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26.02.2021

Live Nation Entertainment Posts FY Loss

WASHINGTON (dpa-AFX) - Live Nation Entertainment Inc. (LYV) reported that its fourth-quarter net loss attributable to common stockholders was $1.72 billion or $8.12 per share, compared to net income of $69.89 million in the prior year.Revenue for the year dropped to $1.86 billion from $11.55 billion in the prior year.At the end of the fourth quarter of 2020, the company had total cash and cash equivalents of $2.5 billion, which includes $643 million of free cash.'Given the limited touring activity in 2020 and 2021, the pipeline for 2022 is much stronger than usual, with almost twice as many major touring artists on cycle in 2022 than a typical year - about 45 artists versus the usual 25,' the company said.Copyright RTT News/dpa-AFX
26.02.2021

Monster Beverage Q4 Profit Increases

WASHINGTON (dpa-AFX) - Monster Beverage Corp. (MNST) reported that its net income for the 2020 fourth quarter increased 85.0 percent to $471.7 million, from $255.0 million in the 2019 fourth quarter. Net income per share for the 2020 fourth quarter increased 87.5 percent to $0.88, from $0.47 in the fourth quarter of 2019.Net income per share for the 2020 fourth quarter, excluding the Non-Recurring Tax Benefit, the impact of the Product Returns, associated inventory provisions and other related costs, increased 30.6 percent to $0.62 from $0.47 in the fourth quarter of 2019. Analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.Net sales for the 2020 fourth quarter increased 17.6 percent to $1.20 billion, from $1.02 billion in the same period last year. Analysts expected revenue of $1.13 billion for the quarter.Copyright RTT News/dpa-AFX
26.02.2021

AT&T Sells DirecTV Stake To Private Equity Firm TPG

DALLAS (dpa-AFX) - AT&T Inc. (T) has reached a deal with private equity firm TPG Capital to make its struggling satellite TV provider DirecTV a new standalone company.The deal will establish a new company that will own and operate AT&T's U.S. video business unit consisting of the DirecTV, AT&T TV and U-verse video services. The new company will have an enterprise value of $16.25 billion. The company will be jointly governed by a board with two representatives from each of AT&T and TPG, as well as a fifth seat for the CEO, which at closing will be Bill Morrow, CEO of AT&T's U.S. video unit. Following the close of the transaction, AT&T will own 70% of the common equity and TPG will own 30%.AT&T will receive $7.8 billion in the deal, which it will use to pay down its mounting debt load. TPG will contribute $1.8 billion in cash to New DirecTV in exchange for preferred units and a 30% interest in common units of New DirecTV.In 2014, AT&T agreed to buy DirecTV for $48.5 billion, or more than $67 billion including debt. 'This agreement aligns with our investment and operational focus on connectivity and content, and the strategic businesses that are key to growing our customer relationships across 5G wireless, fiber and HBO Max. And it supports our deliberate capital allocation commitment to invest in growth areas, sustain the dividend at current levels, focus on debt reduction and restructure or monetize non-core assets,' said AT&T CEO John Stankey.Copyright RTT News/dpa-AFX
25.02.2021

EARNINGS SUMMARY: Details of First Solar, Inc. Q4 Earnings Report

TEMPE (dpa-AFX) - Below are the earnings highlights for First Solar, Inc. (FSLR):-Earnings: $115.70 million in Q4 vs. -$59.41 million in the same period last year. -EPS: $1.08 in Q4 vs. -$0.56 in the same period last year. -Revenue: $0.61 billion in Q4 vs. $1.40 billion in the same period last year.Copyright RTT News/dpa-AFX
25.02.2021

Beyond Meat, Inc. Q4 adjusted earnings Miss Estimates

WASHINGTON (dpa-AFX) - Below are the earnings highlights for Beyond Meat, Inc. (BYND):-Earnings: -$25.08 million in Q4 vs. -$0.45 million in the same period last year. -EPS: -$0.40 in Q4 vs. -$0.01 in the same period last year. -Excluding items, Beyond Meat, Inc. reported adjusted earnings of -$21.36 million or -$0.34 per share for the period. -Analysts projected -$0.13 per share -Revenue: $101.94 million in Q4 vs. $98.48 million in the same period last year.Copyright RTT News/dpa-AFX
25.02.2021

Dell Technologies Q4 Results Top Street View

ROUND ROCK (dpa-AFX) - Dell Technologies (DELL) Thursday reported an increase in profit for fourth quarter as revenues rose 9% driven largely by continued demand for desktops and notebooks as COVID-19 pandemic continues to force several people to work remotely. Both earnings and revenues for the quarter trumped Wall Street analysts' estimates.Round Rock, Texas-based Dell's fourth-quarter profit rose to $1.34 billion or $1.57 per share, up from $416 million or $0.54 per share last year.Adjusted earnings were $2.29 billion or $2.70 per share for the period, up from $1.68 billion or $2.00 per share last year.. Analysts polled by Thomson Reuters estimated earnings of $2.14 per share. Analysts' estimates typically exclude special items.Revenue for the quarter rose 9% to $26.11 billion from $24.02 billion last year. Analysts had a consensus revenue estimate of $24.49 billion.'In the past year, our team rallied to support our customers and partners worldwide as technology played a central role in keeping our society, economy and lives moving forward,' said Jeff Clarke, chief operating officer, Dell Technologies. 'We generated record revenue of $94.2 billion this year by helping customers adapt to new work-and-learn-from-anywhere realities and are in an advantaged position to capitalize on the projected mid-single digits growth in IT spending in 2021.' Client Solutions Group revenues grew to 17% to a record $13.8 billion, with consumer revenue up 19% and commercial client revenue up 16%.DELL closed Thursday's trading at $79.68, down $2.01 or 2.46%, on the Nasdaq. The stock, however, gained $2.57 or 3.23% in the after-hours trade.Copyright RTT News/dpa-AFX
25.02.2021

Endo International plc Q4 adjusted earnings of $0.75 per share

WASHINGTON (dpa-AFX) - Below are the earnings highlights for Endo International plc (ENDP):-Earnings: $119.34 million in Q4 vs. -$218.64 million in the same period last year. -EPS: $0.51 in Q4 vs. -$0.96 in the same period last year. -Excluding items, Endo International plc reported adjusted earnings of $175.99 million or $0.75 per share for the period. -Revenue: $760.22 million in Q4 vs. $764.80 million in the same period last year.Copyright RTT News/dpa-AFX
25.02.2021

Edison International Reveals Gain In Q4 Bottom Line

WASHINGTON (dpa-AFX) - Edison International (EIX) reported earnings for its fourth quarter that increased from last year.The company's bottom line totaled $526 million, or $1.39 per share. This compares with $143 million, or $0.40 per share, in last year's fourth quarter.The company's revenue for the quarter rose 6.4% to $3.16 billion from $2.97 billion last year.Edison International earnings at a glance:-Earnings (Q4): $526 Mln. vs. $143 Mln. last year.-EPS (Q4): $1.39 vs. $0.40 last year.-Revenue (Q4): $3.16 Bln vs. $2.97 Bln last year.Copyright RTT News/dpa-AFX
25.02.2021

