Stocks Trim Gains on Oil Slide in US Intraday

Stocks Trim Gains on Oil Slide in US Intraday

The main US equity markets were gaining on Tuesday afternoon, starting a new year in the green and snapping a three-day slide that ended 2016, although off the day’s highs following a decline in oil prices. After ending 2016 with a three-day drop, stocks renewed their general trend higher with gains on the Dow Jones Industrial Average led by a 2.5% rise in Merck (MRK) and a 2.4% increase in […]

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InterOil Signs Accords With SLS Energy

InterOil Signs Accords With SLS Energy

InterOil said Thursday it has entered two accords under which Colombia-based SLS Energy will share the cost of drilling four wells in the Altair and LLA-47 contracts. SLS will assume responsibility for 90% of the capex for the Altair well, in return initially for 85% of the net operating income from the well and 36% once the cost of the investment has been recovered. SLS will assume responsibility for 60% […]

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Bonds Ramp Higher

Bonds Ramp Higher

U.S. Treasuries jumped higher following a better-than-expected five-year auction while stocks continued to fall back. The auction saw bidders take a significantly lower yield to own the issue, foreign buyers with a record-high take while overall demand was at the highest since November 2014. Technicians were calling for higher yield/lower price levels in the near-term although some pointed to some corrective action ahead. The 30-year was boosted to trade to […]

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Bonds Edge Lower in Light Trade

Bonds Edge Lower in Light Trade

U.S. Treasuries late Tuesday consolidated near the lowest yield/highest price levels in a week with the long bond hit hardest. Supply and improved economic data added weight in a low-volume holiday-shortened week. The week’s first auction didn’t go well, as many feared, with buyers requiring a higher-than-anticipated yield while overall demand hit the lowest since December 2008 and foreign participants dropped to the lowest since July. The 30-year has been […]

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UK Consumer Confidence Advances Marginally in December

UK Consumer Confidence Advances Marginally in December

A measure of consumer confidence in the UK showed a marginal, although unexpected, increase in sentiment the month of December although Britons remained decidedly pessimistic regarding next year’s economic growth prospects. Research company GfK’s closely-watched Consumer Confidence Index posted a reading of -7 in December, one point higher than the reading registered in November and also above economists’ expectations for reading of -8. Two of the five measures used by […]

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