Archive for February, 2016

Oil rise 3 percent as China moves to boost economy, crude output drops

February 29th, 2016

Oil rise 3 percent as China moves to boost economy, crude output drops

Worker checks valve of oil pipe at Lukoil company owned Imilorskoye oil field outside West Siberian city of KogalymBy Barani Krishnan NEW YORK (Reuters) – Oil prices jumped 3 percent on Monday after China moved to boost its slowing economy, a drop in crude output from OPEC and the U.S., and a pledge by Saudi Arabia to limit market volatility, suggesting a 20-month selloff could be hitting a bottom. China, the world’s largest oil importer, cut its reserve requirement ratio, the amount of cash banks must hold as reserves, for a fifth time in a year. Saudi Arabia, working with Venezuela and Qatar and non-OPEC producer Russia on a plan to freeze oil output at January highs, pledged to “remain in contact with all main producers in attempt to limit volatility” in crude prices.

Source
Economy News Headlines – Yahoo! News

Valeant shares drop as CEO returns, it cancels fourth-quarter report

February 29th, 2016

Valeant shares drop as CEO returns, it cancels fourth-quarter report

The headquarters of Valeant Pharmaceuticals International Inc. seen in Laval QuebecThe Canadian company will hold a call on Monday with sell-side analysts and chief executive Michael Pearson, Bloomberg reported, citing sources. The timing of the return of CEO Pearson had been unknown after suffering from severe pneumonia, and there was speculation on Wall Street on whether he would return at all. Investors have questioned how the company will regain sales of many dermatological products that Philidor sold, and do not know the terms of a new distribution agreement with Walgreens Boots Alliance Inc .

Source
Stock Markets News Headlines – Yahoo! News

GLOBAL MARKETS-Stocks lower as early gains fade; oil higher

February 29th, 2016

GLOBAL MARKETS-Stocks lower as early gains fade; oil higher
* Global equity markets down; Wall St falls in choppy trading

Source
Reuters: US Dollar Report

S&P 500 falls below closely watched threshold

February 29th, 2016

S&P 500 falls below closely watched threshold

Traders work on the floor of the NYSEU.S. indexes gave up early gains despite a 3 percent rally in U.S. oil prices. Following gains last week, technical trading dominated the action as the S&P 500 fell below its 50-day moving average. “If stocks rally up to a declining 50-day average, people will sell against that,” said Michael Matousek, head trader at U.S. Global Investors Inc in San Antonio.

Source
Stock Markets News Headlines – Yahoo! News

Wall Street edges up on China stimulus, higher oil prices

February 29th, 2016

Wall Street edges up on China stimulus, higher oil prices

Traders work on the floor of the NYSE(Corrects company name to Endo International PLC from Endo Pharmaceuticals and corrects stock symbol in 11th paragraph) By Abhiram Nandakumar (Reuters) – Wall Street edged up on Monday on China’s move to boost its slowing economy and higher oil prices, putting the S&P 500 on track to post its first monthly gains this year. China’s central bank on Monday cut its reserve requirement ratio, or the amount of cash that banks must hold as reserves, for the fifth time in a year.

Source
Stock Markets News Headlines – Yahoo! News

Wall St. edges up on China stimulus, higher oil prices

February 29th, 2016

Wall St. edges up on China stimulus, higher oil prices

Traders work on the floor of the NYSEChina’s central bank on Monday cut its reserve requirement ratio, or the amount of cash that banks must hold as reserves, for the fifth time in a year. At 12:34 p.m. ET (1734 GMT), the Dow Jones industrial average was up 44.34 points, or 0.27 percent, at 16,684.31, the S&P 500 was up 5.26 points, or 0.27 percent, at 1,953.31 and the Nasdaq Composite index was up 20.53 points, or 0.45 percent, at 4,611.00. Eight of the 10 major S&P sectors were higher, led by 0.78 percent rise in the materials sector .

Source
Economy News Headlines – Yahoo! News

Drugmakers lead decline in US stocks, but gold glimmers

February 29th, 2016

Drugmakers lead decline in US stocks, but gold glimmers

Drugmakers lead decline in US stocks, but gold glimmersU.S. stocks are slipping Monday as weak earnings for drug makers put health care stocks under pressure. Global stocks were mixed after a meeting of leading economic policymakers ended without any specific …

Source
Economy News Headlines – Yahoo! News

Global government debt to keep rising in 2016 – S&P

February 29th, 2016

Global government debt to keep rising in 2016 – S&P

A view shows the Standard & Poor's building in New York's financial districtBy Marc Jones LONDON (Reuters) – The United States, China, Brazil and India are expected to keep world government debt rising this year, Standard and Poor’s said on Monday, despite a small reduction in the annual global borrowing bill. The rating agency released a new report saying the stock of global government debt was expected to rise 2 percent to $42.4 trillion, with new borrowing of $6.7 trillion set to continue to outstrip the amounts being repaid. U.S. borrowing is expected to increase 8 percent or $163 billion year-on-year, while world number two economy China is forecast to ramp its borrowing 18 percent or $51 billion.

Source
Stock Markets News Headlines – Yahoo! News

Valeant shares drop as CEO returns, cancels earnings report

February 29th, 2016

Valeant shares drop as CEO returns, cancels earnings report

The headquarters of Valeant Pharmaceuticals International Inc. seen in Laval QuebecThe timing of the return of CEO Michael Pearson had been unknown after suffering from severe pneumonia, and there was speculation on Wall Street on whether he would return at all. The full outcome of its board investigation into the relationship with pharmacy Philidor RX Services, now terminated, is still unknown. Investors have questioned how the company will regain sales of many dermatological products that Philidor sold, and do not know the terms of a new distribution agreement with Walgreens Boots Alliance Inc .

Source
Stock Markets News Headlines – Yahoo! News

Wall St up slightly on China stimulus, oil price rise

February 29th, 2016

Wall St up slightly on China stimulus, oil price rise

Traders work on the floor of the NYSEWall Street edged up on Monday morning as cautious investors assessed China’s move to boost its slowing economy and higher oil prices raised hopes that the market had bottomed out. China’s central bank on Monday cut its reserve requirement ratio, or the amount of cash that banks must hold as reserves, for the fifth time in a year.

Source
Stock Markets News Headlines – Yahoo! News