Cardano has seen a drop in value, as it lost 21.2%. The volume of Cardano traded in the twenty-four hours to time of writing was $107.86510M or 0.13% of the total volume of all cryptocurrencies. It has traded in a range of $0.0500 to $0.0718 in the past 7 days.

    At its current price, Cardano is still down 95.74% from its all-time high of $1.35 set on January 4, 2018.

    Elsewhere in cryptocurrency trading

    Bitcoin was last at $9,851.9 on the Investing.com Index, up 2.58% on the day.

    Ethereum was trading at $216.77 on the Investing.com Index, a gain of 8.45%.

    Bitcoin's market cap was last at $174.81982B or 65.33% of the total cryptocurrency market cap, while Ethereum's market cap totaled $23.00587B or 8.60% of the total cryptocurrency market value.

    Read more
  • Oil Slumps as U.S. Fuel Build Neuters Crude Draw

    By Barani Krishnan

    Investing.com - A larger-than-expected drop in U.S. crude stockpiles during Hurricane Barry hasn’t helped oil bulls, as fuel balances were even higher in that week, dealing a stunning blow to implied demand.

    Crude prices fell for a second day in a row on Wednesday as the U.S. Energy Information Administration reported a gasoline stockpile build nearly 4 times higher than expected and a gasoline balance more than 9 times the forecast during the week ended July 12.

    U.S. West Texas Intermediate crude was down 75 cents, or 1.3%, at $56.87 per barrel by 2:24 PM ET (18:24 GMT).

    London-traded Brent, the benchmark for oil outside of the U.S., slid 71 cents, or 1.1%, to $63.64.

    Crude inventories fell by 3.1 million barrels last week, more than the decrease of 2.7 million barrels forecast by analysts, the EIA said.

    While a higher-than-expected crude draw usually boosts oil prices, Wednesday’s trading was more influenced by other stockpile numbers on fuel released by the IEA.

    Gasoline stockpiles rose 3.6 million barrels, compared with analysts’ expectations for a drop of 925,000 barrels, the EIA said.

    Distillate inventories, which include diesel and heating oil, jumped by 5.7 million barrels, versus expectations for a 613,000-barrel increase.

    “A solid drop in implied demand has yielded very solid builds to both gasoline and middle distillates,” said Matt Smith, director of commodity research at crude cargoes tracker Clipperdata.

    “Next week’s report will likely be even more mottled by the impact of Hurricane Barry."

    Barry, which came ashore on Saturday in central Louisiana as a Category 1 hurricane before weakening into a tropical storm, prompted oil companies to shut nearly 74% of production at U.S. Gulf of Mexico platforms as a precaution. Nearly 60% of U.S. offshore oil production remained shut in on Tuesday.

    The builds in gasoline and distillates came despite most refineries staying open and running in southeastern Louisiana, where the storm struck. Total U.S. refinery crude runs fell 171,000 bpd, EIA data showed. Refinery utilization rates fell by 0.3 percentage point to 94.4% of total capacity.

    In Tuesday’s session, both WTI and Brent lost about 3% each in the prior session, after hints by U.S. Secretary of State Mike Pompeo that nuclear talks with Iran might begin soon, diffusing tensions across the Middle East. Iran later denied any such suggestion.

    President Donald Trump also said a trade deal with China might not be concluded in the near term and that he was considering heavier tariffs against Beijing which did not buy U.S. farm products as expected.

    Read more
  • StockBeat - Levis Slides as Goldman Warns of Unfashionable Performance Ahead

    Investing.com – Levi Strauss led the slump in apparel stocks Tuesday after Goldman Sachs (NYSE:GS) signaled it was time to move out of apparel brands who rely on department stores to flog their branded merchandise amid fears that increasingly unfashionable performances await in the second half of the year.

    Goldman Sachs cut its ratings on Levi Strauss, Ralph Lauren and PVH, parent company of brands like Calvin Klein and Tommy Hilfiger, to sell from neutral, triggering selling across the sector.

    Levi Strauss (NYSE:LEVI) fell 5.6%, Ralph Lauren (NYSE:RL) 4.5% and PVH (NYSE:PVH) 3.5%.

    The bank warned that several multibrand retailers were laden with more merchandise than they're able to sell amid overly optimistic expectations for spring demand and a tough first half.

    "The combination of persistently tough first-half retail trends and an optimistic spring ordering season has driven inventory overhangs at several multibrand retailers," the Goldman note said.

    The dour second-half outlook comes ahead of the key back-to-school shopping season, with the investment bank warning of increased pressure on brands that shift high volumes of their clothes through department stores.

    "These retailers are thus tightening up ordering as we head into the critical back-to-school and holiday season. We thus see incremental sell-in risk for apparel brands, particularly those with high exposure to department stores."

    The bank zoned in on the woes facing the trio of downgraded apparel stocks.

    Citing Levis' weaker first quarter, Goldman Sachs (NYSE:GS) said the apparel retailer's first-quarter results show it isn't impervious to the sluggish retail backdrop that has weighed on it’s peers margin growth.

    At Ralph Lauren, same-store sales are "languishing" amid headwinds in the wholesale market, the bank said.

    PVH, meanwhile, is behind the curve when it comes to investment in direct-to-consumer sales channels, so will likely come under pressure as outlets remain an important sales channel.

    But not all apparel brands are to face the same second-half fate, Goldman said, as brands that have been investing in building strong direct-to-consumer omnichannel commerce such as Nike (NYSE:NKE) are likely to be more insulated.

    "We take a more cautious view on nonathletic apparel brands whose direct-to-consumer businesses are skewed towards outlet stores, particularly given challenged traffic trends in these locations," Goldman said.

    Read more
  • Honeywell Falls 3%

    Investing.com - Honeywell (NYSE:HON) fell by 3.01% to trade at $169.51 by 13:18 (17:18 GMT) on Wednesday on the NYSE exchange.

    The volume of Honeywell shares traded since the start of the session was 2.07M. Honeywell has traded in a range of $169.51 to $174.58 on the day.

    The stock has traded at $177.3600 at its highest and $169.4700 at its lowest during the past seven days.

    Read more
  • Germany stocks lower at close of trade; DAX down 0.72%

    Investing.com – Germany stocks were lower after the close on Wednesday, as losses in the Food&Beverages, Basic Resources and Retail sectors led shares lower.

    At the close in Frankfurt, the DAX fell 0.72%, while the MDAX index declined 0.50%, and the TecDAX index lost 0.61%.

    The best performers of the session on the DAX were Vonovia SE (DE:VNAn), which rose 0.83% or 0.36 points to trade at 43.83 at the close. Meanwhile, RWE AG ST O.N. (DE:RWEG) added 0.64% or 0.150 points to end at 23.590 and Beiersdorf AG O.N. (DE:BEIG) was up 0.56% or 0.600 points to 107.150 in late trade.

    The worst performers of the session were Fresenius Medical Care KGAA ST (DE:FMEG), which fell 3.51% or 2.480 points to trade at 68.120 at the close. Wirecard AG (DE:WDIG) declined 3.20% or 4.700 points to end at 142.250 and Fresenius SE&Co KGAA O.N. (DE:FREG) was down 2.45% or 1.145 points to 45.630.

