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U.S. stock index futures higher ahead of earnings, Alphabet eyed

July 25, 2017, 12:04

Investing.com - U.S. stock index futures higher Tuesday ahead of a spate of earnings reports. The Dow futures was up 0.21% at 7:15 ET. The DJI closed off 0.31% overnight. The S&P 500 futures added 0.16%. The tech-heavy Nasdaq 100 futures gained 0.04%. The dollar index remains hostage to concerns about the Trump administration's economic agenda. Focus returns to Republican efforts to amend the U.S. healthcare system. The two-day FOMC meeting kicks off, with policy expected to be kept on hold as market odds of another hike this year weaken. The FOMC may give further guidance on plans to gradually taper its bond holdings. CB consumer confidence data for July due out later in the session. Oil was firm as Saudi Arabia pledged to cut crude exports. API inventories ahead. (NASDAQ:Alphabet) was off 2% pre-market as its earnings report raised traffic cost concerns. (NYSE:DuPont) second-quarter earnings and revenues beat estimates. Other companies reporting today include (NYSE:AT&T), (NYSE:McDonald's) and (NYSE:{{247|Caterpillar

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United Arab Emirates stocks mixed at close of trade; DFM General down 0.13%

July 25, 2017, 11:15

Investing.com – United Arab Emirates stocks were mixed after the close on Tuesday, as gains in the Insurance, Transport and Telecoms sectors led shares higher while losses in the Consumer Staples, Banking and Services sectors led shares lower.

At the close in Dubai, the DFM General declined 0.13%, while the ADX General index added 0.04%.

The best performers of the session on the DFM General were Dubai Islamic Insurance Co. (DU:AMAN), which rose 13.66% or 0.125 points to trade at 1.040 at the close. Meanwhile, Islamic Arab Insurance Company (DU:SALAMA) added 3.54% or 0.016 points to end at 0.468 and ARAMEX PJSC (DU:ARMX) was up 1.89% or 0.100 points to 5.400 in late trade.

The worst performers of the session were SHUAA Capital PSC (DU:SHUA), which fell 2.94% or 0.040 points to trade at 1.320 at the close. Dubai Financial Market PJSC (DU:DFM) declined 2.54% or 0.030 points to end at 1.150 and Drake&Scull International PJSC (DU:DSI) was down 2.42% or 0.010 points to 0.403.

The top performers on the ADX General were Rak Ceramics (AD:RKCE) which rose 5.15% to 2.450, Abu Dhabi National for Building Materials Co PJSC (AD:BILD) which was up 4.08% to settle at 0.510 and Rak Properties (AD:RPRO) which gained 1.49% to close at 0.680.

The worst performers were Green Crs Ins (AD:GCIC) which was down 9.33% to 0.680 in late trade, Gulf Pharm Ind (AD:GPHI) which lost 4.17% to settle at 2.300 and United Arab Bk (AD:UAB) which was down 3.45% to 1.400 at the close.

Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 18 to 16 and 3 ended unchanged; on the Abu Dhabi, 11 fell and 7 advanced, while 11 ended unchanged.

Shares in United Arab Bk (AD:UAB) fell to all time lows; down 3.45% or 0.050 to 1.400.

Crude oil for September delivery was up 1.62% or 0.75 to $47.09 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.60% or 0.78 to hit $49.38 a barrel, while the August Gold Futures contract fell 0.21% or 2.60 to trade at $1251.70 a troy ounce.

USD/AED was up 0.00% to 3.6732, while EUR/AED rose 0.12% to 4.2815.

The US Dollar Index Futures was down 0.04% at 93.78.

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Euro firm amid Greece market return, record German business morale

July 25, 2017, 10:46

Investing.com - The euro was firm Tuesday above $1.16 as euro-zone sentiment remained upbeat.
The single currency was up 0.12% at $1.1657 at 06:15 ET after a high of $1.1684.
Greece is returning to the primary bond market for the first time since 2014.
Its 5-year bond was reportedly initially priced to yield 4.875%, below the levels seen in 2014.
Visiting European Economic Affairs Commissioner Pierre Moscovici said in Athens Greece had reached a "turning point."
The Ifo economic institute Tuesday reported that German business morale unexpectedly rose in July to a new record high.
The business climate index rose to 116.0 in July from 115.2 in June when it was expected to fall to 114.9.
The euro hit two-year highs last week buoyed by remarks by ECB chief Mario Draghi deemed hawkish.
The ECB Governing Council is due to discuss a possible shift in its ultra-accommodative policy in the fall.
The IMF Monday slightly raised its growth forecasts for the euro zone for this year and the next.
The dollar index was flat at 93.82 near 13-month lows.s.

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India stocks lower at close of trade; Nifty 50 down 0.02%

July 25, 2017, 10:45

Investing.com – India stocks were lower after the close on Tuesday, as losses in the Public Sector Undertakings, Real Estate and Technology sectors led shares lower.

At the close in NSE, the Nifty 50 fell 0.02%, while the BSE Sensex 30 index unchanged 0.00%.

The best performers of the session on the Nifty 50 were Indiabulls Housing Finance Ltd (NS:INBF), which rose 3.51% or 40.60 points to trade at 1197.85 at the close. Meanwhile, Hindalco Industries Ltd. (NS:HALC) added 2.71% or 5.80 points to end at 220.20 and Grasim Industries Ltd (NS:GRAS) was up 2.12% or 22.35 points to 1075.55 in late trade.

The worst performers of the session were Zee Entertainment Enterprises Ltd. (NS:ZEE), which fell 2.39% or 13.20 points to trade at 538.70 at the close. UltraTech Cement Ltd (NS:ULTC) declined 2.19% or 91.80 points to end at 4105.70 and Tech Mahindra Ltd (NS:TEML) was down 1.99% or 7.95 points to 391.10.

The top performers on the BSE Sensex 30 were AXIS Bank Ltd. (BO:AXBK) which rose 1.94% to 544.65, Bharti Airtel Ltd (BO:BRTI) which was up 1.76% to settle at 427.60 and Tata Consultancy Services Ltd. (BO:TCS) which gained 1.50% to close at 2570.65.

The worst performers were Lupin Ltd (BO:LUPN) which was down 1.96% to 1120.25 in late trade, Tata Motors Ltd (BO:TAMO) which lost 1.61% to settle at 456.15 and Coal India Ltd (BO:COAL) which was down 1.07% to 258.55 at the close.

Falling stocks outnumbered advancing ones on the India National Stock Exchange by 890 to 672 and 6 ended unchanged; on the Bombay Stock Exchange, 1437 fell and 1170 advanced, while 155 ended unchanged.

