Financial News · Live Terminal

Page 117 of 121

South Korean Imports Soar in March on Iran War Cost Pressures

South Korea's import prices jumped 16.1% month on month in March, according to preliminary data from the Bank of Korea released on Wednesday.The surge is the biggest on a month-on-month basis in nearly three decades due to cost pressures stemming from the war in Iran, Bloomberg reported separately the same day.On a yearly basis, imports jumped 18.4%, led by raw materials exports, which surged 40% year over year.Export prices increased 16.3% on a monthly basis, according to the central bank. The rise shows broad inflationary pressure across trade flows, according to the news outlet.The increases in both indicators also reflect a rise in crude costs coupled with a weaker won, according to Bloomberg.Exports surged 28.7% year over year, led by a 28.7% yearly increase in manufacturing goods, the central bank said in its release."The outlook for consumer inflation will likely be influenced by a combination of factors, including how the conflict in the Middle East unfolds, and the effectiveness of the government's price stabilization measures," Bloomberg quoted BOK Price Statistics Chief Lee Moon-hee as saying.South Korea's growth outlook is seen to rise 1.9% in 2026, while inflation is seen to accelerate to 2.5% this year from a previous forecast of 1.8%, according to the International Monetary Fund's World Economic Outlook.The forecast follows the central bank's siren on an increase in price pressures, with inflation exceeding a 2.2% forecast for 2026, Bloomberg said, citing Governor Rhee Chang Yong.The net barter terms of trade index gained 22.8% year over year in US dollar terms.

^KOSDAQKOSPI

US Markets159d ago

India Wholesale Prices Rise in March on Fuel Costs

Jarred by fuel bills, India's wholesale price index (WPI) rose 3.88% on year in March, accelerating from a 2.13% on-year rise in February, reported the Ministry of Commerce and Industry (MCI) on Wednesday.India's WPI rose 1.64% in March from February, added the MCI.Global petroleum and gas prices surged following the effective closure to shipping of the Strait of Hormuz in early March, through which about 20% of world fossil fuels supplies are transited.With supplies scarce, India's crude petroleum WPI rose 49.10% in March from February and 51.57% on year, according to the MCI.The WPI is distinct from the consumer price index (CPI), that measures prices in retail locations, faced by ordinary shoppers. The WPI provides insight into cost pressures within the supply chain and production sectors, and is considered one precursor to subsequent changes in the CPI.In March, India's Wholesale Food Index rose 1.85% on year, while the manufactured products WPI rose 3.39% on year, reported the MCI.No doubt, the price pressures stemming from Persian Gulf turmoils will be watched by the Reserve Bank of India (RBI), the nation's central bank.The RBI has an annual target-rate of inflation band of 4%, plus or minus 2%, on the nation's CPI.India's CPI in March rose 3.40% on year, accelerating from a 3.21% on-year gain in February, the Ministry of Statistics reported on Monday.Last week, the Reserve Bank of India's (RBI) decided to keep its key policy interest rate unchanged at 5.25%, citing relatively strong economic growth but geopolitical tensions, and emergent inflationary pressures.

^BSE^NSE

US Markets159d ago

Nasdaq Extends Winning Streak to 10 Days Amid US-Iran Deal Hopes

The Nasdaq Composite extended its winning streak to a tenth consecutive session on Tuesday as oil prices tumbled amid optimism that the US and Iran could revive peace talks.The Nasdaq climbed 2% to 23,639.1. The S&P 500 rose 1.2% to 6,967.4, while the Dow Jones Industrial Average added 0.7% to 48,536.Most sectors were in the green, led by communication services' 3.2% jump, while energy saw the steepest decline.West Texas Intermediate crude oil was last down 7% at $92.12 per barrel, while Brent lost 4.2% to $95.24.The US and Iran could resume talks later this week, possibly in Pakistan, news outlets reported, citing US President Donald Trump.Trump continues to be open to resuming in-person negotiations soon if he believes Iran is ready to submit to his demands, CNN reported, citing people familiar with the matter.Over the weekend, US-Iran peace negotiations in Pakistan ended without a deal. Following that setback, the US navy started a blockade of Iranian ports in the crucial Strait of Hormuz. A two-week ceasefire between the US and Iran, however, still holds.The International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in the second quarter since the COVID-19 pandemic.The International Monetary Fund lowered its global economic growth expectations for 2026 due to the Middle East conflict, cautioning that a prolonged war could drive a further slowdown.US Treasury yields were lower, with the 10-year rate last down four basis points at 4.25% and the two-year rate dropping three basis points to 3.75%.In company news, Amazon.com (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as the e-commerce giant aims to add direct-to-device services to its Leo satellite network. Amazon shares jumped 3.8%, the top gainer on the Dow, while Globalstar jumped 9.6%.Johnson & Johnson (JNJ) lifted its full-year outlook as the healthcare products conglomerate's first-quarter results surpassed Wall Street's expectations. The company's shares rose 0.9%.JPMorgan Chase (JPM) and Citigroup's (C) first-quarter results topped the Street's expectations, while Wells Fargo's (WFC) revenue missed market views.Wells Fargo shares tumbled 5.7%, among the steepest declines on the S&P 500. JPMorgan shares fell 0.8%, while Citigroup rose 2.7%."The earnings season arrives against a backdrop where market attention has drifted away from fundamentals like earnings growth and towards geopolitical risks," Wells Fargo Investment Institute said in a report e-mailed to. "Recent volatility reflects a repricing driven by risk sentiment and geopolitics, not a deterioration in fundamentals."In economic news, US producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Iran war."A sizable increase in the PPI underscores the material effects of higher energy prices and the broader inflationary impact of a global price shock on the domestic economy," Stifel said in a note. "Such pressures are furthermore likely to intensify in the coming months as upstream costs work their way down the production pipeline."Gold was last up 2.1% at $4,869.10 per troy ounce, while silver advanced 5.3% to $79.68 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMZN$C$GSAT$JNJ$JPM$WFC

