Oil steadies as U.S. supply concerns ease, Iran tension unresolved
Oil prices steadied on Tuesday as a resumption of output in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply due to shale oil countered tensions in the Middle East.
Oil prices steadied on Tuesday as a resumption of output in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply due to shale oil countered tensions in the Middle East.
Global stocks struggled to cling to recent gains on Tuesday and the dollar lingered with markets awaiting U.S. data and a slew of corporate and bank earnings for a fresh readout on the health of the world's largest economy.
The European Union's trade surplus in goods with the United States and its deficit with China both increased in the first five months of 2019, figures that could add extra strain to global tensions.
Johnson & Johnson reported a 41.8% rise in second-quarter profit on Tuesday, helped by its pharmaceuticals business.
While the nation's fourth-largest bank is expected to report 17.5% year-over-year profit growth, Wells Fargo is still looking for a new CEO.
Oil prices rose on Tuesday as a resumption of output in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply due to shale oil countered tensions in the Middle East.
Analysts polled by Refinitiv are expecting earnings of $4.89 per share and revenue of $88.828 billion when Goldman Sachs reports second-quarter earnings Tuesday.
Two years ago Nasdaq Inc and Citigroup Inc announced a new blockchain system they said would make payments of private securities transactions more efficient. Nasdaq Chief Executive Adena Friedman called it "a milestone in the global financial sector."
Banks, exchange operators and other companies are investing billions of dollars to find uses for blockchain, a digital ledger used by cryptocurrencies like bitcoin.
Ryanair remains confident in the Boeing 737 MAX and believes the plane will be "warmly welcomed" by customers, Chief Executive Michael O'Leary said on Tuesday after he was forced to half the airline's 2020 growth plans due to the plane's grounding.
Bank stocks have rebounded in recent months as strong results from lenders' retail businesses helped drive firms to record profits.
Darkening German investor morale and fresh Brexit woes cast a shadow over European markets on Tuesday, with German benchmark bond yields coming under pressure and the pound plunging to six month-lows against the euro.
Strong demand for designer Riccardo Tisci's new fashion ranges helped revenue at British label Burberry grow faster than expected in the first quarter, sending its shares soaring as a high stakes overhaul showed early signs of promise.
Executives from tech giants Apple Inc , Amazon.com Inc , Facebook Inc and Alphabet's Google go before the House Judiciary Committee's antitrust panel Tuesday to discuss competition in online markets.
South Korea's Samsung Electronics and SK Hynix have asked a local supplier to the boost supply of a key chipmaking chemical to guard against any production disruptions, an official at the supplier said on Tuesday.