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MarketWatch
U.S. oil futures settle higher as OPEC+ agrees to a 2 million-barrel output cut
Oil futures finished higher on Wednesday, with U.S. prices marking another settlement at their highest settlement since mid-September. Prices found support from a 2 million-barrel production cut by the Organization of the Petroleum Exporting Countries and their allies, as well as weekly declines in U.S. crude, gasoline and distillate supplies reported by the Energy Information Administration. The cut “compensates the lack of oil demand growth from China during 2022,” said Rob Thummel, portfolio
TipRanks
Crispin Odey Scored a Whopping 193% Return This Year; Here Are 2 Stocks That the Hedge Fund Tycoon Likes
Most people might not want to glance too often at their stock portfolio in 2022, but not everyone has had a rough year. Making good use of the UK market unrest, Crispin Odey’s hedge fund has had a great one. In fact, with returns of a hefty 193% year-to-date, it has been a record year for the fund. How did the hedge fund tycoon do it? To a large extent, by going short against UK bonds and the British pound, a wise moving considering the pound plummeted even further in September after new Prime M
SmartAsset
Aiming to Sell Your House and Buy a Retirement Home? Here Are 3 Options
Housing wealth is a major financial asset for homeowners heading into retirement, but if you’re planning to cash in by selling a larger home to downsize in retirement you may need to think again. Rising interest rates and declining home values amid … Continue reading → The post Aiming to Sell Your House and Buy a Retirement Home? Here Are 3 Options appeared first on SmartAsset Blog.
Reuters
Biden hails IBM’s $20 billion New York manufacturing deal
POUGHKEEPSIE, N.Y. (Reuters) -President Joe Biden on Thursday championed his administration’s push to subsidize U.S. semiconductor chip manufacturing and boost blue-collar jobs at a visit to an IBM Corp facility in New York. IBM plans to invest $20 billion in New York’s Hudson Valley region, once a manufacturing powerhouse, over the next decade to make and develop semiconductors, mainframe technology, artificial intelligence and quantum computing. “Where is it written that we can’t lead manufacturing in the world?” Biden said.
Reuters
EU wants to know if Microsoft will block rivals after Activision deal
EU antitrust regulators are asking games developers whether Microsoft will be incentivised to block rivals’ access to “Call of Duty” maker Activision Blizzard’s best-selling games, according to an EU document seen by Reuters. EU antitrust regulators are due to make a preliminary decision by Nov. 8 on whether to clear Microsoft’s proposed $69 billion acquisition of Activision. The EU competition enforcer also asked if Activision’s trove of user data would give the U.S. software giant a competitive advantage in the development, publishing and distribution of computer and console games, the EU document shows.
Bloomberg
Oil Poised for Biggest Weekly Rally Since March on OPEC+ Move
(Bloomberg) — Oil headed for the biggest weekly gain since early March as OPEC+ put the market on course for further tightening ahead of winter.Most Read from BloombergBiden Says Putin Threats Real, Could Spark Nuclear ‘Armageddon’Kremlin Lets State Media Tell Some Truths About Putin’s Stalling WarMusk’s Twitter Takeover Hits Snag Over Debt-Financing IssueNord Stream Leaks Caused by Detonations in Sign of SabotageTrump Says US Agency Packed Top-Secret Documents. These Emails Suggest Otherwise.W
CoinDesk
US Jobs Growth Slows Less Than Expected; Bitcoin Slips From $20K
The monthly employment situation report, released by the Labor Department, has become one of the most important economic indicators to watch as the Federal Reserve evaluates the state of the economy.
TheStreet.com
Enphase Energy Arrives at a Crossroads
Enphase Energy ENPH is an energy technology company that develops and manufactures solar micro-inverters, battery energy storage, and electric vehicle (EV) charging stations primarily for residential customers. In the daily Japanese candlestick chart of ENPH, below, we see a weak picture.
TipRanks
‘Take Opportunities on Days Like Today’: Mary Callahan Erdoes Says Now Could Be the Best Time to Invest. Here Are 3 Stocks to Consider
Investors are facing a storm of headwinds right now – a genuine bear market, stubbornly high inflation, rising interest rates, and increased fears of a recession in the near-term. However, Mary Callahan Erdoes, CEO of JPMorgan’s Asset & Wealth Management division, advises investors to stay invested. “It’s actually the easiest time in the world to find alpha — there is alpha everywhere… It’s everywhere, because we are in such a state of change… While all the world is focused on all the black
Benzinga
Can These REITs Keep Paying 9% Dividend Yields?
With inflation recently soaring over 8%, many income investors would love to acquire dividend stocks that pay out more than 9% annually. But are high-yielding real estate investment trusts (REITs) also good stocks to own? Many are sharply off their 52-week highs. Are dividend cuts in their future? Here are three monthly dividend-paying REITs with over 9% yields to consider: Medical Properties Trust Inc. (NYSE: MPW) is a Birmingham, Alabama-based healthcare REIT that owns and operates 438 propert
Reuters
Wall Street cranks up Exxon’s outlook on booming natgas prices
Wall Street analysts on Wednesday sharply increased their view of Exxon Mobil Corp’s third quarter earnings after the company disclosed a $2 billion profit gain from selling natural gas. The earnings revisions follow a securities filing that offered a snapshot of operating profits. Exxon could earn about $4 per share, compared to the second quarter’s $4.21 per share profit, analysts wrote.
TheStreet.com
Costco Has Surprising Gas News for Members, Investors
Costco offers a very simple proposition to its members. Basically, Costco offers no frills — its stores aren’t just called warehouses, they actually are warehouses — and items are basically just stacked on pallets. Costco also puts relentless pressure on its vendors to squeeze out every penny of cost from each item.
Benzinga
3 Reasons To Invest In Treasury ETFs Over Treasuries Themselves
Treasury bills are short-term U.S. government securities with maturities ranging from a few days to 52 weeks. Bills are sold at a discount from their face value. A Treasury note is a U.S. government debt security with a fixed interest rate and maturity between two and 10 years. Alexander Morris, F/m Investment’s president, CIO and co-creator of the U.S. Benchmark Series, said that his organization believes that “the U.S. Benchmark Series will revolutionize the financial markets, making the most
TipRanks
Chips Are Down but Not Out; Here Are 2 ‘Strong Buy’ Semiconductor Stocks From a Top Analyst
Chip stocks have had a brutal ride in 2022. The tables have turned on a sector particularly sensitive to cycles; after seeing outsized growth during the pandemic, and despite the global chip shortage, waning demand has seen many in the segment hit hard. Factor in some lofty valuations, a slowing economy and fears of a full-blown recession and the result is the SOX (the main Semiconductor index) is down by 38% year-to-date. That said, there are many good companies operating in the space whose sha