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Independent Articles For Our Investors

Oil prices drop toward session lows, but gold trades near the day's highs

Friday July 21st, 2017 04:36:22 PM
Oil prices dropped to fresh session lows Friday, pressured as tanker-tracker Petro-Logistics said OPEC oil output is poised to climb by 145,000 barrels a day this month, according to a report from Reuters. The news came ahead of a weekly update on the number of active U.S. oil rigs from Baker Hughes. Gold prices, meanwhile, touched new session highs, finding some support as a haven investment following reports that White House Press Secretary Sean Spicer has resigned. September West Texas Intermediate crude fell $1.09, or 2.3%, to $45.83 a barrel, after a low at $45.71. August gold traded at $1,252.70 an ounce, up $7.20, or 0.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Dow's early tumble is broad based and led by Goldman, GE and Caterpillar stocks

Friday July 21st, 2017 02:12:50 PM
The Dow Jones Industrial Average on Friday was seeing early modest losses on Friday, but the day's early declines were broad based and led by a stumble in shares of Goldman Sachs Group Inc., General Electric and Caterpillar Inc. Goldman's stock was shaving about 15 points from the price-weighted blue-chip gauge. Goldman has been sinking since reporting second-quarter results that revealed a 40% fall in its bread-and-butter fixed-income, currencies and commodities trading business. The investment bank performed the worst among its peers in trading revenue. Shares are on track to log their steepest weekly decline since the period ended June 2. Meanwhile, General Electric and Caterpillar's shares were cutting a combined 20 points from the Dow. GE's stock turned lower after outgoing CEO Jeff Immelt delivered a downbeat outlook for its full-year 2017 earnings, despite second-quarter results that were better-than-expected. Immelt also offered a downbeat outlook for the oil-and-gas industry, which may have helped to drag industrial giant Caterpillar's shares lower. The Dow was trading off 0.3% at 21,545, while the S&P 500 index slumped by 0.2% at 2,468, pressured by a 0.6% retreat in industrials and energy , weighed by a slide in crude-oil prices . The Nasdaq Composite Index was off 0.2% at 6,376, and threatened to snap a 10-session win streak, matching its longest since Feb. 24, 2015. For the week, the S&P 500 and the Nasdaq Composite are on pace to posts gains, while the Dow is fighting off a weekly drop, as earnings season gets under way. In other assets, the euro continued its confounding surge, following the European Central Bank's decision to stand pat on its mix of accommodative policy programs, as ECB President Mario Draghi attempted to tamp down statements made in late June that were viewed as hinting at tapering of easy-money measures begun in the wake of the 2008-'09 financial crisis. The euro was most recently at $1.1647, versus the dollar and up 1.5% on the week, with most of those gains coming Thursday. The 10-year Treasury note , meanwhile, was drawing bidders, pushing yields, which move inversely to prices, lower. The benchmark yield stood at 2.24%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Has Goldman Sachs lost its golden trading touch?

Tuesday July 18th, 2017 06:14:12 PM
Goldman Sachs has had knack for winning even when much of Wall Street is losing, but that golden touch seems to be fading.


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The above articles are for your information only and do not necessarily reflect the opinions or beliefs of Paul Albarian & Associates, LLC