US Markets159d ago

Nearly Half of Prospective Home Sellers Optimistic About Getting Asking Price, Realtor.com Says

Nearly half of prospective home sellers are confident they can get their asking price this spring, News Corp.'s (NWS, NWSA) Realtor.com said Tuesday.A survey by the online real estate portal showed that 46% of potential sellers expect to meet buyers at their asking price. Some 37% expect to receive higher prices.More than two-thirds, or 74%, believe now is a good time to sell amid strong home values, limited inventory and stabilizing interest rates, Realtor.com said."Sellers this spring are entering the market clear-eyed," Laura Eddy, vice president of research and insights at Realtor.com, said. "They understand their home has value, and they're motivated to act, but they're also more attuned to the reality that buyers have regained some footing."The survey showed that 75% of potential sellers expect their homes to sell within four months, including 27% who are optimistic about selling within one to two months, according to the Realtor.com report. The typical home spends 57 days on market."Yet beneath that confidence lies a more nuanced picture: concession expectations are rising, and sellers' reads on market conditions vary sharply by region," Realtor.com Senior Economic Research Analyst Hannah Jones said. "The spring window is open, but the seller experience depends heavily on where a home is listed and how it's priced."Price: $28.90, Change: $+0.07, Percent Change: +0.23%

$NWS$NWSA

US Markets159d ago

IMF Lowers 2026 Global Economic Growth Outlook Amid Middle East Conflict

The International Monetary Fund lowered its global economic growth expectations for 2026 due to the Middle East conflict, cautioning that a prolonged war could drive a further slowdown.The IMF said Tuesday that it now projects real gross domestic product for the world to grow by 3.1% in 2026, down 0.2 percentage points from its previous forecast in January.Growth will slow down to 2.5% this year under an adverse scenario with more persistent increases in energy prices. That figure will drop to 2% under a worst-case scenario featuring additional damage to energy infrastructure in the Middle East.The conflict presents "a significant counterforce" to tailwinds such as technology-related investment and accommodative financial conditions, the IMF said in its latest world economic outlook report.Global GDP expectations for 2027 were kept unchanged at 3.2%.The agency raised its base-case global inflation forecasts to 4.4% and 3.7% in 2026 and 2027, respectively, from 3.8% and 3.4% previously projected.The IMF expects inflation to reach 5.4% this year in an adverse scenario and cross 6% assuming energy supply dislocations extend into next year."Downside risks dominate the outlook," the IMF said. "A longer or broader conflict, worsening geopolitical fragmentation, a reassessment of expectations surrounding artificial intelligence-driven productivity, or renewed trade tensions could significantly weaken growth and destabilize financial markets."Energy prices have shot up since the start of the US-Israel war with Iran, which resulted in the US blockade of maritime traffic entering and leaving Iranian ports. Washington and Tehran agreed to a temporary ceasefire last week, but failed to reach a deal during negotiations in Pakistan over the weekend.The US and Iran could resume talks later this week, possibly in Pakistan, media outlets reported Tuesday, citing US President Donald Trump."Fostering adaptability, maintaining credible policy frameworks, and reinforcing international cooperation are essential to navigating the current shock while preparing for future disruptions in an increasingly uncertain global environment," the IMF said.

