Analyst news

• Trump tax plan would aid Wall St. despite closing loophole

  11-10-2016 23:25 via news.yahoo.com
  
  By David Morgan WASHINGTON (Reuters) - U.S. Republican presidential nominee Donald Trump reiterated his promise in Sunday's debate to kill the "carried interest" tax loophole that benefits hedge fund managers and others - but his tax plan offers other goodies for Wall Street, a nonpartisan tax research group said on Tuesday. Trump and Democratic rival Hillary Clinton's tax plans differ like mirror images, especially when it comes to how they treat investment fund managers and other wealthy Ameri
  
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• Trump plan would aid Wall Street despite end of carried interest

  11-10-2016 23:20 via news.yahoo.com
  
  By David Morgan WASHINGTON (Reuters) - Republican presidential candidate Donald Trump in Sunday's debate reiterated his promise to kill the "carried interest" tax loophole that benefits hedge fund managers and others - but his tax plan offers other goodies to Wall Street financiers, a nonpartisan tax research group said on Tuesday. Trump and Democratic rival Hillary Clinton's tax plans, which differ greatly, were compared side-by-side in reports by the Tax Policy Centre which focused on carried
  
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• TSX edges lower as U.S. earnings dent sentiment

  11-10-2016 23:01 via news.yahoo.com
  
  By Fergal Smith TORONTO (Reuters) - Canada's main stock index edged lower on Tuesday as a disappointing start to U.S. earnings season weighed, offsetting gains for the shares of energy companies after a move higher in oil prices. Modest losses for the TSX follow a market holiday on Monday when the price of Brent oil reached its highest in a year. "Investors in Canada are digesting more than just their Thanksgiving weekend meals today, they are also taking in the start of U.S. third quarter earni
  
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• Wall Street stocks slide, dollar hits 8-month high

  11-10-2016 22:45 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Slumping crude prices and a dour start to Wall Street's corporate earnings season pulled down U.S. and European equities on Tuesday, while the dollar hit an eight-month high on increasing bets U.S. interest rates will rise in December. Wall Street fell more than 1 percent as shares of aluminium producer Alcoa and diagnostics test maker Illumina plunged, with worries over the make-up of the U.S. Congress after November's election also weighing on stocks. Alcoa
  
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• Wall Street stocks slide, dollar hits eight-month high

  11-10-2016 22:41 via news.yahoo.com
  
  NEW YORK (Reuters) - Slumping crude prices and a dour start to Wall Street's corporate earnings season pulled down U.S. and European equities on Tuesday, while the dollar hit an eight-month high on increasing bets U.S. interest rates will rise in December.
  
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• Wall St sells off on weak earnings, election fears

  11-10-2016 22:39 via news.yahoo.com
  
  Illumina shares plummeted 24.8 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update. Although overall S&P 500 earnings are currently expected to fall 0.7 percent in the third quarter, according to Thomson Reuters data, a typical number of better-than-expected reports would result in a positive quarter. At the same time, investors are bracing for the U.S. Federal Reserve to raise interest rates by the end of the year.
  
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• Wall Street sells off on weak earnings, election fears

  11-10-2016 22:33 via news.yahoo.com
  
  Illumina shares plummeted 24.8 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update. Although overall S&P 500 earnings are currently expected to fall 0.7 percent in the third quarter, according to Thomson Reuters data, a typical number of better-than-expected reports would result in a positive quarter. At the same time, investors are bracing for the U.S. Federal Reserve to raise interest rates by the end of the year.
  
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• TSX falls as U.S. earnings dent sentiment

  11-10-2016 22:15 via news.yahoo.com
  
  TORONTO (Reuters) - Canada's main stock edged lower on Tuesday as a disappointing start to U.S. earnings season weighed, offsetting gains for the shares of energy companies after a recent move higher in oil prices. The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 16.66 points, or 0.11 percent, at 14,549.60. Eight of the index's 10 main groups ended lower. (Reporting by Fergal Smith; Editing by Sandra Maler)
  
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• US stock indexes head sharply lower; oil falls

  11-10-2016 21:38 via news.yahoo.com
  
  U.S. stock indexes were headed for a sharply lower close in late-afternoon trading Tuesday. Health care companies led the broad slide. Energy stocks also tumbled as crude oil prices fell. Disappointing quarterly results and earnings outlooks from companies weighed on the market. Alcoa slumped after its results fell short of Wall Street's expectations.
  
