Oil prices rebound more than 2% after plunge on Trump's tariff vow
Oil prices rose around 2% on Friday, regaining ground after their biggest falls in years on U.S. President Donald Trump's threat to impose more tariffs on Chinese imports.
Oil prices rose around 2% on Friday, regaining ground after their biggest falls in years on U.S. President Donald Trump's threat to impose more tariffs on Chinese imports.
EU antitrust regulators will block Novelis' [NVLXC.UL] $2.6 billion bid for steel processor Aleris [TXPACA.UL] if the U.S. aluminum producer does not offer concessions by Aug. 9, people familiar with the matter said.
The list of new tariff goods "disproportionately impacts apparel, footwear, consumer electronics, and toys," forcing Wall Street to decide who will bare the most burden.
Chevron Corp reported a 26.3% rise in quarterly profit on Friday, as higher production more than offset lower crude oil and natural gas prices and a rise in expenses.
Amazon.com Inc is in talks with Reliance Industries Ltd's retail unit to buy a stake in India's biggest brick-and-mortar retailer, two sources with knowledge of the talks told Reuters on Friday.
Bank of America is calling for U.S. stocks to hold near current levels through the rest of the year after President Donald Trump threatened to put new tariffs on Chinese goods.
U.S. job growth slowed in July and wages picked up moderately, which together with an escalation in trade tensions between the United States and China could give the Federal Reserve ammunition to cut interest rates again next month.
Oil prices rose more than 2% on Friday, regaining some ground after their biggest falls in years on U.S. President Donald Trump's threat to impose more tariffs on Chinese imports.
Exxon Mobil Corp reported a 21% drop in quarterly profit on Friday, hit by weaker natural gas prices, lower refining profits and a loss in its U.S. chemicals business.
Sprint Corp on Friday reported fewer-than-expected losses in quarterly net phone subscribers who pay a monthly bill, as the U.S. wireless carrier's cheaper plans helped it retain customers amid its pending merger with larger rival T-Mobile US .
The Economic Policy Uncertainty Index hit its second-highest level of all time, 340, in June.
Shares in Ferrari went into reverse on Friday as the Italian luxury carmaker failed to lift its guidance for 2019 despite strong results in the first part of the year.
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Bank of America Merrill Lynch reiterated its buy rating for Apple.
U.S. aluminum maker Novelis [NVLXC.UL] must offer concessions to European Union competition authorities by Aug. 9 to gain approval for its $2.6 billion takeover of aluminum processor Aleris [TXPACA.UL], sources close to the matter said.