February natural gas NGG14 -1.15% advanced 19 cents, or 3.8%, to settle at $5.03 per million British thermal units on Nymex. The contract expires at the close of Nymex trading on Wednesday. March natural gas NGH14 -0.97% , which will become the front month, added 27 cents, or 5.7%, to $4.94 per million British thermal units. Click Here To Register For Free Trial Services
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Yahoo Inc. YHOO -2.43% will report after the U.S. market close Tuesday. European stocks broke a three-day losing streak, while Asia closed with mostly mild losses. Crude-oil and natural-gas prices were higher, while gold was moving south. The dollar pared gains against the yen USDJPY +0.30% after the durable goods data disappointed. Click Here To Register For Free Trial Services
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Wall Street finished a volatile session lower on Monday. The S&P 500 SPX +0.61% ended down 8.73 points, or 0.5%, to 1,781.56 in late trade as downbeat home-sales data weighed on investors, after briefly venturing into positive territory. The Nasdaq Composite COMP +0.35% was the worst-performing index on Monday. Click Here To Register For Free Trial Services
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The pressure on technology stocks was attributed to Apple AAPL +0.41% , which posted disappointing iPhone sales in its fiscal second-quarter report after Monday’s close. Shares followed up a 7.6% after-hours drop with a continuing decline of 7.5% in premarket trading. Click Here To Register For Free Trial Services
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Futures for the Nasdaq-100 index NDH4 +0.49% fell 14.25 points, or 0.3%, to 3,488.75, while the Dow industrials futures DJH4 +0.41% were up 46 points, or 0.3%, to 15,833. Futures for the S&P 500 index SPH4 +0.49% were up 3.4 points, or 0.2% to 1,779.10. Click Here To Register For Free Trial Services
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Elsewhere in metals trading, platinum for April delivery PLJ4 +0.01% rose $1.20, or 0.1%, to $1,422.30 an ounce while March palladium PAH4 +0.30% added $2.60, or 0.4%, to $725.15 an ounce. High-grade copper for March delivery HGH4 +0.17% tacked on a penny to $3.26 a pound. Click Here To Register For Free Trial Services
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In electronic trading, gold futures for February delivery GCG4 -0.29% shed $6.40, or 0.5%, to $1,256.90 an ounce. March silver SIH4 +0.06% held steady at $19.79 an ounce. Gold on Monday finally ran out of gas, logging its first decline in three sessions, but still managed to finish above the day’s lows thanks to a still-struggling U.S. stock market. Click Here To Register For Free Trial Services
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The S&P 500’s SPX -0.49% biggest company AAPL -8.08% is generating buzz among value investors, especially after the brutal reaction to Monday’s earnings report.
Apple shares were down 7.5% to $505.89 after-hours, denting Nasdaq 100 futures, and sending ETFs that contained a big chunk of Apple — including the Technology Select Sector SPDR XLK -0.86% — down 1%. Click Here To Register For Free Trial Services
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“The first mover advantage is very important in the ETF market,” he said. But Nadig said FXI in some ways has the “most naive” approach to China. He likened the large-cap ETF to the Dow Jones Industrial Average DJIA , which is well known, but far from the only benchmark that pros use to track U.S. stocks.
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Google Inc. GOOG -3.13% has acquired artificial-intelligence firm DeepMind Technologies Ltd., reports said Monday, with a Recode report citing a price of $400 million for the London-based start-up. The company was founded in 2012 and employs learning algorithms for use in simulations, e-commerce and games, Reuters said. Click Here To Register For Free Trial Services
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The dollar was off sharply, having fallen 1% against the yen on Friday. It stabilized on Monday at ¥102.32. Elsewhere in Asia, Hong Kong’s Hang Seng Index sank 2.1%, South Korea’s Kospi dropped 1.7% and Indonesia’s JSX dived 2.8%.