    The top performers on the MDAX were Morphosys AG O.N. (DE:MORG) which rose 2.95% to 97.7500, Carl Zeiss Meditec AG (DE:AFXG) which was up 2.10% to settle at 97.300 and Fielmann AG (DE:FIEG) which gained 1.34% to close at 64.400.

    The worst performers were Hochtief AG (DE:HOTG) which was down 4.74% to 106.60 in late trade, Leoni AG (DE:LEOGn) which lost 4.17% to settle at 12.880 and Drillisch AG (DE:DRIG) which was down 3.64% to 29.140 at the close.

    The top performers on the TecDAX were Morphosys AG O.N. (DE:MORG) which rose 2.95% to 97.750, Carl Zeiss Meditec AG (DE:AFXG) which was up 2.10% to settle at 97.300 and SLM Solutions Group AG (DE:AM3D) which gained 1.83% to close at 12.26.

    The worst performers were Medigene NA O.N. (DE:MDG1k) which was down 5.24% to 6.605 in late trade, Drillisch AG (DE:DRIG) which lost 3.64% to settle at 29.140 and Nordex SE O.N. (DE:NDXG) which was down 3.33% to 13.350 at the close.

    Falling stocks outnumbered advancing ones on the Frankfurt Stock Exchange by 487 to 198 and 80 ended unchanged.

    Shares in Carl Zeiss Meditec AG (DE:AFXG) rose to all time highs; rising 2.10% or 2.000 to 97.300. Shares in Leoni AG (DE:LEOGn) fell to 5-year lows; losing 4.17% or 0.560 to 12.880. Shares in Carl Zeiss Meditec AG (DE:AFXG) rose to all time highs; up 2.10% or 2.000 to 97.300.

    The DAX volatility index, which measures the implied volatility of DAX options, was up 2.84% to 14.13.

    Gold Futures for August delivery was up 0.90% or 12.65 to $1423.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 1.63% or 0.94 to hit $56.68 a barrel, while the September Brent oil contract fell 1.13% or 0.73 to trade at $63.62 a barrel.

    EUR/USD was up 0.15% to 1.1225, while EUR/GBP fell 0.14% to 0.9020.

    The US Dollar Index Futures was down 0.20% at 96.843.

    Read more
  • U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 0.58%

    Investing.com – U.K. stocks were lower after the close on Wednesday, as losses in the Automobiles&Parts, Chemicals and Oil&Gas Producers sectors led shares lower.

    At the close in London, the Investing.com United Kingdom 100 lost 0.58%.

    The best performers of the session on the Investing.com United Kingdom 100 were Burberry Group PLC (LON:BRBY), which rose 2.99% or 68.00 points to trade at 2345.00 at the close. Meanwhile, Imperial Brands PLC (LON:IMB) added 2.22% or 45.50 points to end at 2096.50 and Persimmon PLC (LON:PSN) was up 1.14% or 22.00 points to 1950.50 in late trade.

    The worst performers of the session were Johnson Matthey PLC (LON:JMAT), which fell 5.40% or 183.00 points to trade at 3204.00 at the close. RSA Insurance Group PLC (LON:RSA) declined 4.36% or 26.00 points to end at 571.00 and ITV PLC (LON:ITV) was down 3.15% or 3.50 points to 107.80.

    Falling stocks outnumbered advancing ones on the London Stock Exchange by 1257 to 858 and 219 ended unchanged.

    Shares in Burberry Group PLC (LON:BRBY) rose to all time highs; up 2.99% or 68.00 to 2345.00.

    Gold Futures for August delivery was up 0.88% or 12.45 to $1423.65 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 1.56% or 0.90 to hit $56.72 a barrel, while the September Brent oil contract fell 1.09% or 0.70 to trade at $63.65 a barrel.

    GBP/USD was up 0.34% to 1.2445, while EUR/GBP fell 0.14% to 0.9020.

    The US Dollar Index Futures was down 0.20% at 96.847.

    Read more
  • France stocks lower at close of trade; CAC 40 down 0.76%

    Investing.com – France stocks were lower after the close on Wednesday, as losses in the Foods&Drugs, Gas&Water and General Financial sectors led shares lower.

    At the close in Paris, the CAC 40 fell 0.76%, while the SBF 120 index fell 0.75%.

    The best performers of the session on the CAC 40 were Hermes International SCA (PA:HRMS), which rose 1.74% or 11.00 points to trade at 645.00 at the close. Meanwhile, Airbus Group SE (PA:AIR) added 0.63% or 0.82 points to end at 131.96 and Legrand SA (PA:LEGD) was up 0.53% or 0.34 points to 64.02 in late trade.

    The worst performers of the session were Compagnie Generale des Etablissements Michelin SCA (PA:MICP), which fell 3.95% or 4.35 points to trade at 105.65 at the close. ArcelorMittal SA (AS:MT) declined 3.28% or 0.512 points to end at 15.094 and Total SA (PA:TOTF) was down 2.75% or 1.38 points to 48.59.

    The top performers on the SBF 120 were Hermes International SCA (PA:HRMS) which rose 1.74% to 645.00, Coface (PA:COFA) which was up 1.67% to settle at 10.02 and Nexity (PA:NEXI) which gained 1.50% to close at 39.30.

    The worst performers were Vallourec (PA:VLLP) which was down 6.93% to 2.376 in late trade, Technicolor (PA:TCH) which lost 6.18% to settle at 0.759 and Compagnie Generale des Etablissements Michelin SCA (PA:MICP) which was down 3.95% to 105.65 at the close.

    Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 350 to 204 and 103 ended unchanged.

    Shares in Airbus Group SE (PA:AIR) rose to all time highs; rising 0.63% or 0.82 to 131.96. Shares in Coface (PA:COFA) rose to 52-week highs; rising 1.67% or 0.17 to 10.02. Shares in Technicolor (PA:TCH) fell to all time lows; losing 6.18% or 0.050 to 0.759.

    The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was up 7.28% to 13.53.

    Gold Futures for August delivery was up 0.90% or 12.75 to $1423.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 0.89% or 0.51 to hit $57.11 a barrel, while the September Brent oil contract fell 0.51% or 0.33 to trade at $64.02 a barrel.

    EUR/USD was up 0.14% to 1.1224, while EUR/GBP fell 0.16% to 0.9018.

    The US Dollar Index Futures was down 0.20% at 96.843.

    Read more
  • Litecoin Climbs 10% In a Green Day

    Investing.com - Litecoin was trading at $92.252 by 12:40 (16:40 GMT) on the Investing.com Index on Wednesday, up 10.22% on the day. It was the largest one-day percentage gain since July 17.

    The move upwards pushed Litecoin's market cap up to $5.738B, or 2.15% of the total cryptocurrency market cap. At its highest, Litecoin's market cap was $14.099B.

    Litecoin had traded in a range of $77.004 to $94.370 in the previous twenty-four hours.