US Markets159d ago

March Producer Price Growth Holds Steady as Energy Costs Jump

US producer prices growth steadied in March as wholesale costs of energy surged amid volatility stemming from the Iran war.The producer price index increased 0.5% on a seasonally adjusted basis, unchanged from February's tally, the Bureau of Labor Statistics reported Tuesday. A survey compiled by Bloomberg pointed to a gain of 1.1%.The March increase is attributable to a 1.6% goods advance, which was driven by an 8.5% jump in energy prices, the BLS said.Energy prices have soared in the aftermath of the US-Israel war with Iran amid supply disruptions. Washington and Tehran, which agreed to a temporary ceasefire last week, failed to reach a deal during negotiations in Pakistan over the weekend.The US and Iran could resume talks later this week, possibly in Pakistan, media outlets reported Tuesday, citing US President Donald Trump."A sizable increase in the PPI underscores the material effects of higher energy prices and the broader inflationary impact of a global price shock on the domestic economy," Stifel Chief Economist Lindsey Piegza wrote in a note. "Such pressures are furthermore likely to intensify in the coming months as upstream costs work their way down the production pipeline."Prices for final demand services remained flat month over month, after a 0.3% advance in February, BLS data showed.Annually, wholesale cost growth accelerated to 4% in March, the largest gain in 12 months, from February's 3.4% rise. The consensus was for a 4.6% increase.The PPI report follows official data released last week that showed consumer inflation accelerated to its highest monthly reading in nearly four years in March.

US Markets159d ago

Boeing First-Quarter Deliveries Rise Year Over Year, Beating Airbus

Boeing's (BA) first-quarter deliveries grew year over year and surpassed European rival Airbus' tally, while the US planemaker's orders fell annually.Boeing delivered 143 commercial jets in the March quarter, compared with 130 a year earlier. First-quarter deliveries of Airbus totaled 114, data on its website showed.Boeing said its latest quarterly deliveries included 114 737 jets.The company booked orders for 161 aircraft in the first quarter, down from 241 a year earlier.For March alone, Boeing delivered 46 commercial planes, down from 51 in February, but up from 41 a year earlier. Airbus delivered 60 jets last month.Boeing booked 33 gross orders for March, while Airbus booked 331.Boeing delivered 30 aircraft under its defense, space and security programs in the quarter, compared with 26 a year earlier.The company is scheduled to release its first-quarter results April 22.Price: $223.56, Change: $+1.42, Percent Change: +0.64%

$BA

US Markets159d ago

Citigroup Beats First-Quarter Views as Revenue Surges

Citigroup's (C) first-quarter results came in stronger than Wall Street's expectations amid double-digit gains in fixed income and investment banking revenue.Earnings rose to $3.06 a share for the March quarter from $1.96 a year earlier, exceeding the FactSet-polled consensus of $2.63. Net revenue grew 14% to $24.63 billion, ahead of the Street's $23.53 billion view."We're off to an exceptionally strong start in 2026," Chief Executive Jane Fraser said in a statement Tuesday.Citigroup shares were up 3% in afternoon trade, bringing its year-to-date gains to 11%.Markets revenue surged 19% to $7.25 billion as fixed income and equity markets jumped. Revenue within the services business climbed 17% to $6.10 billion amid double-digit increases in treasury and trade solutions and in securities services.Banking revenue jumped 15% to $1.77 billion, reflecting double-digit growth in investment banking, which offset a decline in corporate lending. Wealth revenue rose 11% to $3.07 billion, while US consumer cards grew 4% to $4.76 billion.JPMorgan Chase (JPM) reported better-than-expected first-quarter results Tuesday, while Wells Fargo's (WFC) revenue missed market views. On Monday, Goldman Sachs (GS) posted first-quarter results above market estimates.For 2026, Citigroup said it continues to expect net interest income excluding markets to grow by 5% to 6% year over year, driven by sustained fee momentum in services, banking and wealth.The company remains "very much on track" to deliver its target of 10% to 11% return on tangible common equity this year, Fraser said."We've entered into the final phase of our divestitures and 90% of our transformation programs are now at or near our target state," she said.Price: $129.79, Change: $+3.51, Percent Change: +2.78%