Shares in Indiabulls Housing Finance Ltd (NS:INBF) rose to all time highs; up 3.51% or 40.60 to 1197.85. Shares in Hindalco Industries Ltd. (NS:HALC) rose to 5-year highs; rising 2.71% or 5.80 to 220.20. Shares in Bharti Airtel Ltd (BO:BRTI) rose to 52-week highs; up 1.76% or 7.40 to 427.60.

The India VIX, which measures the implied volatility of Nifty 50 options, was down 3.54% to 10.9125.

Gold Futures for August delivery was down 0.23% or 2.87 to $1251.43 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.38% or 0.64 to hit $46.98 a barrel, while the September Brent oil contract rose 1.40% or 0.68 to trade at $49.28 a barrel.

USD/INR was up 0.02% to 64.395, while EUR/INR rose 0.08% to 75.0234.

The US Dollar Index Futures was unchanged 0.00% at 93.82.

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Sri Lanka stocks lower at close of trade; CSE All-Share down 0.03%

July 25, 2017, 10:45

Investing.com – Sri Lanka stocks were lower after the close on Tuesday, as losses in the Chemicals&Pharmaceuticals, Motors and Telecoms sectors led shares lower.

At the close in Colombo, the CSE All-Share lost 0.03% to hit a new 1-month low.

The best performers of the session on the CSE All-Share were Lake House Printers and Publishers PLC (CM:LPRT), which rose 17.39% or 20.00 points to trade at 135.00 at the close. Meanwhile, Capital Alliance Finance PLC (CM:CAFL) added 12.14% or 1.70 points to end at 15.70 and Central Investments and Finance PLC (CM:CIFL) was up 10.00% or 0.100 points to 1.100 in late trade.

The worst performers of the session were Serendib Land PLC (CM:SLND), which fell 19.01% or 281.70 points to trade at 1200.00 at the close. Associated Motor Finance Company PLC (CM:ASSO) declined 8.46% or 38.90 points to end at 421.00 and Bimputh Finance PLC (CM:BIMP) was down 6.54% or 3.10 points to 44.30.

Rising stocks outnumbered declining ones on the Colombo Stock Exchange by 98 to 73 and 70 ended unchanged.

Shares in Serendib Land PLC (CM:SLND) fell to 52-week lows; losing 19.01% or 281.70 to 1200.00. Shares in Capital Alliance Finance PLC (CM:CAFL) rose to 52-week highs; gaining 12.14% or 1.70 to 15.70.

Crude oil for September delivery was up 1.38% or 0.64 to $46.98 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.40% or 0.68 to hit $49.28 a barrel, while the August Gold Futures contract fell 0.24% or 3.06 to trade at $1251.24 a troy ounce.

GBP/LKR was down 0.12% to 199.820, while USD/LKR fell 0.01% to 153.540.

The US Dollar Index Futures was unchanged 0.00% at 93.82.

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U.S. stock futures point to slightly higher open with earnings in focus

July 25, 2017, 10:41

Investing.com - U.S. stock futures pointed to a slightly higher open on Tuesday as investors awaited a raft of earnings reports, while shares of Google parent Alphabet were lower in premarket trade after it released its financial results late Monday.

The blue-chip Dow futures was up 24 points, or 0.11% by 06.40 a.m. ET (10.40 a.m. GMT), the S&P 500 futures added on 2.5 points or 0.11%, while the tech-heavy Nasdaq 100 futures were little changed.

U.S. stocks ended mixed on Monday, with the Dow Jones Industrial Average and S&P 500 posting their third straight session of declines, while the Nasdaq Composite closed at a record high.

Shares in Alphabet Inc (NASDAQ:GOOGL) were down around 2.6% in premarket trade after it reported a steep drop in second quarter profit on Monday following a $2.74 billion fine from European antitrust regulators. The company also reported record traffic acquisition costs.

McDonald’s (NYSE:MCD), General Motors (NYSE:GM) and Caterpillar (NYSE:CAT) were among the companies due to report earnings ahead of the opening bell on Tuesday.

In currency markets, the dollar was nursing losses near 13-month lows as investors awaited the outcome of this week’s Federal Reserve meeting and monitored political developments in Washington.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last at 93.8, not far from Monday’s low of 93.65.

Investors remained focused on the investigation into alleged links between U.S. President Donald Trump’s administration and Russia in last year’s election.

On Monday, Jared Kushner, Trump’s son-in-law and a senior White House adviser, told Senate investigators he had met with Russian officials four times last year but said he did not collude with Moscow.

Investors fear the persistent political turmoil will derail the Trump administration’s pro-growth economic agenda of tax cuts and infrastructure spending, which helped propel the dollar to 14-year peaks after the November election.

Doubts over the Federal Reserve’s plans for a third rate hike this year have also fed into dollar weakness.

The Fed is to hold its next meeting on Wednesday and is widely expected to hold policy steady, but officials could hint at its plans to start normalizing its balance sheet.

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Top 5 things to watch today

July 25, 2017, 10:33

Investing.com - Federal Reserve kicks off two-day policy meeting.
(NASDAQ:Alphabet's) profit falls sharply; shares off 3%.
U.S. earnings season gathers momentum.
Oil continues march higher on OPEC pledges.
German business sentiment hits all-time high.

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Indonesia stocks higher at close of trade; IDX Composite Index up 0.21%

July 25, 2017, 10:15

Investing.com – Indonesia stocks were higher after the close on Tuesday, as gains in the Infrastructure, Trade and Financials sectors led shares higher.

At the close in Jakarta, the IDX Composite Index added 0.21%.

The best performers of the session on the IDX Composite Index were Minna Padi Investama Tbk (JK:PADI), which rose 25.00% or 102 points to trade at 510 at the close. Meanwhile, Indo Kordsa Tbk (JK:BRAM) added 19.65% or 2250 points to end at 13700 and Marga Abhinaya Abadi Tbk PT (JK:MABA) was up 13.76% or 260 points to 2150 in late trade.

The worst performers of the session were Delta Dunia Makmur Tbk (JK:DOID), which fell 11.69% or 90 points to trade at 680 at the close. Indorama Synthetics Tbk (JK:INDR) declined 11.16% or 135 points to end at 1075 and Lippo General Insurance Tbk (JK:LPGI) was down 10.55% or 625 points to 5300.

Falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by 187 to 134 and 126 ended unchanged.

