U.S. homebuilding fell for a third straight month in July amid a steep decline in the construction of multi-family housing units, but a jump in permits to a seven-month high offered hope for the struggling housing market.
U.S. stock index futures rose 1% on Friday, as hopes of more stimulus from central banks helped lift some gloom in what has been a turbulent week for markets.
Deere & Co.’s third-quarter earnings on Friday missed Wall Street estimates, hurt by the U.S.-China trade war that has dented the demand for its farm machines, forcing the company to revise down its full-year profit and sales growth forecasts.
World stocks rose on Friday as expectations grew of further stimulus by central banks, offsetting worries about slowing economic growth, which intensified this week as the U.S. yield curve inverted for the first time since 2007.
Deere & Co.’s third-quarter earnings on Friday missed Wall Street estimates, hurt by the U.S.-China trade war that has dented the demand for farm equipment, forcing the company to revise down its full-year profit and sales growth forecasts.
U.S. 30-year Treasury yields fell to a record low below 2% and benchmark 10-year notes dropped to a three-year trough on Thursday amid persistent worries about global trade tensions and economic slowdowns around the world.
Crude oil prices rose more than 2% on Friday, recovering from two days of declines after data showing a rise in U.S. retail sales helped to ease concerns about a recession in the world’s biggest economy.
President Donald Trump’s decision to slap 10% tariffs on imported surfboards convinced surf executive Sue Bowers to move factory jobs out of China – but not back to the United States, which was one goal of Trump’s tariffs.
Hong Kong’s political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned $15 billion listing in the city, with sources saying China’s biggest e-commerce company is now considering several timetables.
World stocks rose on Friday as expectations grew of further stimulus by central banks, offsetting worries about slowing economic growth, which intensified this week as the U.S. yield curve inverted for the first time since 2007.
When Chinese venture capital firm New Vision Capital invested in two startups focusing on cloud computing and micro-optics, the plan was to eventually take them public on the Nasdaq exchange.
Ireland’s data privacy regulator is close to concluding its first probe into a multinational company under the EU’s new privacy laws, likely to involve Facebook’s WhatsApp subsidiary, although a formal decision could take months.
Asian shares found some footing on Friday after a turbulent week as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major central banks.
Buyout firms KKR , Blackstone and CVC are among bidders competing for a stake in the hospital unit of Philippines’ Metro Pacific Investments Corp , people with knowledge of the matter told Reuters.
A year and a half ago, Chongqing Iron and Steel Corp (CISC) , China’s oldest steelmaker, was rescued from the brink of bankruptcy in a deal hailed as a shining example of how struggling state companies can be revamped.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