Investors are also bracing for key events this week. Attention is focusing on Beijing to see how it will resolve a troubled loan involving a major Chinese bank and a shadow lender that is due to mature this Friday. A default could batter confidence in China’s loosely regulated shadow-banking sector. Click Here To Register For Free Trial Services
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Elsewhere in metals trading, March palladium PAH4 +0.23% rose $1.15, or 0.2%, to $735.95 an ounce while platinum for April delivery PLJ4 +0.48% moved up $3.50 an ounce, or 0.2%, to $1,432.10. March high-grade copper HGH4 +0.08% lost a penny to $3.27 a pound.
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Gold for February delivery GCG4 +0.59% jumped another $9.50, or 0.8%, to $1,273.80 an ounce. Prices ended Friday with a 1% rally for the week, closing at their highest level since Nov. 19. Over the past five weeks, gold has managed to tack on 5%.
March silver SIH4 +0.78% also got into the act, rising 17 cents, or 0.8%, to $19.93 an ounce. Click Here To Register For Free Trial Services
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Meanwhile, the Australian dollar AUDUSD +0.23% rose modestly to 87.15 U.S. cents from Friday’s 87.03 U.S. cents. The greenback on Monday bought 2.3251 Turkish lira USDTRY -0.35% , easing from 2.3376 lira on Friday, when the dollar recorded its 10th consecutive win against the currency. The lira has been dogged by a government corruption scandal that’s prompted mass protests calling for the resignation of Prime Minister Recep Tayyip Erdogan. Click Here To Register For Free Trial Services
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THE Straits Times Index (STI) ended the day’s trade 0.78 per cent lower at 3075.99 points yesterday.
The FTSE ST Mid Cap Index fell 0.67 per cent while the FTSE ST Small Cap Index lost 0.27 per cent.
Of the actives, DBS declined 1.01 per cent and Keppel Corp retreated by 1.84 per cent.
OCBC lost 0.73 per cent and CapitaLand depreciated by 1.39 per cent.
The outperforming sector, FTSE ST Telecommunications advanced 0.49 per cent. Of its two biggest stocks, SingTel gained 0.57 per cent and StarHub appreciated by 0.24 per cent. Click Here To Register For Free Trial Services
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Weighing on techs, shares of Apple Inc. AAPL +0.21% were pointing lower in thin premarket trade. Rival Samsung Electronics Co. KR:005930 +0.62% forecast a weak first half after fourth-quarter earnings showed a sharp slowdown in growth. See Will Samsung outlook spook or rally Apple investors? Click Here To Register For Free Trial Services
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Recouping some of the earlier losses, futures for the Dow Jones Industrial Average DJH4 -2.11% were down 71 points, or 0.5%, to 16,080, while those for the Standard & Poor’s 500 index SPH4 -2.41% were 8.6 points, or 0.5%, lower to 1,815.50. Futures for the Nasdaq-100 index NDH4 -2.36% lost 15.25 points, or 0.4%, to 3,598.50. Click Here To Register For Free Trial Services
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The Japanese yen USDJPY -0.0761% , the dollar was buying ¥103.40, up from ¥103.10 late Thursday. The dollar slid more than 1% to below the ¥104 level on Thursday in the wake of an unexpected contraction in China’s manufacturing sector in January, as well as a decline in an preliminary gauge of U.S. manufacturing to a three-month low this month, with some of the slowdown stemming from cold weather. Click Here To Register For Free Trial Services
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Heating oil led the price gains among the Nymex energy futures, with the February contract settling at $3.077 a gallon, up by almost 4 cents, or 1.3%. February gasoline RBG4 +0.06% slipped 1.5 cents, or 0.6%, to $2.66 a gallon.
Distillate stockpiles, which include heating oil, fell by 3.2 million barrels, the EIA said, while gasoline supplies climbed 2.1 million barrels. Analysts were looking for distillate inventories to fall by 1.2 million barrels and gasoline supplies to rise by 1.7 million barrels. Click Here To Register For Free Trial Services
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EBay Inc. EBAY +0.29% posted a 13% sales gain, due in part to a 19% rise at its PayPal unit. Its shares jumped 7.5% in after-hours trading. The online marketplace said Carl Icahn, who holds an 0.8% interest in eBay, is pushing for it to spin off its payments arm PayPal into a separate company. Click Here To Register For Free Trial Services
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