Shares in Minna Padi Investama Tbk (JK:PADI) rose to 52-week highs; up 25.00% or 102 to 510. Shares in Marga Abhinaya Abadi Tbk PT (JK:MABA) rose to all time highs; rising 13.76% or 260 to 2150.

Crude oil for September delivery was up 1.23% or 0.57 to $46.91 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 1.15% or 0.56 to hit $49.16 a barrel, while the August Gold Futures contract fell 0.29% or 3.67 to trade at $1250.63 a troy ounce.

USD/IDR was up 0.09% to 13323.5, while AUD/IDR fell 0.01% to 10546.50.

The US Dollar Index Futures was unchanged 0.00% at 93.82.

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Dollar sags with Fed meeting, U.S. politics in focus

July 25, 2017, 10:09

Investing.com -The dollar sagged to more than one-year lows against a basket of the other major currencies on Tuesday as investors awaited the outcome of this week’s Federal Reserve meeting and monitored political developments in Washington.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 93.8 by 06.04 a.m. ET (10.06 a.m. GMT), not far from Monday’s low of 93.65, its weakest since June 2016.

Investors remained focused on the investigation into alleged links between U.S. President Donald Trump’s administration and Russia in last year’s election.

On Monday, Jared Kushner, Trump’s son-in-law and a senior White House adviser, told Senate investigators he had met with Russian officials four times last year but said he did not collude with Moscow.

Investors fear the persistent political turmoil will derail the Trump administration’s pro-growth economic agenda of tax cuts and infrastructure spending, which helped propel the dollar to 14-year peaks after the November election.

Doubts over the Federal Reserve’s plans for a third rate hike this year have also fed into dollar weakness.

The Fed is to kick off its two-day meeting on Tuesday and is widely expected to hold policy steady, but officials could hint at its plans to start normalizing its balance sheet.

The dollar pushed higher against the yen, with USD/JPY rising 0.3% to 111.42. On Monday the pair hit 110.61, the lowest level since mid-June.

The euro was a touch higher against the dollar, with EUR/USD at 1.1655, close to Monday’s 23-month high of 1.1684.

Demand for the euro continued to be underpinned by expectations that the European Central Bank is moving closer to tapering its bond-buying program.

Sterling was little changed against the dollar, with GBP/USD at 1.3018.

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Top 5 things to know in the market on Tuesday

July 25, 2017, 09:46

Investing.com - Here are the top five things you need to know in financial markets on Tuesday, July 25:

1. Fed kicks off 2-day policy meeting

The Federal Reserve kicks off its two-day policy meeting, at which it is not expected to take any action on interest rates.

Market players will pay close attention to details of when and how the U.S. central bank will start reducing its $4.5 trillion balance sheet, while looking for clues on the timing of the next rise in borrowing costs.

According to Investing.com’s Fed Rate Monitor Tool, conviction for another rate hike before the end of the year has faded, with just 35% of market players expecting another move by December, as the subdued inflation outlook raised doubts over whether policymakers will be able to stick to their planned tightening path.

The U.S. dollar fell to a fresh 13-month low against a basket of the other major currencies, with traders skeptical the outcome of the Fed's meeting would do much to alter the greenback's recent weak trend.

Besides the Fed, today's economic calendar includes a reading on July consumer confidence.

2. Alphabet's profit falls sharply; shares off 3%

Google’s parent company, Alphabet (NASDAQ:GOOGL) reported a 27.7% drop in quarterly profit, as the tech giant recognized a non-deductible $2.74 billion European Union fine in its results.

After Monday's closing bell, Alphabet reported net income of $3.52 billion, or $5.01 per share, on $26.01 billion in revenue, compared to net income of $4.88 billion, or earnings of $4.49 per share, on $21.5 billion in revenue a year ago.

Analysts were expecting Alphabet to report earnings of $4.46 per share on revenue of $25.6 billion. If not for the fine, Alphabet said that earnings per share would have been $8.90 in the second quarter.

Despite earnings that topped expectations on both the bottom and top line, shares of Alphabet slipped around 3% in pre-market trade.

Meanwhile, U.S. stock futures pointed to a muted open on Wall Street, with the blue-chip Dow futures indicating a gain of 16 points, or around 0.1%; the S&P 500 futures ticked up 3 points, or about 0.1%, while the tech-heavy Nasdaq 100 futures were little changed.

The CBOE Volatility Index, a popular measure of Wall Street fear, was on track to open down 2% at 9.23, which would be its lowest level since 1993.

3. U.S. earnings season gathers momentum

U.S. earnings season is gathering momentum, with dozens of companies due to report, including Dow components like Caterpillar (NYSE:CAT), United Technologies (NYSE:UTX), DuPont (NYSE:DD) and McDonald's (NYSE:MCD) all out ahead of the opening bell.

General Motors (NYSE:GM), Seagate Technology (NASDAQ:STX), Eli Lilly (NYSE:LLY), Kimberly-Clark (NYSE:KMB), PulteGroup (NYSE:PHM), Newmont Mining (NYSE:NEM), AK Steel (NYSE:AKS) and JetBlue (NASDAQ:JBLU) are also among the handful of names posting results before the open.

After the close, AT&T (NYSE:T), Advanced Micro Devices (NASDAQ:AMD) and Chipotle (NYSE:CMG) release earnings. U.S. Steel (SA:USSX34), Juniper Networks (NYSE:JNPR), Akamai (NASDAQ:AKAM) and Express Scripts (NASDAQ:ESRX) are also on the docket.

4. Oil continues march higher on OPEC pledges

Oil prices continued their march higher, extending gains into a second session, as fresh pledges from Saudi Arabia and Nigeria to respectively pull back on exports and output boosted sentiment.

At an Organization of the Petroleum Exporting Countries meeting on Monday, Saudi Arabia announced it would cut August exports to 6.6 million barrels a day, which would be a million less than a year earlier.

In addition, Nigeria, which has been exempt from this year’s OPEC-led production-cut deal, pledged to cap output once it reaches a level of 1.8 million barrels a day. The cartel’s latest data put the country’s output at around 1.7 million.

In recent trading, U.S. crude was at $46.83 a barrel, up 49 cents, or around 1.1%, while Brent oil tacked on 49 cents to $49.09 a barrel.

Investors now looked ahead to weekly data from the U.S. on stockpiles of crude and refined products. Industry group the American Petroleum Institute is due to release its weekly report at 4:30PM ET (2030GMT).

5. German business sentiment hits all-time high

German business confidence improved in July, hitting the third record high in as many months as Europe's largest economy powered ahead and morale lifted across industry.

A survey from the Munich-based Ifo economic institute showed its business climate index, based on a monthly survey of some 7,000 firms, rose to 116.0 from 115.2 in June.

