Oil drops to $64 on Fed outlook, ample supply
Oil dropped to around $64 a barrel on Thursday, declining for the first time in six days, after the U.S. Federal Reserve dampened hopes for a string of interest rate cuts and as rising U.S. output helped keep the market well supplied.
BMW says it can shift production to Europe from Oxford if Brexit results in no deal
BMW’s Chief Executive on Thursday said the German carmaker can move more production of its Mini to a plant in the Netherlands if Britain fails to strike a trade deal with the European Union after its exit from the common market.
U.S. weekly jobless claims rise; labor market still tightening
The number of Americans filing applications for unemployment benefits increased last week, but the trend in claims remained consistent with tightening labor market conditions.
Fannie Mae net income falls, seen paying $3.4 billion to U.S. Treasury
Fannie Mae’s net income fell in the second quarter from a year-ago due to losses on its derivatives, while it is expected to pay $3.4 billion in dividends to the U.S. Treasury, the No. 1 U.S. mortgage financing agency said on Thursday.
Kellogg’s profit and sales beat estimates on strong snacks demand
Kellogg Co beat Wall Street expectations for quarterly sales and profit on Thursday, driven by higher demand for its snacks, including Pringles and Pop-Tarts, in North America, sending its shares up about 4% before the bell.
Britain’s LSE delivers ‘defining’ $27 billion Refinitiv deal in data drive
London Stock Exchange has agreed to buy financial information provider Refinitiv in a $27 billion deal aimed at offering trading across regions and currencies and establishing the British company as a rival to Bloomberg.
Pickup trucks drive GM second quarter profit beat despite sales drop
General Motors Co posted a better-than-expected net profit on Thursday as high-margin pickup trucks, SUVs and crossovers helped overcome slowing sales in the United States and China, and reiterated its full-year earnings forecast.
Pizza Hut rebound bolsters Yum Brands’ profit beat
Yum Brands Inc beat analysts’ expectations for quarterly profit and sales on Thursday, as the restaurant chain operator benefited from better-than-expected growth at all its restaurant chains, including Pizza Hut, sending its shares up 4%.
Bombardier posts loss, lowers 2019 profit forecast as rail woes persist
Bombardier Inc on Thursday lowered its full-year core earnings and free cash flow forecasts, and reported a quarterly loss, as the Canadian plane and train maker wrestles with challenges in its important rail division.
Futures edge higher as focus shifts from Fed to earnings
U.S. stock futures bounced on Thursday, a day after the S&P 500 and Dow saw their worst day since May, as focus shifted from the Federal Reserve’s cautious stance on further interest rate cuts to corporate earnings, which have been robust.
