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Gap same-store sales disappoint as Old Navy struggles

7 hours ago DieselGasoil Comments Off on Gap same-store sales disappoint as Old Navy struggles
FILE PHOTO: People pass by the GAP clothing retail store in Manhattan, New York, U.S., August 15, 2016. REUTERS/Eduardo Munoz /File Photo (Reuters) – Gap Inc (GPS.N) posted quarterly same-store sales that fell short of analysts’ estimates on Thursday, as Old Navy suffered its worse comparable sales figures in three years ahead of a planned Read More

S&P 500 stalls as U.S. employment, manufacturing data offset

8 hours ago DieselGasoil Comments Off on S&P 500 stalls as U.S. employment, manufacturing data offset
NEW YORK (Reuters) – The benchmark S&P 500 struggled for direction on Thursday as strong results from Nordstrom Inc (JWN.N) and a fall in U.S. jobless claims offset data showing a contraction in U.S. manufacturing activity. Stocks initially rose at the market open as shares of Nordstrom jumped after the department store’s quarterly profit beat Read More

Wall St. falls after disappointing data, Fed policymakers dampen rate cut hopes

12 hours ago DieselGasoil Comments Off on Wall St. falls after disappointing data, Fed policymakers dampen rate cut hopes
(Reuters) – U.S. stocks turned lower on Thursday as the first contraction in the manufacturing sector in nearly a decade and uncertainty about future interest rate cuts overshadowed an initial boost from upbeat retail earnings. IHS Markit said its “flash” survey on new orders for U.S. manufactured goods fell to 49.5 in August, over concerns Read More

Wall Street opens higher on strong retail earnings

14 hours ago DieselGasoil Comments Off on Wall Street opens higher on strong retail earnings
(Reuters) – U.S. stocks opened higher on Thursday, as strong results from retailers including Nordstrom reinforced confidence in consumer demand, while investors look ahead to Fed Chief Jerome Powell’s speech for more clues on future interest rate moves. The Dow Jones Industrial Average .DJI rose 68.91 points, or 0.26%, at the open to 26,271.64. The Read More

Storm over Victoria Harbour: Is Hong Kong’s economic future really as grim as Western media thinks?

18 hours ago DieselGasoil Comments Off on Storm over Victoria Harbour: Is Hong Kong’s economic future really as grim as Western media thinks?
Hong Kong is in for some big trouble. At least, that’s what the Western media has been saying, offering endless predictions of a coming economic crisis in the city wracked by massive protests. But is its future really so dismal? If one were to Google “Hong Kong” only a year ago, the search engine would Read More

Oil inches higher after U.S. crude stocks drawdown, economic worries weigh

1 day ago DieselGasoil Comments Off on Oil inches higher after U.S. crude stocks drawdown, economic worries weigh
SINGAPORE (Reuters) – Oil prices edged higher on Thursday after a drawdown in U.S. crude inventories, but lingering concerns over the global economy and a build-up in U.S. refined product stocks kept a lid on gains. FILE PHOTO: A pump jack operates at sunset in an oil field in Midland, Texas U.S. August 22, 2018. Read More

Asia shares find support, still waiting on stimulus

1 day ago DieselGasoil Comments Off on Asia shares find support, still waiting on stimulus
SYDNEY (Reuters) – Asian shares edged ahead on Thursday after Wall Street got a boost from strong retail results, while bonds retreated as U.S. policy makers sounded conflicted on whether to cut interest rates as sharply as markets were wagering. A man is reflected on an electronic board showing a graph analyzing recent change of Read More

Nordstrom beats profit estimates as it clears inventory faster and sells more online

1 day ago DieselGasoil Comments Off on Nordstrom beats profit estimates as it clears inventory faster and sells more online
(Reuters) – Upscale U.S. retailer Nordstrom Inc (JWN.N) reported a better-than-expected quarterly profit on Wednesday as it said it had cut costs and cleared more inventory, sending its shares up 10% in extended trading. FILE PHOTO: The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017. REUTERS/Rick Wilking/File Photo The Seattle-based company, which sells Read More

Instant View: July FOMC minutes – 25 basis points cut seen as a mid-cycle adjustment

1 day ago DieselGasoil Comments Off on Instant View: July FOMC minutes – 25 basis points cut seen as a mid-cycle adjustment
(Reuters) – The Federal Reserve debated cutting interest rates more aggressively at its July meeting, although central bankers were united in wanting to avoid the appearance of being on a path to more rate cuts, minutes showed. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Read More

Target, Lowe’s earnings push Wall St. higher ahead of Fed minutes

1 day ago DieselGasoil Comments Off on Target, Lowe’s earnings push Wall St. higher ahead of Fed minutes
(Reuters) – Wall Street’s main indexes rose about 1% on Wednesday, as upbeat earnings from retailers Lowe’s and Target reinforced confidence in consumer demand, while investors awaited the release of the Fed minutes for further clues on the path of interest rate cuts. FILE PHOTO: Traders work on the floor at the New York Stock Read More