"Sentiment among German businesses is euphoric," Ifo chief Clemens Fuest said in a statement.

The euro was up slightly at 1.1650 against the dollar, not far from a 23-month high of 1.1684.

In the stock market, European shares were broadly higher, with Germany's DAX gaining around 0.5%, while London's FTSE 100 climbed 0.8%.

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Bitcoin, Ethereum prices move lower

July 25, 2017, 09:28

Investing.com - Bitcoin prices fell on Tuesday, while the price of Ethereum, Bitcoin's closest rival in terms of market cap was also lower.

On the U.S.-based GDAX exchange, Bitcoin fell to $2,690.3, down $70.7 or 2.56%.

Bitcoin rallied last week, rising to a high of $2,953.5 on July 19, just shy of its record high of $3,000 set in June.

Prices rose after Bitcoin avoided a split into two independent currencies last week when its network supported a proposal on upgrading to its software in order to speed up transactions on the Bitcoin network.

The upgrade to Bitcoin's network will not take place until autumn, according to reports.

The support of Bitcoin miners, who combined make up nearly 80% of Bitcoin’s computer power was crucial in ‘locking-in’ the software upgrade, Bitcoin Improvement Proposal 91 (BIP 91).

Meanwhile, Ethereum mirrored Bitcoin’s move lower, falling 5.18% or $11.75 to $215.00, retreating further from its all-time high of $419.3 set on June 11.

The pullback in Ethereum from its all-time high has seen its market capitalization fall to below $20 billion, well below Bitcoin’s $43 billion.

To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/

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Global stocks mixed, Alphabet in focus

July 25, 2017, 08:37

Investing.com - Global stocks mixed as dollar remains in doldrums, oil firms.
Asia mixed. {178|Nikkei 225}} edges off 0.07%. Yen off highs vs. dollar.
Europe mostly higher. DAX up 0.14%. CAC 40 adds 0.57%.
Euro firm above $1.16 mark. Greece testing bond market after three-year hiatus.
FTSE 100 up 0.54%x. Sterling holds above $1.30.
U.S. stock index futures flat as Wall St closes mixed, with Nasdaq at record highs.
(NASDAQ:Alphabet) in focus after solid quarterly earnings report despite EU anti-trust fine.
Shares fall post-market as concerns emerge about future revenues stream due to higher costs for mobile ads.
Dollar index pressured amid political woes as FOMC meeting due to start. Healthcare back in focus.
Oil firm after Saudi pledge to curb exports. API stockpiles ahead.
Mining stocks underpinned by higher industrial metal prices.
Gold higher. U.S. Treasury yields little changed.

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Japan stocks lower at close of trade; Nikkei 225 down 0.10%

July 25, 2017, 08:35

Investing.com – Japan stocks were lower after the close on Tuesday, as losses in the Rubber, Insurance and Pharmaceutical Industry sectors led shares lower.

At the close in Tokyo, the Nikkei 225 lost 0.10%.

The best performers of the session on the Nikkei 225 were Yaskawa Electric Corp. (T:6506), which rose 4.36% or 124.0 points to trade at 2968.0 at the close. Meanwhile, Hitachi Zosen Corp. (T:7004) added 2.70% or 15.0 points to end at 570.0 and SUMCO Corp. (T:3436) was up 2.60% or 47.0 points to 1856.0 in late trade.

The worst performers of the session were Showa Denko K.K. (T:4004), which fell 5.61% or 176.0 points to trade at 2964.0 at the close. Toshiba Corp. (T:6502) declined 4.91% or 13.9 points to end at 269.0 and Nippon Paper Industries Co., Ltd. (T:3863) was down 3.52% or 80.0 points to 2193.0.

Falling stocks outnumbered advancing ones on the Tokyo Stock Exchange by 1811 to 1363 and 308 ended unchanged.

Shares in Yaskawa Electric Corp. (T:6506) rose to all time highs; gaining 4.36% or 124.0 to 2968.0.

The Nikkei Volatility, which measures the implied volatility of Nikkei 225 options, was up 8.33% to 13.26.

Crude oil for September delivery was up 0.41% or 0.19 to $46.53 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.37% or 0.18 to hit $48.78 a barrel, while the August Gold Futures contract fell 0.14% or 1.73 to trade at $1252.57 a troy ounce.

USD/JPY was up 0.16% to 111.28, while EUR/JPY rose 0.25% to 129.68.

The US Dollar Index Futures was down 0.03% at 93.79.

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Philippines stocks higher at close of trade; PSEi Composite up 0.11%

July 25, 2017, 08:35

Investing.com – Philippines stocks were higher after the close on Tuesday, as gains in the Property, Holding Firms and Services sectors led shares higher.

At the close in Philippines, the PSEi Composite rose 0.11%.

The best performers of the session on the PSEi Composite were Globe Telecom Inc (PS:GLO), which rose 2.15% or 44.00 points to trade at 2094.00 at the close. Meanwhile, Metro Pacific Investments Corp (PS:MPI) added 2.09% or 0.140 points to end at 6.840 and LT Group Inc (PS:LTG) was up 1.96% or 0.340 points to 17.700 in late trade.

The worst performers of the session were Metropolitan Bank and Trust Co (PS:MBT), which fell 3.01% or 2.65 points to trade at 85.35 at the close. Energy Development Corp (PS:EDC) declined 2.68% or 0.160 points to end at 5.810 and First Gen Corp (PS:FGEN) was down 2.18% or 0.40 points to 17.94.

Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 141 to 65 and 47 ended unchanged.

Shares in First Gen Corp (PS:FGEN) fell to 52-week lows; losing 2.18% or 0.40 to 17.94.

Gold Futures for August delivery was down 0.14% or 1.71 to $1252.59 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.39% or 0.18 to hit $46.52 a barrel, while the September Brent oil contract rose 0.37% or 0.18 to trade at $48.78 a barrel.

CNY/PHP was down 0.35% to 7.4883, while USD/PHP fell 0.34% to 50.570.

The US Dollar Index Futures was down 0.03% at 93.79.

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German Ifo business climate hits all-time high July

July 25, 2017, 08:01

Investing.com - German business confidence improved to an all-time high in July, breaking the previous month's record and boosting the outlook for the euro area's largest economy, according to data released on Tuesday.

The Munich-based Ifo institute said its business climate index rose to 116.0 this month from 115.2 in June.

Economists had expected a reading of 114.9.

The current assessment index increased to 125.4 from 124.2 a month earlier, against expectations for a slight decline to 123.8. it was the highest reading since Germany's reunification.