$C$GS$JPM$WFC

US Markets159d ago

Middle East Conflict to Drive Oil Demand Contraction This Year, IEA Says

The International Energy Agency on Tuesday forecast global oil demand to turn negative this year due to the Middle East conflict, penciling in the sharpest consumption decline in the second quarter since the COVID-19 pandemic.The agency now forecasts demand to drop by 80,000 barrels a day this year, compared with a 640,000-barrel rise predicted last month.Oil consumption is anticipated to shrink by 1.5 million barrels a day in the second quarter, representing the steepest plunge since COVID-19, the IEA said. Demand is expected to contract by 800,000 barrels per day year over year in March and by 2.3 million barrels this month, the IEA said."Initially, the deepest cuts in oil use have come in the Middle East and Asia Pacific, mainly for naphtha, LPG and jet fuel," according to the IEA report. "However, demand destruction will spread as scarcity and higher prices persist."Energy prices have soared in the aftermath of the US-Israel war with Iran that have curtailed shipments through the crucial Strait of Hormuz. While Washington and Tehran have agreed to a temporary ceasefire, the two sides were unable to reach a deal during negotiations in Pakistan over the weekend.Brent crude declined 4% to $95.40 a barrel in Tuesday trading, while West Texas Intermediate fell 6.7% to $92.42."Resuming flows through the Strait of Hormuz remains the single most important variable in easing the pressure on energy supplies, prices and the global economy," the IEA said. "The prospects for a lasting negotiated settlement to the conflict remain unclear at this stage."On Monday, the Organization of the Petroleum Exporting Countries lowered its second-quarter oil demand forecast, but maintained its full-year estimates amid expectations for a rebound in the second half.The US navy on Monday began a blockade of maritime traffic entering and exiting Iranian ports.Global oil supply plunged by 10.1 million barrels a day to 97 million barrels last month, amid Tehran's attacks on energy infrastructure in the Middle East and restrictions to tanker movements through the strait, according to the agency. In March, it forecast supply to drop by 8 million barrels for the month.Last month, the IEA agreed to release a record 400 million barrels of oil amid concerns around supply disruptions caused by the Middle East conflict.

US Markets159d ago

Wells Fargo First-Quarter Revenue Trails Views; CEO Sees Delayed Oil Price Shock Impact

Wells Fargo's (WFC) first-quarter revenue missed market expectations as Chief Executive Charlie Scharf said there will likely be a lag in the pass-through of higher oil prices.Consolidated sales increased 6% year over year to $21.45 billion, but fell short of the FactSet-polled consensus estimate of $21.79 billion. The lender posted earnings of $1.60 per share for the March quarter, up from $1.39 a year ago and ahead of Wall Street's $1.58 view.Shares of the bank were down 4.9% in Tuesday trade."While markets have been volatile, we still see continued resiliency in the underlying economy and the financial health of the consumers and businesses we serve remains strong, though the impact of higher oil prices will likely take some time to materialize," Scharf said in a statement.Energy prices have soared in the aftermath of the US-Israel war with Iran that has curtailed shipments through the Strait of Hormuz. While the US and Iran have agreed to a temporary ceasefire, the two sides were unable to reach a deal during negotiations in Pakistan over the weekend.JPMorgan Chase (JPM) and Goldman Sachs (GS) have posted first-quarter results above market estimates. Their executives flagged potential macro-level risks, including those stemming from geopolitical tensions, even though they stressed that the underlying economy remained resilient.Wells Fargo's net interest income rose 5% year over year to $12.1 billion, while noninterest income jumped 8% to $9.35 billion.Corporate and investment banking revenue increased 4% to $5.28 billion as gains in investment baking were countered by a decline in the commercial real estate business. Consumer banking and lending revenue increased 7% to $10 billion, while commercial banking added 7%.Price: $82.29, Change: $-4.36, Percent Change: -5.03%

$GS$JPM$WFC

US Markets159d ago

Amazon to Acquire Mobile Satellite Services Operator Globalstar

Amazon.com (AMZN) agreed to buy mobile satellite services operator Globalstar (GSAT) as the e-commerce giant aims to add direct-to-device services to its Leo satellite network, the companies said Tuesday.Globalstar's investors may opt to receive $90 in cash for every share owned, or 0.3210 shares of Amazon with a $90 valuation cap. Total cash elections can't exceed 40% of Globalstar's shares. The total consideration may be adjusted downward by up to $110 million if Globalstar fails to meet certain operational milestones, according to the joint statement.Globalstar had a market capitalization of $9.37 billion as of Monday, according to FactSet data. Its shares were up 9% intraday, while Amazon's rose 2.8%."By combining Globalstar's proven expertise and strong foundation with Amazon's customer-obsession and innovation, customers can expect faster, more reliable service in more places," Panos Panay, senior vice president of devices and services at Amazon, said.Upon completion, Amazon Leo will be able to provide D2D services via its low Earth orbit satellite network and extend cellular coverage beyond the reach of terrestrial networks, the companies said. The plan is to deploy Amazon Leo's own D2D satellite system beginning in 2028."(Amazon) is effectively solving its (Federal Communications Commission) deadline problem by acquiring a functioning satellite operator while also leapfrogging into D2D connectivity, a market SpaceX's Starlink has been targeting," Wedbush Securities analyst Michael Piccolo said in a note e-mailed to.SpaceX is a private company owned by Elon Musk, CEO of Tesla (TSLA).The transaction, which requires regulatory approvals, is anticipated to complete in 2027."The combination with Amazon Leo will advance innovations in digital connectivity that will benefit our customers and advance us toward a more intelligent, continuously connected world," Globalstar Chief Executive Paul Jacobs said.Amazon said that it agreed to provide satellite connectivity for Apple's (AAPL) current and future iPhone and its smartwatch features. Currently, Globalstar provides satellite service that powers iPhone 14 or newer models, as well as Apple Watch Ultra 3."Apple and Amazon have a long and proven track record of working together through Amazon's core infrastructure services, and we look forward to building on that collaboration with Amazon Leo," Greg Joswiak, senior vice president of worldwide product marketing at Apple, said.Price: $246.78, Change: $+6.89, Percent Change: +2.87%

