Business

Tech stocks, Fed view help Wall Street climb

2 hours ago DieselGasoil Comments Off on Tech stocks, Fed view help Wall Street climb
(Reuters) – Wall Street’s main indexes rose on Friday, with gains in technology stocks helping claw back some of the week’s losses, after the Federal Reserve calmed investors’ nerves by saying interest rate hikes would continue as planned this year. Looking past the recent stock market sell-off and concerns about inflation, the Fed said it Read More

General Mills moves into pet food with $8 billion Blue Buffalo deal

3 hours ago DieselGasoil Comments Off on General Mills moves into pet food with $8 billion Blue Buffalo deal
(Reuters) – Cheerios cereal maker General Mills Inc (GIS.N) will buy Blue Buffalo Pet Products Inc (BUFF.O) for nearly $8 billion, foraying into a fast-growing pet food market to counter declining sales of processed foods. The acquisition announced Friday is the latest by a major food company seeking to expand in the $30 billion U.S. Read More

Wall Street gains as tech stocks rise

3 hours ago DieselGasoil Comments Off on Wall Street gains as tech stocks rise
(Reuters) – Wall Street’s main indexes rose on Friday, with gains in technology stocks helping claw back some of the week’s losses, which were sparked by concerns about interest rates. Looking past the recent stock market sell-off and concern about inflation, the Federal Reserve said it expected growth to remain steady and that it saw Read More

Judge rejects Shkreli's request to have conviction voided: Bloomberg

4 hours ago DieselGasoil Comments Off on Judge rejects Shkreli's request to have conviction voided: Bloomberg
(Reuters) – Biotech founder Martin Shkreli’s request to have his securities fraud convictions thrown out was rejected by a judge who is set to sentence him on March 9, Bloomberg reported on Friday. The evidence presented at the trial “was more than sufficient” to warrant a conviction for Shkreli, Judge Kiyo Matsumoto told his lawyers, Read More

‘Turkcoin’ crypto must be launched ‘before it’s too late’ – Ankara MP

4 hours ago DieselGasoil Comments Off on ‘Turkcoin’ crypto must be launched ‘before it’s too late’ – Ankara MP
Turkish authorities are considering a proposal to create a state-controlled “national bitcoin” named ‘Turkcoin.’ It would be backed by the state’s sovereign wealth fund, according to local media reports. “The world is advancing toward a new digital system. Turkey should create its own digital system and currency before it’s too late,” Turkey’s former Industry Minister Read More

Wall Street advances on gains in tech stocks

5 hours ago DieselGasoil Comments Off on Wall Street advances on gains in tech stocks
(Reuters) – Wall Street’s main indexes rose on Friday, with gains in technology stocks helping claw back some of the week’s losses, which were sparked by concerns about interest rates. Soaring shares of Hewlett Packard Enterprise (HPE.N) and HP Inc (HPQ.N), the two companies created from the split of Hewlett Packard Co in 2015, were Read More

Jobless Data And Q4 Earnings

5 hours ago DieselGasoil Comments Off on Jobless Data And Q4 Earnings
Shutterstock photo Ahead of today’s opening bell, Initial Jobless Claims results hit the tape, as they do every Thursday morning. And as we’ve seen for the past several weeks – and in broader terms for the past several years – weekly claims numbers keep falling lower. Last week tallied just 222K new claims, a drop Read More

Investing Using The Yield Curve

5 hours ago DieselGasoil Comments Off on Investing Using The Yield Curve
In last weeks post How Close Is The USA To The Next Recession?, several readers pointed out that they check the yield curve to understand if a recession is about to occur. A yield curve inversion historically has been an accurate predictor of an impending recession in the U.S.. But, is it useful in timing market Read More

Why Is The WTI-Brent Spread Shrinking?

5 hours ago DieselGasoil Comments Off on Why Is The WTI-Brent Spread Shrinking?
Shutterstock photo As U.S. exports continue to rise, the price gap between WTI and Brent has sharply narrowed. The premium that Brent traded at relative to WTI used to run in the double digits. The spread was the result of surging shale output that ended up trapped in the U.S. because of a ban on Read More