The business expectations index, which measures attitudes toward business prospects over the next six months, climbed to 107.3 this month from 106.8 in June, compared to estimates for a reading of 106.5.

The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.

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Oil rises for second day in a row on OPEC support pledges

July 25, 2017, 07:43

Investing.com - Oil prices continued higher in European trade on Tuesday, extending gains into a second session after OPEC producers pledged further support measures to help speed the rebalancing of global supply and demand.

The U.S. West Texas Intermediate crude September contract was at $46.62 a barrel by 3:40AM ET (0740GMT), up 28 cents, or around 0.6%.

Elsewhere, Brent oil for September delivery on the ICE Futures Exchange in London tacked on 26 cents to $48.87 a barrel.

Oil prices finished higher on Monday after Saudi Arabia pledged to make deep cuts to its crude exports in August.

Saudi Arabia, OPEC’s largest producer, will limit exports to 6.6 million barrels a day in August, energy minister Khalid Al-Falih said after a meeting with fellow crude producers on Monday.

Meanwhile, Nigeria, which has been exempt from this year’s OPEC-led production-cut deal, pledged to take part in cuts once it reaches a production level of 1.8 million barrels a day. The cartel’s latest data put the country’s output at around 1.7 million.

In May, OPEC and some non-OPEC producers, such as Russia, extended an agreement to slash 1.8 million barrels per day in supply until March 2018.

So far, it has had little impact on global inventory levels due to rising supply from producers not participating in the accord, such as Libya and Nigeria, as well as a relentless increase in U.S. shale production.

Investors now looked ahead to weekly data from the U.S. on stockpiles of crude and refined products.

Industry group the American Petroleum Institute is due to release its weekly report at 4:30PM ET (2030GMT) later on Tuesday. Official data from the Energy Information Administration will be released Wednesday, amid forecasts for an oil-stock drop of around 3.0 million barrels.

Elsewhere on Nymex, gasoline futures for August was little changed at $1.559 a gallon, while August heating oil added half a cent to $1.522 a gallon.

Natural gas futures for September delivery ticked up 2.0 cents to $2.902 per million British thermal units.

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Dollar near 13-month lows, with Fed, U.S. politics in focus

July 25, 2017, 07:25

Investing.com -The dollar was struggling near 13-month lows against a currency basket on Tuesday as investors watched political developments in Washington ahead of this week’s Federal Reserve meeting.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was at 93.79 by 03.25 a.m. ET (07.25 a.m. GMT), not far from Monday’s low of 93.65, its weakest since June 2016.

Investors remained focused on the investigation into alleged links between U.S. President Donald Trump’s administration and Russia in last year’s election.

On Monday, Jared Kushner, Trump’s son-in-law and a senior White House adviser, told Senate investigators he had met with Russian officials four times last year but said he did not collude with Moscow.

Investors fear the persistent political turmoil will derail the Trump administration’s pro-growth economic agenda of tax cuts and infrastructure spending, which helped propel the dollar to 14-year peaks after the November election.

Doubts over the Federal Reserve’s plans for a third rate hike this year have also fed into dollar weakness.

The Fed is to hold its next meeting on Wednesday and is widely expected to hold policy steady. Officials may also give some insight into its plans to start normalizing its balance sheet.

The dollar was a touch lower against the yen, with USD/JPY dipping to 110.98. On Monday the pair hit 110.61, the lowest level since mid-June.

The euro was steady against the dollar, with EUR/USD at 1.1651, close to Monday’s 23-month high of 1.1684.

Demand for the euro continued to be underpinned by expectations that the European Central Bank is moving closer to tapering its bond-buying program.

Sterling was little changed against the dollar, with GBP/USD at 1.3020.

The Australian dollar was a touch higher, with AUD/USD rising 0.2% to 0.7939, while the New Zealand dollar edged lower, with NZD/USD at 0.7430.

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Gold holds near 1-month high ahead of Fed meeting

July 25, 2017, 07:18

Investing.com - Gold prices held near their highest level in around a month in European trade on Tuesday, as market players looked ahead to a Federal Reserve policy meeting for any new insight on the timing of the next U.S. rate hike and clues on how the central bank plans to pare back its balance sheet.

Comex gold futures were at $1,256.73 a troy ounce by 3:15AM ET (0715GMT), up $2.60, or about 0.2%. It touched its highest since June 26 at $1,259.00 in the prior session.

Gold prices finished a few cents lower on Monday, ending a six-session win streak.

The Fed is not expected to take action on interest rates at the conclusion of its two-day policy meeting on Wednesday, keeping it in a range between 1.0%-1.25%.

The central bank will release its post-meeting statement as investors look for any change in language which could point more clearly to a rate hike in the months ahead.

Market players will also pay close attention to details of when and how the Fed will start reducing its $4.5 trillion balance sheet.

According to Investing.com’s Fed Rate Monitor Tool, conviction for another rate hike before the end of the year has faded, with just 35% of market players expecting another move by December, as the subdued inflation outlook raised doubts over whether policymakers will be able to stick to their planned tightening path.

The precious metal is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion.

Focus will also be on headlines coming out of Washington, where the Senate is expected to continue working to repeal Obamacare. The investigation into U.S. President Donald Trump campaign's ties to Russia will continue to get attention.

Gold has been well-supported in recent sessions as ongoing political turmoil in the White House and weakness in the U.S. dollar spurred haven demand for the precious metal.

Elsewhere on the Comex, silver futures inched up 4.0 cents, or roughly 0.2%, to $16.48 a troy ounce, after hitting a three-week high of $16.57 a day earlier.

Among other precious metals, platinum was up 0.6% at $937.65, while palladium added 0.6% to $854.15 an ounce.

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Dollar remains under the cosh amid U.S. political concerns

July 25, 2017, 06:51

Investing.com - The dollar remained under pressure Tuesday amid concerns about the Trump administration as the FOMC meeting starts.
The dollar index was off 0.16% at 93.67 at 02:30 ET, off a high of 93.91.
The Trump administration remains mired in the probe into alleged Russian meddling in the U.S. 2016 presidential race.
Trump's son-in-law Jared Kushner Monday said he had met Russian officials but denied any collusion to sway the outcome of the election.
The Fed is expected to stand pat on rates but may give further signals on plans to reduce its bond holdings.
The dollar index was depressed by a firm euro, which held around the mid- $1.16 mark.
The (pound) was also steady against the greenback at above $1.30 mark.
The dollar was also under pressure against the yen, trading below the 111 handle.

