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3 Things Under the Radar This Week

January 18, 2019, 08:10

Investing.com - Here’s a look at three things that were under the radar this past week.

1. U.S. Nearing Energy Independence (to Saudi Arabia’s Chagrin)

Saudi Arabia and the rest of OPEC are battling the U.S. for influence on oil prices.

Saudi Energy Minister Khalid al-Falih sent oil prices rallying earlier this month when he said he’ll slice another 100,000 barrels per day in crude exports in February. On the other side, the Energy Information Administration said on Wednesday that U.S. crude production reached 11.9 million bpd last week.

But while headlines on production numbers weighed on market sentiment, another important forecast by the EIA this week went almost unnoticed.

The U.S., which is currently the world's second-largest oil importer after China, may be less than two years away from energy independence.

The U.S. has already virtually achieved the EIA’s 2019 production forecast of 12 million bpd, and the EIA is expecting 13 million bpd by 2020. It also thinks net imports of oil into the U.S. will dwindle to 1.1 million bpd by the end of this year and reach just 100,000 bpd in 2020.

In the final three months of 2020, the EIA thinks the U.S. will become a net exporter by about 900,000 bpd.

While there’s no guarantee all these will happen, the potential loss of the world’s second-largest oil importer will be a huge headache for the Saudis, who are fighting to preserve market share even now as they cut supplies to boost prices.

But if the EIA is right, al-Falih might not have to worry about cutting supplies to the U.S. anymore after 2020 and the U.S. might also be competing to export to the same markets as the Saudis and OPEC.

2. A Rising Netflix Price Lifts All Boats?

Netflix (NASDAQ:NFLX) made a big bet on the strength of its content after hiking U.S. prices. It may have also given its rivals a boost.


Disney , or more accurately its upcoming entertainment streaming service Disney+, is set to benefit, analysts said.

With the launch of Disney+ due this year, Netflix’s price hike increases "the price umbrella" Disney can charge for its streaming service, Loop Capital said.
That may give Disney (NYSE:DIS) shares a boost. They're up just 1.5% this year. Netflix is up nearly 27% even with Friday's slip.

While many will point to Netflix's stellar slate of binge-worthy content as a driver behind its decision to raise prices, Disney boasts an envious and far-wider-reaching lineup. Disney has been in the content game since, well, the days of Walt Disney.

Wall Street and Netflix are confident the company’s price increase will not see a wave of subscribers jump ship. It’s firing on all cylinders and its public profile won some glitz and glamour after it scooped up numerous awards at the Golden Globes. The hit movie “Birdbox” provided further evidence that Netflix's massive cash burn, an estimated $3 billion last year and this year, is bearing fruit (subscribers).

With a full slate of its top shows due this year, including “Stranger Things,” “Orange Is The New Black” and “The Crown,” Netflix has every reason to be confident that customers will stay on the couch and chill.

Looking ahead, a successful Netflix price hike could suggest U.S. consumers feel compelled to pony up for subscriptions services that have become ubiquitous in everyday life. That strengthens the case for other services, including Amazon’s Prime and Apple’s Music service, to join in on the hike, potentially boosting earnings.

3. Loss of a Planet Highlights Stumbling Video Game Makers

A long time ago, in a market far, far away, investors weren’t forced to pay attention to Star Wars. But in the days where content is king and Lucasfilm was worth $4 billion to Disney, it’s wise to be apprised of the happenings of Jedi and Sith.

For example, you may have missed an entire planet (Alderan?) disappearing on Wednesday.

Video game maker Electronic Arts (NASDAQ:EA) has shelved development of an open-world Star Wars game, Kotaku reported.

This sent some ripples through the gaming community given the popularity of open-world games, where players can explore the realm of the game independently, not forced to follow a linear storyline. That leads to hours more gameplay as winning the game becomes relative.

While a disappointment for gamers, investors should also be concerned about what looks like another own-goal from the video game companies. Stocks have been struggling to gain any sort of upward momentum as the major companies -- EA, Activision Blizzard (NASDAQ:ATVI) and Take-Two (NASDAQ:TTWO) Interactive -- keep making headlines for gaffes, not triumphs.

EA, which is down about 20% over the last year, managed to finish Wednesday higher despite the report, but fell Thursday following a downgrade.
Jefferies analyst Timothy O’Shea cut the stock to hold from buy and its price target to $95 from $139, saying the company may have “lost its creative way.”
O’Shea noted that analysts and investors “know next to nothing” about EA’s other Star Wars title “Jedi Fallen Order.”

Shares of EA haven’t recovered from the dive they took late August when the company delayed the release of its much-anticipated “Battlefield V” by a month to make “adjustments.”

Rival Activision, which is down 30% in the last 12 months, has had its share of blunders, losing the CFOs of its Activision and Blizzard divisions back to back and having to let go of its underperforming “Destiny” franchise.

Even Take-Two, which had a big success with “Red Dead Redemption 2” -- lauded as an excellent open-world game -- is down 8% over the last 12 months.

The company was forced to respond to sharp criticism of the way the economy worked in the beta version of “Red Dead Online,” which was to be a strong source of revenue from microtransactions. Critics said the online version was released too early and forced players to use too much real-world currency to enhance gameplay.

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Stocks - Dow Soars on Easing U.S.-China Tensions

January 18, 2019, 08:45

Investing.com – The Dow soared Friday, led by industrials, on optimism that China and United States would find a way to end their bitter trade dispute.

The Dow Jones Industrial Average rose 1.38%. The S&P 500 added 1.30%, while the Nasdaq Composite climbed 1.03%.

China offered to boost annual imports of U.S. goods by a combined value of more than $1 trillion in a bid to cut its surplus with the U.S., Bloomberg reported.

The news stoked investor optimism that China and United States will resolve their differences on trade.

The months-long trade war is on ice until March 1, after which, in the absence of an agreement, the U.S. could raise duties on imports from China to 25% from 10%.

The positive optimism on trade, added strength to industrials, which were already rising thanks to gains in trucking company JB Hunt (NASDAQ:JBHT).

JB Hunt reported fourth-quarter earnings of 81 cents a share, well below expectations for earnings of $1.50 a share, while revenue of $2.32 billion was modestly above estimates of $2.31 billion. Its shares rose 6%.

Energy names also supported the broader market, gaining more than 1% on the back of a 3.2% surge in U.S. oil prices. The rosier outlook on trade eased concerns about slowing crude demand.

Elsewhere on the earnings front, VF Corporation (NYSE:VFC)., owner of brands including Vans and The North Face, delivered above-consensus earnings and guidance, sending its share price more than 12% higher.

That helped ease some of the recent pain in the beaten-down retail sector, which is down 7% over the past year. Macy's (NYSE:M), Nordstrom Inc (NYSE:JWN) and L Brands (NYSE:LB) ended day higher.

Energy names also supported the broader market, gaining more than 1% on the back of rising oil prices as a rosier outlook on trade eased concerns about slowing crude demand.

In tech, meanwhile, Netflix (NASDAQ:NFLX)'s 4% drubbing was offset by bullish showing for other FANG stocks as Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL) NASDAQ:GOOG) and Facebook (NASDAQ:FB) closed in the green.