$AAPL$AMZN$GSAT$TSLA

US Markets159d ago

Johnson & Johnson Raises 2026 Outlook Following First-Quarter Beat

Johnson & Johnson (JNJ) lifted its full-year outlook on Tuesday as the healthcare products conglomerate's first-quarter results surpassed Wall Street's expectations.The company now anticipates adjusted earnings of $11.45 to $11.65 per share for 2026, up from its previous projections of $11.43 to $11.63. Sales are set to come in between $100.3 billion and $101.3 billion, compared with the prior guidance of $100 billion to $101 billion.The consensus on FactSet is for non-GAAP EPS of $11.56 and sales of $100.63 billion for the current year."Johnson & Johnson had a strong start to 2026 and is delivering on its promise for a year of accelerated growth and impact," Chief Executive Joaquin Duato said in a statement.Shares of the company edged up 0.5% in Tuesday trade, taking its year-to-date gain to 15.5%.For the first quarter, Johnson & Johnson's adjusted EPS declined to $2.70 from $2.77 last year, but came in ahead of the Street's view for $2.68. Sales improved 9.9% to $24.06 billion, surpassing the average analyst estimate of $23.61 billion.Innovative medicine sales climbed 11% to $15.43 billion. Operational revenue moved 7.4% higher, driven by, among others, the group's oncology products, including blood cancer therapy Darzalex, as well as immunology product Tremfya.Medtech revenue advanced 7.7% to $8.64 billion, buoyed by the firm's electrophysiology products, Abiomed, Shockwave in the cardiovascular portfolio and trauma in orthopaedics, it said.Revenue in the US increased to $13.33 billion from $12.31 billion in the 2025 quarter, while international sales gained 12% to $10.73 billion.Price: $239.20, Change: $+1.37, Percent Change: +0.58%

$JNJ

US Markets159d ago

JPMorgan Beats First-Quarter Estimates; CEO Dimon Warns of 'Increasingly Complex' Risks to Economy

JPMorgan Chase (JPM) reported better-than-expected first-quarter results on Tuesday, while Chief Executive Jamie Dimon said the US economy remained resilient but warned of an "increasingly complex set of risks," including wars and energy price volatility.The banking giant posted earnings of $5.94 a share for the quarter ended March, up from $5.07 the year before, topping the FactSet-polled consensus of $5.45. Consolidated revenue advanced 10% to $49.84 billion, ahead of the Street's view for $49.13 billion.Net interest income inclined 9% on a managed basis to $25.48 billion. Noninterest revenue rose 11% both on reported and managed bases to $24.47 billion and $25.06 billion, respectively."The firm delivered strong results in the first quarter," Dimon said in the earnings release. "Performance was strong across our businesses."Dimon noted that the world's largest economy "remained resilient" in the quarter, "with consumers still earning and spending and businesses still healthy." The resiliency was supported by several tailwinds, including fiscal stimulus and artificial intelligence-driven capital investment, according to the CEO."At the same time, there is an increasingly complex set of risks - such as geopolitical tensions and wars, energy price volatility, trade uncertainty, large global fiscal deficits and elevated asset prices," Dimon added. "While we cannot predict how these risks and uncertainties will ultimately play out, they are significant and they reinforce why we prepare the Firm for a wide range of environments."Energy prices have soared in the aftermath of the US-Israel war with Iran that began at the end of February, curtailing shipments through the crucial Strait of Hormuz. While the US and Iran have agreed to a temporary ceasefire, the two sides were unable to reach a deal during negotiations in Pakistan over the weekend.Earlier in April, Dimon said in a shareholder letter that supply disruptions caused by the Iran war could keep inflation and interest rates higher than expected.Revenue in JPMorgan's commercial and investment banking segment climbed to $23.38 billion from $19.67 billion in the prior-year period. Investment banking fees jumped 28%, buoyed by stronger advisory and equity capital markets activity, according to Dimon. "Payments continued to deliver very strong results, with double digit growth in deposits and fees," the CEO said in the earnings release.Consumer and community banking revenue advanced 7% to $19.57 billion in the quarter, amid gains in banking and wealth management and card services and auto. Corporate revenue dropped 47% to $1.22 billion, while asset and wealth management sales grew 11% to $6.37 billion.Assets under management gained 16% to $4.8 trillion, boosted by higher market levels and continued net inflows, JPMorgan said. The bank's provision for credit losses declined to $2.51 billion from $3.31 billion in the 2025 quarter, including net charge-offs of $2.3 billion.The lender expects net interest income of about $103 billion for full-year 2026, according to an earnings presentation.