Workday, Inc. Q4 adjusted earnings Beat Estimates

WASHINGTON (dpa-AFX) - Below are the earnings highlights for Workday, Inc. (WDAY):-Earnings: -$71.71 million in Q4 vs. -$127.96 million in the same period last year. -EPS: -$0.30 in Q4 vs. -$0.56 in the same period last year. -Excluding items, Workday, Inc. reported adjusted earnings of $184.55 million or $0.73 per share for the period. -Analysts projected $0.55 per share -Revenue: $1.13 billion in Q4 vs. $0.98 billion in the same period last year.Copyright RTT News/dpa-AFX
25.02.2021

Kratos Defense & Security Solutions, Inc. Q4 adjusted earnings Miss Estimates

WASHINGTON (dpa-AFX) - Kratos Defense & Security Solutions, Inc. (KTOS) reported a profit for its fourth quarter that increased from last year.The company's bottom line totaled $78.1 million, or $0.62 per share. This compares with $3.0 million, or $0.03 per share, in last year's fourth quarter.Excluding items, Kratos Defense & Security Solutions, Inc. reported adjusted earnings of $16.4 million or $0.08 per share for the period. Analysts had expected the company to earn $0.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.The company's revenue for the quarter rose 11.5% to $206.4 M from $185.1 M last year.Kratos Defense & Security Solutions, Inc. earnings at a glance:-Earnings (Q4): $16.4 Mln. vs. $14.8 Mln. last year.-EPS (Q4): $0.08 vs. $0.09 last year.-Analysts Estimate: $0.10-Revenue (Q4): $206.4 M vs. $185.1 M last year.Copyright RTT News/dpa-AFX
26.02.2021

Japanese Market Sharply Lower

TOKYO (dpa-AFX) - The Japanese market is sharply lower on Friday, with the benchmark Nikkei 225 dipping more than 900 points to below 29,300, driven by a massive selloff in high-flying technology shares. Investors are worried that rising bond yields in recent weeks could hurt high-growth companies reliant on easy borrowing. Overnight cues from Wall Street were also negative.The benchmark Nikkei 225 Index closed tha morning session at to 29,446.17, down 722.10 points or 2.39 percent, after touching a low of 29,219.15 in early trades. Japanese shares closed higher on Thursday.Market heavyweight SoftBank Group is losing more than 3 percent, while Fast Retailing is declining more than 2 percent. Among automakers, Honda is losing nearly 2 percent and Toyota is lower by almost 2 percent.In the tech space, Advantest is losing more than 5 percent and Tokyo Electron is down almost 3 percent. In the banking sector, Mitsubishi UFJ Financial is edging down 0.2 percent, while Sumitomo Mitsui Financial is losing 0.4 percent.The major exporters are lower on a stronger yen. Mitsubishi Electric is declining more than 2 percent and Panasonic is declining almost 4 percent, while Canon and Sony are down almost 3 percent each.Among the other major gainers, Mitsui Engineering & Shipbuilding is gaining almost 8 percent and Nikon is adding more than 7 percent, while Fanuc and DOWA are up nearly 6 percent. Dentsu, SUMCO and NSK are gaining more than 5 percent each, while Marubeni, Rakuten and Yamaha are up almost 5 percent each.Conversely, Aeon is losing almost 5 percent, Suzuki Motor is lower by more than 3 percent and Seven & i is declining almost 3 percent.In the currency market, the U.S. dollar is trading in the lower 106 yen-range on Friday.In economic news, the Ministry of Economy, Trade and Industry said industrial output in Japan was up a seasonally adjusted 4.2 percent on month in January. That beat expectations for an increase of 4.0 percent following the 1.0 percent decline in December. On a yearly basis, industrial production dropped 5.3 percent - roughly in line with forecasts after slipping 2.6 percent in the previous month.The METI also said that the value of retail sales in Japan was down a seasonally adjusted 0.5 percent on month in January, coming in at 12.097 trillion yen. That beat expectations for a fall of 0.6 percent following the 0.8 percent decline in December. On a yearly basis, retail sales dropped 2.4 percent - again exceeding expectations for a fall of 2.6 percent after the 0.2 percent dip in the previous month.The Ministry of Internal Affairs and Communications said that overall consumer prices in the Tokyo region of Japan - considered a leading indicator for the nationwide trend - were down 0.3 percent on year in February, following the 0.5 percent decline in January.Core CPI, which excludes volatile food prices, also was down an annual 0.3 percent versus expectations for a fall of 0.4 percent - which would have been unchanged from the previous month. On a seasonally adjusted monthly basis, overall inflation was up 0.1 percent and core CPI was flat.On Wall Street, stocks moved sharply lower over the course of the trading session on Thursday, more than offsetting the rally seen on Wednesday. The major averages came under pressure in early trading and saw further downside as the day progressed, with the tech-heavy Nasdaq posting a particularly steep loss..The Nasdaq plunged 478.54 points or 3.5 percent to 13,119.43, its lowest closing level in nearly a month. The Dow also tumbled 559.85 points or 1.8 percent to 31,402.01 and the S&P 500 plummeted 96.09 points or 2.5 percent to 3,829.34.The major European markets also moved to the downside on Thursday. While the German DAX Index slid by 0.7 percent, the French CAC 40 Index dipped by 0.2 percent and the U.K.'s FTSE 100 Index edged down by 0.1 percent.Crude oil futures rose on Thursday for a fourth straight session amid hopes global energy demand will see a significant rise and hit pre-Covid-19 levels by the end of this year. West Texas Intermediate Crude oil futures for April was up $0.31 or 0.5 percent at $63.53 a barrel after hitting a fresh 13-month high of $63.81 a barrel.Copyright RTT News/dpa-AFX
26.02.2021