Stocks were also supported by remarks from New York Federal Reserve President John Williams.

New York Federal Reserve Bank President John Williams urged the Fed to exercise "prudence, patience, and good judgment," before hiking rates. The remarks helped further reduce investor concerns the Fed may overshoot policy tightening.

In other corporate news, Tesla (NASDAQ:TSLA) slumped 13% after it said it will cut its workforce by 7% to drive cost savings as it seeks to produce a cheaper model 3. Analysts, however, said the move was "not unreasonable" as the automaker had completed the labor-intensive of its model 3 production ramp.

"We think the workforce cut is not unreasonable, as the company ramped hiring during the Model 3 production ramp and has now likely completed the labor-intensive portion" of the cutting, Baird said in a client note.

Top S&P 500 Gainers and Losers Today:

Pacific Gas & Electric Co (NYSE:PCG), VF Corp.(NYSE:VFC), Schlumberger (NYSE:SLB) and Western Digital (NASDAQ:WDC) were among the top S&P 500 gainers for the session.

CarMax (NYSE:KMX), Netflix (NASDAQ:NFLX) and Fortinet (NASDAQ:FTNT) among the worst S&P 500 performers of the session.

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Mexico stocks higher at close of trade; S&P/BMV IPC up 0.74%

January 18, 2019, 09:29

Investing.com – Mexico stocks were higher after the close on Friday, as gains in the Financial Services, Materials and Telecoms Services sectors led shares higher.

At the close in Mexico, the S&P/BMV IPC gained 0.74% to hit a new 1-month high.

The best performers of the session on the S&P/BMV IPC were Cemex SAB de CV (MX:CMXCPO), which rose 2.79% or 0.290 points to trade at 10.690 at the close. Meanwhile, Grupo Financiero Banorte (MX:GFNORTEO) added 2.36% or 2.510 points to end at 108.880 and Grupo Aeroportuario del Pacifico SAB De CV Class B (MX:GAPB) was up 2.27% or 3.99 points to 179.46 in late trade.

The worst performers of the session were Gentera SAB de CV (MX:GENTERA), which fell 4.57% or 0.670 points to trade at 13.980 at the close. Alsea , S.A.B. De C.V. (MX:ALSEA) declined 2.94% or 1.570 points to end at 51.750 and GMexico Transportes SA de CV (MX:GMXT) was down 1.86% or 0.520 points to 27.490.

Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 218 to 92 and 10 ended unchanged.

Gold Futures for February delivery was down 0.91% or 11.75 to $1280.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 3.32% or 1.73 to hit $53.80 a barrel, while the March Brent oil contract rose 2.44% or 1.49 to trade at $62.67 a barrel.

USD/MXN was up 0.45% to 19.0960, while EUR/MXN rose 0.19% to 21.6999.

The US Dollar Index Futures was up 0.32% at 96.018.

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Canada stocks higher at close of trade; S&P/TSX Composite up 0.60%

January 18, 2019, 09:25

Investing.com – Canada stocks were higher after the close on Friday, as gains in the Clean Technology, IT and Healthcare sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite rose 0.60% to hit a new 1-month high.

The best performers of the session on the S&P/TSX Composite were Cronos Group Inc (TO:CRON), which rose 8.71% or 1.5800 points to trade at 19.7300 at the close. Meanwhile, NFI Group Inc (TO:NFI) added 7.77% or 2.25 points to end at 31.19 and Descartes Systems Group Inc (TO:DSG) was up 3.49% or 1.35 points to 40.07 in late trade.

The worst performers of the session were New Gold Inc (TO:NGD), which fell 6.57% or 0.090 points to trade at 1.280 at the close. OceanaGold Corporation (TO:OGC) declined 6.53% or 0.310 points to end at 4.440 and Eldorado Gold Corp (TO:ELD) was down 5.60% or 0.21 points to 3.54.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 575 to 544 and 110 ended unchanged.

Shares in Cronos Group Inc (TO:CRON) rose to all time highs; rising 8.71% or 1.5800 to 19.7300. Shares in Eldorado Gold Corp (TO:ELD) fell to 52-week lows; falling 5.60% or 0.21 to 3.54.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 0.35% to 16.89 a new 1-month low.

Gold Futures for February delivery was down 0.92% or 11.95 to $1280.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 3.30% or 1.72 to hit $53.79 a barrel, while the March Brent oil contract rose 2.42% or 1.48 to trade at $62.66 a barrel.

CAD/USD was up 0.02% to 0.7532, while CAD/EUR rose 0.30% to 0.6627.

The US Dollar Index Futures was up 0.32% at 96.018.

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U.S. stocks higher at close of trade; Dow Jones Industrial Average up 1.38%

January 18, 2019, 09:25

Investing.com – U.S. stocks were higher after the close on Friday, as gains in the Oil&Gas, Industrials and Basic Materials sectors led shares higher.

At the close in NYSE, the Dow Jones Industrial Average rose 1.38% to hit a new 1-month high, while the S&P 500 index gained 1.32%, and the NASDAQ Composite index added 1.03%.

The best performers of the session on the Dow Jones Industrial Average were Home Depot Inc (NYSE:HD), which rose 2.69% or 4.71 points to trade at 179.58 at the close. Meanwhile, UnitedHealth Group Incorporated (NYSE:UNH) added 2.21% or 5.73 points to end at 265.50 and Caterpillar Inc (NYSE:CAT) was up 2.18% or 2.92 points to 136.60 in late trade.

The worst performers of the session were Walt Disney Company (NYSE:DIS), which rose 0.03% or 0.03 points to trade at 111.04 at the close. Pfizer Inc (NYSE:PFE) added 0.14% or 0.06 points to end at 42.53 and Merck&Company Inc (NYSE:MRK) was up 0.36% or 0.27 points to 75.87.

The top performers on the S&P 500 were Pacific Gas&Electric Co (NYSE:PCG) which rose 13.68% to 7.23, VF Corporation (NYSE:VFC) which was up 12.39% to settle at 82.34 and Schlumberger NV (NYSE:SLB) which gained 8.12% to close at 44.73.

The worst performers were CarMax Inc (NYSE:KMX) which was down 4.09% to 61.92 in late trade, Netflix Inc (NASDAQ:NFLX) which lost 3.99% to settle at 339.10 and LKQ Corporation (NASDAQ:LKQ) which was down 2.42% to 26.25 at the close.

The top performers on the NASDAQ Composite were Ascent Capital Group Inc (NASDAQ:ASCMA) which rose 42.79% to 0.61, Avalon Globocare Corp (NASDAQ:AVCO) which was up 34.94% to settle at 5.600 and Ultra Petroleum Corp (NASDAQ:UPL) which gained 29.87% to close at 0.995.

The worst performers were Organogenesis Holdings Inc (NASDAQ:ORGO) which was down 44.82% to 30.350 in late trade, Tyme Technologies Inc (NASDAQ:TYME) which lost 35.39% to settle at 2.41 and Bio Path Holdings Inc (NASDAQ:BPTH) which was down 30.56% to 1.750 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 2234 to 834 and 76 ended unchanged; on the Nasdaq Stock Exchange, 1806 rose and 841 declined, while 83 ended unchanged.