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Taiwan stocks higher at close of trade; Taiwan Weighted up 0.02%

July 25, 2017, 06:45

Investing.com – Taiwan stocks were higher after the close on Tuesday, as gains in the Optoelectronic, Trading&Consumer Goods and Electronic Parts/Components sectors led shares higher.

At the close in Taiwan, the Taiwan Weighted added 0.02%.

The best performers of the session on the Taiwan Weighted were Jentech Precision Industrial Co Ltd (TW:3653), which rose 9.99% or 6.90 points to trade at 76.00 at the close. Meanwhile, ALi Corp (TW:3041) added 9.92% or 1.90 points to end at 21.05 and Sumagh High Tech Corp (TW:1475) was up 9.88% or 2.95 points to 32.80 in late trade.

The worst performers of the session were Prince Housing &Development Corp (TW:2511), which fell 8.33% or 1.00 points to trade at 11.00 at the close. Jye Tai Precision Industrial Co Ltd (TW:6165) declined 5.43% or 2.50 points to end at 43.50 and Taiwan Cement Corp (TW:1101) was down 4.03% or 1.45 points to 34.55.

Rising stocks outnumbered declining ones on the Taiwan Stock Exchange by 391 to 365 and 119 ended unchanged.

Shares in ALi Corp (TW:3041) rose to 52-week highs; gaining 9.92% or 1.90 to 21.05. Shares in Sumagh High Tech Corp (TW:1475) rose to 5-year highs; gaining 9.88% or 2.95 to 32.80.

Crude oil for September delivery was up 0.45% or 0.21 to $46.55 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.39% or 0.19 to hit $48.79 a barrel, while the August Gold Futures contract rose 0.24% or 2.95 to trade at $1257.25 a troy ounce.

USD/TWD was down 0.14% to 30.309, while TWD/CNY rose 0.13% to 0.2229.

The US Dollar Index Futures was down 0.16% at 93.67.

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Australia stocks higher at close of trade; S&P/ASX 200 up 0.84%

July 25, 2017, 06:00

Investing.com – Australia stocks were higher after the close on Tuesday, as gains in the Gold, Healthcare and Consumer Discretionary sectors led shares higher.

At the close in Sydney, the S&P/ASX 200 added 0.84%.

The best performers of the session on the S&P/ASX 200 were Isentia Group Ltd (AX:ISD), which rose 5.63% or 0.120 points to trade at 2.250 at the close. Meanwhile, Newcrest Mining Ltd (AX:NCM) added 4.10% or 0.810 points to end at 20.570 and Altium Ltd (AX:ALU) was up 4.08% or 0.345 points to 8.805 in late trade.

The worst performers of the session were Sky Network Television Ltd. (AX:SKT), which fell 4.59% or 0.150 points to trade at 3.120 at the close. Coca-Cola Amatil Ltd (AX:CCL) declined 3.74% or 0.320 points to end at 8.240 and Speedcast International Ltd (AX:SDA) was down 3.23% or 0.120 points to 3.600.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 657 to 431 and 375 ended unchanged.

Shares in Sky Network Television Ltd. (AX:SKT) fell to 5-year lows; losing 4.59% or 0.150 to 3.120. Shares in Coca-Cola Amatil Ltd (AX:CCL) fell to 52-week lows; down 3.74% or 0.320 to 8.240.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, was down 3.63% to 12.745.

Gold Futures for August delivery was up 0.22% or 2.79 to $1257.09 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 0.60% or 0.28 to hit $46.62 a barrel, while the September Brent oil contract rose 0.58% or 0.28 to trade at $48.88 a barrel.

AUD/USD was up 0.19% to 0.7938, while AUD/JPY rose 0.09% to 88.12.

The US Dollar Index Futures was down 0.14% at 93.69.

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Crude gains in Asia ahead of API estimates, upbeat OPEC views

July 25, 2017, 01:50

Investing.com - Crude gains in Asia on Tuesday ahead of industry estimates of U.S. crude and refined product stocks and with sentiment on output curbs supporting markets.

On the New York Mercantile Exchange crude futures for August delivery rose 0.60% to settle at $46.62 a barrel, while on London's Intercontinental Exchange, Brent added 0.39% to $48.85 a barrel.

Overnight, crude futures settled higher on Monday, after Opec producer Saudi Arabia pledged to lower crude exports in August while Nigeria agreed to curb production.

At a gathering of ministers from major crude-producing nations in St. Petersburg, Russia on Monday, Saudi Energy Minister Khalid al-Falih said his country would limit crude oil exports at 6.6 million barrels per day (bpd) in August, almost 1 million bpd below levels a year ago.

The Saudi energy minster added that the production-cut agreement could be extended beyond March if necessary but any further extension would rely on non-compliant nations adhering to the agreement.

Also adding to positive sentiment on oil, were reports suggesting that Nigeria committed to take part in production if it reaches a production level of 1.8m bpd.

Nigeria output reached 1.7 million bpd in June, according to independent sources cited by OPEC in a monthly report.

Some analysts praised Nigeria decision to agree to cap production but expressed concerns about Opec’s compliance rate – with the deal to curb production – which fell to 78% June, the IEA said in its report earlier this month.

In May, Opec and non-Opec members agreed to extend production cuts of 1.8m bpd for a period of nine months until March but rising production from the U.S., Nigeria and Libya has undermined the cartel’s efforts to curb excess supply.

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PBOC Sets yuan parity rate at 6.7485 against dollar

July 25, 2017, 01:36

Investing.com - The People's Bank of China set the yuan mid-point at 6.7485 against the dollar on Tuesday, compared with the previous close of 6.7502.

The China Foreign Exchange Trade System sets the weighted average of prices given by market makers. The highest and lowest offers are excluded from the calculation. The central bank allows the dollar/yuan rate to move no more than 2% above or below the central parity rate.

Market watchers see a yuan level of 7 against the dollar, USD/CNY, as a key touchstone for sentiment in the near term.

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Dollar gains in Asia as Bank of Japan minutes ahead

July 25, 2017, 01:29

Investing.com - The dollar gained in Asia on Tuesday in light trade ahead of lagging central bank minutes from Japan and attention on the Fed's policy review decision on Wednesday.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose by 0.05% to 93.87.

Overnight, the dollar steadied above thirteenth-month lows against a basket of global currencies on Monday, as mostly upbeat U.S. economic data helped offset U.S. political jitters.

Fresh on the heels of posting a two-week losing streak, the greenback attempted to make a positive start to the week, after manufacturing and services data topped forecasts, easing concerns about a slowdown in the U.S. economy.