Lower Open Predicted For China Stock Market

BEIJING (dpa-AFX) - The China stock market on Thursday halted the three-day slide in which it had dropped almost 130 points or 3.8 percent. The Shanghai Composite Index now sits just above the 3,585-point plateau although it's expected to turn lower again on Friday.The global forecast for the Asian markets is firmly negative on treasury yield and interest rate concerns. The European and U.S. markets were firmly in the red and the Asian bourses figure to follow that lead.The SCI finished modestly higher on Thursday following large gains from the property sector and more measured upside from the financials and resource stocks.For the day, the index added 20.97 points or 0.59 percent to finish at 3,585.05 after trading between 3,568.47 and 3,608.56. The Shenzhen Composite Index shed 11.88 points or 0.51 percent to end at 2,335.40.Among the actives, Industrial and Commercial Bank of China rallied 2.64 percent, while Bank of China collected 0.93 percent, China Construction Bank spiked 2.94 percent, China Merchants Bank jumped 1.59 percent, Bank of Communications climbed 1.09 percent, China Life Insurance gathered 2.11 percent, Jiangxi Copper added 0.74 percent, Aluminum Corp of China (Chalco) surged 6.35 percent, Yanzhou Coal accelerated 3.47 percent, PetroChina perked 1.61 percent, China Petroleum and Chemical (Sinopec) improved 2.19 percent, China Shenhua Energy advanced 2.15 percent, Gemdale soared 8.39 percent, Poly Developments jumped 8.43 percent and China Vanke and China Fortune Land both skyrocketed by the 10 percent daily limit.The lead from Wall Street is broadly negative as stocks opened in the red and saw the losses continue to accelerate as the day progressed.The Dow plunged 559.85 points or 1.75 percent to finish at 31,402.01, while the NASDAQ plummeted 478.54 points or 3.52 percent to close at 13,119.43 and the S&P 500 tumbled 96.09 points or 2.45 percent to close at 3,829.34.The sell-off on Wall Street followed a continued increase in treasury yields, which led to renewed concerns about interest rates. The yields on ten-year notes and thirty-year bonds rose to their highest levels in a year, with the ten-year yield spiking above 1.6 percent in intraday trading.The increase in yields followed the release of a batch of largely upbeat U.S. economic data, including a report from the Labor Department showing a steep drop in first-time claims for U.S. unemployment benefits last week.The Commerce Department also reported that new orders for U.S. manufactured durable goods spiked more than expected in January. A separate report from the Commerce Department showed U.S. gross domestic product jumped slightly more than estimated in the fourth quarter of 2020.Crude oil futures rose on Thursday for a fourth straight session amid hopes global energy demand will see a significant rise and hit pre-Covid-19 levels by the end of this year. West Texas Intermediate Crude oil futures for April was up $0.31 or 0.5 percent at $63.53 a barrel after hitting a fresh 13-month high of $63.81 a barrel.Copyright RTT News/dpa-AFX
25.02.2021

Continued Increase In Bond Yields Leads To Sell-Off On Wall Street

WASHINGTON (dpa-AFX) - Stocks moved sharply lower over the course of the trading session on Thursday, more than offsetting the rally seen on Wednesday. The major averages came under pressure in early trading and saw further downside as the day progressed.The major averages all saw substantial weakness, with the tech-heavy Nasdaq posting a particularly steep loss. The Nasdaq plunged 478.54 points or 3.5 percent to 13,119.43, its lowest closing level in nearly a month.The Dow also tumbled 559.85 points or 1.8 percent to 31,402.01 and the S&P 500 plummeted 96.09 points or 2.5 percent to 3,829.34.The sell-off on Wall Street came amid a continued increase in treasury yields, which led to renewed concerns about interest rates despite Federal Reserve Chair Jerome Powell's assurances of ultra-easy monetary policy for the foreseeable future.The yields on ten-year notes and thirty-year bonds once again rose to their highest levels in a year, with the ten-year yield briefly spiking above 1.6 percent in intraday trading.The increase in yields came following the release of a batch of largely upbeat U.S. economic data, including a report from the Labor Department showing a steep drop in first-time claims for U.S. unemployment benefits in the week ended February 20th.The Labor Department said initial jobless claims tumbled to 730,000, a decrease of 111,000 from the previous week's revised level of 841,000.Economists had expected jobless claims to drop to 838,000 from the 861,000 originally reported for the previous week.With the much bigger than expected decrease, jobless claims fell to their lowest level since hitting 716,000 in the week ended November 28th.The Commerce Department also released a report showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of January.The report said durable goods orders soared by 3.4 percent in January after jumping by an upwardly revised 1.2 percent in December.Economists had expected durable goods orders to surge up by 1.1 percent compared to the 0.5 percent increase that had been reported for the previous month.Excluding a sharp increase in orders for transportation equipment, durable goods orders still jumped by 1.4 percent in January after spiking by an upwardly revised 1.7 percent in December.Ex-transportation orders had been expected to climb by 0.7 percent, matching the increase that had been reported for the previous month.A separate report released by the Commerce Department showed U.S. gross domestic product jumped by slightly more than originally estimated in the fourth quarter of 2020.The Commerce Department said GDP surged up by 4.1 percent in the fourth quarter compared to the previously reported 4.0 percent spike. The upward revision matched economist estimates.Sector NewsSemiconductor stocks turned in some of the market's worst performances on the day, resulting in a 5.8 percent nosedive by the Philadelphia Semiconductor Index.Substantial weakness was also visible among housing stocks, as reflected by the 4.8 percent plunge by the Philadelphia Housing Sector Index.The sell-off by housing stocks came after the National Association of Realtors released a report showing a steep drop in U.S. pending home sales in the month of January, with inventory constraints continuing to hold back prospective buyers.Airline stocks also pulled back sharply after soaring in recent sessions, with the NYSE Arca Airline Index plummeting by 4.3 percent after ending Wednesday's trading at its highest closing level in a year.Computer hardware, gold, steel and software stocks also saw considerable weakness on the day, moving notably lower along with most of the other major sectors.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Thursday. Japan's Nikkei 225 Index shot up by 1.7 percent, while South Korea's Kospi spiked by 3.5 percent.Meanwhile, the major European markets moved to the downside on the day. While the German DAX Index slid by 0.7 percent, the French CAC 40 Index dipped by 0.2 percent and the U.K.'s FTSE 100 Index edged down by 0.1 percent.In the bond market, treasuries moved sharply lower on the day, extending the steep drop seen in recent sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 12.9 basis points to 1.518 percent.Looking AheadAnother batch of economic data may impact trading on Friday, with traders likely to keep an eye on reports on personal income and spending, consumer sentiment, and Chicago-area business activity.Copyright RTT News/dpa-AFX
25.02.2021

Swiss Market Ends Moderately Lower After Cautious Session

BRUSSELS (dpa-AFX) - Save for a few minutes at the start, the Switzerland stock market languished in negative territory on Thursday, as traders chose to cut down positions amid rising bond yields and on worries about inflation.The mood was cautious and activity was largely stock specific. The benchmark SMI ended down 68.83 points or 0.64% at 10,658.87 slightly off the session's low. The index advanced to 10,746.09 at the start.Roche Holding ended lower by 1.8%, Lonza Group slid 1.45% and Sika declined 1.25%. Givaudan and Richemont both lost about 1%, while Alcon, Nestle, SGS and Novatis lost 0.4 to 0.6%.Swiss Life Holding moved up 1.16%, Credit Suisse gained 0.75%, Swiss Re ended 0.55% up and UBS Group gained 0.3%.In the midcap section, Adecco, OC Oerlikon Corp, AMS, Cembra Money Bank, Schindler Ps, Schindler Holding, Temenos Group, BB Biotech, Ems Chemie Holding and Clariant lost 1 to 1.7%.On the other hand, Dufry gained 3.3%, extending gains from previous session. Barry Callebaut ended nearly 2% up, while Baloise Holding and Helvetia gained 1.1% and 1%, respectively.Copyright RTT News/dpa-AFX
25.02.2021

