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Economy energy month Thomson Reuters Top News Wall Street 

Oil’s drop could leave a stain on earnings

June 24, 2017 By Caroline Valetkevitch and Rodrigo Campos NEW YORK (Reuters) – Heading into second-quarter earnings season, investors are looking for a continuation of strong U.S. company results to justify high stock valuations, now trading near their loftiest levels since 2004. However, drilling a hole into that hopeful scenario is the current bear market in oil prices and an economy showing signs of growth below the pace expected earlier in the year. “A lot of the expectation for a recovery in earnings is predicated on oil prices being around…

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attack bank Business energy 

Healthcare stocks jump after Republicans unveil plan; banks, staples slip

June 22, 2017 By Sinead Carew (Reuters) – The S&P healthcare index rose 1 percent on Thursday, hitting its fifth consecutive record close following the release of Senate Republicans’ bill to replace Obamacare, while financial and consumer staple shares ended lower. The legislation aims at curbing Medicaid funding and reshaping subsidies to low-income people for private insurance. The index has risen 3.9 percent in five days. The Nasdaq biotechnology index rose 1.3 percent, for a 9.4 percent jump so far this week. While it was not clear whether the bill…

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attack bank Business energy 

Wall St. flat at open as oil prices edge up

June 22, 2017 (Reuters) – U.S. stocks opened little changed on Thursday as oil prices remained under pressure even as they edged up from multi-month lows. The Dow Jones Industrial Average rose 5.05 points, or 0.02 percent, to 21,415.08. The S&P 500 gained 1.09 points, or 0.04 percent, to 2,436.7. The Nasdaq Composite index added 6.01 points, or 0.1 percent, to 6,239.96. (Reporting by Tanya Agrawal; Editing by Saumyadeb Chakrabarty) Powered by WPeMatico

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bank change energy Tech Top News Wall Street 

Low U.S. inflation? It’s your phone: BlackRock bond manager

June 21, 2017 NEW YORK (Reuters) – Americans’ love of their smartphones and apps may be contributing to the sluggish pace of inflation that is worrying Wall Street and the Federal Reserve, a top bond manager at BlackRock, the world’s biggest asset manager, said on Wednesday. Consumers are relying less and less on devices such as cameras, radios and televisions, and services such as taxis and stores, replacing them with programs in their iPhones and other high-end phones, according to Rick Rieder, BlackRock’s chief investment officer of global fixed income….

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Economy energy increase rates Top News UK 

Dollar advance stalls as oil slides, pound struggles near two-month low

June 21, 2017 By Shinichi Saoshiro TOKYO (Reuters) – The dollar pulled back from one-month highs against a basket of currencies on Wednesday as tumbling oil prices pushed down U.S. yields, while the pound wobbled after Bank of England Governor Mark Carney shot down hopes of an interest rate hike. The dollar index against a group of major currencies was 0.05 percent lower at 97.699 . It had hit a one-month high of 97.871 on Tuesday as expectations that the U.S. Federal Reserve, which hiked interest rates last week, would…

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Business energy MSCI Nigeria SPX 

Investors skittish as oil enters bear territory; eyes on China stocks

June 21, 2017 By Wayne Cole SYDNEY (Reuters) – A renewed slump in oil prices to seven-month lows put Asian investors on edge on Wednesday, overshadowing a decision by U.S. index provider MSCI to add mainland Chinese stocks to one of its popular benchmarks. The slide in energy costs boosted bond prices and flattened yield curves as investors priced in lower inflation for longer, while safe-haven flows underpinned the U.S. dollar. The spread between yields on U.S. five-year notes and 30-year bonds shrank to the smallest since 2007. MSCI’s broadest…

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Business energy MAX Paris Airshow 

New Boeing jet and F-35 demand lift aerospace spirits in Paris

June 19, 2017 By Tim Hepher and Mike Stone PARIS (Reuters) – The Paris Airshow opened under bright blue skies on Monday, with a new member of Boeing’s best-selling 737 range set to vie for attention with a potentially huge order for F-35 fighter jets and a visit by French President Emmanuel Macron. After years of booming orders, driven by rising air travel and more fuel-efficient planes, passenger jetmakers are bracing for a slowdown in demand while they focus on meeting tight delivery schedules and ambitious production targets. But U.S….

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Business energy General Electric Co John Flannery 

GE merges power units as executive who lost out on GE CEO job retires

June 14, 2017 By Alwyn Scott SEATTLE (Reuters) – General Electric Co said on Wednesday it will combine its power and energy distribution businesses to create its largest unit by revenue as the top executive at GE Power announced his retirement after failing to win the conglomerate’s CEO job. The changes were expected after Steve Bolze, a 24-year GE veteran who heads the power unit, lost out to John Flannery, chief of GE’s Healthcare division, as successor to CEO Jeff Immelt. Bolze, 54, said he would retire on July 3….

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Economy energy increase OPEC report Top News 

Oil prices fall on OPEC output increase, rising U.S. crude stocks

June 14, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil prices fell by one percent early on Wednesday after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite its pledge to cut back. Brent crude futures were at $48.25 per barrel at 0039 GMT, down 47 cents, or 1 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $45.94 per barrel, down 52 cents, or 1.1 percent. The price falls came on the back of an ongoing…

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As large cap gets larger, can the tech rally continue?

June 3, 2017 By Rodrigo Campos NEW YORK (Reuters) – Technology shares have led U.S. stocks to record highs and are expected to continue to rise, but as market value becomes concentrated in the largest companies, some are beginning to look for the next rally leader. The technology sector of the S&P 500 has risen roughly 20 percent so far in 2017, led by Apple , Alphabet , Facebook and Microsoft . The only other company with comparable gains in market value this year is Amazon , a market darling…

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