    Over the past seven days, Litecoin has seen a drop in value, as it lost 17.86%. The volume of Litecoin traded in the twenty-four hours to time of writing was $4.959B or 5.37% of the total volume of all cryptocurrencies. It has traded in a range of $76.7076 to $108.2916 in the past 7 days.

    At its current price, Litecoin is still down 78.04% from its all-time high of $420.00 set on December 12, 2017.

    Elsewhere in cryptocurrency trading

    Bitcoin was last at $9,725.0 on the Investing.com Index, down 1.99% on the day.

    Ethereum was trading at $215.44 on the Investing.com Index, a gain of 4.26%.

    Bitcoin's market cap was last at $174.069B or 65.28% of the total cryptocurrency market cap, while Ethereum's market cap totaled $23.091B or 8.66% of the total cryptocurrency market value.

    Read more
  • Denmark stocks higher at close of trade; OMX Copenhagen 20 up 0.09%

    Investing.com – Denmark stocks were higher after the close on Wednesday, as gains in the Software&Computer Services, Technology and Real Estate sectors led shares higher.

    At the close in Copenhagen, the OMX Copenhagen 20 rose 0.09%.

    The best performers of the session on the OMX Copenhagen 20 were Oersted A/S (CSE:ORSTED), which rose 1.14% or 7.00 points to trade at 622.00 at the close. Meanwhile, Novo Nordisk A/S Class B (CSE:NOVOb) added 0.85% or 2.7 points to end at 321.8 and DSV (CSE:DSV) was up 0.74% or 4.8 points to 652.4 in late trade.

    The worst performers of the session were Ambu A/S (CSE:AMBUb), which fell 3.32% or 3.5 points to trade at 100.5 at the close. AP Moeller - Maersk A/S B (CSE:MAERSKb) declined 2.51% or 198 points to end at 7686 and Danske Bank A/S (CSE:DANSKE) was down 2.43% or 2.5 points to 102.5.

    Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 62 to 55 and 28 ended unchanged.

    Shares in Oersted A/S (CSE:ORSTED) rose to all time highs; gaining 1.14% or 7.00 to 622.00. Shares in DSV (CSE:DSV) rose to all time highs; up 0.74% or 4.8 to 652.4.

    Crude oil for August delivery was down 0.75% or 0.43 to $57.19 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 0.47% or 0.30 to hit $64.05 a barrel, while the August Gold Futures contract rose 0.92% or 13.05 to trade at $1424.25 a troy ounce.

    USD/DKK was down 0.15% to 6.6506, while EUR/DKK rose 0.01% to 7.4673.

    The US Dollar Index Futures was down 0.24% at 96.812.

    Read more
  • Stocks - Wall Street Flat As Investors Digest Bank Earnings Results 

    Investing.com – Wall Street was flat on Wednesday as concerns that lower interest rates will hit corporate bank earnings kept investors in check.

    The Dow fell 19 points or 0.1% by 9:42 AM ET (13:42 GMT), while the S&P 500 was down half a point or 0.1% and the Nasdaq composite rose 4 points or 0.1%.

    Bank of America (NYSE:BAC) was the latest to warn that falling interest rates will hit bank profits. Earnings from JP Morgan, Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC) this week showed that upbeat retail banking results were offset by weak performance in investment banking, while lending margins suffered from a drop in long-term interest rates.

    Bank of America (NYSE:BAC) executives warned that growth in net interest income could slow to 1% this year if the Federal Reserve cuts rates twice. JPMorgan (NYSE:JPM) said Tuesday that it assumes three rate cuts by the end of the year. BofA's stock was up 1% after it posted an 8% rise in net profit for the quarter.

    Expectations that the Fed will cut interest rates this year have helped push U.S. stock markets toward record highs.

    Apple (NASDAQ:AAPL) fell 0.1%, while Goldman Sachs (NYSE:GS) slipped 0.5% and Amazon.com (NASDAQ:AMZN) dipped 0.3% on news that the European Commission opened an antitrust investigation into how it deals with independent retailers.

    Qualcomm (NASDAQ:QCOM) gained 3.7% on news that the U.S. Department of Justice asked an appeals court to pause an antitrust ruling, citing national security concerns. Tesla (NASDAQ:TSLA) rose 1.7%, while Advanced Micro Devices (NASDAQ:AMD)was up 0.4% and Intel (NASDAQ:INTC) inched up 0.5%.

    In commodities, crude oil rose 0.8% to $58.08 a barrel. Gold futures inched up 0.1% to $1,412.75 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.1% to 96.972.

    Read more
  • U.S. Dollar Slips After IMF Says Greenback Is Overvalued 

    Investing.com - The U.S. dollar dipped slightly on Wednesday but still remained near one-week highs after the International Monetary Fund said the greenback is overvalued.

    The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, slumped 0.2% to 96.885 by 10:54 AM ET (14:54 GMT).

    The IMF said in a report that the dollar exchange rates is 6% to 12% too high, while the euro is undervalued for Germany, but overvalued by 4% for France, based on economic fundamentals.

    Meanwhile the report also warned that Brexit and the U.S.-China trade war are a threat to the global economy.

    “An intensification of trade tensions or a disorderly Brexit outcome - with further repercussions for global growth and risk aversion - could .... affect other economies that are highly dependent on foreign demand and external financing,” the External Sector Report said.

    U.S. President Donald Trump has repeatedly called on the Federal Reserve to lower rates in an effort to mirror similar moves by the European Central Bank. Trump has said he wants to weaken the dollar to support growth.

    The dollar fell against the Japanese yen, with USD/JPY slipping 0.1% to 108.17.

    GBP/USD recovered from earlier lows, rising 0.2% to 1.2426.

    Elsewhere, EUR/USD was up 0.1% to 1.1218, AUD/USD slipped 0.2% to 0.700,m while USD/CAD declined 0.2% to 1.3062.

    Read more
  • Gold Prices Slip for Third Day on Signs of Less Aggressive Fed Rate Cuts

    Investing.com - Gold prices fell for a third straight day on the back of signs that the Federal Reserve could be less aggressive in policy easing than markets expect.

    Gold futures for August delivery on the Comex division of the New York Mercantile Exchange, fell $3.95, or 0.3%, to $1,407.25 a troy ounce by 9:04 AM ET (13:04 GMT).

    Gold’s biggest decline this week occurred on Tuesday as a stronger-than-expected reading of U.S. retail sales suggested that the Fed may not hurry to ease cut interest rates.

    Even though markets are currently pricing the odds of a quarter-point interest rate cut at 100% for the end of the month, San Francisco Fed President Mary Daly indicated late Tuesday that she still was still uncertain over whether it was the time to do so.

    "At this point I'm not leaning one direction or another, but I am very much oriented toward looking at the data, watching the pieces come out, looking at the preponderance of evidence on mood and behavior and momentum and headwinds," she said in an interview with Reuters.

    However, her colleague Charles Evans, chief of the Chicago Fed, argued that a half-point reduction could be warranted in order for the central bank to reach its inflation target.