Shares in Avalon Globocare Corp (NASDAQ:AVCO) rose to all time highs; up 34.94% or 1.450 to 5.600.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was down 1.44% to 17.80 a new 1-month low.

Gold Futures for February delivery was down 0.92% or 11.95 to $1280.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 3.30% or 1.72 to hit $53.79 a barrel, while the March Brent oil contract rose 2.42% or 1.48 to trade at $62.66 a barrel.

EUR/USD was down 0.25% to 1.1366, while USD/JPY rose 0.43% to 109.70.

The US Dollar Index Futures was up 0.32% at 96.018.

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PNC Financial Rises 3%

January 18, 2019, 09:01

Investing.com - PNC Financial (NYSE:PNC) rose by 3.12% to trade at $125.69 by 16:00 (21:00 GMT) on Friday on the NYSE exchange.

The volume of PNC Financial shares traded since the start of the session was 2.88M. PNC Financial has traded in a range of $121.93 to $125.69 on the day.

The stock has traded at $125.2800 at its highest and $117.1700 at its lowest during the past seven days.

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Brazil stocks higher at close of trade; Bovespa up 0.79%

January 18, 2019, 08:25

Investing.com – Brazil stocks were higher after the close on Friday, as gains in the Basic Materials, Financials and Industrials sectors led shares higher.

At the close in Sao Paulo, the Bovespa gained 0.79% to hit a new all time high.

The best performers of the session on the Bovespa were Natura Cosmeticos SA (SA:NATU3), which rose 5.81% or 2.53 points to trade at 46.05 at the close. Meanwhile, Centrais Eletricas Brasileiras SA (SA:ELET6) added 5.22% or 1.77 points to end at 35.69 and Centrais Eletricas Brasileiras SA (SA:ELET3) was up 4.56% or 1.41 points to 32.36 in late trade.

The worst performers of the session were Embraer SA (SA:EMBR3), which fell 2.93% or 0.60 points to trade at 19.87 at the close. Smiles Fidelidade SA (SA:SMLS3) declined 2.63% or 1.14 points to end at 42.20 and Kroton Educacional SA (SA:KROT3) was down 2.48% or 0.26 points to 10.21.

Rising stocks outnumbered declining ones on the BM&FBovespa Stock Exchange by 257 to 171 and 42 ended unchanged.

Shares in Centrais Eletricas Brasileiras SA (SA:ELET6) rose to all time highs; up 5.22% or 1.77 to 35.69. Shares in Centrais Eletricas Brasileiras SA (SA:ELET3) rose to all time highs; gaining 4.56% or 1.41 to 32.36.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was down 4.02% to 30.05 a new 6-months low.

Gold Futures for February delivery was down 0.87% or 11.25 to $1281.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 3.32% or 1.73 to hit $53.80 a barrel, while the March US coffee C contract rose 2.98% or 3.05 to trade at $105.45 .

USD/BRL was up 0.04% to 3.7517, while EUR/BRL fell 0.21% to 4.2637.

The US Dollar Index Futures was up 0.34% at 96.042.

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Colombia stocks lower at close of trade; COLCAP down 0.02%

January 18, 2019, 08:15

Investing.com – Colombia stocks were lower after the close on Friday, as losses in the Industrials, Investment and Agriculture sectors led shares lower.

At the close in Colombia, the COLCAP declined 0.02%.

The best performers of the session on the COLCAP were Banco De Bogota SA (CN:BBO), which rose 3.21% or 1800.0 points to trade at 57900.0 at the close. Meanwhile, Cemex Latam Holdings SA (CN:CLH) added 2.33% or 100.0 points to end at 4400.0 and Corporacion Financiera Colombiana SA (CN:CFV) was up 1.82% or 300.0 points to 16780.0 in late trade.

The worst performers of the session were Avianca Holdings Pf (CN:AVT_p), which fell 2.41% or 45.0 points to trade at 1820.0 at the close. Canacol Energy Ltd (CN:CNE) declined 1.37% or 140.0 points to end at 10080.0 and Almacenes Exito SA (CN:IMI) was down 0.93% or 120.0 points to 12820.0.

Falling stocks outnumbered advancing ones on the Colombia Stock Exchange by 12 to 9 and 4 ended unchanged.

US coffee C for March delivery was up 2.98% or 3.05 to $105.45 . Elsewhere in commodities trading, US cocoa for delivery in March fell 1.22% or 28.50 to hit $2306.50 , while the February Gold Futures contract fell 0.88% or 11.35 to trade at $1280.95 a troy ounce.

USD/COP was down 0.20% to 3124.00, while BRL/COP fell 0.43% to 832.51.

The US Dollar Index Futures was up 0.34% at 96.037.

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Top Gainers: VF Corporation, Schlumberger, Western Digital Soar

January 18, 2019, 07:48

Investing.com -- VF Corporation, Schlumberger and Western Digital were in rally mode Friday, underpinning the broader market.

VF Corporation (NYSE:VFC), an apparel, footwear and accessories manufacturer, topped fiscal third-quarter estimates on both bottom and top lines, sending its shares soaring 12% higher.

The maker of Vans shoes reported fiscal third-quarter adjusted earnings of $1.31 per share on $3.94 billion in revenue, handling beating estimates for earnings of $1.10 a share on $3.87 billion in revenue.

Expectations for full-year earnings were raised to $3.73 a share from $3.65, above Wall Street estimates of $3.68.

Oilfield services company Schlumberger (NYSE:SLB) rose 8% after its fourth-quarter revenue topped expectations.

Earnings of $0.36 a share was in line with consensus estimates, while revenue of $8.2 billion was ahead of estimates of $8.1 billion.

The beat on the top line appeared to overshadow the company's cautious outlook on growth 2019.

"The recent oil price volatility has introduced more uncertainty around the E&P spending outlook for 2019, with customers generally taking a more conservative approach at the start of the year," said CEO Paal Kibsgaard.

Western Digital (NASDAQ:WDC), meanwhile, shrugged off a bearish note from Wall Street as its shares climbed 8%, supported by a risk-on move in the broader market on growing optimism on U.S.-China trade.

RBC cut its price target on shares of Western Digital to $40 from $48, on worries about a slowdown in hard drives sales.

The S&P 500 rose more than 1% after China offered to boost its annual imports of U.S. goods by a combined value of more than $1 trillion, according to a report from Bloomberg.

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Oil Rises 3% on 'Visible' OPEC Cuts; IEA Suggests 'Gradual' Recovery

January 18, 2019, 05:22

Investing.com - Sharp bouts of price gains are likely in oil as Saudi Arabia ratchets up efforts to raise the visibility of OPEC's output cuts. But patience may also be key for oil producers, with the West's energy watchdog anticipating any market recovery to be more gradual than immediate.