Major European Markets Close Weak

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The major European stocks closed lower on Thursday after a cautious session as rising bond yields outweighed optimism about quick economic recovery, prompting investors to lighten commitments in equity markets.Promising new data on Johnson & Johnson's coronavirus vaccine, imminent additional stimulus in the U.S., and recent statement from the Fed Chairman Jerome Powell about easy monetary policy for the foreseeable future also helped lift expectations about a swift economic recovery.Other markets in Europe turned in a mixed performance, with a few of them even managing to close with strong gains.The pan European Stoxx 600 slid 0.36%. The U.K.'s FTSE 100 edged down 0.11%, Germany's DAX ended lower by 0.69% and France's CAC 40 declined 0.24%, while Switzerland's SMI slipped 0.64%.Among other markets in Europe, Czech Republic, Denmark, Finland, Greece, Norway, Portugal, Russia, Spain and Turkey closed higher.Belgium, Iceland and Ireland ended weak, while Austria, Netherlands, Poland and Sweden settled flat.In the UK market, Standard Chartered fell more than 6% after reporting a 57% declined in annual profit. Intermediate Capital Group lost 4.7%. Polymetal International, Persimmon, Berkeley Group Holdings, Ashtead Group, Hikma Pharmaceuticals, Whitbread and BT Group lost 2 to 4%.DS Smith shares gained more than 5% on reports that rival Mondi Pls was exploring a takeover. Mondi shares failed to hold early gains and ended flat.Evraz gained nearly 6% and Anglo American climbed nearly 4%, while Rio Tinto, BP, Burberry Group and Prudential gained 1.3 to 2%.In the French market, Safran fell sharply on weak quarterly results. Airbus Group, Valeo, Air Liquide, Capgemini and Essilor also declined sharply.TechnipFMC soared more than 11%, Unibail Rodamco gained about 3% and Societe Generale surged up 2.7%. Atos, Air France-KLM and ArcelorMittal also rose sharply.In Germany, Bayer plunged more than 6% after reporting a 78% drop in earnings. Linde, MTU Aero Engines, BASF and Deutsche Post also ended sharply lower.On the other hand, Deutsche Bank, BMW, Munich RE, Adidas, Covestro and Deutsche Telekom closed with strong gains.In economic releases, Eurozone economic confidence improved to a one-year high in February on rising sentiment in industry, services and among consumers, reflecting the easing of strict restrictions related to Covid-19 pandemic, survey results from the European Commission revealed.The economic sentiment index rose more-than-expected to 93.4 from 91.5 in the previous month. The score was forecast to climb to 92 in February.German consumer confidence is set to improve in March, survey results from the market research group GfK showed earlier in the day.The forward-looking consumer sentiment index rose more-than-expected to -12.9 in March from revised -15.5 in the previous month. The expected level was -14.3.France's consumer confidence index fell to 91 in February, while the score was forecast to remain unchanged at 92.Business optimism improved among U.K. business and professional services in the three months to February, while morale weakened in consumer services, the latest quarterly Service Sector Survey from the Confederation of British Industry showed.Copyright RTT News/dpa-AFX
25.02.2021

U.S. Stocks See Further Downside After Early Pullback

WASHINGTON (dpa-AFX) - Stocks have moved sharply lower over the course of the trading day on Thursday, offsetting the rally seen in the previous session. The major averages have all moved to the downside, with the tech-heavy Nasdaq showing a particularly steep drop.Currently, the major averages are just off their worst levels of the day. The Dow is down 298.97 points or 0.9 percent at 31,662.89, the Nasdaq is down 286.29 points or 2.1 percent at 13,311.68 and the S&P 500 is down 54.31 points or 1.4 percent at 3,871.12.The sell-off on Wall Street may partly reflect profit taking following yesterday's rally, which lifted the Dow to a new record closing high.Traders also remain concerned about a continued increase in bond yields, with yields on ten-year notes and thirty-year bonds once again reaching their highest intraday levels in a year.The increase in yields comes following the release of a batch of largely upbeat U.S. economic data, including a report from the Labor Department showed a steep drop in first-time claims for U.S. unemployment benefits in the week ended February 20th.The Labor Department said initial jobless claims tumbled to 730,000, a decrease of 111,000 from the previous week's revised level of 841,000.Economists had expected jobless claims to drop to 838,000 from the 861,000 originally reported for the previous week.With the much bigger than expected decrease, jobless claims fell to their lowest level since hitting 716,000 in the week ended November 28th.The Commerce Department also released a report showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of January.The report said durable goods orders soared by 3.4 percent in January after jumping by an upwardly revised 1.2 percent in December.Economists had expected durable goods orders to surge up by 1.1 percent compared to the 0.5 percent increase that had been reported for the previous month.Excluding a sharp increase in orders for transportation equipment, durable goods orders still jumped by 1.4 percent in January after spiking by an upwardly revised 1.7 percent in December.Ex-transportation orders had been expected to climb by 0.7 percent, matching the increase that had been reported for the previous month.A separate report released by the Commerce Department showed U.S. gross domestic product jumped by slightly more than originally estimated in the fourth quarter of 2020.The Commerce Department said GDP surged up by 4.1 percent in the fourth quarter compared to the previously reported 4.0 percent spike. The upward revision matched economist estimates.Sector NewsAirline stocks have pulled back sharply after soaring over the past few sessions, resulting in a 3.9 percent nosedive by the NYSE Arca Airline Index. The index ended the previous session at its best closing level in a year.Reflecting weakness in the broader tech sector, semiconductor and computer hardware stocks are also posting steep losses, with the Philadelphia Semiconductor Index and the NYSE Arca Computer Hardware Index plunging by 3.5 percent and 2.9 percent, respectively.Substantial weakness has also emerged among housing stocks, as reflected by the 2.8 percent slump by the Philadelphia Housing Sector Index. The sell-off by housing stocks comes after the National Association of Realtors released a report showing a steep drop in U.S. pending home sales in the month of January, with inventory constraints continuing to hold back prospective buyers.Gold stocks are also seeing considerable weakness amid a steep drop by the price of the precious metal, moving notably lower along with software, biotechnology and retail stocks.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Thursday. Japan's Nikkei 225 Index shot up by 1.7 percent, while South Korea's Kospi spiked by 3.5 percent.The major European markets also moved to the downside on the day. While the German DAX Index slid by 0.7 percent, the French CAC 40 Index dipped by 0.2 percent and the U.K.'s FTSE 100 Index edged down by 0.1 percent.In the bond market, treasuries have climbed off their worst levels but continue to see notable weakness. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 6.9 basis points at 1.458 percent.Copyright RTT News/dpa-AFX
25.02.2021