    “There is an argument that if I think it takes 50 basis points before the end of the year to get inflation up, then something right away would make that happen sooner,” he said.

    Dallas Fed President Robert Kaplan, who had opposed a cut, did recently shift his stance, saying that he now thinks a "tactical" reduction of a quarter point could address the risks seen by bond investors, who have pushed some long-term yields below shorter-term ones.

    A strong employment report released at the beginning of the month had appeared to rule out a 50 basis point cut at the July 30-31 meeting, but remarks last week by Fed Chair Jerome Powell have seen some hopes of quick and decisive action from the Fed return.

    Fed funds futures now price in a 34.9% chance for a 50 basis point cut at the next meeting.

    Gold is sensitive to lower interest rates that reduce the opportunity cost of holding non-yielding bullion.

    In other metals trading, silver futures rose 0.3% at $15.732 a troy ounce by 9:05 AM ET (13:05 GMT).

    Palladium futures advanced 1.5% to $1,539.10 an ounce, while sister metal platinum lost 0.7% to $840.95.

    In base metals, copper traded down 0.3% to $2.692 a pound.

    -- Reuters contributed to this report.

    Read more
  • Stocks - U.S. Futures  Flat; BoA Misses; EU Probes Amazon

    Investing.com - U.S. futures pointed to a flat opening bell on Wednesday after Bank of America failed to stem concerns about the outlook for the banking sector with its latest quarterly numbers.

    Bank of America (NYSE:BAC) was down 0.3% after it reported earnings per share of $0.74 on revenue of $23.1 billion. As with results from JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) earlier this week, relatively strong consumer banking offset weakness in its markets-based businesses. The spate of reports has generally shown upbeat retail banking results but closing net margins, causing investors to worry about the impact of the Federal Reserve cutting rates this year.

    The market's focus switches away from finance after the bell, when Netflix (NASDAQ:NFLX) and IBM (NYSE:IBM) post their earnings. There was negative news out of Europe earlier as the European Commission opened up a formal antitrust investigation against Amazon.com (NASDAQ:AMZN), relating to its treatment of independent retailers. Amazon fell 0.3%.

    Nasdaq 100 futures rose 10 points or 0.1% by 6:52 AM ET (10:52 GMT), while Dow futures inched up 13 points or 0.1% and S&P 500 futures gained 1 point or 0.1%.

    Trade developments reverted to being a minor negative for sentiment after U.S. President Donald Trump said there was a “long way to go” on a trade deal with China. Trump also suggested that the U.S. could impose sanctions on another $325 billion worth of Chinese goods.

    Ericsson (NASDAQ:ERIC) fell 5.3% in premarket trade after the Swedish-based maker of telecom network gear warned that it would take a hit to its gross margins as it tries to recover lost ground against China's Huawei. Ericsson is seen as one of the main beneficiaries of the U.S. administration’s targeting of Huawei.

    CSX (NASDAQ:CSX) slumped 7.5% after its second-quarter earnings missed estimates, while United Continental (NASDAQ:UAL) inched up 0.4% after its financial results surpassed expectations, with profit up more than 50% from a year ago.

    Qualcomm (NASDAQ:QCOM) jumped 5.9% after the U.S. Justice Department asked an appeals court to pause an antitrust ruling against it.

    On the data front, building permits and housing starts for June are out at 8:30 AM ET (12:30 GMT).

    In commodities, crude oil rose 0.5% to $57.92 a barrel, while gold futures slipped 0.5% to $1,403.65 a troy ounce. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was flat at 97.002.

    Read more
  • Abbott Labs Earnings Beat, Revenue Misses In Q2

    Investing.com - Abbott Labs (NYSE:ABT) reported second quarter earnings that beat analysts' expectations on Wednesday and revenue that fell short of forecasts.

    The firm reported earnings per share of $0.82 on revenue of $7.98B. Analysts polled by Investing.com expected EPS of $0.8 on revenue of $8B. That compared to EPS of $0.73 on revenue of $7.77B in the same period a year earlier. The company had reported EPS of $0.63 on revenue of $7.54B in the previous quarter.

    Abbott Labs follows other major Healthcare sector earnings this month


    On Tuesday, J&J reported second quarter EPS of $2.58 on revenue of $20.56B, compared to forecasts of EPS of $2.44 on revenue of $20.29B.

    Bayer AG PK earnings beat analysts' expectations on June 18, with second quarter EPS of $0.71 on revenue of $14.5B. Investing.com analysts expected EPS of $0.69 on revenue of $14.17B

    Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

    Read more
  • US Bancorp Earnings, Revenue Beat in Q2

    Investing.com - US Bancorp (NYSE:USB) reported second quarter earnings that beat analysts' expectations on Wednesday and revenue that topped forecasts.

    The firm reported earnings per share of $1.09 on revenue of $5.82B. Analysts polled by Investing.com anticipated EPS of $1.07 on revenue of $5.73B. That compared to EPS of $1.02 on revenue of $5.64B in the same period a year earlier. The company had reported EPS of $1 on revenue of $5.58B in the previous quarter.

    US Bancorp follows other major Financial sector earnings this month


    On Tuesday, JPMorgan reported second quarter EPS of $2.82 on revenue of $29.57B, compared to forecasts of EPS of $2.51 on revenue of $28.84B.

    Bank of America earnings beat analysts' expectations on Wednesday, with second quarter EPS of $0.74 on revenue of $23.08B. Investing.com analysts expected EPS of $0.71 on revenue of $23.12B

    Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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  • PNC Financial Earnings, Revenue Beat in Q2

    Investing.com - PNC Financial (NYSE:PNC) reported second quarter earnings that beat analysts' expectations on Wednesday and revenue that topped forecasts.

    The firm reported earnings per share of $2.88 on revenue of $4.44B. Analysts polled by Investing.com forecast EPS of $2.83 on revenue of $4.41B. That compared to EPS of $2.72 on revenue of $4.32B in the same period a year earlier. The company had reported EPS of $2.61 on revenue of $4.29B in the previous quarter.

    PNC Financial follows other major Financial sector earnings this month


    On Tuesday, JPMorgan reported second quarter EPS of $2.82 on revenue of $29.57B, compared to forecasts of EPS of $2.51 on revenue of $28.84B.

    Bank of America earnings beat analysts' expectations on Wednesday, with second quarter EPS of $0.74 on revenue of $23.08B. Investing.com analysts expected EPS of $0.71 on revenue of $23.12B

    Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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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, July 17:

    1. Bank of America, Netflix, IBM to release earnings

    The string of bank earnings continues on Wednesday with the release of quarterly numbers from Bank of America (NYSE:BAC) ahead of the open. Investors will likely focus on the bank's cost-cutting efforts along with its investment banking performance.

    Tech will steal the spotlight after the market close with the first FAANG report this season from Netflix (NASDAQ:NFLX), where the focus will be on subscriber growth trends and on the rising cost of content production.

    IBM (NYSE:IBM) will also publish its quarterly numbers, where the focus will be on whether the company managed to return to revenue growth in its core business, after it fell 5% in the first quarter. Markets will also be looking for guidance on the impact of its costly Red Hat acquisition.