Futures of New York-traded West Texas Intermediate crude and London's Brent jumped about 3% or more on Friday as the OPEC+ alliance of 25 oil producers listed cuts by each country in the group to address market concerns that the supply-demand rebalancing of the past six weeks lacked transparency. OPEC+ has committed to cut at least 1.2 million barrels per day through this year and the Saudis have hinted they will do more to get to $80 per barrel.

WTI settled up $1.73, or 3.3%, $53.80 per barrel, hitting a six-week high of $53.90.

Brent, the global oil benchmark, rose by $1.50, or 2.5%, to $62.68 by 2:30 PM ET (19:30 GMT). It also hit a six-week peak intraday trading, reaching $63.

For the week, both benchmarks rose about 4%.

On top of that, WTI is up nearly 19% on the year and 27% higher from its Christmas Eve low of $42.36. Brent is showing a near-17% gain year to date.

Friday's rally was also spurred by a Bloomberg report that the Saudi and Russian energy ministers had spoken on the phone Monday and that Moscow was trying to accelerate its contribution to the OPEC+ cuts and make them run more "smoothly". The Russian minister Alexander Novak was quoted saying that he would try to discuss the cuts with his Saudi counterpart Khalid al-Falih at the Jan. 22-25 Davos World Economic Forum.

Production cuts aside, another boost for crude futures came from a Bloomberg report that China, the world's largest oil buyer, had offered to raise its annual imports from the U.S. by more than $1 trillion to offset their trade war. But Trade Representative Robert Lighthizer was also reported to be resisting the offer as Beijing planned to make the upgrade over a six-year period, rather than instantly, as preferred by the Trump administration.

Higher prices of stocks on Wall Street also helped oil, with the three main U.S. equity indexes all showing gains of more than 1% each.

Oil was slower to rally in Asian and European trading after the International Energy Agency said it expected the market rebalancing to be gradual despite OPEC cuts, as the U.S. in 2019 “will reinforce its leadership as the world’s number one crude producer”.

“The journey to a balanced market will take time, and is more likely to be a marathon than a sprint,” the Paris-based IEA, which looks over the interest of Western oil consumers, said in its monthly oil market report.

Scott Shelton, ICAP (LON:NXGN)'s Durham, N.C.-based energy futures broker and commentator, agreed, calling the IEA report "a good synopsis of the market".

The Energy Information Administration said that U.S. crude production had reached 11.9 million bpd as of last week, one million more than averaged in 2018. It is now forecasting an output of 13 million bpd by 2020 and for the U.S. to become a net exporter of oil by then.

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Dollar Set to Snap Four-Week Losing Streak amid Trade Optimism

January 18, 2019, 07:08

Investing.com – The dollar was set to snap a four-week losing streak against its rivals Friday, on the back of a decline in the Japanese yen. The gains come amid growing investor optimism over a U.S-China trade deal after Chinese officials reportedly offered to boost U.S. imports.

The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.27% to 95.97.

China offered to boost annual imports of U.S. goods by a combined value of more than $1 trillion in a bid to cut its surplus with the U.S., Bloomberg reported.

The news fueled investor hopes that the stalemate between the U.S. and China may be resolved sooner rather later, prompting a rally in risk assets, which kept the safe-haven yen on its back foot.

USD/JPY rose 0.46% to Y109.74.

The dollar was also lifted by U.S. industrial production data that topped economists' forecasts. U.S. manufacturing output rose by 0.3% last month, beating economists' forecasts for a 0.2% rise.

Elsewhere, the pound gave back some of the gains against the greenback seen in the wake of the U.K. parliament's rejection of the government's Brexit deal.

USD/GBP fell 0.75% to $1.2887, but remained on track to post its fifth-weekly rise.

EUR/USD fell 0.26% to $1.1367, and the pair could be set for a further slide as analysts sound the alarm on Euro-area weakness. That could force the European central bank to turn more dovish in March.

"We continue to think the ECB will have to give us some sweeteners come March," Bank of America Merrill Lynch (NYSE:BAC) said.

USD/CAD fell 0.11% to C$1.3263 as a rally in oil prices and stronger-than-expected Canada inflation data supported the loonie, limiting gains in the pair.

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Palladium Dips Amid Chorus for Correction; Gold Slides Too

January 18, 2019, 07:10

Investing.com - Palladium's rally has spawned calls for record highs above $1,500, but the auto-catalyst metal may run out of gas first and fall into a range for a while, just like gold.

Used for purifying auto emissions, palladium dropped $17.75, or 1.3%, on its spot price on Friday to trade at $1,382.65 per ounce by 2:00 PM ET (19:00 GMT). On Thursday, it hit all-time highs of $1,440.35, making it the world's most valuable metal.

In futures trade, the benchmark March palladium contract on the New York Mercantile Exchange's Comex settled down $13.10, or 1%, at $1,335.10.

Since surpassing gold's 2019 highs of above $1,300 on Jan. 4, palladium's spot price renewed its highs at the top five more times, culminating in Thursday's run above $1,400 for the first time.

Gold has treaded water in a broad $1,285 to $1,295 range after a Jan. 4 peak of $1,300.40 on its spot price.

The spot price of gold, or bullion, was down $9.66, or 0.8%, at 1,282.37 by 2:00 PM ET.

On Comex, February gold futures settled down $9.75, or 0.8%, at $1,282.60.

Palladium's run-up has been fueled by stimulus measures aimed at boosting car ownership in China. Also helping was a projection by Metals Focus that supplies will remain in deficit this year for an eighth-straight year.

Even so, the auto-catalyst metal's near-10% gain since the start of the year -- and 70% jump since August -- may be overdone, some say.

"Looking at how high far we have progressed and how fast, the price of palladium is way overdue for a correction, especially if the news stories start to dry up" on its supply shortage, said Walter Pehowich, industry analyst and executive vice-president at Dillon Gage Metals in Addison, Texas.

Pehowich said estimates for 2019 palladium short supply range from as low as 250,000 ounces to a high of 1 million ounces "depending on who you talk to".

"If fresh metal comes into the market place ... a sell off could occur," he added. "And that’s what I expect to happen."

In other precious metals on Comex, silver futures slid by 15 cents, or 1%, to $15.39 per ounce.

In base metals,copper rose 3.4 cents, or 1.3%, to $2.71 per pound.

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MarketPulse: JB Hunt Shrugs off Mixed Results, Boosting Industrials

January 18, 2019, 05:52

Investing.com - JB Hunt Transport soared on Friday, powering industrials higher, despite the trucking company reporting mixed fourth-quarter results.

JB Hunt Transport Services (NASDAQ:JBHT) reported fourth-quarter earnings of 81 cents a share, well below expectations for earnings of $1.50 a share, while revenue of $2.32 billion was modestly above estimates of $2.31 billion. Its shares rose 6%.

Kansas City Southern (NYSE:KSU), meanwhile, climbed 5% after its fourth-quarter results topped analysts' estimates.

It reported earnings of $1.59 a share on revenue of $694 million, topping estimates for earnings of $1.55 on revenue of $691.2 million.

Following the results, some analysts said they expected the company to build on the success of 2018 and deliver improved productivity and margins.

"Overall, we see results in 2019 benefiting from good commodity growth and efforts to improve productivity and operating margins," said CFRA, an independent research provider.