U.S. Stocks Under Pressure Amid Increase In Bond Yields

WASHINGTON (dpa-AFX) - Stocks have moved mostly lower over the course of morning trading on Thursday, partly offsetting the strong gains posted in the previous session. The major averages have all moved to the downside, with the tech-heavy Nasdaq leading the way lower.In recent trading, the major averages have fallen to new lows for the session. The Dow is down 150.79 points or 0.5 percent at 31,811.07, the Nasdaq is down 136.94 points or 1 percent at 13,461.02 and the S&P 500 is down 29.10 points or 0.7 percent at 3,896.33.The weakness on Wall Street may partly reflect profit taking following yesterday's rally, which lifted the Dow to a new record closing high.Traders also remain concerned about a continued increase in bond yields, with yields on ten-year notes and thirty-year bonds once again reaching their highest intraday levels in a year.The increase in yields comes following the release of a batch of largely upbeat U.S. economic data, including a report from the Labor Department showed a steep drop in first-time claims for U.S. unemployment benefits in the week ended February 20th.The Labor Department said initial jobless claims tumbled to 730,000, a decrease of 111,000 from the previous week's revised level of 841,000.Economists had expected jobless claims to drop to 838,000 from the 861,000 originally reported for the previous week.With the much bigger than expected decrease, jobless claims fell to their lowest level since hitting 716,000 in the week ended November 28th.The Commerce Department also released a report showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of January.The report said durable goods orders soared by 3.4 percent in January after jumping by an upwardly revised 1.2 percent in December.Economists had expected durable goods orders to surge up by 1.1 percent compared to the 0.5 percent increase that had been reported for the previous month.Excluding a sharp increase in orders for transportation equipment, durable goods orders still jumped by 1.4 percent in January after spiking by an upwardly revised 1.7 percent in December.Ex-transportation orders had been expected to climb by 0.7 percent, matching the increase that had been reported for the previous month.A separate report released by the Commerce Department showed U.S. gross domestic product jumped by slightly more than originally estimated in the fourth quarter of 2020.The Commerce Department said GDP surged up by 4.1 percent in the fourth quarter compared to the previously reported 4.0 percent spike. The upward revision matched economist estimates.Meanwhile, the National Association of Realtors released a report showing a steep drop in U.S. pending home sales in the month of January, with inventory constraints continuing to hold back prospective buyers,NAR said its pending home sales index tumbled by 2.8 percent to 122.8 in January after rising by 0.5 percent to an upwardly revised 126.4 in December.Economists had expected pending home sales to come in unchanged compared to the 0.3 percent dip originally reported for the previous month.A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.Airline stocks are pulling back sharply after soaring over the past several sessions, with the NYSE Arca Airline Index plunging by 2.4 percent. The index ended the previous session at its best closing level in a year.Substantial weakness has also emerged among semiconductor stocks, as reflected by the 2.1 percent slump by the Philadelphia Semiconductor Index.Computer hardware, housing and gold stocks are also seeing notable weakness, while oil service and natural gas stocks are adding to recent gains.In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Thursday. Japan's Nikkei 225 Index shot up by 1.7 percent, while South Korea's Kospi spiked by 3.5 percent.Meanwhile, the major European markets are turning in a mixed performance on the day. While the German DAX Index is down by 0.2 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index are both up by 0.3 percent.In the bond market, treasuries are seeing notable weakness following the upbeat economic data. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 8.3 basis points at 1.472 percent.Copyright RTT News/dpa-AFX
25.02.2021

U.S. Stocks May Move In Opposite Directions In Early Trading

WASHINGTON (dpa-AFX) - Following the rally seen over the course of the previous session, U.S. stock futures are pointing to a mixed open for the markets on Thursday. The Dow futures have edged up by 27 points, while the Nasdaq futures are down by 97.25 points.The uptick by the Dow futures comes after the blue chip index moved sharply higher during trading on Wednesday, reaching a new record closing high.The Dow may benefit from some investors cycling out of high-flying technology stocks amid concerns about the recent jump in bond yields.The yields on ten-year notes and thirty-year bonds reached their highest intraday levels in a year in early trading but have recently given back some ground.The pullback by yields comes despite the release of a batch of largely upbeat U.S. economic data, including a report from the Labor Department showed a steep drop in first-time claims for U.S. unemployment benefits in the week ended February 20th.The Labor Department said initial jobless claims tumbled to 730,000, a decrease of 111,000 from the previous week's revised level of 841,000.Economists had expected jobless claims to drop to 838,000 from the 861,000 originally reported for the previous week.With the much bigger than expected decrease, jobless claims fell to their lowest level since hitting 716,000 in the week ended November 28th.The Commerce Department also released a report showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of January.The report said durable goods orders soared by 3.4 percent in January after jumping by an upwardly revised 1.2 percent in December.Economists had expected durable goods orders to surge up by 1.1 percent compared to the 0.5 percent increase that had been reported for the previous month.Excluding a sharp increase in orders for transportation equipment, durable goods orders still jumped by 1.4 percent in January after spiking by an upwardly revised 1.7 percent in December.Ex-transportation orders had been expected to climb by 0.7 percent, matching the increase that had been reported for the previous month.A separate report released by the Commerce Department showed U.S. gross domestic product jumped by slightly more than originally estimated in the fourth quarter of 2020.The Commerce Department said GDP surged up by 4.1 percent in the fourth quarter compared to the previously reported 4.0 percent spike. The upward revision matched economist estimates.Not long after the start of trading, the National Association of Realtors is scheduled to release its report on pending home sales in the month of January. Pending home sales are expected to come in unchanged.A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.After recovering from the sell-off seen early in Tuesday's session, stocks continued to advance over the course of the trading day on Wednesday. With the upward move, the Dow ended the session at a new record closing high.The Dow soared 424.51 points or 1.4 percent to 31,961.86 and the S&P 500 jumped 44.06 points or 1.1 percent to 3,925.43. The tech-heavy Nasdaq also surged up 132.77 points or 1 percent to 13,597.97 after tumbling by nearly 180 points in early trading.In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Thursday. Japan's Nikkei 225 Index shot up by 1.7 percent, while South Korea's Kospi spiked by 3.5 percent.Meanwhile, the major European markets are turning in a mixed performance on the day. While the German DAX Index is down by 0.2 percent, the French CAC 40 Index is nearly unchanged and the U.K.'s FTSE 100 Index is up by 0.3 percent.In commodities trading, crude oil futures are edging down $0.01 to $63.21 a barrel after jumping $1.55 to $63.22 a barrel on Wednesday. Meanwhile, after falling $8 to $1,797.90 an ounce in the previous session, gold futures are tumbling $18.90 to $1,779 an ounce.On the currency front, the U.S. dollar is trading at 106.10 yen versus the 105.87 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.2223 compared to yesterday's $1.2166.Copyright RTT News/dpa-AFX
25.02.2021

