U.S. producer prices barely rise as services remain subdued
U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged this year.
China to significantly increase U.S. soybean imports after Phase 1 deal: Global Times
China will significantly increase imports of U.S. soybeans after the Phase 1 trade deal is signed, the Global Times reported on Wednesday, citing comments from a senior Chinese economist at a state think tank.
OPEC expects lower demand for its oil as U.S. hits new milestone
OPEC expects lower demand for its crude oil in 2020 even as global demand rises, it said on Wednesday, as rival producers grab market share and the United States looks set for another output record.
Bank of America beats on bond trading boost, loan growth
Bank of America Corp beat analysts’ estimates for quarterly profit on Wednesday, as a boost from bond trading and growth in its loan book helped the second-biggest U.S. lender blunt a hit from lower interest rates.
Oil slips on doubts about U.S.-China deal, OPEC outlook
Oil prices slipped on Wednesday on concerns that the U.S./China Phase 1 trade deal may not provide much of a demand boost because the United States intends to keep tariffs on Chinese goods until a second phase deal.
Goldman Sachs profit misses estimates on higher costs, weak M&A
Goldman Sachs Group Inc on Wednesday reported quarterly profit that missed analysts’ estimates by a wide margin, hurt by weakness in its investment banking business and higher operating costs.
Futures mostly lower as investors assess U.S.-China trade deal, earnings
U.S. stock index futures were marginally lower on Wednesday ahead of the release of details of an initial U.S.-China trade deal, with investors also digesting the second round of bank earnings after a strong set of reports on Tuesday.
Target blames toys, electronics for weak holiday sales, shares fall 8%
Target Corp said on Wednesday it missed its own expectations for holiday season sales, citing weak demand for toys and electronics for growth of just 1.4% and dragging shares across the retail sector lower.
Pharmacy unit boosts UnitedHealth as costs rise
UnitedHealth Group Inc reported a better-than-expected quarterly profit on Wednesday, as the largest U.S. health insurer managed to control medical costs and made gains with the unit that houses its pharmacy benefits management business.
Goldman Sachs profit falls on investment banking weakness, higher costs
Goldman Sachs Group Inc reported a 26% drop in quarterly profit on Wednesday, hurt by weakness in its investment banking business and higher operating costs.