The trade-sensitive industrials were also supported by optimism on U.S.-China trade. Chinese officials offered to boost its annual imports of U.S. goods by a combined value of more than $1 trillion, Bloomberg reported.

S&P 500 Industrials rose 2% for the day, though remain down about 11.6% over the past year.

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Portugal stocks higher at close of trade; PSI 20 up 0.76%

January 18, 2019, 05:45

Investing.com – Portugal stocks were higher after the close on Friday, as gains in the Technology, Basic Materials and Consumer Services sectors led shares higher.

At the close in Lisbon, the PSI 20 added 0.76% to hit a new 3-months high.

The best performers of the session on the PSI 20 were Altri SGPS (LS:ALSS), which rose 2.97% or 0.2000 points to trade at 6.9300 at the close. Meanwhile, Mota Engil (LS:MOTA) added 2.67% or 0.0460 points to end at 1.7700 and Ibersol SGPS (LS:IBS) was up 2.62% or 0.220 points to 8.620 in late trade.

The worst performers of the session were Banco Comercial Portugues (LS:BCP), which fell 0.41% or 0.0010 points to trade at 0.2427 at the close. EDP Renovaveis (LS:EDPR) added 0.19% or 0.0150 points to end at 7.9500 and Sonae Capital (LS:SONAC) was up 0.23% or 0.0020 points to 0.8660.

Rising stocks outnumbered declining ones on the Lisbon Stock Exchange by 25 to 4 and 5 ended unchanged.

Brent oil for March delivery was up 2.12% or 1.30 to $62.48 a barrel. Elsewhere in commodities trading, Crude oil for delivery in February rose 2.88% or 1.50 to hit $53.57 a barrel, while the February Gold Futures contract fell 0.75% or 9.75 to trade at $1282.55 a troy ounce.

EUR/USD was down 0.30% to 1.1361, while EUR/GBP rose 0.54% to 0.8818.

The US Dollar Index Futures was up 0.34% at 96.037.

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Altria Rises 3%

January 18, 2019, 05:41

Investing.com - Altria (NYSE:MO) rose by 3.04% to trade at $48.49 by 12:40 (17:40 GMT) on Friday on the NYSE exchange.

The volume of Altria shares traded since the start of the session was 6.07M. Altria has traded in a range of $47.30 to $48.49 on the day.

The stock has traded at $49.9600 at its highest and $46.6600 at its lowest during the past seven days.

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Denmark stocks higher at close of trade; OMX Copenhagen 20 up 0.92%

January 18, 2019, 05:35

Investing.com – Denmark stocks were higher after the close on Friday, as gains in the Personal&Household Goods, Oil&Gas and Consumer Goods sectors led shares higher.

At the close in Copenhagen, the OMX Copenhagen 20 gained 0.92%.

The best performers of the session on the OMX Copenhagen 20 were Pandora A/S (CO:PNDORA), which rose 5.73% or 14.9 points to trade at 275.1 at the close. Meanwhile, ISS A/S (CO:ISS) added 3.18% or 6.00 points to end at 194.60 and Vestas Wind Systems A/S (CO:VWS) was up 2.21% or 11.2 points to 518.6 in late trade.

The worst performers of the session were Genmab (CO:GEN), which fell 2.91% or 30.5 points to trade at 1018.5 at the close. Chr. Hansen Holding A/S (CO:CHRH) declined 0.87% or 5.4 points to end at 614.4 and Danske Bank A/S (CO:DANSKE) was down 0.71% or 0.9 points to 126.5.

Rising stocks outnumbered declining ones on the Copenhagen Stock Exchange by 76 to 42 and 22 ended unchanged.

Crude oil for February delivery was up 2.90% or 1.51 to $53.58 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 2.19% or 1.34 to hit $62.52 a barrel, while the February Gold Futures contract fell 0.76% or 9.85 to trade at $1282.45 a troy ounce.

USD/DKK was up 0.29% to 6.5730, while EUR/DKK fell 0.03% to 7.4649.

The US Dollar Index Futures was up 0.33% at 96.028.

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Spain stocks higher at close of trade; IBEX 35 up 1.80%

January 18, 2019, 05:35

Investing.com – Spain stocks were higher after the close on Friday, as gains in the Telecoms&IT, Financial Services&Real Estate and Building&Construction sectors led shares higher.

At the close in Madrid, the IBEX 35 gained 1.80% to hit a new 1-month high.

The best performers of the session on the IBEX 35 were Mediaset ESP (MC:TL5), which rose 5.55% or 0.304 points to trade at 5.780 at the close. Meanwhile, Amadeus IT (MC:AMA) added 3.54% or 2.220 points to end at 65.000 and ArcelorMittal SA (MC:MTS) was up 3.44% or 0.666 points to 20.020 in late trade.

The worst performers of the session were Tecnicas Reunidas (MC:TRE), which fell 0.98% or 0.220 points to trade at 22.220 at the close. Caixabank SA (MC:CABK) declined 0.24% or 0.008 points to end at 3.310 and Red Electrica Corporacion SA (MC:REE) was up 0.05% or 0.010 points to 19.660.

Rising stocks outnumbered declining ones on the Madrid Stock Exchange by 131 to 42 and 15 ended unchanged.

Gold Futures for February delivery was down 0.78% or 10.05 to $1282.25 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 2.90% or 1.51 to hit $53.58 a barrel, while the March Brent oil contract rose 2.19% or 1.34 to trade at $62.52 a barrel.

EUR/USD was down 0.32% to 1.1358, while EUR/GBP rose 0.45% to 0.8810.

The US Dollar Index Futures was up 0.33% at 96.030.

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France stocks higher at close of trade; CAC 40 up 1.70%

January 18, 2019, 05:35

Investing.com – France stocks were higher after the close on Friday, as gains in the Utilities, Technology and Consumer Services sectors led shares higher.

At the close in Paris, the CAC 40 rose 1.70% to hit a new 1-month high, while the SBF 120 index climbed 1.75%.

The best performers of the session on the CAC 40 were Atos SE (PA:ATOS), which rose 4.87% or 3.42 points to trade at 73.66 at the close. Meanwhile, STMicroelectronics NV (PA:STM) added 4.38% or 0.540 points to end at 12.860 and TechnipFMC PLC (PA:FTI) was up 3.98% or 0.80 points to 20.88 in late trade.

The worst performers of the session were Sodexo (PA:EXHO), which fell 1.07% or 1.02 points to trade at 94.16 at the close. Sanofi SA (PA:SASY) declined 1.07% or 0.79 points to end at 72.92 and EssilorLuxottica SA (PA:ESLX) was down 0.04% or 0.05 points to 112.05.

The top performers on the SBF 120 were Eurofins Scientific (PA:EUFI) which rose 8.70% to 359.80, Casino Guichard (PA:CASP) which was up 8.29% to settle at 39.19 and Sopra Steria Group SA (PA:SOPR) which gained 7.13% to close at 88.70.