Euro Strengthens As Eurozone Economic Confidence Improves, European Shares Rally

CANBERA (dpa-AFX) - The euro moved higher against its major counterparts in the European session on Thursday, as Eurozone economic confidence index improved in February and risk sentiment was underpinned by Fed Chair Jerome Powell's pledge to maintain low interest rates until the U.S. economy makes a solid recovery.Survey results from the European Commission showed that Eurozone economic confidence improved to a one-year high in February on rising sentiment in industry, services and among consumers, reflecting the easing of strict restrictions related to Covid-19 pandemic.The economic sentiment index rose more-than-expected to 93.4 from 91.5 in the previous month. The score was forecast to climb to 92 in FebruaryPowell reiterated that the central bank would keep policy accommodative until the economy attains its targets for inflation and employment.The Fed chief said that inflation and employment remain well below the central bank's objectives and would require some time for substantial further progress to be achieved.Promising new data on Johnson & Johnson's coronavirus vaccine and a much bigger than expected jump in new home sales in the U.S. in the month of January also boosted sentiment.The euro appreciated to a 1-1/2-year high of 1.1098 against the franc and a 1-1/2-month high of 1.2238 against the greenback, after falling to 1.1020 and 1.2156, respectively in early deals. Immediate resistance for the euro is found near 1.12 against the franc and 1.24 against the greenback.The euro reversed from its early lows of 128.72 against the yen and 0.8597 against the pound and advanced to more than a 2-year high of 129.87 and a 2-day high of 0.8650, respectively. If the euro rises further, 131.5 and 0.88 are possibly seen as its next resistance levels against the yen and the pound, respectively.The European currency rebounded to 1.5276 against the loonie, 1.6439 against the kiwi and 1.5322 against the aussie, off its prior lows of 1.5214 and 1.6337 and more than a 3-year low of 1.5253, respectively. The euro is seen finding resistance around 1.54 against the loonie, 1.66 against the kiwi and 1.55 against the aussie.Looking ahead, U.S. durable goods orders for January, GDP data for the fourth quarter, weekly jobless claims for the week ended February 20 and pending home sales for January will be featured in the New York session.Copyright RTT News/dpa-AFX
25.02.2021

Futures Point To Broadly Lower Open For Wall Street

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Initial Jobless Claims, Durable Goods Orders, Pending Home Sales, and a slew of other economic announcements are the major attraction on Thursday. The U.S. stimulus bill is expected to be presented on the House floor for a vote tomorrow. Asian shares finished higher, while European shares are trading mostly lower. Early signs from the U.S. Futures Index suggest that Wall Street might open broadly lower. As of 7.15 am ET, the Dow futures were adding 15.00 points, the S&P 500 futures were down 12.10 points and the Nasdaq 100 futures were sliding 131.00 pointsThe U.S. major Indices gained on Wednesday. The Dow soared 424.51 points or 1.4 percent to 31,961.86 and the S&P 500 jumped 44.06 points or 1.1 percent to 3,925.43. The tech-heavy Nasdaq also surged 132.77 points or 1 percent to 13,597.97 after tumbling by nearly 180 points in early trading.On the economic front, Durable Good Orders for January will be issued at 8.30 am ET. The consensus is for an increase of 1.1 percent, while it was up 0.2 percent in the previous month. The Department of Commerce's Gross Domestic Product of GDP for the fourth quarter will be issued at 8.30 am ET. The consensus is for 4.1 percent, while it was up 4.0 percent in the prior quarter.The Labor Department's Jobless Claims for the week will be released at 8.30 am ET. The consensus is for 815K, while it was up 861K in the previous week. National Association of Realtors' Pending Home Sales Index for January will be published at 10.00 am ET. The consensus is for 0.0 percent, while it was down 0.3 percent in December. The Energy Information Administration or EIA's Natural Gas Report for the week will be issued at 10.30 am ET. In the previous week, the Gas Stock was down 237 bcf. The seven-year Treasury Note auction will be revealed at 1.00 pm ET. Fed Balance Sheet for the week is scheduled at 4.30 pm ET. In the prior week, the level was at $7.557 trillion. Federal Reserve Vice Chair for Supervision Randal Quarles will speak on 'Stress Tests' before remote Federal Reserve Bank of Atlanta 2021 Banking Outlook Conference at 4.30 pm ET. Atlanta Federal Reserve Bank President Raphael Bostic to give an economic update before virtual Greater Naples Chamber event, via Zoom webinar at 12.00 pm ET. New York Fed's John Williams to participate in a virtual discussion organized by One Hundred Black Men of New York, via Webinar at 3.00 pm ET. Asian stocks rallied on Thursday. Chinese shares rose. The benchmark Shanghai Composite index ended up 20.97 points, or 0.59 percent, at 3,585.05, while Hong Kong's Hang Seng index edged up 355.93 points, or 1.20 percent, at 30,074.17.Japanese stocks surged on economic optimism. The Nikkei average rallied 496.57 points, or 1.67 percent, to 30,168.27, while the broader Topix index closed 1.22 percent higher at 1,926.23.Australian markets advanced. The benchmark S&P/ASX 200 climbed 56.20 points, or 0.83 percent, to 6,834, while the broader All Ordinaries index ended up 56.30 points, or 0.80 percent, at 7,105.70.European shares are trading mostly lower. Among the major indexes in the region, the German DAX is losing 43.95 points or 0.31 percent, the U.K. FTSE 100 Index is gaining 25.86 points or 0.37 percent. The Swiss Market Index is down 27.32 points or 0.25 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 0.14 percent.Copyright RTT News/dpa-AFX
26.02.2021
26.02.2021

Japan Industrial Production Rises 4.2% In January

TOKYO (dpa-AFX) - Industrial output in Japan was up a seasonally adjusted 4.2 percent on month in January, the Ministry of Economy, Trade and Industry said on Friday.That beat expectations for an increase of 4.0 percent following the 1.0 percent decline in December.On a yearly basis, industrial production dropped 5.3 percent - roughly in line with forecasts after slipping 2.6 percent in the previous month.Upon the release of the data, the METI upgraded its assessment of industrial production, saying that it is now picking up.Industries that contributed to the increase included business oriented machinery, electronic parts and electrical machinery - offset by declines among transport equipment and petroleum products.Shipments were up 3.2 percent on month and down 5.1 percent on year, while inventories fell 0.2 percent on month and 10.5 percent on year. The inventory ratio was down 6.3 percent on month and 4.8 percent on year.According to the METI's forecast of industrial production, output is expected to rise 2.1 percent on month in February and then fall 6.1 percent in March.Industries contributing to the increase in February include production machinery, chemicals and electronic parts. Industries contributing to the decline in March include production machinery, electronic parts and business oriented machinery.Also on Friday:. The METI also said that the value of retail sales in Japan was down a seasonally adjusted 0.5 percent on month in January, coming in at 12.097 trillion yen. That beat expectations for a fall of 0.6 percent following the 0.8 percent decline in December.On a yearly basis, retail sales dropped 2.4 percent - again exceeding expectations for a fall of 2.6 percent after the 0.2 percent dip in the previous month.Wholesale sales were up 2.1 percent on month and down 5.3 percent on year at 29.402 trillion yen, while commercial sales rose 0.5 percent on month and sank 4.7 percent on year at 41.499 trillion yen.. The Ministry of Internal Affairs and Communications said that overall consumer prices in the Tokyo region of Japan - considered a leading indicator for the nationwide trend - were down 0.3 percent on year in February, following the 0.5 percent decline in January.Core CPI, which excludes volatile food prices, also was down an annual 0.3 percent versus expectations for a fall of 0.4 percent - which would have been unchanged from the previous month.On a seasonally adjusted monthly basis, overall inflation was up 0.1 percent and core CPI was flat.Copyright RTT News/dpa-AFX
26.02.2021