$JPM

US Markets160d ago

Stocks Rise Pre-Bell Amid Hopes of Renewed US-Iran Peace Talks; Big Bank Earnings, PPI Data on Deck

US equity futures were trending higher on Tuesday amid media reports that the US and Iran may revive their peace talks, while investors await the latest financial results of some of Wall Street's largest banks and data on wholesale prices.The S&P 500 rose 0.2%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.4% in premarket activity. The indexes finished the previous trading session higher, with the Nasdaq recording gains for the ninth consecutive day.The US and Iran are considering holding another round of negotiations before their current two-week ceasefire expires next week, Bloomberg News reported Tuesday, citing people familiar with the matter.President Donald Trump reportedly said Monday that "the right people" have reached out to Washington "and they want to work a deal." Delegations from the US and Iran were unable to reach a deal during negotiations in Pakistan over the weekend.In an interview with Fox News, Vice President JD Vance said it was up to Iran to make the next move on peace talks with the US, according to CNBC. "Whether we have further conversations, whether we ultimately get to a deal, I really think the ball is in the Iranian court, because we put a lot on the table," Vance reportedly said.The US navy on Monday started a blockade of Iranian ports in the crucial Strait of Hormuz.West Texas Intermediate crude oil declined 2.6% to $96.53 a barrel before the opening bell, while Brent decreased 1.2% to $91.88.The International Energy Agency said Tuesday it expects oil demand to fall by 80,000 barrels per day this year as the Middle East war "upends" its global outlook. "Demand destruction will spread as scarcity and higher prices persist," the IEA said.On Monday, the Organization of the Petroleum Exporting Countries lowered its second-quarter oil demand forecast due to the Middle East conflict, but maintained its full-year estimates amid expectations for a rebound in the second half.JPMorgan Chase (JPM), Wells Fargo (WFC) and Citigroup (C) are some of the banking giants scheduled to report their latest quarterly earnings before the bell, along with Johnson & Johnson (JNJ), BlackRock (BLK) and Albertsons (ACI).Goldman Sachs (GS) posted first-quarter results above market estimates on Monday, while Chief Executive David Solomon said a protracted Middle East conflict could pose upside risks to inflation. Bank of America (BAC) and Morgan Stanley (MS) post their results on Wednesday.Last month's producer price index, a measure of wholesale prices, is slated to be released at 8:30 am ET. Last week, government data showed that consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher.Treasury yields were down in premarket action, with the two-year rate retreating 1.9 basis points to 3.76% and the 10-year rate off 1.6 basis points to 4.28%.Federal Reserve Governor Michael Barr is set to speak at 12:45 pm, while Chicago Fed President Austan Goolsbee speaks earlier at 12:15 pm.Shares of Oracle (ORCL) added 4.2% pre-bell after closing the previous trading session up 13% as the company said it introduced artificial intelligence-focused updates to its utilities software suite. Avanos Medical (AVNS) surged 68% after the firm agreed to be acquired by American Industrial Partners affiliates in a deal worth $1.27 billion.Gold inclined 0.8% to $4,804 per troy ounce pre-bell, while bitcoin advanced 2% to $74,609.

Dow JonesNasdaq CompositeS&P 500$ACI$AVNS$BAC$BLK$C$GS$JNJ$JPM$MS$ORCL$WFC

US Markets160d ago

China's Balance of Trade Plunges in March Despite Import Surge

China's balance of trade saw a surplus of $51.13 billion in March, according to data from Customs released Tuesday.The figure was weaker compared with a $213.62 billion surplus in February and missed analsyts' estimates of $107.5 billion during the month, according to a report by Investing.com.In local currency terms, the balance of trade plunged 4.8% year over year, analysts from ING said in a note Tuesday.The plunge in local currency terms could also impact China's GDP data, due for release Thursday, ING said.Exports jumped 2.5% year over year to $321 billion during the month, Customs said. The growth rate missed a forecast of 8.3%, according to Investing.com. It is also slower compared with the 21.8% surge in the January-February period.Exports destined for the U.S. fell 14.6% year over year, but is expected to ease in the coming months, analysts from ING said."With the drag from the US expected to ease-assuming no new tariff shocks, which cannot be fully ruled out-external demand should remain an important driver of growth this year," ING said.Imports soared 27.8% year over year to $269.9 billion during the month, exceeding expectations, and up from a 19.8% rise seen in the January-February period, according to multiple media reports.The surge is attributable to higher technology product prices, which led to "stunning export growth" across the rest of Asia-Pacific, ING analysts said.Chinese semiconductor imports jumped 11% year on year year-to-date by volume and 45% year-to-date by value, according to the analysts.The figure has not taken into account the impact of the Iran war, as crude oil imports increased 8.9% year on year, year-to-date in volume terms but were down 4.7% year to date in value terms, ING said.Higher energy prices could accelerate imports further in the coming months, the bank said.The balance of trade for the quarter reached $264.3 billion.