The worst performers were Technicolor (PA:TCH) which was down 1.66% to 1.009 in late trade, Alstom SA (PA:ALSO) which lost 1.60% to settle at 34.45 and DBV Technologies (PA:DBV) which was down 1.27% to 12.420 at the close.

Rising stocks outnumbered declining ones on the Paris Stock Exchange by 396 to 185 and 89 ended unchanged.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was down 5.17% to 14.84 a new 3-months low.

Gold Futures for February delivery was down 0.77% or 9.95 to $1282.35 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 2.90% or 1.51 to hit $53.58 a barrel, while the March Brent oil contract rose 2.19% or 1.34 to trade at $62.52 a barrel.

EUR/USD was down 0.32% to 1.1359, while EUR/GBP rose 0.45% to 0.8810.

The US Dollar Index Futures was up 0.33% at 96.025.

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Netherlands stocks higher at close of trade; AEX up 1.97%

January 18, 2019, 05:35

Investing.com – Netherlands stocks were higher after the close on Friday, as gains in the Basic Materials, Consumer Goods and Telecoms sectors led shares higher.

At the close in Amsterdam, the AEX rose 1.97% to hit a new 1-month high.

The best performers of the session on the AEX were ASML Holding NV (AS:ASML), which rose 3.91% or 5.38 points to trade at 142.88 at the close. Meanwhile, ArcelorMittal SA (AS:MT) added 3.46% or 0.670 points to end at 20.010 and ING Groep NV (AS:INGA) was up 3.38% or 0.342 points to 10.454 in late trade.

The worst performers of the session were Galapagos NV (AS:GLPG), which fell 0.86% or 0.800 points to trade at 92.180 at the close. Gemalto (AS:GTO) added 0.04% or 0.02 points to end at 50.70 and Wolters Kluwer (AS:WLSNc) was up 0.26% or 0.14 points to 53.36.

Rising stocks outnumbered declining ones on the Amsterdam Stock Exchange by 108 to 26 and 7 ended unchanged.

The AEX Volatility, which measures the implied volatility of AEX options, was down 5.83% to 14.20 a new 3-months low.

Crude oil for February delivery was up 2.94% or 1.53 to $53.60 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 2.22% or 1.36 to hit $62.54 a barrel, while the February Gold Futures contract fell 0.77% or 9.95 to trade at $1282.35 a troy ounce.

EUR/USD was down 0.30% to 1.1361, while EUR/GBP rose 0.44% to 0.8810.

The US Dollar Index Futures was up 0.32% at 96.023.

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Italy stocks higher at close of trade; Investing.com Italy 40 up 1.11%

January 18, 2019, 05:35

Investing.com – Italy stocks were higher after the close on Friday, as gains in the Technology, Oil&Gas and Healthcare sectors led shares higher.

At the close in Milan, the Investing.com Italy 40 rose 1.11% to hit a new 3-months high.

The best performers of the session on the Investing.com Italy 40 were STMicroelectronics (MI:STM), which rose 4.47% or 0.550 points to trade at 12.860 at the close. Meanwhile, Leonardo SpA (MI:LDOF) added 3.98% or 0.302 points to end at 7.894 and Saipem SpA (MI:SPMI) was up 3.96% or 0.1530 points to 4.0160 in late trade.

The worst performers of the session were Telecom Italia (MI:TLIT), which fell 7.20% or 0.0379 points to trade at 0.4885 at the close. Banco Bpm SpA (MI:BAMI) declined 1.88% or 0.036 points to end at 1.857 and Bper Banca SpA (MI:EMII) was down 0.59% or 0.018 points to 3.055.

Rising stocks outnumbered declining ones on the Milan Stock Exchange by 247 to 113 and 36 ended unchanged.

Crude oil for February delivery was up 2.92% or 1.52 to $53.59 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 2.19% or 1.34 to hit $62.52 a barrel, while the February Gold Futures contract fell 0.77% or 9.95 to trade at $1282.35 a troy ounce.

EUR/USD was down 0.32% to 1.1359, while EUR/GBP rose 0.44% to 0.8810.

The US Dollar Index Futures was up 0.32% at 96.023.

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Finland stocks higher at close of trade; OMX Helsinki 25 up 1.22%

January 18, 2019, 05:30

Investing.com – Finland stocks were higher after the close on Friday, as gains in the Technology, Industrials and Financials sectors led shares higher.

At the close in Helsinki, the OMX Helsinki 25 added 1.22% to hit a new 1-month high.

The best performers of the session on the OMX Helsinki 25 were Outokumpu Oyj (HE:OUT1V), which rose 4.31% or 0.1670 points to trade at 4.0440 at the close. Meanwhile, Outotec Oyj (HE:OTE1V) added 3.86% or 0.138 points to end at 3.710 and Metsa Board Oyj B (HE:METSB) was up 3.22% or 0.195 points to 6.250 in late trade.

The worst performers of the session were DNA Oyj (HE:DNAO), which fell 0.82% or 0.1500 points to trade at 18.0700 at the close. Huhtamaki Oyj (HE:HUH1V) declined 0.39% or 0.11 points to end at 27.99 and Amer Sports Corporation (HE:AMEAS) was 0.00% or 0.00 points to 38.85.

Rising stocks outnumbered declining ones on the Helsinki Stock Exchange by 101 to 47 and 19 ended unchanged.

Brent oil for March delivery was up 2.29% or 1.40 to $62.58 a barrel. Elsewhere in commodities trading, Crude oil for delivery in February rose 3.00% or 1.56 to hit $53.63 a barrel, while the February Gold Futures contract fell 0.78% or 10.05 to trade at $1282.25 a troy ounce.

EUR/USD was down 0.31% to 1.1360, while EUR/GBP rose 0.47% to 0.8812.

The US Dollar Index Futures was up 0.32% at 96.023.

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Belgium stocks higher at close of trade; BEL 20 up 1.57%

January 18, 2019, 05:20

Investing.com – Belgium stocks were higher after the close on Friday, as gains in the Consumer Goods, Utilities and Industrials sectors led shares higher.

At the close in Brussels, the BEL 20 added 1.57% to hit a new 1-month high.

The best performers of the session on the BEL 20 were Aperam SA (AS:APAM), which rose 4.24% or 1.06 points to trade at 26.06 at the close. Meanwhile, ING Groep NV (AS:INGA) added 3.38% or 0.342 points to end at 10.454 and Anheuser Busch Inbev SA NV (BR:ABI) was up 3.38% or 2.12 points to 64.75 in late trade.

The worst performers of the session were Ontex Group (BR:ONTEX), which fell 3.57% or 0.66 points to trade at 17.84 at the close. UCB (BR:UCB) declined 2.02% or 1.56 points to end at 75.84 and Etablissementen Franz Colruyt NV (BR:COLR) was down 0.92% or 0.58 points to 62.34.

Rising stocks outnumbered declining ones on the Brussels Stock Exchange by 77 to 33 and 15 ended unchanged.

Gold Futures for February delivery was down 0.74% or 9.55 to $1282.75 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 2.92% or 1.52 to hit $53.59 a barrel, while the March Brent oil contract rose 2.24% or 1.37 to trade at $62.55 a barrel.