    2. G7 to focus on tech tax

    G7 finance ministers kicked off a two-day meeting outside Paris and will likely discuss the growing powers of big digital firms while they try to work out a united front on how to tax them.

    G7 governments are concerned that decades-old international tax rules have been hollowed out by the emergence of companies such as Facebook (NASDAQ:FB), Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL), which book profits in low-tax countries regardless of the source of the underlying income.

    France last week passed a new tax on digital sales, aimed at larger companies, despite a threat from the U.S. to launch a probe that could lead to trade tariffs in response.

    3. U.S. stocks set to crawl back toward record highs

    U.S. futures pointed to a higher open as stocks looked set to crawl back toward record highs. Comments from U.S. President Donald Trump on Tuesday that trade talks with China had a “long way to go” dented bulls' enthusiasm, although the S&P 500 broke a five-day losing streak.

    Dow futures gained 33 points, or 0.1%, by 5:28 AM ET (9:28 GMT), S&P 500 futures rose 5 points, or 0.2%, while Nasdaq 100 futures traded up 19 points, or 0.2%.

    While company earnings will likely dominate trading, markets will also be able to check the health of the U.S. real estate market, with the publication of June building permits and housing starts at 8:30 AM ET (12:30 GMT).

    4. Hard Brexit, election risk shake U.K. assets

    Fears that the U.K. will depart the European Union without a deal pushed sterling to its lowest in more than two years against the dollar in early morning trade in Europe.

    Concern over a “no-deal Brexit” has increased, after Conservative leaders Boris Johnson and Jeremy Hunt both vowed to ditch the so-called backstop for Northern Ireland, a key element of the withdrawal agreement that was meant to stop short-term disruption to the economy after Brexit. The EU has signaled repeatedly that it considers the backstop an indispensable part of any deal. Johnson, the bookmakers' favorite to take over, is also planning to call a general election next year, according to The Times of London.

    Cable sank as far as 1.2383, its lowest level since April 2017, before finding its footing and paring losses.

    5. Oil recovers from Pompeo-induced slide ahead of inventories

    U.S. crude bounced back, recovering from a slide of more than 3% on Tuesday after U.S. Secretary of State Mike Pompeo indicated Iran had said it was prepared to negotiate about its missile program. Iran pushed back against Pompeo's characterization. Even if true, talks about ballistic missiles would still not address Iran's suspected pursuit of a nuclear weapon, which is the chief bone of contention between it and the West.

    Tension between the two countries over Tehran’s nuclear program had supported oil prices given speculation that the situation could escalate.

    Market focus will be on the weekly release of U.S. crude inventories at 10:30 AM ET (14:30 GMT) amid expectations for a fifth weekly decline of 2.69 million barrels. The Energy Information Administration report will also include data on U.S. production which will be parsed for threats to a fragile supply-demand balance.

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  • Japan stocks lower at close of trade; Nikkei 225 down 0.31%

    Investing.com – Japan stocks were lower after the close on Wednesday, as losses in the Paper&Pulp, Railway&Bus and Real Estate sectors led shares lower.

    At the close in Tokyo, the Nikkei 225 lost 0.31%.

    The best performers of the session on the Nikkei 225 were Daiichi Sankyo Co., Ltd. (T:4568), which rose 3.13% or 190.0 points to trade at 6270.0 at the close. Meanwhile, Hitachi Zosen Corp. (T:7004) added 3.04% or 12.0 points to end at 407.0 and Toyobo Co., Ltd. (T:3101) was up 2.66% or 35.0 points to 1351.0 in late trade.

    The worst performers of the session were Terumo Corp. (T:4543), which fell 2.85% or 92.0 points to trade at 3138.0 at the close. TDK Corp (T:6762) declined 2.60% or 220.0 points to end at 8230.0 and Taiyo Yuden Co., Ltd. (T:6976) was down 2.42% or 52.0 points to 2093.0.

    Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 2175 to 1307 and 225 ended unchanged.

    Shares in Daiichi Sankyo Co., Ltd. (T:4568) rose to all time highs; up 3.13% or 190.0 to 6270.0.

    The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was unchanged 0.00% to 13.21.

    Crude oil for August delivery was up 0.31% or 0.18 to $57.80 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.48% or 0.31 to hit $64.66 a barrel, while the August Gold Futures contract fell 0.34% or 4.75 to trade at $1406.45 a troy ounce.

    USD/JPY was down 0.00% to 108.22, while EUR/JPY rose 0.02% to 121.33.

    The US Dollar Index Futures was down 0.04% at 97.007.

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  • Australia stocks higher at close of trade; S&P/ASX 200 up 0.49%

    Investing.com – Australia stocks were higher after the close on Wednesday, as gains in the Consumer Staples, Industrials and Telecoms Services sectors led shares higher.

    At the close in Sydney, the S&P/ASX 200 gained 0.49%.

    The best performers of the session on the S&P/ASX 200 were Elders Ltd (ASX:ELD), which rose 16.43% or 0.995 points to trade at 7.050 at the close. Meanwhile, Austal Ltd (ASX:ASB) added 11.24% or 0.400 points to end at 3.960 and Western Areas Ltd (ASX:WSA) was up 8.70% or 0.180 points to 2.250 in late trade.

    The worst performers of the session were Speedcast International Ltd (ASX:SDA), which fell 6.74% or 0.130 points to trade at 1.800 at the close. Galaxy Resources Ltd (ASX:GXY) declined 6.59% or 0.090 points to end at 1.275 and Estia Health Ltd (ASX:EHE) was down 5.78% or 0.160 points to 2.610.

    Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 606 to 545 and 345 ended unchanged.

    Shares in Austal Ltd (ASX:ASB) rose to all time highs; up 11.24% or 0.400 to 3.960.

    The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 1.44% to 10.898.

    Gold Futures for August delivery was down 0.38% or 5.30 to $1405.90 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August rose 0.28% or 0.16 to hit $57.78 a barrel, while the September Brent oil contract rose 0.50% or 0.32 to trade at $64.67 a barrel.

    AUD/USD was down 0.04% to 0.7009, while AUD/JPY fell 0.05% to 75.84.

    The US Dollar Index Futures was down 0.00% at 97.037.

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  • Oil Prices Near Flat After Falling More Than 3% Overnight

    Investing.com - Oil prices were near flat on Wednesday in Asia after slumping more than 3% overnight following news that U.S. President Donald Trump and his administration were considering talks with Iran.

    U.S. Crude Oil WTI Futures last traded at $57.64 by 12:28 AM ET (04:28 GMT), up 0.03%. International Brent Oil Futures inched up 0.3% to $64.56.

    Overnight, multiple reports cited U.S. Secretary of State Mike Pompeo as saying "for the first time" Iranian officials "are ready to negotiate on their missile program." His remarks came after Trump told a cabinet meeting that his administration had made progress with Tehran and did not wish war or regime change there, although he did "want them out of Yemen."

    The news sent oil prices lower by as much as 3%, before rebounding today.

