Oil up but set for weekly loss

Oil up but set for weekly loss

Oil prices rose on Friday on signs of surging demand in China, the world’s second-biggest oil consumer, although the market was heading for a second week of losses on concern that trade wars were curbing economic activity and rising U.S. inventories. Continue Reading Below Benchmark Brent crude oil was up 20 cents a barrel at $79.49 by 0740 GMT. U.S. light crude was 15 cents higher at $68.80. For the week, Brent crude was 1…

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Blackstone 3Q profit beats estimates amid market rise

Blackstone 3Q profit beats estimates amid market rise

NEW YORK (Reuters) – Blackstone Group LP, the world’s largest manager of alternative assets, modestly exceeded analyst expectations with an 11 percent jump in third-quarter earnings on Thursday, as climbing equity markets buoyed its holdings. Continue Reading Below The New York-based firm’s economic net income (ENI) per unit for the three months through September was 76 cents, compared to the mean forecast for 74 cents, according to Thomson Reuters I/B/E/S. A year earlier, Blackstone reported ENI…

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Oil inches up on surprise decline in crude inventories

Oil inches up on surprise decline in crude inventories

Oil prices rose for a fourth day on Wednesday after industry data showed a surprise decline in U.S. crude inventories and tension over the disappearance of a prominent Saudi journalist stoked supply worries. Continue Reading Below Brent crude was up 15 cents at $81.56 a barrel by 0735 GMT, after gaining $1.15 in the previous three sessions. The global benchmark, which hit a two-week low late last week as equity markets dropped, is trading around…

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Railroad operator CSX’s quarterly profit tops Wall Street target

Railroad operator CSX’s quarterly profit tops Wall Street target

CSX Corp on Tuesday reported quarterly profit that topped Wall Street’s view, as the No. 3 U.S. railroad operator benefited from ongoing cost-cutting, broad-based volume growth and higher prices for moving freight. Continue Reading Below Third-quarter net income was $894 million, or $1.05 per share, topping the average estimate of 94 cents, according to Refinitiv data. In the same period last year, CSX earned $459 million, or 51 cents per share. Revenue increased 14 percent…

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Goldman Sachs profit beats on higher equity trading, investment banking

Goldman Sachs profit beats on higher equity trading, investment banking

Strong earnings from big banks may help US stocks recover Belpointe Asset Management chief strategist David Nelson, The Stock Swoosh’s Melissa Armo and Payden & Rygel chief economist Jeffrey Cleveland discuss how strong earnings from JPMorgan Chase, Citigroup and Wells Fargo can help the stock market recover from the selloff. (Reuters) – Goldman Sachs reported a better-than-expected quarterly profit on Tuesday, driven by its equities trading and investment banking businesses that offset weakness in bond trading….

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Johnson & Johnson quarterly profit rises 4.5%

Johnson & Johnson quarterly profit rises 4.5%

Oct 16 (Reuters) – Johnson & Johnson on Tuesday reported quarterly profit above estimates and raised its full-year forecast, as demand for its cancer drugs Zytiga and Imbruvica helped offset decline in sales of blockbuster drug, Remicade. Continue Reading Below J&J said it now expects adjusted 2018 earnings per share to be in the range of $8.13 and $8.18, up from its previous range of $8.07 to $8.17. Sales of rheumatoid arthritis treatment Remicade fell 16.3 percent to $1.38…

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UnitedHealth 3Q earnings and revenue top expectations

UnitedHealth 3Q earnings and revenue top expectations

article (AP Photo/Jim Mone, File) UnitedHealth Group added more members to its health plans in the third quarter, helping it to post a profit well above Wall Street estimates and boost its earnings forecast for the year. Continue Reading Below The largest U.S. health insurer said it now expects full-year adjusted earnings per share to approach $12.80, compared with its prior forecast of between $12.50 and $12.75. While other health players including CVS Health, Aetna…

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Oil falls on US shale output, expected stocks data

Oil falls on US shale output, expected stocks data

LONDON, Oct 16 (Reuters) – Oil prices fell on Tuesday on evidence of higher U.S. oil production and increasing U.S. crude inventories, but reports of a fall in Iranian oil exports helped to limit losses. Continue Reading Below Brent crude was down 50 cents a barrel at $80.28 by 1320 GMT. U.S. light crude was 40 cents lower at $71.38. “Shale oil production continues unabated in the United States,” said Carsten Fritsch, commodities analyst at Commerzbank. “Rising U.S. oil production is one key reason why…

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Oil prices climb amid Saudi tensions

Oil prices climb amid Saudi tensions

Crude oil futures rose on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices. Continue Reading Below Crude markets were also supported in the wake of data that showed South Korea did not import any oil from Iran in September for the first time in six years, before U.S. sanctions against the Middle Eastern country take effect…

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Oil prices rise on signs Iranian crude exports fall further

Oil prices rise on signs Iranian crude exports fall further

Oil prices rose on Tuesday as more evidence emerged that crude exports from Iran, OPEC’s third-largest producer, are declining in the run-up to the re-imposition of U.S. sanctions and as a hurricane moved across the Gulf of Mexico. Continue Reading Below Brent crude was up 45 cents, or 0.5 percent, at $84.36 a barrel by 0629 GMT, having fallen as low as $82.66 in the previous session before largely recovering. Brent hit a four-year high…

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