EUR/USD was down 0.33% to 1.1357, while EUR/GBP rose 0.42% to 0.8808.

The US Dollar Index Futures was up 0.32% at 96.018.

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U.K. stocks higher at close of trade; Investing.com United Kingdom 100 up 2.01%

January 18, 2019, 05:15

Investing.com – U.K. stocks were higher after the close on Friday, as gains in the Construction&Materials, Life Insurance/Assurance and Fixed Line Telecommunications sectors led shares higher.

At the close in London, the Investing.com United Kingdom 100 gained 2.01% to hit a new 1-month high.

The best performers of the session on the Investing.com United Kingdom 100 were Ashtead Group PLC (LON:AHT), which rose 4.49% or 84.00 points to trade at 1953.00 at the close. Meanwhile, WM Morrison Supermarkets PLC (LON:MRW) added 3.97% or 8.80 points to end at 230.65 and Antofagasta PLC (LON:ANTO) was up 3.79% or 31.20 points to 854.80 in late trade.

The worst performers of the session were Capita PLC (LON:CPI), which fell 1.76% or 2.10 points to trade at 117.50 at the close. Fresnillo PLC (LON:FRES) declined 1.47% or 13.20 points to end at 887.60 and Old Mutual Ltd (LON:OMU) was down 0.98% or 1.24 points to 125.56.

Rising stocks outnumbered declining ones on the London Stock Exchange by 1578 to 520 and 288 ended unchanged.

Gold Futures for February delivery was down 0.79% or 10.15 to $1282.15 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 2.92% or 1.52 to hit $53.59 a barrel, while the March Brent oil contract rose 2.26% or 1.38 to trade at $62.56 a barrel.

GBP/USD was down 0.66% to 1.2898, while EUR/GBP rose 0.39% to 0.8805.

The US Dollar Index Futures was up 0.32% at 96.018.

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Germany stocks higher at close of trade; DAX up 2.63%

January 18, 2019, 05:15

Investing.com – Germany stocks were higher after the close on Friday, as gains in the Technology, Software and Chemicals sectors led shares higher.

At the close in Frankfurt, the DAX rose 2.63% to hit a new 1-month high, while the MDAX index climbed 1.93%, and the TecDAX index climbed 2.50%.

The best performers of the session on the DAX were Wirecard AG (DE:WDIG), which rose 4.79% or 6.850 points to trade at 149.850 at the close. Meanwhile, Continental AG O.N. (DE:CONG) added 4.47% or 5.75 points to end at 134.50 and BASF SE NA O.N. (DE:BASFN) was up 4.13% or 2.600 points to 65.600 in late trade.

The worst performers of the session were Beiersdorf AG O.N. (DE:BEIG), which rose 0.27% or 0.240 points to trade at 88.340 at the close. Merck KGaA (DE:MRCG) added 0.56% or 0.50 points to end at 90.50 and Henkel&Co KGaA AG Pref (DE:HNKG_p) was up 0.89% or 0.86 points to 97.02.

The top performers on the MDAX were Nemetschek AG O.N. (DE:NEKG) which rose 5.20% to 109.200, Siltronic AG (DE:WAFGn) which was up 4.95% to settle at 80.140 and Wacker Chemie O.N. (DE:WCHG) which gained 4.77% to close at 89.56.

The worst performers were Morphosys AG O.N. (DE:MORG) which was down 0.68% to 101.6000 in late trade, Deutsche Euroshop AG (DE:DEQGn) which lost 0.23% to settle at 25.700 and Delivery Hero AG (DE:DHER) which was down 0.06% to 32.94 at the close.

The top performers on the TecDAX were HelloFresh SE (DE:HFGG) which rose 21.45% to 8.78, SLM Solutions Group AG (DE:AM3D) which was up 15.07% to settle at 10.08 and S&T AG (DE:SANT1) which gained 7.50% to close at 18.78.

The worst performers were Kloeckner&Co SE NA (DE:KCOGn) which was down 3.92% to 6.1350 in late trade, Draegerwerk VZO O.N. (DE:DRWG_p) which lost 1.58% to settle at 49.260 and TLG Immobilien AG (DE:TLGG) which was down 1.31% to 25.66 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 582 to 112 and 81 ended unchanged.

The DAX volatility index, which measures the implied volatility of DAX options, was down 5.48% to 16.20 a new 3-months low.

Gold Futures for February delivery was down 0.78% or 10.05 to $1282.25 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 2.94% or 1.53 to hit $53.60 a barrel, while the March Brent oil contract rose 2.29% or 1.40 to trade at $62.58 a barrel.

EUR/USD was down 0.32% to 1.1359, while EUR/GBP rose 0.39% to 0.8806.

The US Dollar Index Futures was up 0.32% at 96.015.

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Poland stocks higher at close of trade; WIG30 up 0.68%

January 18, 2019, 05:10

Investing.com – Poland stocks were higher after the close on Friday, as gains in the Basic Materials, Developers and Oil&Gas sectors led shares higher.

At the close in Warsaw, the WIG30 added 0.68% to hit a new 3-months high.

The best performers of the session on the WIG30 were Jastrzebska Spotka Weglowa SA (WA:JSW), which rose 3.31% or 2.16 points to trade at 67.50 at the close. Meanwhile, Powszechna Kasa Oszczednosci Bank Polski SA (WA:PKO) added 1.98% or 0.79 points to end at 40.59 and LPP SA (WA:LPPP) was up 1.81% or 145.00 points to 8135.00 in late trade.

The worst performers of the session were Energa SA (WA:ENGP), which fell 1.77% or 0.17 points to trade at 9.45 at the close. Powszechny Zaklad Ubezpieczen SA (WA:PZU) declined 1.26% or 0.56 points to end at 43.88 and Grupa Azoty SA (WA:ATTP) was down 1.21% or 0.44 points to 36.00.

Rising stocks outnumbered declining ones on the Warsaw Stock Exchange by 240 to 196 and 194 ended unchanged.

Crude oil for February delivery was up 2.88% or 1.50 to $53.57 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 2.30% or 1.41 to hit $62.59 a barrel, while the February Gold Futures contract fell 0.75% or 9.75 to trade at $1282.55 a troy ounce.

EUR/PLN was up 0.06% to 4.2898, while USD/PLN rose 0.35% to 3.7763.

The US Dollar Index Futures was up 0.30% at 96.002.

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Sweden stocks higher at close of trade; OMX Stockholm 30 up 1.76%

January 18, 2019, 05:05

Investing.com – Sweden stocks were higher after the close on Friday, as gains in the Oil&Gas, Technology and Industrials sectors led shares higher.

At the close in Stockholm, the OMX Stockholm 30 gained 1.76% to hit a new 1-month high.

The best performers of the session on the OMX Stockholm 30 were Hexagon AB ser. B (ST:HEXAb), which rose 3.71% or 16.0 points to trade at 447.1 at the close. Meanwhile, Atlas Copco AB Series B (ST:ATCOb) added 2.95% or 6.1 points to end at 213.1 and Boliden AB (ST:BOL) was up 2.69% or 5.70 points to 217.65 in late trade.

