Oil slips, Brent around $63/bbl as Iran concerns fade
Oil edged down, with Brent at around $63 a barrel on Tuesday under pressure from weaker global demand forecasts and the full restart of Libya’s largest oil field despite continuing supply worries stemming from Iran’s capture of a British oil tanker.
Wall St. boosted by upbeat earnings
U.S. stocks rose on Tuesday, boosted by upbeat earnings and forecasts from Coca-Cola and United Technologies, while a two-year debt ceiling and budget deal between President Donald Trump and Congress buoyed sentiment.
United Tech profit beats on aircraft parts demand after MAX grounding
United Technologies on Tuesday raised its full-year sales and profit forecasts, aided by an increase in demand for its aircraft maintenance parts and services as airlines grapple with overworked planes due to the grounding of Boeing’s MAX jets.
Lockheed looking to shift sourcing F-35 parts to U.S. from Turkey: CEO
Lockheed Martin Corp said on Tuesday it has been working to establish alternate supply sources for F-35 parts in the United States after the Pentagon decided last week https://reut.rs/2y5bKbX to remove Turkey from the fighter jet program.
Multiple sclerosis drug helps Biogen beat Wall St. profit expectations
Biogen Inc reported better-than-expected second quarter profit and raised its 2019 earnings forecast on Tuesday, driven by higher sales of its top-selling multiple sclerosis drug Tecfidera and lower taxes.
Coca-Cola’s coffee and zero sugar soda mix lifts 2019 goals, shares
Coca-Cola Co beat second-quarter earnings expectations and raised its organic revenue forecast for the full year thanks to higher sales of its zero-sugar sodas, soft drinks with new flavors and ready-to-drink coffees.
Stocks rise on earnings; sterling falls
A host of upbeat earnings pushed U.S. stocks higher on Tuesday and world stocks rose in anticipation of central bank easing, while pound sterling fell on the expected confirmation of hard-Brexit advocate Boris Johnson as Britain’s next prime minister.
U.S. home sales tumble as prices race to record high
U.S home sales fell more than expected in June as a persistent shortage of properties pushed prices to a record high, suggesting the housing market was struggling to regain speed since hitting a soft patch last year.
EU has 35 billion-euro list if U.S. hits its cars, trade chief says
The European Union will retaliate with extra duties on 35 billion euros ($39.1 billion) worth of U.S. goods if Washington imposes punitive tariffs on EU cars, the bloc’s trade chief said on Tuesday.
Toymaker Hasbro profit draws power from ‘Avengers’, ‘Magic’ card game
Hasbro Inc on Tuesday beat Wall Street estimates for quarterly profit, powered by higher demand for action toys of blockbuster “Avengers: Endgame” and collectible card game Magic: The Gathering, sending its shares to a record high.