    In other news, the American Petroleum Institute reported that crude inventories fell by 1.4 million barrels in the week to July 12 to 460 million, compared with analysts' expectations for a decrease of 2.7 million barrels.

    Official data is due out later today from the U.S. government's Energy Information Administration, which is expected to report a crude drawdown 3.38 million barrels for last week, according to a consensus of analysts tracked by Investing.com. In the previous week, the EIA reported a drawdown of 9.5 million barrels.

    On the Sino-U.S. trade front, worries on Sino-U.S. trade developments resurfaced today after Trump said there is still a long way to go to reach a deal with China.

    “We have a long way to go as far as tariffs where China is concerned, if we want. We have another $325 billion we can put a tariff on, if we want,” Trump said. “So, we’re talking to China about a deal, but I wish they didn’t break the deal that we had.”

    At the White House cabinet meeting, the president said China was supposed to be buying U.S. farm products and his administration was watching to see if Beijing would do so.

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  • Cintas Earnings, Revenue Beat in Q4

    Investing.com - Cintas (NASDAQ:CTAS) reported fourth quarter earnings that beat analysts' expectations on Tuesday and revenue that topped forecasts.

    The firm reported earnings per share of $2.07 on revenue of $1.79B. Analysts polled by Investing.com expected EPS of $1.94 on revenue of $1.78B. That compared to EPS of $1.77 on revenue of $1.67B in the same period a year earlier. The company had reported EPS of $1.84 on revenue of $1.68B in the previous quarter.

    Cintas follows other major Services sector earnings this month


    On Monday, Prologis reported second quarter EPS of $0.62 on revenue of $703.95M, compared to forecasts of EPS of $0.38 on revenue of $698.76M.

    Walgreens Boots earnings beat analysts' expectations on June 27, with third quarter EPS of $1.47 on revenue of $34.59B. Investing.com analysts expected EPS of $1.43 on revenue of $34.44B

    Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

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  • StockBeat - Micron Slides as Analysts Downplay Memory Price Pop

    Investing.com - Micron (NASDAQ:MU) fell on Tuesday, even as UBS raised its price target on the chipmaker's stock as analysts downplayed expectations that the recent pop in memory prices amid export restrictions on Korea would continue.

    UBS maintained its neutral rating on Micron (NASDAQ:MU) and raised its price target to $47 from $37, though it tempered expectations by claiming 2020 would be a transition year unless gross margins in memory chips improve. Micron was down about 2.8% on the day.

    The new UBS target is closer in line to the $42.86 consensus target among analysts polled by Investing.com. With the stock at about $43, the shares are up 36% this year.

    “We get the near-term stock reaction to geopolitical (Japan/Korea) and competitor production issues, but given the historically strong correlation between the stock and gross margins, it is just hard to believe the stock is off to the races unless margins are snapping higher,” UBS said in a note.

    Japan earlier this month imposed export restrictions on South Korea, which controls about 70% of the global market for dynamic random access memory (DRAM) and 50% for NAND flash memory.

    The move prompted fears of supply shortage, boosting chip prices. But Morgan Stanley said it sees no long-term impact on DRAM pricing and thinks the 10% rise in spot pricing in the past week will prove short-lived.

    Others on Wall Street went further, with Lynx Equity saying it was time to take profits on Micron (NASDAQ:MU) amid fears further headwinds in the chipmaker's core memory business could see the stock retrace some of its 2019 gains.

    The concerns about Micron (NASDAQ:MU) come just a month after the chipmaker drew praise from Wall Street following better-than-expected fiscal third-quarter earnings and an upbeat outlook on memory demand.

    Micron said last month it still expected to see "healthy year-over-year growth" in global DRAM semiconductor demand, though admitted that further capex cuts would be needed in order to reach supply-demand balance in current inventories.

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  • Canada stocks lower at close of trade; S&P/TSX Composite down 0.05%

    Investing.com – Canada stocks were lower after the close on Tuesday, as losses in the Energy, Clean Technology and IT sectors led shares lower.

    At the close in Toronto, the S&P/TSX Composite fell 0.05%.

    The best performers of the session on the S&P/TSX Composite were First Majestic Silver Corp. (TSX:FR), which rose 8.43% or 0.87 points to trade at 11.19 at the close. Meanwhile, Pan American Silver Corp (TSX:PAAS) added 6.40% or 1.10 points to end at 18.29 and First Quantum Minerals Ltd . (TSX:FM) was up 6.19% or 0.74 points to 12.69 in late trade.

    The worst performers of the session were Turquoise Hill Resources Ltd. (TSX:TRQ), which fell 43.17% or 0.600 points to trade at 0.790 at the close. NFI Group Inc (TSX:NFI) declined 10.29% or 3.64 points to end at 31.72 and CannTrust Holdings Inc (TSX:TRST) was down 9.55% or 0.3800 points to 3.6000.

    Falling stocks outnumbered advancing ones on the Toronto Stock Exchange by 582 to 451 and 137 ended unchanged.

    Shares in First Majestic Silver Corp. (TSX:FR) rose to 52-week highs; up 8.43% or 0.87 to 11.19. Shares in Turquoise Hill Resources Ltd. (TSX:TRQ) fell to 5-year lows; down 43.17% or 0.600 to 0.790.

    The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 2.22% to 10.58.

    Gold Futures for August delivery was unchanged 0.00% or 0.00 to $1407.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 3.49% or 2.08 to hit $57.50 a barrel, while the September Brent oil contract rose 0.06% or 0.04 to trade at $64.38 a barrel.

    CAD/USD was up 0.05% to 0.7642, while CAD/EUR rose 0.07% to 0.6818.

    The US Dollar Index Futures was up 0.49% at 97.020.

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  • U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.09%

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

    At the close in NYSE, the Dow Jones Industrial Average declined 0.09%, while the S&P 500 index declined 0.34%, and the NASDAQ Composite index declined 0.43%.

    The best performers of the session on the Dow Jones Industrial Average were Dow Inc (NYSE:DOW), which rose 2.73% or 1.39 points to trade at 52.32 at the close. Meanwhile, 3M Company (NYSE:MMM) added 2.12% or 3.67 points to end at 176.51 and Goldman Sachs Group Inc (NYSE:GS) was up 1.87% or 3.96 points to 215.54 in late trade.

    The worst performers of the session were Intel Corporation (NASDAQ:INTC), which fell 1.90% or 0.95 points to trade at 49.17 at the close. Johnson&Johnson (NYSE:JNJ) declined 1.64% or 2.21 points to end at 132.50 and Exxon Mobil Corp (NYSE:XOM) was down 1.50% or 1.16 points to 75.92.

    The top performers on the S&P 500 were JB Hunt Transport Services Inc (NASDAQ:JBHT) which rose 5.56% to 97.73, The Charles Schwab Corporation (NYSE:SCHW) which was up 3.30% to settle at 41.63 and Whirlpool Corporation (NYSE:WHR) which gained 3.27% to close at 148.61.

