Aug 3 (Reuters) – The U.S. Treasury said on Monday it expects to borrow $739 billion in the third quarter, $68 billion more than it projected in May, as lower projected cash flows were only partly offset by a higher-than-assumed starting cash balance. Stripping out the benefit of that larger starting cushion, the increase in…
We are still in the early innings of the earnings season, with roughly a third of S&P 500 companies having returned their second quarter scorecards. And, it’s shaping up to be yet another bumper earnings season: according to FactSet data, 86% of those companies have exceeded Wall Street’s earnings projections while 80% have beaten revenue…
Aug 3 (Reuters) – Respondents to a Federal Reserve banking survey reported “basically unchanged” lending standards for commercial and industrial loans during roughly the second quarter, with stronger demand for that type of loan coming from large and middle market firms. “For loans to households, banks reported mixed changes in lending standards and weaker demand…
Beware the ides of August, which on Wall Street describes the poor performance traders tend to expect for the month. The historic data shows this saying may be overselling seasonal weakness while the first day of August trading is off and running. Monday kicked off August in the green. The Dow Jones Industrial Average opened…
William V. Selesky Senior Analyst: Basic Materials Bill covers the Basic Materials sector for Argus. He has worked in the investment business for over 15 years, including positions as a senior equity analyst for firms such as Palisade Capital Management, PaineWebber/Mitchell Hutchins Asset Management and John Hsu Capital Group. He has provided coverage on groups…
William V. Selesky Senior Analyst: Basic Materials Bill covers the Basic Materials sector for Argus. He has worked in the investment business for over 15 years, including positions as a senior equity analyst for firms such as Palisade Capital Management, PaineWebber/Mitchell Hutchins Asset Management and John Hsu Capital Group. He has provided coverage on groups…
Spanish regions are pursuing Chinese battery and car investment as officials push for common European Union (EU) foreign investment rules ahead of talks with Beijing on trade arrangements. Reuters reported that Spanish officials want faster approval of a “Made in Europe” law. The proposal would require local content and employment conditions, technology transfer, and limits…
By Kamal Choudhury and Kunal Das Aug 3 (Reuters) – Radiopharmaceutical company Curium has agreed to buy peer Lantheus Holdings in a deal worth up to $8 billion, as the private equity-backed firm looks to expand its footprint in the fast-growing sector. Radiopharmaceuticals, which use radioactive compounds to diagnose and treat diseases such as cancer,…
The U.S. is stepping in to help boost Japan’s yen for the first time in nearly three decades after the currency hit a 40-year low, but the intervention has an unusual feature: instead of selling dollars to buy yen, the New York Fed reportedly sold euros to fund the purchase. The coordinated move on Friday…
The S&P 500 Index ($SPX) (SPY) today is up +1.18%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +1.081%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.40%. September E-mini S&P futures (ESU26) are up +1.11%, and September E-mini Nasdaq futures (NQU26) are up +1.33%. Stock indices are moving higher today, with the S&P 500 posting a…
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