Shanghai Composite^SZSE

US Markets160d ago

Singapore's Economic Growth Weakens in Q1

Singapore's economy slowed down in the first quarter, largely missing expectations.The gross domestic product grew by 4.6% year on year, lower than the previous quarter's 5.7% increase, according to the Ministry of Trade and Industry on Tuesday.The GDP is way below the 5.9% rise forecasted by economists surveyed by Reuters.On a quarter-on-quarter basis, the GDP shrank by 0.3%, swinging from the 1.3% growth in the fourth quarter of 2025.The MTI said Singapore's economy stayed resilient during the period, but the impact of the Middle East conflict is expected to reflect in the coming quarters.Among sectors, the manufacturing sector climbed 5% year on year during the quarter, weaker than the 11.4% jump in the prior quarter.The construction sector expanded by 9% from a year earlier, higher than the 4.6% rise in the fourth quarter of 2025.As for services sectors, wholesale and retail trade, and transportation and storage collectively rose by 6.7% year on year, an extension from the 6.8% acceleration in the preceding quarter. Information and communications, finance and insurance, and professional services sectors grew 3.9% year on year, higher than the previous quarter's 3.7% growth. Meanwhile, other services, including accommodation and food services, real estate, administrative and support services, rose 2.3% from a year earlier, easing from the 2.9% climb in the previous quarter.Despite the risks of the war in Iran, the Monetary Authority of Singapore kept its GDP growth outlook of between 2% and 4%. The MAS moderately tightened its monetary policy, raising the rate of the Singapore dollar nominal effective exchange rate policy band amid the global oil price hikes and the threat of higher inflation, which is expected to rise to a range of 1.5% and 2.5% from the previous forecast of 1% and 2%.Deepali Bhargava, ING's regional head of research for Asia-Pacific, said it is likely that the pressures related to the rise of oil prices can be offset by demand for artificial intelligence technology, as well as recent fiscal measures."Taken together, these factors underpin our GDP growth forecast of 3.3% year on year, which lies on the stronger side of the MAS's projected range and closer to the upper end of its midpoint," Bhargava said.

^STI

US Markets160d ago

Imperial Brands Shares Fall Amid Middle East Conflict Uncertainty; Fiscal 2026 Outlook Reaffirmed

Imperial Brands (IMB.L) reaffirmed its fiscal 2026 guidance but warned that the uncertainty caused by the ongoing conflict in the Middle East could have an impact on its business in the second half, sending its shares down 7% in Tuesday midday trade.In a same-day trading update, the UK-based tobacco group said it still expects to deliver low-single-digit net revenue growth in tobacco and double-digit growth in next generation products, or NGP, for the full fiscal year. Also reaffirmed were the group adjusted operating profit growth forecast of between 3% and 5% and the projected EPS growth of at least a high-single-digit percentage, all on a constant currency basis."The conflict in the Middle East has resulted in a more uncertain geopolitical and macro environment. Whilst there has been no material business impact to date, the potential future impact during the second half remains uncertain," the company said. "We continue to monitor the situation and will give a further update with our H1 results announcement on 12 May."For the six months ended March 31, Imperial Brands anticipates low-single-digit growth in tobacco and NGP net revenue, supported by robust tobacco pricing and continued momentum in heated tobacco, vape and modern oral products.Group adjusted operating profit for the fiscal first half is projected to come in "slightly" higher year over year, at constant currency, with growth anticipated to accelerate in the latter half, in line with previous guidance.Meanwhile, headwinds related to foreign exchange translation is currently forecast to be between 2% and 2.5% on EPS for the fiscal first half and 0.1% on full-year EPS.Analysts at RBC Capital Markets adopted a negative sentiment on Imperial Brands, noting that the company expects a "modest" decline in market share across its five priority markets during the fiscal first half."This contrasts with flat market share in FY2025 and +48bps over the last five years. We regard this latter point as having been fundamental to Imperial's rehabilitation, and therefore are [nervous] about the loss of share in the latest six months. The statement gives no indication of the likely market share trend in 2H," the research firm said.