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• In Win for Conservatives, Court Rules Consumer Bureau Unconstitutional

  11-10-2016 21:29 via news.yahoo.com
  
  A federal appeals court on Tuesday ruled that the leadership structure of the Consumer Financial Protection Bureau makes the independent agency -- one of the headline achievements of the Dodd-Frank Wall Street Reform and Consumer Protection Act -- unconstitutional. The three-judge panel of the US District Court of Appeals for the District of Columbia Circuit ruled that because the CFPB is structured as an independent agency, and is managed by a single director rather than a board, it gives too m
  
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• Wall St sells off amid weak earnings, election jitters

  11-10-2016 21:17 via news.yahoo.com
  
  Wall Street sold off on Tuesday as disappointing corporate reports gave a sour tone to the start of earnings season and investors digested possible changing dynamics for the upcoming U.S. elections. Illumina shares plummeted 25.6 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update. Investors have been looking for U.S. corporate earnings to strengthen after four quarters of declines, in order to support relatively high valuations for sto
  
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• Wall Street sells off amid weak earnings, election jitters

  11-10-2016 21:15 via news.yahoo.com
  
  Illumina shares plummeted 25.6 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update. Investors have been looking for U.S. corporate earnings to strengthen after four quarters of declines, in order to support relatively high valuations for stocks. Although overall earnings of S&P 500 companies are currently expected to fall 0.7 percent in the third quarter, according to Thomson Reuters data, a typical number of better-than-expected re
  
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• Wall Street slides, dollar hits 8-month high

  11-10-2016 20:56 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - Slumping crude prices and a dour start to Wall Street's corporate earnings season pulled down U.S. and European equities on Tuesday, while the dollar hit an eight-month high on increasing bets U.S. interest rates will rise in December. Wall Street fell more than 1 percent after shares of aluminum producer Alcoa and diagnostics test maker Illumina plunged, with worries over the make-up of the U.S. Congress after November's election also weighing on stocks. Sha
  
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• Wall Street slides, dollar hits eight-month high

  11-10-2016 20:55 via news.yahoo.com
  
  NEW YORK (Reuters) - Slumping crude prices and a dour start to Wall Street's corporate earnings season pulled down U.S. and European equities on Tuesday, while the dollar hit an eight-month high on increasing bets U.S. interest rates will rise in December.
  
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• China’s Market News: Dollar/Yuan - Next Levels to Look For

  11-10-2016 20:45
  Will Dollar/Yuan rates continue to rise after climbed beyond the key resistance of 6.70?
  
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• USD/JPY Exhaustion Shifts Focus to Uptrend Support

  11-10-2016 20:27
  USD/JPY weakness is to be viewed as an opportunity while within this technical formation. Here are the updated targets & invalidation levels that matter.
  
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• US stock indexes move lower in midday trading; oil falls

  11-10-2016 19:36 via news.yahoo.com
  
  A steep slide in health care companies led U.S. stocks broadly lower in afternoon trading Tuesday. Energy stocks tumbled as the price of crude oil headed lower. Investors now have their eye on Corporate America as companies begin to report earnings over the next few weeks. Alcoa slumped after its earnings fell short of Wall Street's expectations.
  
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• Trump plan would aid Wall St. despite end of carried interest

  11-10-2016 19:30 via news.yahoo.com
  
  By David Morgan WASHINGTON (Reuters) - Republican presidential candidate Donald Trump in Sunday's debate reiterated his promise to kill the "carried interest" tax loophole that benefits hedge fund managers and others - but his tax plan offers other goodies to Wall Street financiers, a nonpartisan tax research group said on Tuesday. Trump and Democratic rival Hillary Clinton's tax plans, which differ greatly, were compared side-by-side in reports by the Tax Policy Center which focused on carried
  
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• Wall Street drops as earnings season begins on dour note

  11-10-2016 19:03 via news.yahoo.com
  
  Alcoa's shares fell nearly 11 percent, their worst day in five years after the aluminum producer reported quarterly revenue and profit that fell short of the market's expectation. All major S&P 500 indexes were lower, with healthcare dropping to its lowest level since the post-Brexit selloff in late June. Markets are likely to be more volatile as the earnings season turns the spotlight on valuations, while a tight race for the White House and a potential U.S. interest rate hike by the year-e
  
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• NZD/USD Losses Accelerate as RBNZ Endorses Dovish Outlook

  11-10-2016 18:45
  NZD/USD stands at risk for further losses as a head-and-shoulders formation appears to be panning out, while the RBNZ endorses a dovish outlook for monetary policy.
  