The worst performers of the session were Kinnevik, Investment AB ser. B (ST:KINVb), which fell 1.18% or 2.7 points to trade at 225.7 at the close. Svenska Cellulosa SCA AB B (ST:SCAb) unchanged 0.03% or 0.0 points to end at 77.8 and Svenska Handelsbanken AB A (ST:SHBa) was up 0.53% or 0.53 points to 100.58.

Rising stocks outnumbered declining ones on the Stockholm Stock Exchange by 430 to 206 and 56 ended unchanged.

Crude oil for February delivery was up 2.92% or 1.52 to $53.59 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 2.35% or 1.44 to hit $62.62 a barrel, while the February Gold Futures contract fell 0.78% or 10.05 to trade at $1282.25 a troy ounce.

EUR/SEK was down 0.24% to 10.2508, while USD/SEK rose 0.05% to 9.0232.

The US Dollar Index Futures was up 0.31% at 96.007.

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Norway stocks higher at close of trade; Oslo OBX up 1.75%

January 18, 2019, 05:05

Investing.com – Norway stocks were higher after the close on Friday, as gains in the Diversified Financials, Commercial Service And Supplies and Food, Beverages&Tobacco sectors led shares higher.

At the close in Oslo, the Oslo OBX gained 1.75% to hit a new 1-month high.

The best performers of the session on the Oslo OBX were Petroleum Geo - Services ASA (OL:PGS), which rose 5.83% or 1.02 points to trade at 18.43 at the close. Meanwhile, Norwegian Air Shuttle ASA (OL:NWC) added 4.92% or 8.05 points to end at 171.65 and Aker ASA (OL:AKER) was up 4.51% or 26.0 points to 602.0 in late trade.

The worst performers of the session were Norsk Hydro ASA (OL:NHY), which fell 0.27% or 0.11 points to trade at 39.58 at the close. Telenor ASA (OL:TEL) added 0.03% or 0.1 points to end at 166.3 and Yara International ASA (OL:YAR) was up 0.17% or 0.6 points to 357.1.

Rising stocks outnumbered declining ones on the Oslo Stock Exchange by 122 to 58 and 31 ended unchanged.

Crude oil for February delivery was up 2.92% or 1.52 to $53.59 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 2.37% or 1.45 to hit $62.63 a barrel, while the February Gold Futures contract fell 0.78% or 10.05 to trade at $1282.25 a troy ounce.

EUR/NOK was down 0.19% to 9.7211, while USD/NOK rose 0.08% to 8.5562.

The US Dollar Index Futures was up 0.30% at 96.002.

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Morocco stocks higher at close of trade; Moroccan All Shares up 0.07%

January 18, 2019, 05:05

Investing.com – Morocco stocks were higher after the close on Friday, as gains in the Oil&Gas, Construction&Building Materials and Food Producers&Processors sectors led shares higher.

At the close in Casablanca, the Moroccan All Shares rose 0.07%.

The best performers of the session on the Moroccan All Shares were Afriquia Gaz (CS:AGAZ1), which rose 7.73% or 232 points to trade at 3233 at the close. Meanwhile, Ciments Du Maroc (CS:SCM) added 5.93% or 89 points to end at 1590 and Total Maroc SA (CS:TMA) was up 1.90% or 19.0 points to 1021.0 in late trade.

The worst performers of the session were AFMA SA (CS:AFM), which fell 9.90% or 97 points to trade at 883 at the close. Promopharm S.A. (CS:PRO) declined 8.42% or 79 points to end at 861 and Disway SA (CS:DWY) was down 6.30% or 17.95 points to 267.00.

Falling stocks outnumbered advancing ones on the Casablanca Stock Exchange by 25 to 17 and 8 ended unchanged.

Shares in AFMA SA (CS:AFM) fell to 52-week lows; down 9.90% or 97 to 883. Shares in Promopharm S.A. (CS:PRO) fell to 52-week lows; losing 8.42% or 79 to 861. Shares in Disway SA (CS:DWY) fell to 52-week lows; down 6.30% or 17.95 to 267.00.

Crude oil for February delivery was up 2.94% or 1.53 to $53.60 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March rose 2.39% or 1.46 to hit $62.64 a barrel, while the February Gold Futures contract fell 0.78% or 10.05 to trade at $1282.25 a troy ounce.

EUR/MAD was down 0.06% to 10.8687, while USD/MAD rose 0.23% to 9.5671.

The US Dollar Index Futures was up 0.31% at 96.005.

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Russia stocks higher at close of trade; MOEX Russia up 1.06%

January 18, 2019, 04:35

Investing.com – Russia stocks were higher after the close on Friday, as gains in the Oil&Gas, Telecoms and Mining sectors led shares higher.

At the close in Moscow, the MOEX Russia added 1.06% to hit a new 3-months high.

The best performers of the session on the MOEX Russia were AFK Sistema (MCX:AFKS), which rose 3.96% or 0.347 points to trade at 9.100 at the close. Meanwhile, VTB (MCX:VTBR) added 3.91% or 0.0014 points to end at 0.0371 and Moskovskaya Birzha OAO (MCX:MOEX) was up 3.64% or 3.28 points to 93.33 in late trade.

The worst performers of the session were Aeroflot (MCX:AFLT), which fell 1.89% or 2.06 points to trade at 107.00 at the close. Inter rao ees (MCX:IRAO) declined 1.81% or 0.0710 points to end at 3.8600 and MVideo (MCX:MVID) was down 0.74% or 3.00 points to 404.20.

Rising stocks outnumbered declining ones on the Moscow Stock Exchange by 128 to 82 and 27 ended unchanged.

The Russian VIX, which measures the implied volatility of MOEX Russia options, was up 0.93% to 21.620 a new 6-months low.

Gold Futures for February delivery was down 0.78% or 10.10 to $1282.20 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 2.86% or 1.49 to hit $53.56 a barrel, while the March Brent oil contract rose 2.37% or 1.45 to trade at $62.63 a barrel.

USD/RUB was down 0.16% to 66.2620, while EUR/RUB fell 0.44% to 75.2521.

The US Dollar Index Futures was up 0.31% at 96.012.

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Energy Stocks Jump Midday as Schlumberger Results Spur Optimism

January 18, 2019, 04:21

Investing.com - Oilfield services company Schlumberger (NYSE:SLB) helped rally energy stocks on Frida, after its fourth quarter revenue came in higher than expected and it forecast international growth, even as crude prices have fallen.

The company reported revenue from its North America business rose 0.3% year over year to $2.82 billion, while international revenue rose nearly 1% to $5.28 billion. Revenue was flat at $8.18 billion, compared with a year earlier, but beat the average analyst estimate of $8.04 billion.

The company has a modestly positive outlook on the oil sector in 2019, although the fall in oil prices and volatility have increased uncertainty on the company’s outlook for the year, according to Briefing.com.

The energy sector as a whole was higher, with the S&P 500 Energy index gaining 1.27%.

Schlumberger jumped 6.9% while Chevron (NYSE:CVX) rose 1.8% and Devon Energy (NYSE:DVN) increased 1.7%.

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