    The worst performers were Range Resources Corp (NYSE:RRC) which was down 7.07% to 5.58 in late trade, Western Digital Corporation (NASDAQ:WDC) which lost 5.76% to settle at 51.49 and NRG Energy Inc (NYSE:NRG) which was down 4.38% to 34.08 at the close.

    The top performers on the NASDAQ Composite were Immuron Ltd ADR (NASDAQ:IMRN) which rose 46.76% to 4.30, Bio Path Holdings Inc (NASDAQ:BPTH) which was up 33.10% to settle at 17.170 and Taronis Technologies Inc (NASDAQ:TRNX) which gained 28.61% to close at 0.450.

    The worst performers were Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) which was down 40.66% to 0.570 in late trade, Ideanomics Inc (NASDAQ:IDEX) which lost 23.08% to settle at 1.700 and China Lending Corp (NASDAQ:CLDC) which was down 19.42% to 0.83 at the close.

    Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1513 to 1482 and 25 ended unchanged; on the Nasdaq Stock Exchange, 1391 fell and 1232 advanced, while 132 ended unchanged.

    Shares in Range Resources Corp (NYSE:RRC) fell to 5-year lows; falling 7.07% or 0.42 to 5.58. Shares in Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) fell to all time lows; falling 40.66% or 0.391 to 0.570.

    The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 1.42% to 12.86.

    Gold Futures for August delivery was unchanged 0.00% or 0.00 to $1407.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 3.49% or 2.08 to hit $57.50 a barrel, while the September Brent oil contract rose 0.06% or 0.04 to trade at $64.38 a barrel.

    EUR/USD was up 0.01% to 1.1211, while USD/JPY rose 0.00% to 108.22.

    The US Dollar Index Futures was up 0.49% at 97.020.

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  • Stocks – Recent Highs Now Keeping Wall Street in Check

    Investing.com - Once stocks bash their way to new highs, the encore can be frustrating.

    So it was Tuesday as investors seemed to take a "show me" attitude before making decisions that could push a pricey market higher.

    The major averages moved to new intraday highs soon after the open, but the gains faded as the day wore on. The Dow gave up the last of its gains at the close, finishing off 0.1%. The S&P 500 slipped 0.3%, and the Nasdaq Composite index dropped 0.4%. The Nasdaq 100 Index dropped 0.5%.

    At the end of the day, the S&P 500 was still up 19.8% for this year, with the Dow up 17.2% and the Nasdaq enjoying a 23.9% gain.

    The stagnation may be in part to traders being noplussed by earnings reports. But it also may be that they're considering taking money off the table after the market's big run since early June. The S&P 500 is up 9.5% since June 3, when Fed Chairman Jerome Powell began signalling a rate cut might be coming.

    Stocks jumped to new record highs last week in response to Powell's continued hints about lower rates.

    Holding the market back Tuesday was weakness in energy, utility and healthcare shares.

    Apache (NYSE:APA), Chesapeake Energy (NYSE:CHK) and Devon Energy (NYSE:DVN) were all lower, along with Consolidated Edison (NYSE:ED), the big New York utility company. Johnson & Johnson (NYSE:JNJ) and UnitedHealth Group (NYSE:UNH) were lower.

    On the flip side, there was a group of winners from the oil-price drop: airlines like JetBlue (NASDAQ:JBLU), Alaska Air (NYSE:ALK) and United Airlines parent United Continental Holdings (NASDAQ:UAL).

    What strength you could find was in industrials, materials and consumer discretionary shares, with gains in such stocks as Boeing (NYSE:BA), Whirlpool (NYSE:WHR), U.S. Steel (NYSE:X) and International Paper (NYSE:IP).

    Among consumer stocks, Costco Wholesale (NASDAQ:COST), Chipotle Mexican Grill (NYSE:CMG) and Hershey (NYSE:HSY) moved up. Costco's gain was tiny and came after hitting a new intraday high.

    In oil, WTI futures slumped more than 3% to $57.62 a barrel on a comment from President Donald Trump suggesting Middle East tensions were easing. That raised fears that global oil supplies are more than ample. WTI fell to as low as $57.02. Brent crude, the global benchmark, fell 3.2% to $64.35. The price had fallen to as low as $63.82.

    As a result, Exxon Mobil (NYSE:XOM) fell 1.5%; Chevron (NYSE:CVX) dropped 0.8%. The Philadelphia Oil Service index dropped 1.5%.

    In addition, interest rates moved up, even as Fed Chief Powell repeated his vow to act as appropriate to support the economy. The 10-Year Treasury yield rose 1% to 2.113%.

    Financial stocks had decent performances. JPMorgan Chase (NYSE:JPM) rose 1.1%, and Goldman Sachs (NYSE:GS) climbed 1.9% after second-quarter results beat analysts' estimates.

    Wells Fargo (NYSE:WFC) fell 3%, however, after officials warned expenses will be at the high range of projections and likely to run at the same level in 2020. Wall Street had been looking for costs to come down.

    Earnings reports due Wednesday include IBM (NYSE:IBM), Bank of America (NYSE:BAC), Netflix (NASDAQ:NFLX) and eBay (NASDAQ:EBAY).

    Winners and Losers in the {0|S&P 500}}

    Trucking company JB Hunt Transport Services (NASDAQ:JBHT), discount broker Charles Schwab (NYSE:SCHW) and regional airline Alaska Air (NYSE:ALK) were among the top S&P 500 performers.

    Oil-and-gas producer Range Resources (NYSE:RRC), memory chip maker Western Digital (NASDAQ:WDC) and utility giant NRG Energy (NYSE:NRG) were among the weakest S&P 500 performers.

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  • Gold Dips Ahead of Trump’s Moves on Iran, China

    By Barani Krishnan

    Investing.com - The U.S. appears ready to negotiate with Iran while walking away from talks with China. How these developments factor for gold will be clear in coming days. But for now, prices of the yellow metal are taking a dip.

    Spot gold, reflective of trades in bullion, traded at $1,405.65 per ounce by 2:24 PM ET (18:24 GMT), down $8.36, or 0.6%, on the day.

    Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange, settled down $2.30, or 0.2%, at $1,411.20.

    U.S. Secretary of State Mike Pompeo claimed that "for the first time" on Tuesday Iranian officials "are ready to negotiate on their missile program" after President Donald Trump apparently told a cabinet meeting that his administration had made progress with Tehran and did not wish war or regime change there.

    Trump, meanwhile, said the United States has a long way to go to conclude a trade deal with China, but could impose tariffs on an additional $325 billion worth of Chinese goods if needed.

    Speaking at a Cabinet meeting at the White House, the president said China was supposed to be buying U.S. farm products and his administration was watching to see if Beijing would do so.

    Gold prices also turned lower on Tuesday after a strong retail sales reading sparked buying interest in the U.S. dollar and pushed Treasury yields higher. Retail sales gained 0.4% in June, outpacing consensus forecasts for a meager 0.1% advance.

    A later flat reading of U.S. industrial production in June, missing even the forecast for weak growth of 0.1%, briefly pulled gold back from intraday lows in a short-lived recovery.

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  • Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.14%

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

    At the close in Stockholm, the OMX Stockholm 30 lost 0.14%.