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• Oil down 2 percent on mixed Russian response to OPEC

  11-10-2016 18:01 via news.yahoo.com
  
  Oil fell almost 2 percent on Tuesday, retreating from one-year highs, after mixed responses by Russian oil industry officials toward an OPEC call for all major crude producers to cut output. The International Energy Agency, the energy watchdog of the West, also said it was unclear how rapidly global oil supply could fall in line with demand even if Russia and the Organization of the Petroleum Exporting Countries agreed on a steep cut. "Net, we find that an agreement to cut production, while incr
  
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• Crude Oil Prices Consolidate After Reaching Monthly Highs

  11-10-2016 18:00
  After breaking out to new highs, Crude Oil prices consolidate under $51.60.
  
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• Dollar hits 11-week high, oil prices slump

  11-10-2016 17:34 via news.yahoo.com
  
  By Herbert Lash NEW YORK (Reuters) - The dollar hit an 11-week high Tuesday on growing expectations U.S. interest rates will rise in December, while crude prices retreated on concerns a proposed cut by the world's largest oil exporters might not be enough to reduce a global supply glut. Stocks on Wall Street opened lower and European shares retreated, as crude oil fell and pulled the UK benchmark FTSE 100 equity index down after it set a record intraday high that was helped by more further sterl
  
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• Wall Street falls as Alcoa's results disappoint

  11-10-2016 17:30 via news.yahoo.com
  
  U.S. stocks fell on Tuesday amid broad declines across sectors after Alcoa kicked off the earnings season on a disappointing note. Alcoa's shares fell nearly 11 percent, their worst day in five years after the aluminum producer reported quarterly revenue and profit that fell short of the market's expectation. All the top S&P 500 indexes were lower, with healthcare stocks falling the most.
  
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• Crude Oil prices slip from 1-year high on mixed Russian response to OPEC

  11-10-2016 16:54 via news.yahoo.com
  
  NEW YORK, Oct (Shenzhen: 000069.SZ - news) 11 (Reuters) - Crude oil prices slipped on Tuesday, retreating from one-year highs, after mixed responses by Russian oil industry officials toward an OPEC call for all major crude producers to cut output. The International Energy Agency, the energy watchdog of the West, also said it unclear how rapidly global oil supply could fall in line with demand even if Russia and the Organization of the Petroleum Exporting Countries agreed on a steep enough cut. "
  
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• Samsung shares slump while London hits highs

  11-10-2016 16:13 via news.yahoo.com
  
  London (AFP) - Shares in Samsung Electronics tumbled Tuesday after the company junked its Note 7 smartphone, while the anaemic pound helped push Britain's stock market to a record high.
  
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• Wells Fargo CFO says accounts scandal won't hit profit much - WSJ

  11-10-2016 16:12 via news.yahoo.com
  
  (Reuters) - Wells Fargo & Co's chief financial officer said efforts by states to penalize its business over an unauthorized-accounts scandal would not affect third-quarter earnings "much", the Wall Street Journal reported, citing a recording of an internal call. John Shrewsberry was recorded as saying the bank would only take "some legal set-asides" but publicizing this "might incentivize people to do more, to make it tougher on Wells Fargo ...," the Journal reported. Wells Fargo representat
  
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• Wells Fargo CFO says accounts scandal won't hit profit much – WSJ

  11-10-2016 16:12 via rocketnews.com
  
  A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake
  More(Reuters) – Wells Fargo & Co’s chief financial officer said efforts by states to penalize its business over an unauthorized-accounts scandal would not affect third-quarter earnings “much”, the Wall Street Journal reported, citing a recording of an internal call.
  John Shrewsberry was recorded as saying the bank would only take “some legal set-asides” b
  
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• Wall Street dragged down by healthcare stocks

  11-10-2016 16:08 via rocketnews.com
  By Yashaswini Swamynathan
  (Reuters) – U.S. stocks fell on Tuesday, dragged down by healthcare companies and Alcoa, which kicked off the earnings season on a disappointing note.
  The S&P 500 healthcare sector dropped 0.71 percent as Illumina’s disappointing results weighed. The company’s stock lost more than a quarter of its value after the diagnostic test maker cut its third-quarter revenue forecast for the second time in a row.
  Alcoa, which unofficially signals the start o
  
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• Dow Jones Industrial Average Winds Up for the Pitch

  11-10-2016 15:44
  With cooler weather embracing United States and the Fall Classic (baseball playoffs) making its way to the television, will this fall season produce a �fall� in Dow Jones Industrial Average?
  
