Oil prices were mixed on Tuesday as concerns about global crude oil demand and uncertainty over the latest round of U.S.-China trade talks countered investor optimism around tightening supplies.
Ford Motor Co said on Tuesday it would exit its heavy commercial truck business in South America in a plant closing that could cost more than 2,700 jobs, part of a global restructuring meant to end losses in different regions.
Gold prices rose to a 10-month high on Tuesday as concerns over a global economic slowdown spurred a safe-haven bid and were also supported by a weaker U.S. dollar, which fell on optimism for a breakthrough in U.S.-China trade talks.
U.S. President Donald Trump said on Tuesday that trade talks with China were going well and suggested he was open to pushing off the deadline to complete negotiations, saying March 1 was not a “magical” date.
U.S. stocks gained modestly on Tuesday as upbeat results from Walmart boosted investor sentiment and high-level U.S.-China trade talks resumed.
A joint venture of Honeywell International Inc and Pratt & Whitney on Tuesday protested the U.S. Army’s decision to award General Electric Co a $517 million contract for new Black Hawk and Apache helicopter engines.
The United States and McKinsey & Company have reached a $15 million settlement over allegations that the global consulting company did not make proper disclosures in bankruptcy cases, the U.S. Department of Justice said in a statement on Tuesday.
Ford Motor Co on Tuesday said it would exit its heavy commercial truck business in South America and cease production at a Brazilian plant this year as a result.
A joint venture of Honeywell International Inc and Pratt & Whitney on Tuesday protested the U.S. Army’s decision to award General Electric Co a contract for new Black Hawk and Apache helicopter engines.
Billionaire hedge fund manager David Tepper stepped up pressure on Allergan Plc, saying on Tuesday the drugmaker should consider selling itself if management is unable to turn around recent lagging performance.
Walmart Inc posted its strongest holiday quarter in at least a decade on Tuesday, boosted by higher grocery and e-commerce sales, and said it saw no signs of weakness in U.S. consumer spending despite recent signs of a slowdown.
The United States is seeking to secure a pledge from China it will not devalue its yuan as part of an agreement intended to end the countries’ trade war, Bloomberg reported on Monday.
U.S. stocks inched higher on Tuesday, led by Amazon and upbeat earnings from Walmart, while investors focused on the latest round of trade talks between the United States and China.
Walmart Inc said on Tuesday it sees no signs of weakness in U.S. consumer spending and posted its strongest holiday-quarter sales growth in a decade, citing robust grocery and e-commerce sales and assuaging concerns about a looming U.S. recession.
Oil steadied on Tuesday after hitting 2019 highs as concerns about global crude oil demand, coupled with uncertainty over the latest round of U.S.-China trade talks, countered investor optimism around tightening supplies.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
