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Global stocks up on Fed rate cut hopes, Microsoft results; dollar bounces

2 days ago DieselGasoil Comments Off on Global stocks up on Fed rate cut hopes, Microsoft results; dollar bounces
NEW YORK (Reuters) – A gauge of global stocks climbed on Friday as investors looked for a strongly dovish U.S. Federal Reserve at its next meeting and as early returns on earnings season have come in better than anticipated. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., Read More

What Do Earnings From The Big Banks Tell Us?

2 days ago DieselGasoil Comments Off on What Do Earnings From The Big Banks Tell Us?
I have often looked at the sources of profits for the big four money center banks banks, Citi ( C ), JP Morgan Chase ( JPM ), Bank of America ( BAC ), and Wells Fargo ( WFC ), and used that information to assess market prospects for the few Read More

Earnings Data Deluge

2 days ago DieselGasoil Comments Off on Earnings Data Deluge
Capping off the first week of unofficial earnings season we hear from several companies from a wide range of industries The good news is that most of the Q2 earnings results this morning were solid though like the full week of mostly strong reports marked notably by Netflix s 160 Read More

AmEx warns of higher costs as it boosts rewards program, shares fall

2 days ago DieselGasoil Comments Off on AmEx warns of higher costs as it boosts rewards program, shares fall
(Reuters) – American Express Co (AXP.N) warned of higher operating costs this year as the credit card issuer spends heavily on rewards programs to attract customers in an increasingly crowded market, sending its shares down 2.5% on Friday. FILE PHOTO: American Express logo and trading symbol are displayed on a screen at the New York Read More

Wall St. slightly higher on Microsoft results, rate cut hopes

2 days ago DieselGasoil Comments Off on Wall St. slightly higher on Microsoft results, rate cut hopes
(Reuters) – Wall Street’s main indexes edged higher on Friday after solid results from technology giant Microsoft added to an upbeat mood following hints from a top Federal Reserve official that a U.S. interest rate cut could be imminent. Traders walk on the floor of the New York Stock Exchange (NYSE) in New York, U.S., Read More

Cummins makes offer for VW’s large engines unit: sources

2 days ago DieselGasoil Comments Off on Cummins makes offer for VW’s large engines unit: sources
FRANKFURT (Reuters) – United States-based diesel (gasoil) engines maker Cummins (CMI.N) has made an indicative offer for Volkswagen’s (VOWG_p.DE) MAN Energy Solutions unit, people close to the matter said, as the carmaker seeks to slim down its portfolio of disparate assets. FILE PHOTO: The logo of Volkswagen is seen in front of its plant, in Read More

Schlumberger sees shale output boom slowing on budget cuts

2 days ago DieselGasoil Comments Off on Schlumberger sees shale output boom slowing on budget cuts
7/19/2019 NEW YORK – The shale boom is about to hit a speed bump, according to the world’s biggest oilfield service provider. Schlumberger expects surging oil production from North American shale basins to slow as explorers cut spending, outgoing CEO Paal Kibsgaard said Friday during the company’s second-quarter earnings call. A recent spree of mergers Read More

Wall St. rises on Microsoft’s beat, rate cut euphoria

2 days ago DieselGasoil Comments Off on Wall St. rises on Microsoft’s beat, rate cut euphoria
(Reuters) – U.S. stock indexes advanced on Friday as solid results from Microsoft lifted technology stocks and added to an upbeat mood following signs from New York Fed President John Williams that the central bank would lower interest rates this month. Traders walk on the floor of the New York Stock Exchange (NYSE) in New Read More

Grounding of 737 MAX after two deadly crashes will cost Boeing $5 billion to date

2 days ago DieselGasoil Comments Off on Grounding of 737 MAX after two deadly crashes will cost Boeing $5 billion to date
The world’s biggest plane-maker Boeing said company revenue will take a $4.9 billion hit in the second quarter due to the worldwide grounding of its 737 MAX jets after two fatal crashes. That will be the biggest quarterly loss in Boeing’s history when it reports its financial results next week. According to the company, lost Read More