Japan Retail Sales Slip 0.5% In January

TOKYO (dpa-AFX) - The value of retail sales in Japan was down a seasonally adjusted 0.5 percent on month in January, the Ministry of Economy, Trade and Industry said on Friday - coming in at 12.097 trillion yen.That beat expectations for a fall of 0.6 percent following the 0.8 percent decline in December.On a yearly basis, retail sales dropped 2.4 percent - again exceeding expectations for a fall of 2.6 percent after the 0.2 percent dip in the previous month.Wholesale sales were up 2.1 percent on month and down 5.3 percent on year at 29.402 trillion yen, while commercial sales rose 0.5 percent on month and sank 4.7 percent on year at 41.499 trillion yen.Copyright RTT News/dpa-AFX
26.02.2021

Japan Industrial Output Climbs 4.2% In January

TOKYO (dpa-AFX) - Industrial production in Japan was up a seasonally adjusted 4.2 percent on month in January, the Ministry of Economy, Trade and Industry said on Friday.That beat expectations for an increase of 4.0 percent following the 1.0 percent decline in December.On a yearly basis, industrial production dropped 5.3 percent - roughly in line with forecasts after slipping 2.6 percent in the previous month.Upon the release of the data, the METI upgraded its assessment of industrial production, saying that it is now picking up.Copyright RTT News/dpa-AFX
26.02.2021
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25.02.2021

Dollar Recovers After Early Weakness

WASHINGTON (dpa-AFX) - The U.S. dollar stayed weak for much of the day's session till well past noon on Thursday, weighed down by the Federal Reserve Chairman Jerome Powell's reiteration that interest rates will remain near-zero level for the foreseeable future. However, the currency found some support past mid afternoon and turned in a mixed performance against other major currencies. A report released by the Labor Department showed initial jobless claims tumbled to 730,000, in the week ended February 20th, a decrease of 111,000 from the previous week's revised level of 841,000.According to a report from the Commerce Department, new orders for U.S. manufactured durable goods spiked by much more than expected in the month of January, soaring 3.4% after jumping by an upwardly revised 1.2% in December.Revised data released by the Commerce Department showed U.S. gross domestic product jumped 4.1% in the fourth quarter, compared to previously reported 4.0% spike.The dollar index, which slid to 89.68, rallied to 90.29 later on, and was last seen at 90.24, up 0.07% from previous close.Against the Euro, the dollar was slightly weak at 1.2176, despite having recovered well from 1.2243 a unit of Euro. Survey results from the European Commission showed that Eurozone economic confidence improved to a one-year high in February on rising sentiment in industry, services and among consumers, reflecting the easing of strict restrictions related to Covid-19 pandemic.The economic sentiment index rose more-than-expected to 93.4 from 91.5 in the previous month. The score was forecast to climb to 92 in FebruaryThe Pound Sterling slid against the greenback, and was fetching $1.4010 a unit, nearly 1% down from previous close of $1.4141. Business optimism improved among U.K. business and professional services in the three months to February, while morale weakened in consumer services, the latest quarterly Service Sector Survey from the Confederation of British Industry showed.The Yen firmed up to 106.24, gaining nearly 0.4%. The AUD-USD was at 0.7878, giving the dollar a gain of about 1.1%.The Swiss franc firmed up to 0.9051 from 0.9065, while the Loonie fell to 1.2606, giving up about 0.75%.Copyright RTT News/dpa-AFX
25.02.2021

Dollar Little Changed After U.S. GDP Data

BRUSSELS (dpa-AFX) - U.S. durable goods orders for January, GDP data for the fourth quarter and weekly jobless claims for the week ended February 20 have been released at 8:30 am ET Thursday. Following these data, the greenback changed little against its major counterparts.The greenback was trading at 106.16 against the yen, 1.2225 against the euro, 1.4141 against the pound and 0.9062 against the franc around 8:32 am ET.Copyright RTT News/dpa-AFX
25.02.2021

Dollar Mixed Ahead Of U.S. GDP Data

BRUSSELS (dpa-AFX) - U.S. durable goods orders for January, GDP data for the fourth quarter and weekly jobless claims for the week ended February 20 are due at 8:30 am ET Thursday. Ahead of these data, the greenback traded mixed against its major counterparts. While it advanced against the yen, it was steady against the rest of major rivals.The greenback was worth 106.16 against the yen, 1.2225 against the euro, 1.4141 against the pound and 0.9062 against the franc as of 8:25 am ET.Copyright RTT News/dpa-AFX
25.02.2021

Euro Little Changed After Eurozone Economic Confidence Index

BRUSSELS (dpa-AFX) - At 5.00 am ET Thursday, the European Commission has released economic and business sentiment survey results. The euro changed little against its major counterparts following the data.The euro was trading at 129.64 against the yen, 1.2221 against the greenback, 0.8627 against the pound and 1.1087 against the franc around 5:05 am ET.Copyright RTT News/dpa-AFX
25.02.2021

Euro Climbs Ahead Of Eurozone Economic Confidence Index

BRUSSELS (dpa-AFX) - At 5.00 am ET Thursday, the European Commission is scheduled to issue economic and business sentiment survey results. The economic sentiment index is expected to rise to 92.0 in February from 91.5 in the previous month. Ahead of the data, the euro rose against its major counterparts. The euro was worth 129.63 against the yen, 1.2220 against the greenback, 0.8622 against the pound and 1.1074 against the franc as of 4:55 am ET.Copyright RTT News/dpa-AFX
25.02.2021

