LONDON/DUBAI (Reuters) – A drop in oil prices this month is likely to be short-term and will not deflect OPEC from its policy of keeping output high to defend market share, delegates from Gulf OPEC members and other nations said. OPEC, in a major policy shift, decided in November against cutting its production target of 30 million barrels per day (bpd) to prop up prices, seeking instead to defend market
Analysts, for the most part, remain as upbeat as ever on Apple after investors knocked more than $65 billion off the company’s market value in initial reaction to the company’s quarterly results on Tuesday.
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Home Depot Inc said it agreed to buy home repair and maintenance product seller Interline Brands Inc for $1.63 billion. The all-cash deal is expected to be completed in Home Depot’s quarter ending Nov. …
The National Retail Federation, the biggest U.S. retail association, cut its forecast for retail sales growth in the country this year, citing an unexpected slowdown in growth in the first half of the year. The NRF now expects U.S. retail sales to grow 3.5 percent in 2015, lower than the 4.1 percent growth it forecast in February. ” … A deflationary retail environment has been especially challenging for retailers’ bottom
Weak results from IBM, United Technologies and other companies pulled stocks lower in midday trading Tuesday. Telecommunications stocks were among the biggest decliners.
U.S. stocks traded mostly lower as investors reacted to lackluster earnings reports in some Dow components.
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U.S. stocks traded mostly lower as investors weighed some lackluster earnings reports in Dow components.
Gary Ross, the founder of consultants PIRA Energy Group, said oil markets aren’t nearly as oversupplied as many believe and spare capacity is tight since Saudi Arabia is pumping all the crude it can without new drilling. Such views fail to take into account the impact of $50 oil on output outside North America as producers reduce spending, according to Ross.