Gold futures snapped a three-day loss to end higher on Friday, tracking some largely declining global equity markets with investors seeking the precious metal's safe haven appeal, even as the situation in Ukraine continued to escalate.
Although weak global equity markets and short-covering after...
Despite calls from some leading conservatives, the results of a new CNN/ORC International poll released Friday showed that a vast majority of Americans do not believe that President Barack Obama should be impeached and removed from office.
After coming under pressure in early trading, stocks have seen some further downside over the course of the trading day on Friday. With the losses on the day, the S&P 500 is pulling back well off the record closing high that it set in the previous session.
With disappointing earnings news generating some selling pressure, stocks have moved mostly lower in early trading on Friday. The major averages have slid firmly into negative territory after ending the previous session nearly flat.
After reporting an unexpected drop in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than expected in the month of June.
Research-based biopharmaceutical company AbbVie Inc. on Friday reported a 3 percent increase in profit for the second quarter from last year on higher revenues, reflecting strong sales of the company's blockbuster rheumatoid arthritis drug Humira. Both revenue and adjusted earnings per share for the quarter beat analysts' estimates. Tthe company affirmed its earnings outlook for fiscal 2014.
After showing a lack of direction throughout much of the previous session, stocks may move to the downside in early trading on Friday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 23 points.
British economic growth remained high as expected in the second quarter as a robust expansion in the dominant service sector, and industry completely offset the slight weakness in the construction sector. With the second quarter expansion, GDP returned to its pre-crisis level. Gross domestic product grew 0.8 percent sequentially in the second quarter, the same rate as seen in the first quarter.
Credit ratings agency Moody's Corp. reported Friday higher profit in its second quarter, boosted by one-time gain as well as strong revenue growth in revenues. Adjusted earnings per share and top line beat market estimates. Further, the company backed its fiscal 2014 forecast for earnings, while lifted revenue growth view.
Electric utility American Electric Power Co., Inc. reported Friday a profit for the second quarter that grew from last year, reflecting increase in revenues amid rate base growth. Both operating earnings per share and quarterly revenues topped analysts' expectations. The company also reaffirmed its operating earnings forecast for the full-year 2014.
Swiss security products maker Tyco International Ltd. Friday reported a sharp increase in third-quarter profit, as revenues grew with growth across all segments. "The investments we have made to expand our product capabilities, combined with continued improvements in our operational execution, drove a 17% increase in earnings per share before special items in the quarter," said CEO...
German business confidence eased for the third successive month to its lowest level since October, amid rising concerns over the impact of the worsening conflicts in Ukraine and the Middle East on the largest Eurozone economy. The Business Climate Index for industry and trade fell to 108.0 points in July from 109.7 in June, the results of a survey by the Munich-based Ifo Institute showed Friday.
Printer and copier maker Xerox (XRX) Friday said second-quarter profit declined marginally from the prior year, while adjusted earnings were in line with last year. Further, the company raised the lower end of its full year earnings forecast.
UK-based risk and insurance brokerage service provider Aon Plc reported Friday higher profit in its second quarter with a slight increase in revenues. Adjusted earnings per share topped analysts' estimates, while top line missed their view.
Russia's central bank decided to lift its key rate unexpectedly on Friday as geopolitical tensions increased risks of inflation amid rising threats to growth. The Board of Directors of Bank of Russia raised the key rate by 50 basis points to 8 percent. The bank was widely expected to leave rates unchanged. The rate has been hiked by a cumulative 250 basis points since February.