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• Prospect of Preemptive Rate Hikes Continue to Drive the Dollar

  11-10-2016 15:40
  Dollar strength has been rather pervasive since Loretta Mester's comments last week in which she suggested a 'premptive' rate hike in order to stay away from being 'behind the curve.'
  
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• Wall Street opens lower after Alcoa's results

  11-10-2016 15:39 via news.yahoo.com
  
  (Reuters) - U.S. stocks opened lower on Tuesday after Alcoa kicked off the third-quarter earnings season on a disappointing note.
  
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• ’Many Drops Fill a Bucket’: Small Concerns Overwhelm EUR/USD

  11-10-2016 14:40
  There's no one overarching concern for the Euro at the moment; instead, it appears that a myriad of small issues have cropped up and have started to become too great a burden.
  
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• Britain's FTSE 100 stock index hits record as pound tanks

  11-10-2016 14:24 via rocketnews.com
  LONDON (AP) — Britain’s top stock market index, the FTSE 100, struck a record high on Tuesday amid hopes that many of its constituent companies will benefit from the pound’s slide in currency markets.
  While the pound has tanked following the June vote to leave the European Union, most of the FTSE 100 stocks have surged. That inverse relationship was evident again on Tuesday: as the pound fell another 0.9 percent to $1.2250, the FTSE 100 rose 0.5 percent to its new peak of 7,12
  
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• Silver Prices Cooling Off, Dollar Heating Up

  11-10-2016 13:47
  Bounce in silver finds resistance at old support, US dollar looking to continue exerting downward pressure.
  
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• Stock futures fall on weak oil; earnings in focus

  11-10-2016 13:32 via rocketnews.com
  
  Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 6, 2016. REUTERS/Brendan McDermid
  MoreBy Yashaswini Swamynathan
  (Reuters) – U.S. stock index futures were slightly lower on Tuesday as oil prices fell and investors braced for quarterly corporate earnings season.
  (Reporting by Yashaswini Swamynathan in Bengaluru)The post Stock futures fall on weak oil; earnings in focus appeared first on RocketNews |Top News Stories From Around the Globe.
  
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• EUR/GBP Technical Analysis: Digesting After Flash Crash Spike

  11-10-2016 11:40
  The Euro has paused to digest gains after rapidly spiking to the highest level in seven years against the British Pound.
  
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• FTSE 100: Further Strength at the Expense of Sterling

  11-10-2016 11:36
  Currency weakness has translated into stronger stocks for the 100, but will it continue?
  
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• AUD/USD Technical Analysis: 2016 Trend Support at Risk

  11-10-2016 11:23
  The Australian Dollar turned lower against its US counterpart as expected after putting in a bearish Evening Star candlestick pattern near the 0.77 figure.
  
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• Abu Dhabi Islamic Bank expects H2 earnings to match H1 growth -CEO

  11-10-2016 10:31 via rocketnews.com
  
  DUBAI, Oct 11 (Reuters) – The chief executive of Abu Dhabi Islamic Bank (ADIB) expects the bank’s earnings performance in the second half of this year to be similar to the opening six months of 2016.
  The bank reported a 6.9 percent increase in profit in the first quarter of 2016, but its earnings only grew by 1 percent in the three months to June 30.
  Tirad al-Mahmoud also told Reuters in an interview on Tuesday that loan growth would likely remain in single digits in both 2016 and 2
  
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• US Dollar Broadly Higher as Bond Yields Jump After Holiday

  11-10-2016 10:06
  The US Dollar traded broadly higher against the major currencies as bond yields opened sharply higher after the Columbus Day holiday, reflecting firming Fed rate hike bets.
  
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• UK's FTSE 100 and FTSE 250 equity indexes rise, near record highs

  11-10-2016 09:28
  
  LONDON, Oct 11 (Reuters) - Britain's top blue-chip and
  mid-cap equity indexes rose on Tuesday, putting them within
  reach of record highs even as sterling came under renewed
  pressure on currency...
  