    The best performers of the session on the OMX Stockholm 30 were Autoliv Inc . SDB (ST:ALIVsdb), which rose 3.30% or 21.0 points to trade at 656.6 at the close. Meanwhile, Alfa Laval AB (ST:ALFA) added 2.09% or 4.2 points to end at 205.1 and ASSA ABLOY AB ser. B (ST:ASSAb) was up 1.74% or 3.7 points to 216.1 in late trade.

    The worst performers of the session were Swedbank AB ser A (ST:SWEDa), which fell 2.09% or 3.1 points to trade at 145.0 at the close. Getinge AB ser. B (ST:GETIb) declined 2.01% or 3.0 points to end at 146.4 and Svenska Cellulosa SCA AB B (ST:SCAb) was down 2.01% or 1.6 points to 78.8.

    Falling stocks outnumbered advancing ones on the Stockholm Stock Exchange by 386 to 254 and 62 ended unchanged.

    Shares in ASSA ABLOY AB ser. B (ST:ASSAb) rose to all time highs; gaining 1.74% or 3.7 to 216.1.

    Crude oil for August delivery was down 3.94% or 2.35 to $57.23 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 3.91% or 2.60 to hit $63.88 a barrel, while the August Gold Futures contract fell 0.37% or 5.25 to trade at $1408.25 a troy ounce.

    EUR/SEK was down 0.02% to 10.5264, while USD/SEK rose 0.42% to 9.3928.

    The US Dollar Index Futures was up 0.51% at 97.042.

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  • Netherlands stocks higher at close of trade; AEX up 0.34%

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

    At the close in Amsterdam, the AEX added 0.34%.

    The best performers of the session on the AEX were ArcelorMittal SA (AS:MT), which rose 3.97% or 0.596 points to trade at 15.606 at the close. Meanwhile, ABN AMRO Group NV (AS:ABNd) added 1.43% or 0.28 points to end at 19.52 and NN Group NV (AS:NN) was up 1.41% or 0.50 points to 36.06 in late trade.

    The worst performers of the session were Takeaway Com Holding BV (AS:TKWY), which fell 2.26% or 1.9000 points to trade at 82.1000 at the close. WFD Unibail Rodamco NV (AS:URW) declined 1.59% or 2.05 points to end at 127.00 and Royal Dutch Shell PLC Class A (AS:RDSa) was down 0.56% or 0.160 points to 28.660.

    Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 72 to 52 and 13 ended unchanged.

    The AEX Volatility, which measures the implied volatility of AEX options, was down 4.10% to 11.30.

    Crude oil for August delivery was down 3.88% or 2.31 to $57.27 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September fell 3.66% or 2.43 to hit $64.05 a barrel, while the August Gold Futures contract fell 0.34% or 4.75 to trade at $1408.75 a troy ounce.

    EUR/USD was down 0.43% to 1.1209, while EUR/GBP rose 0.41% to 0.9030.

    The US Dollar Index Futures was up 0.49% at 97.018.

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  • Cold Pizza Stocks After Domino’s Comps Struggle

    Investing.com - Shares of fast-food companies were down in midday trade on Tuesday after Domino’s Pizza reported disappointing same-store sales during the second quarter.

    Same-store sales at company-owned outlets in the U.S. grew by 2.1%, while U.S. franchise store sales rose 3.1%. Both were below consensus estimates.

    Shares of Domino’s Pizza (NYSE:DPZ) fell 6.7%, while Papa John's International (NASDAQ:PZZA) was down 3%, Wingstop (NASDAQ:WING) dipped 1.7% and Yum! Brands (NYSE:YUM) inched down 0.6%.

    Competition from food delivery apps like Uber Technologies' (NYSE:UBER) UberEats and GrubHub (NYSE:GRUB) has pushed into Domino’s delivery model, which has caused headwinds to its sales that will likely continue for the near future, executives said on an earnings call.

    Sales were mostly driven by individuals buying more per order, indicating that traffic was weaker during the second quarter.

    The company reported net income of $92.4 million or $2.19 per share, compared to $77.4 million or $1.78 per share a year earlier.

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  • Germany stocks mixed at close of trade; DAX up 0.35%

    Investing.com – Germany stocks were mixed after the close on Tuesday, as gains in the Construction, Industrials and Consumer&Cyclical sectors led shares higher while losses in the Food&Beverages, Financial Services and Software sectors led shares lower.

    At the close in Frankfurt, the DAX rose 0.35%, while the MDAX index climbed 0.25%, and the TecDAX index lost 0.34%.

    The best performers of the session on the DAX were Deutsche Bank AG NA O.N. (DE:DBKGn), which rose 4.33% or 0.298 points to trade at 7.183 at the close. Meanwhile, Deutsche Lufthansa AG (DE:LHAG) added 2.62% or 0.390 points to end at 15.260 and Heidelbergcement AG O.N. (DE:HEIG) was up 1.60% or 1.080 points to 68.380 in late trade.

    The worst performers of the session were Wirecard AG (DE:WDIG), which fell 1.80% or 2.700 points to trade at 146.950 at the close. Vonovia SE (DE:VNAn) declined 0.80% or 0.35 points to end at 43.47 and Deutsche Telekom AG Na (DE:DTEGn) was down 0.40% or 0.060 points to 15.000.

    The top performers on the MDAX were Jungheinrich AG O.N.VZO (DE:JUNG_p) which rose 3.34% to 24.740, Commerzbank AG O.N. (DE:CBKG) which was up 2.58% to settle at 6.636 and Morphosys AG O.N. (DE:MORG) which gained 2.43% to close at 94.9500.

    The worst performers were Nemetschek AG O.N. (DE:NEKG) which was down 3.24% to 53.700 in late trade, Deutsche Euroshop AG (DE:DEQGn) which lost 2.04% to settle at 25.000 and LEG Immobilien AG (DE:LEGn) which was down 2.03% to 103.600 at the close.

    The top performers on the TecDAX were Medigene NA O.N. (DE:MDG1k) which rose 4.03% to 6.970, Morphosys AG O.N. (DE:MORG) which was up 2.43% to settle at 94.950 and Aixtron SE NA O.N. (DE:AIXGn) which gained 1.89% to close at 7.5540.

    The worst performers were Nemetschek AG O.N. (DE:NEKG) which was down 3.24% to 53.700 in late trade, Wirecard AG (DE:WDIG) which lost 1.80% to settle at 146.950 and Nordex SE O.N. (DE:NDXG) which was down 1.36% to 13.810 at the close.

    Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 383 to 282 and 92 ended unchanged.

    The DAX volatility index, which measures the implied volatility of DAX options, was down 2.62% to 13.74.

    Gold Futures for August delivery was up 0.00% or 0.05 to $1413.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in August fell 2.01% or 1.20 to hit $58.38 a barrel, while the September Brent oil contract fell 1.73% or 1.15 to trade at $65.33 a barrel.

    EUR/USD was down 0.40% to 1.1212, while EUR/GBP rose 0.42% to 0.9031.

    The US Dollar Index Futures was up 0.44% at 96.972.

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