BREAKING: Oil prices pare gains as US crude stockpiles fell by 7.1 million barrels, fuel stocks rise
Benchmark Brent crude oil was down 29 cents a barrel at $56.17 by 11:34 a.m. ET (1634 GMT), off a session peak of $57.35. U.S. light crude oil was down 31 cents a barrel at $52.95, after rising to $54.12 at the high of the day. U.S. gasoline prices were down nearly 1.8 percent after the data were released. Oil prices earlier rose on Thursday after reports Saudi Arabia had started talks with customers about a reduction of up to 7 percent in crude sales in February to support an attempt ..>> view originalUS Indexes Drift in Early Trade; Department Stores Nosedive
NEW YORK รข€” Department stores dominated the news Thursday morning as Macy's and Kohl's both plunged following weak holiday-season reports that led the chains to cut their profit forecasts. Macy's also said it will eliminate 10,000 jobs as it continues to close stores. Sears jumped after it said it will close 150 stores and sell its Craftsman tool brand. Overall, stocks were only slightly lower as gains for energy and technology companies limited the losses.KEEPING SCORE: The Dow Jones industr..>> view originalFutures flat day after Fed flags inflation risk
Traders work on the floor of the NYSE Thomson Reuters By Yashaswini Swamynathan (Reuters) - U.S. stock index futures were flat on Thursday, a day after Federal Reserve minutes showed policymakers thought President-elect Donald Trump's pro-growth policies could prompt faster interest rate hikes. Almost every Fed policymaker said Trump's promises of tax cuts, infrastructure spending and deregulation could stoke higher inflation, according to minutes of the Fed's Dec. ..>> view originalUS Jobless Claims Fell Sharply in 2016's Final Week
WASHINGTON—The number of Americans who applied for first-time unemployment checks fell sharply last week to one of the lowest levels in four decades, bolstering the Federal Reserve’s view that the labor market is tightening. Initial jobless claims, a measure of how many workers were laid off, declined 28,000 to a seasonally adjusted 235,000 in...>> view originalBarnes & Noble Cuts Its Forecast Amid Holiday Sales Decline
Barnes & Noble Inc. said Thursday that comparable-store sales fell during the important holiday selling period, leading the retailer to cut its outlook for the fiscal year. Comparable-store sales decreased 9.1% for the nine-week holiday period ending Dec. 31, as online sales grew about 2%. Barnes & Noble blamed lower traffic,...>> view originalJet-Buying Binge Nears End as Boeing, Airbus Brace for Slowdown
The unprecedented jetliner shopping spree that’s spanned more than a decade is drawing to a close. That’s bad news for Boeing Co. and Airbus Group SE, which face slowing jet sales and the highest level of airplane-delivery deferrals in at least 15 years. Final 2016 tallies to be unveiled over the next few days will probably show aircraft orders trailing shipments, a sign of a weakening market. Airline profits are poised to fall from last year’s peak, with even Persian Gulf juggernauts Emirates ..>> view originalSears Sells Craftsman Brand, to Close 150 Stores
Sears Holdings Corp. said it would close another 150 stores and sell its Craftsman tool brand for $900 million, as the cash-strapped retailer continues to shrink and battle slumping sales. Sears is flipping the Craftsman brand to Stanley Black & Decker Inc., and it will license back the ability to sell Craftsman-branded products royalty-free for 15 years after the deal’s closing. The acquisition gives Stanley the rights to...>> view original
Tuesday, January 17, 2017
BREAKING: Oil prices pare gains as US crude stockpiles fell by 7.1 million barrels, fuel stocks rise and other top stories.
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