$IMB.L

US Markets160d ago

Intertek Group Soars After Strong First-Quarter Results, Launches Review of Potential Business Split

Intertek Group (ITRK.L) shares climbed over 12% higher on Tuesday, buoyed by robust first-quarter trading results and the announcement of a strategic review aimed at potentially separating its energy infrastructure and testing divisions.The British assurance, testing, and certification company is evaluating the potential separation of its Intertek Energy & Infrastructure and Intertek Testing & Assurance. The review aims to determine if separate, specialist entities would drive faster market execution and better long-term shareholder returns.The move, which will be implemented by mid-2027 through either a sale or demerger, is intended to help accelerate the businesses' growth in a "highly attractive and growing" quality assurance sector.RBC Capital Markets held a positive sentiment over the "leftfield" strategic review, as it noted that buyers are "likely to tread carefully" amid a challenging geopolitical landscape."A demerger runs the risk of cost duplications and less liquid entities with a smaller investor audience, but we think many investors will view the prospects for sustained independence as limited given the appetite for consolidation by the biggest global players," RBC said in a quick-take report, adding that investor focus is likely to shift quickly to potential acquirers and whether standalone units could command higher valuation multiples.Intertek also reported an increase in group revenue for the three months ended March 31 at 838.5 million pounds sterling, up 3.7% at actual rates and 6.7% at constant currency. The company's like-for-like revenue came in at 828.3 million pounds, 2.4% higher year-on-year at actual rates and 5.4% at constant exchange rates.Chief Executive Officer André Lacroix said the group made a "strong start" to 2026, driven by Consumer Products, double-digit growth in risk-based assurance within Corporate Assurance, and solid demand across Health and Safety and Industry and Infrastructure. "Operating cash flow and free cash flow were strong which, combined with our strong balance sheet, enables us to continue to invest to seize the exciting growth opportunities ahead," he added.Within this context, Intertek affirmed its full-year 2026 outlook, saying it is "on track" to deliver mid-single digit like-for-like revenue growth on a constant currency basis, sustained margin expansion, and "strong" earnings growth and free cash flow.

$ITRK.L

US Markets160d ago

FedEx Finance Chief to Step Down Upon Freight Operations Spinoff

FedEx (FDX) said its finance chief will step down in early June as the parcel delivery giant completes the spinoff of its freight business into a new publicly listed company.John Dietrich will leave his role as chief financial officer on June 1 and remain with the company until July 31, it said late Monday. Claude Russ, enterprise vice president of finance at FedEx, will serve as interim CFO while the company conducts an internal and external search for a permanent successor to Dietrich.Shares of FedEx edged down 0.6% in Tuesday's most recent premarket activity. The stock has gained 29% so far this year."I want to thank John for his many contributions to the FedEx leadership team over the last several years as we successfully navigated a significant company transformation and delivered on the upcoming spin of our freight business," Chief Executive Raj Subramaniam said in a statement. "As we begin the search for John's successor, I am confident that Claude's wealth of experience will ensure seamless continuity and commitment to advancing our strategy."The separation of FedEx's freight division is expected to complete on June 1.FedEx also reiterated its fiscal 2026 outlook issued in March. At the time, the company expected adjusted earnings to be in a range of $19.30 to $20.10 per share on revenue growth of 6% to 6.5%. The current consensus on FactSet is for non-GAAP EPS of $19.77 and sales of $93.56 billion.The company reaffirmed its targets for 2029 shared at its investor day in February, which included a compound annual growth rate for revenue of 4%.

$FDX

US Markets160d ago

Australian Consumer Confidence Declines in April on War Outlook

Australia's consumer confidence levels "crashed" in March, marking the largest monthly decline since the COVID-19 era and striking low levels not seen since 2023, reported the Westpac-Melbourne Institute on Tuesday.The Westpac-Melbourne Institute Consumer Sentiment Index fell to 80.1 in April from 91.6 in March, as consumers faced fuel bills and higher interest rates, said the Institute.In April, the "spike in fuel prices following the US-Israel war on Iran and a further 25 basis point interest-rate increase (by the Reserve Bank of Australia) are again putting finances under intense pressure," advised the Institute.Readings above 100 on the Australian consumer index point to optimism, while below that level suggest pessimism.In April, Australian fears of job loss rose to a near six-year high, while consumers became much less bullish on the house-price outlook as well, according to the monthly Institute survey.After generally rising since 2022, the Australian consumer sentiment index is back near historical lows, "albeit above the extremes seen at the onset of the (COVID-19) pandemic and during the recessions of the early 1990s and 1980s," said the Westpac-Melbourne Institute.The "time to buy a major household item" sub-index in April fell to 83.3 from 98 in March, another sign of waning consumer confidence.Household outlooks in April also soured. "Near-term expectations for the economy and family finances also deteriorated sharply, suggesting consumers see little prospect for improvement and are bracing for more difficulties," reported the Institute.The Westpac-Melbourne Institute Consumer Sentiment survey polls about 1,200 Australian adult consumers (or households), each month.

ASX 200

Showing 2321-2340 of 2408

US Markets160d ago

Stocks Rise Pre-Bell Amid Hopes of Renewed US-Iran Peace Talks; Big Bank Earnings, PPI Data on Deck

Dow JonesNasdaq CompositeS&P 500$ACI$AVNS$BAC$BLK$C$GS$JNJ$JPM$MS$ORCL$WFC