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• Asian markets mixed as Russia signals it will cap oil production

  11-10-2016 09:20 via news.yahoo.com
  
  While Asian stock market indices were trading mixed on Tuesday (11 October), the Shanghai Composite was up 0.31% at 3,057.49 as of 5.56am GMT. This follows Russia announcing overnight that it was ready to cap oil production.
  
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• BUZZ-Riyad Bank slides after Q3 earnings miss

  11-10-2016 09:15 via news.yahoo.com
  
  ** Shares in Saudi Arabia's Riyad Bank drop 2.7 percent to 9.15 riyals ** It posted third-quarter net profit of 729 million riyals ($194.4 million), down from 899 million riyals a year ago; cited rising costs ** Analysts polled by Reuters had on average forecast 1.05 billion riyals ** First major Saudi bank to report third-quarter earnings ** Saudi banking sector index edges up 0.2 percent; main stock index rises 0.6 percent (Reporting by Andrew Torchia)
  
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• China banks may need $1.7 trillion injection as credit quality worsens - S&P

  11-10-2016 08:22 via news.yahoo.com
  
  Rising debt levels will worsen the credit profiles of China's top 200 companies this year, requiring the country's banks to raise $1.7 trillion (1.53 trillion pounds) in capital to cover a likely surge in bad loans, S&P Global said in reports published on Tuesday. The study sees little scope for improvement in 2017 amid worsening leverage and substantial excess capacity in almost all sectors. The rating agency estimated the problem credit ratio at Chinese banks was 5.6 percent at the end of
  
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• China banks may need $1.7 trillion injection as credit quality worsens – S&P

  11-10-2016 08:22 via rocketnews.com
  
  HONG KONG (Reuters) – Rising debt levels will worsen the credit profiles of China’s top 200 companies this year, requiring the country’s banks to raise $1.7 trillion (1.53 trillion pounds) in capital to cover a likely surge in bad loans, S&P Global said in reports published on Tuesday.
  The study sees little scope for improvement in 2017 amid worsening leverage and substantial excess capacity in almost all sectors. Seventy percent of the companies surveyed were state owned,
  
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• MIDEAST STOCKS-Oil, QNB earnings may lift Gulf

  11-10-2016 07:53 via news.yahoo.com
  
  Gulf stock markets may be firm on Tuesday after crude oil prices touched one-year highs overnight, while Qatar may get a boost from positive earnings at its largest listed company. Brent oil futures surged as much as 3 percent on Monday and are holding just over $53 a barrel on growing expectations of an output cut by OPEC producers. Shares in the first major bank to report earnings in the region, Qatar National Bank, may be bid up after it reported a 10.2 percent increase in third-quarter net p
  
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• Kuwait Q3 earnings estimates

  11-10-2016 06:25 via news.yahoo.com
  
  Oct 11 (Reuters) - AGILITY - Following is a third-quarter net profit estimate for Agility in millions of dinars. Q3 2016 %change SICO Bahrain 15.10 10.22 Agility reported a net profit of 13.70 million dinars in the third quarter of 2015. ---------------------------------------------------------------- BURGAN BANK - Following are third-quarter net profit estimates for Burgan Bank in millions of dinars. Q3 2016 %change EFG Hermes 16.36 -24.40 HSBC 17.00 -21.44 Burgan Bank reported a net profit of
  
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• Saudi Arabia Q3 earnings estimates

  11-10-2016 06:22 via news.yahoo.com
  
  Oct 11 (Reuters) - ABDULLAH ABDUL MOHSIN AL KHODARI SONS CO. - Following is a third-quarter net profit estimate for Abdullah Abdul Mohsin Al Khodari Sons Co. in millions of riyals Q3 2016 %change EFG Hermes -19.50 Abdullah Abdul Mohsin Al Khodari Sons Co. reported a net loss of 14.28 million riyals in the third quarter of 2015. ---------------------------------------------------------------- ALINMA BANK - Following are third-quarter net profit estimates for Alinma Bank in millions of riyals. Q3
  
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• Takata shares dented by bankruptcy reports

  11-10-2016 05:34 via news.yahoo.com
  
  Takata shares plunged almost 11 percent on Tuesday following reports that the Japanese airbag maker, dented by the auto industry's biggest-ever safety recall, was considering filing for bankruptcy in the United States. The drop came after the Wall Street Journal said the troubled company was "weighing a US bankruptcy filing as one option", as it faces huge compensation costs over a defect linked to 16 deaths and scores of injuries globally. The firm may seek court protection only for its US divi
  
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