On Monday, Markit's manufacturing and services flash surveys both showed the U.S. beating expectations.

The pair of bullish economic reports were partly offset, however, by weaker-than-expected housing data and continued U.S. political uncertainty.

Sales of second-hand homes slid in June to the lowest level since February as tight supply and high prices weighed on housing activity despite strong demand.

Sales of previously-owned homes fell 1.8% in June from the previous month, to an annualized pace of 5.52m units, the National Association of Realtors said on Monday.

President Donald Trump's son-in-law and senior advisor Jared Kusher said neither he nor anyone in the Trump campaign team colluded with Russian officials over the US election.

The pound was the main beneficiaries of dollar weakness, rising despite the International Monetary Fund (IMF) slashing its UK GDP growth forecast from 2% to 1.7% amid concerns about a slowdown in economic activity.

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Peru stocks lower at close of trade; S&P Lima General down 0.03%

July 24, 2017, 09:25

Investing.com – Peru stocks were lower after the close on Monday, as losses in the Banking&Financials, S&P Lima Juniors and Agriculture sectors led shares lower.

At the close in Lima, the S&P Lima General declined 0.03%.

The best performers of the session on the S&P Lima General were Trevali Mining (LM:TV), which rose 4.90% or 0.050 points to trade at 1.070 at the close. Meanwhile, Unacem (LM:CEL) added 2.92% or 0.070 points to end at 2.470 and ENGIE Energia Peru SA (LM:ENGI) was up 2.64% or 0.210 points to 8.160 in late trade.

The worst performers of the session were Relapasa (LM:REL), which fell 3.02% or 0.007 points to trade at 0.225 at the close. Volcan Minera (LM:VOL_pb) declined 1.14% or 0.010 points to end at 0.870 and Credicorp (LM:BAP) was down 0.75% or 1.40 points to 184.20.

Rising stocks outnumbered declining ones on the Lima Stock Exchange by 9 to 6 and 14 ended unchanged.

Crude oil for September delivery was up 1.55% or 0.71 to $46.48 a barrel. Elsewhere in commodities trading, Brent oil for delivery in September rose 0.06% or 0.03 to hit $48.72 a barrel, while the August Gold Futures contract rose 0.04% or 0.52 to trade at $1255.42 a troy ounce.

USD/PEN was down 0.08% to 3.2440, while EUR/PEN unchanged 0.00% to 3.7788.

The US Dollar Index Futures was up 0.04% at 93.82.

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The Day Ahead: 3 things to watch

July 24, 2017, 09:22

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow

Alphabet to drag the Nasdaq down?

Google parent company Alphabet Inc Class A (NASDAQ:GOOGL) is likely to be ‘one of the stocks to watch’ on Tuesday, after the tech giant posted a 27.7% drop in quarterly profit on Monday after the U.S. closing bell, following the $2.74 billion regulatory fine levied by the European Union.

Alphabet beat expectations on both the top and bottom line, reporting earnings of $5.01 per share on $26.01 billion in revenue, compared to earnings of $4.49 per share on $21.5 billion in revenue a year ago.

A dip in net income for the quarter, however, to $3.52 billion compared to $4.88 billion a year ago offset better-than-expected earnings and revenue, as shares of Alphabet slipped more than 2% in after-hours trade.

Investors are expected to closely monitor the tech giant's share price for any further downside movement.

The pound awaits fresh direction

A speech by Bank of England MPC member Andy Haldane is expected to provide further insight on whether the central bank continues to support the idea of tapering its ultra-accommodative monetary policy measures later this year.

Haldane’s MPC colleague, Ben Broadbent, recently said the central bank should resist increasing interest rates while the direction of the economy remains unclear.

Despite Broadbent’s dovish comments, GBP/USD has edged higher on expectations that the Bank of England would adopt tighter monetary policy measures, following hawkish comments in June from Bank of England governor Mark Carney.

Are US consumers confident about the US economy?

Consumer confidence data for July will provide investors with a fresh opportunity to gauge sentiment concerning US economic activity.

Economists forecast consumer confidence to show a decline for July, falling to 116.5 compared to a reading of 118.9 in June.

The consumer confidence data for July is slated for Tuesday 10am ET, a day before the Federal Reserve’s policy decision.

Ahead of the Fed’s policy decision, the dollar has struggle to hold onto gains falling to 93.82 against it rivals on Tuesday.

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Brazil stocks higher at close of trade; Bovespa up 0.64%

July 24, 2017, 08:35

Investing.com – Brazil stocks were higher after the close on Monday, as gains in the Basic Materials, Real Estate and Consumption sectors led shares higher.

At the close in Sao Paulo, the Bovespa added 0.64%.

The best performers of the session on the Bovespa were Metalurgica Gerdau SA (SA:GOAU4), which rose 4.18% or 0.22 points to trade at 5.48 at the close. Meanwhile, Estacio Participacoes SA (SA:ESTC3) added 3.35% or 0.54 points to end at 16.67 and Tim Participacoes SA (SA:TIMP3) was up 3.35% or 0.34 points to 10.49 in late trade.

The worst performers of the session were Banco Santander Brasil SA Unit (SA:SANB11), which fell 2.43% or 0.63 points to trade at 25.25 at the close. Natura Cosmeticos SA (SA:NATU3) declined 2.31% or 0.55 points to end at 23.30 and Braskem SA (SA:BRKM5) was down 1.57% or 0.61 points to 38.24.

Rising stocks outnumbered declining ones on the Sao Paulo Stock Exchange by 218 to 170 and 38 ended unchanged.

The CBOE Brazil Etf Volatility, which measures the implied volatility of Bovespa options, was up 1.58% to 25.66.

Gold Futures for August delivery was up 0.05% or 0.58 to $1255.48 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.46% or 0.67 to hit $46.44 a barrel, while the September US coffee C contract fell 2.66% or 3.62 to trade at $132.70 .

USD/BRL was up 0.11% to 3.1463, while EUR/BRL fell 0.08% to 3.6627.

The US Dollar Index Futures was up 0.03% at 93.81.

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Alphabet sheds 2.6% in after hours trade amid profit slump

July 24, 2017, 08:32

Investing.com - Google’s parent company, Alphabet (NASDAQ:GOOGL) reported a 27.7% drop in quarterly profit, following the $2.74 billion regulatory fine levied by the European Union.

Alphabet reported net income of $3.52 billion, or $5.01 per share on $26.01 billion in revenue, compared to net income of $4.88 billion or earnings of $4.49 per share on $21.5 billion in revenue a year ago.