Australian Dollar Rises, U.S. Dollar Falls On Fed Optimism

CANBERA (dpa-AFX) - The Australian dollar climbed against its major counterparts in the Asian session on Thursday, while the U.S. dollar slipped as Fed Chair Jerome Powell's pledge to maintain interest rates lower eased some worries about inflation.In his testimony before the House Financial Services Committee, Powell reiterated that the Fed is in no rush to raise its benchmark short-term interest rates or to start tapering its bond buying programme.Powell reiterated that inflation and employment remain well below the central bank's objectives and would require some time for substantial further progress to be achieved.Promising new data on Johnson & Johnson's coronavirus vaccine and a much bigger than expected jump in new home sales in the U.S. in the month of January also boosted sentiment.U.S. House Democrats gear up for a vote on the $1.9 trillion Biden stimulus package, which includes $1,400 checks to most Americans. However, the plan faces staunch opposition from Republicans and is still subject to negotiations.Investors await economic data on U.S. initial jobless claims, durable goods orders and pending home sales due later in the day. The greenback dropped to 1.4170 against the pound and 0.9056 against the franc, from its early highs of 1.4122 and 0.9075, respectively. The greenback is poised to find support around 1.45 against the pound and 0.90 against the franc.The greenback dipped to more than a 4-week low of 1.2183 against the euro, off its prior high of 1.2156. Against the loonie, the U.S. currency touched 1.2495, its lowest level since February 2018. The greenback is likely to challenge support around 1.24 against the euro and 1.21 against the loonie.The greenback that closed yesterday's deals at 0.7433 against the kiwi weakened to 0.7448. Next key support for the currency is seen around the 0.76 region.In contrast, the greenback remained higher at an 8-day high of 106.14 versus the yen. Immediate resistance for the dollar is found near the 108.00 level.The aussie spiked up to more than 3-year highs of 0.7993 against the greenback and 84.79 against the yen, after falling to 0.7953 and 84.25, respectively in early deals. The aussie is seen finding resistance around 0.82 against the greenback and 86.00 against the yen.The aussie reversed from its early lows of 1.0694 against the kiwi and 0.9951 against the loonie, gaining to 1.0734 and 0.9987, respectively. If the aussie rises further, 1.10 and 1.02 are possibly seen as its next resistance levels against the kiwi and the loonie, respectively.The aussie hovered at 1.5253 against the euro, its biggest level since January 2018. On the upside, 1.50 is possibly seen as its next resistance level.Looking ahead, Eurozone economic confidence index for February is set for release in the European session.U.S. durable goods orders for January, GDP data for the fourth quarter, weekly jobless claims for the week ended February 20 and pending home sales for January will be featured in the New York session.Copyright RTT News/dpa-AFX
25.02.2021

Euro Little Changed After German Gfk Consumer Sentiment Index

BRUSSELS (dpa-AFX) - At 2.00 am ET Thursday, the market research group Gfk has released Germany's consumer sentiment survey results. The euro changed little against its major counterparts following the data.The euro was trading at 128.99 against the yen, 1.2178 against the greenback, 0.8601 against the pound and 1.1035 against the franc around 2:05 am ET.Copyright RTT News/dpa-AFX
25.02.2021

Euro Mixed Ahead Of German Gfk Consumer Sentiment Index

BRUSSELS (dpa-AFX) - At 2.00 am ET Thursday, the market research group Gfk releases Germany's consumer sentiment survey results. The forward-looking index is forecast to rise to -14.3 in March from -15.6 in February. Ahead of the data, the euro traded mixed against its major counterparts. While it advanced against the franc and the greenback, it was steady against the pound and the yen.The euro was worth 129.02 against the yen, 1.2181 against the greenback, 0.8602 against the pound and 1.1036 against the franc as of 1:55 am ET.Copyright RTT News/dpa-AFX
24.02.2021

Dollar Turns Weak Against Most Of Its Peers

WASHINGTON (dpa-AFX) - The U.S. dollar recovered after early weakness on Wednesday but started losing ground past noon, weighed down by remarks by the Federal Reserve Chairman Jerome Powell that interest rates will remain at near-zero levels for the foreseeable future.Powell testified before House Financial Services Committee today, with his prepared remarks mirroring those he delivered before the Senate Banking Committee on Tuesday.The Fed chief also continued to downplay the risks of inflation, which have recently spooked investors and driven treasury yields to their highest levels since the early days of the coronavirus pandemic.Meanwhile, data released by the Commerce Department showed new home sales spiked by 4.3% to an annual rate of 923,000 in January after soaring by 5.5% to a revised rate of 885,000 in December. Economists had expected new home sales to surge up by 1.5 percent to a rate of 855,000 from the 842,000 originally reported for the previous month.The dollar index, which advanced to 90.43 from a low of 89.98, slid to 90.02 by late afternoon, losing about 0.16%.Against the Euro, the dollar weakened to $1.2173, sliding 0.17% from previous close of $1.2152.The Pound Sterling was stronger, fetching $1.4142 a unit, about 0.2% more than Tuesday's close of $1.4114.The Yen weakened to 105.85 a dollar, from 105.25.The Aussie firmed up against the greenback. The AUD-USD pair was quoting at 0.7972, giving the Aussie a gain of nearly 0.8%.The Swiss franc weakened to 0.9065 a dollar, sliding by about 0.15%. The Loonie strengthened to 1.2507 a dollar, gaining nearly 0.7%, as crude oil prices rose sharply.Copyright RTT News/dpa-AFX
24.02.2021

Yen Falls As Powell Promises Fed Support

CANBERA (dpa-AFX) - The Japanese yen slipped against its key counterparts in the European session on Wednesday, as Fed Chair Jerome Powell's pledge to maintain easy policy and positive German data boosted risk sentiment.Recent worries about higher interest rates and inflation eased somewhat after Powell reiterated interest rates will remain at near-zero levels and the Fed will continue its asset purchases at the current rate until 'substantial further progress' has been made toward its goals of maximum employment and price stability.The U.S. economy was 'a long way from our employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved,' Powell said.Powell reiterated that any rise in inflation will likely be transitory and is unlikely to have a persistent effect on the economy.Revised data from Destatis showed that the German economy grew more than initially estimated in the fourth quarter.Gross domestic product grew 0.3 percent sequentially in the fourth quarter instead of 0.1 percent estimated previously. However, this was much slower than the 8.5 percent rebound seen in the third quarter.On a yearly basis, the decline in GDP slowed to 3.7 percent from 4 percent.The yen weakened to a 6-day low of 105.87 against the greenback and more than a 2-year low of 128.75 against the euro, off its early highs of 105.17 and 127.74, respectively. The next possible support for the yen is seen around 108.00 against the greenback and 130.00 against the euro.The yen slipped to a 1-year low of 84.19 against the loonie, more than 2-year lows of 78.16 against the kiwi and 83.82 against the aussie, after rising to 83.52, 77.07 and 83.15, respectively in prior deals. The yen is likely to find support around 86.00 against the loonie, 82.00 against the kiwi and 83.15 against the aussie.The Japanese currency reversed from an early near 2-month high of 116.17 against the franc, falling to 116.77. On the downside, 119.5 is possibly seen as its next support level.The yen held steady against the pound, after having dropped to near a 3-year low of 150.10 at 8:15 pm ET. At Tuesday's close, the pair was worth 148.53.Looking ahead, U.S. new home sales for January will be published in the New York session.At 10:00 am ET, Federal Reserve Chair Jerome Powell is due to testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC.Copyright RTT News/dpa-AFX

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