Analysts were expecting Alphabet to report earnings of $4.49 per share on revenue of $25.6 billion.

Despite earnings that topped expectations on both the bottom and top line, shares of Alphabet slipped more than 2% in after hours trade, as the tech giant recognised a non-deductible $2.74 billion European Union fine in its results, lowering profit.

Excluding the one-time charge, Google said it earned $8.90 per share.

Alphabet Chief Financial Officer hailed the quarter a success pointing to an uptick in revenues and signalled the company would continue to invest in opportunities that will spur top-line growth.

"With revenues of $26 billion, up 21% versus the second quarter of 2016 and 23% on a constant currency basis, we're delivering strong growth with great underlying momentum, while continuing to make focused investments in new revenue streams," said Ruth Porat, CFO of Alphabet.

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Mexico stocks higher at close of trade; IPC up 0.19%

July 24, 2017, 08:29

Investing.com – Mexico stocks were higher after the close on Monday, as gains in the Healthcare, Telecoms Services and Industrials sectors led shares higher.

At the close in Mexico, the IPC added 0.19%.

The best performers of the session on the IPC were Genomma Lab Internacional SAB De CV (MX:LABB), which rose 3.68% or 0.880 points to trade at 24.800 at the close. Meanwhile, Kimberly - Clark De Mexico A (MX:KIMBERA) added 2.17% or 0.790 points to end at 37.130 and Grupo Aeroportuario del Pacifico SAB De CV Class B (MX:GAPB) was up 2.08% or 4.29 points to 210.65 in late trade.

The worst performers of the session were Coca Cola Femsa SAB De CV (MX:KOFL), which fell 5.09% or 8.13 points to trade at 151.54 at the close. VOLARIS A (MX:VOLARA) declined 2.49% or 0.65 points to end at 25.46 and Grupo Financiero Santander Mexico SAB De CV (MX:SANMEXB) was down 2.22% or 0.830 points to 36.540.

Rising stocks outnumbered declining ones on the Mexico Stock Exchange by 142 to 97 and 15 ended unchanged.

Shares in Grupo Aeroportuario del Pacifico SAB De CV Class B (MX:GAPB) rose to all time highs; gaining 2.08% or 4.29 to 210.65.

Gold Futures for August delivery was up 0.06% or 0.78 to $1255.68 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.40% or 0.64 to hit $46.41 a barrel, while the September Brent oil contract rose 1.25% or 0.60 to trade at $48.66 a barrel.

USD/MXN was up 0.28% to 17.7039, while EUR/MXN rose 0.07% to 20.6109.

The US Dollar Index Futures was up 0.03% at 93.81.

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U.S. stocks mixed at close of trade; Dow Jones Industrial Average down 0.31%

July 24, 2017, 08:25

Investing.com – U.S. stocks were mixed after the close on Monday, as gains in the Technology, Financials and Healthcare sectors led shares higher while losses in the Telecoms, Utilities and Consumer Goods sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average fell 0.31%, while the S&P 500 index declined 0.11%, and the NASDAQ Composite index added 0.36%.

The best performers of the session on the Dow Jones Industrial Average were Caterpillar Inc (NYSE:CAT), which rose 1.49% or 1.59 points to trade at 108.18 at the close. Meanwhile, Apple Inc (NASDAQ:AAPL) added 1.21% or 1.82 points to end at 152.09 and The Travelers Companies Inc (NYSE:TRV) was up 0.98% or 1.23 points to 126.38 in late trade.

The worst performers of the session were General Electric Company (NYSE:GE), which fell 1.85% or 0.48 points to trade at 25.43 at the close. Johnson&Johnson (NYSE:JNJ) declined 1.70% or 2.30 points to end at 133.01 and Nike Inc (NYSE:NKE) was down 1.67% or 1.00 points to 58.95.

The top performers on the S&P 500 were Xerox Corp (NYSE:XRX) which rose 3.77% to 30.56, Wynn Resorts Limited (NASDAQ:WYNN) which was up 3.27% to settle at 138.53 and NRG Energy Inc (NYSE:NRG) which gained 3.23% to close at 25.28.

The worst performers were Hasbro Inc (NASDAQ:HAS) which was down 9.44% to 105.00 in late trade, Foot Locker Inc (NYSE:FL) which lost 4.56% to settle at 45.05 and Halliburton Company (NYSE:HAL) which was down 4.21% to 42.51 at the close.

The top performers on the NASDAQ Composite were Top Ships Inc (NASDAQ:TOPS) which rose 71.15% to 0.4450, Eltek Ltd (NASDAQ:ELTK) which was up 53.23% to settle at 0.950 and ESSA Pharma Inc (NASDAQ:EPIX) which gained 41.71% to close at 0.440.

The worst performers were Cytori Therapeutics Inc (NASDAQ:CYTX) which was down 56.77% to 0.4799 in late trade, Hibbett Sports Inc (NASDAQ:HIBB) which lost 33.50% to settle at 13.10 and MagneGas Corp (NASDAQ:MNGA) which was down 25.81% to 0.920 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1761 to 1330 and 149 ended unchanged; on the Nasdaq Stock Exchange, 1330 rose and 1141 declined, while 149 ended unchanged.

Shares in Xerox Corp (NYSE:XRX) rose to 52-week highs; rising 3.77% or 1.11 to 30.56. Shares in Foot Locker Inc (NYSE:FL) fell to 3-years lows; falling 4.56% or 2.15 to 45.05. Shares in NRG Energy Inc (NYSE:NRG) rose to 52-week highs; gaining 3.23% or 0.79 to 25.28. Shares in General Electric Company (NYSE:GE) fell to 52-week lows; losing 1.85% or 0.48 to 25.43. Shares in Cytori Therapeutics Inc (NASDAQ:CYTX) fell to 52-week lows; losing 56.77% or 0.6301 to 0.4799. Shares in Hibbett Sports Inc (NASDAQ:HIBB) fell to 5-year lows; down 33.50% or 6.60 to 13.10. Shares in MagneGas Corp (NASDAQ:MNGA) fell to 52-week lows; losing 25.81% or 0.320 to 0.920.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 1.28% to 9.48.

Gold Futures for August delivery was up 0.06% or 0.74 to $1255.64 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September rose 1.40% or 0.64 to hit $46.41 a barrel, while the September Brent oil contract rose 1.25% or 0.60 to trade at $48.66 a barrel.

EUR/USD was down 0.19% to 1.1642, while USD/JPY fell 0.01% to 111.11.

The US Dollar Index Futures was up 0.04% at 93.82.

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