With traders digesting a mixed batch of earnings news, stocks are turning in a relatively lackluster performance in mid-day trading on Thursday. The major averages are showing only modest moves after closing mixed in each of the two previous sessions.
Fiat Chrysler Automobiles's US will focus on Jeep SUVs and Ram Pickups and plans to stop producing small passenger cars from early next year. The plan to stop Dart and Chrysler 200 production will be effective by first quarter of 2017.
The new plans are expected to increase profit margins, as SUVs...
Chelsea Clinton has said she would consider meeting with her friend Ivanka Trump to discuss the tone of the presidential campaign. "It's something I would consider," Clinton said. "I think it was clear last week when Ivanka introduced her dad that she's so proud of him."
After closing mixed in each of the two previous sessions, stocks have moved modestly lower in morning trading on Thursday. Selling pressure has remained relatively subdued, however, limiting the downside for the markets.
Royal Bank of Canada got the highest ranking in overall customer satisfaction among the five biggest Canadian banks, according to the results of an annual survey released Thursday. The lender toppled Toronto-Dominion Bank, which had held the top spot for the past ten years.
First-time claims for U.S. unemployment benefits rose by slightly more than expected in the week ended July 23rd, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 266,000, an increase of 14,000 from the previous week's revised level of 252,000.
Republican presidential candidate Donald Trump said he was "being sarcastic" when he called on Russia to find Hillary Clinton's missing emails. Trump made the controversial comment during a news conference Wednesday in Florida.
After showing a lack of direction over the course of the two previous sessions, stocks may continue to experience choppy trading on Thursday. The major index futures are currently pointing to a modestly lower open for the markets, with the Dow futures down by 21 points.
Germany's unemployment declined more-than-expected in July and the jobless rate held steady at the lowest level since reunification, despite heightened uncertainty from "Brexit". Separate official data showed that consumer prices increased for a third straight month in July and at the fastest pace in six months. Both headline inflation and the EU measure rose to 0.4 percent.
Ford Motor Co.(F) reported a profit for the second-quarter that declined 8.8 percent from last year, while total revenue increased about 6 percent. The company now sees risks challenging achieving 2016 guidance.
ConocoPhillips on Thursday reported a loss for the second quarter that widened from last year, reflecting lower revenues and one-time charges. The results for the quarter missed analysts' estimates. However, the company raised its production outlook for the full-year. Like other companies in the oil industry, ConocoPhillips is struggling with lower oil prices.
Bristol-Myers Squibb Co. on Thursday raised its earnings forecast for fiscal 2016 after reporting a significant profit in its second quarter, compared to prior year's loss. The results reflected the absence of prior year's hectic charge as well as strong revenue growth. Earnings per share and top line beat market estimates.
Eurozone economic confidence strengthened unexpectedly in July indicating that the single-currency region shrugged off the negative impact from the "Brexit" vote, while the weakness was evident in the European Union and the U.K.
Early indications suggest that Wall Street stocks may open Thursday's session on a nervous note, as more earnings loom. Most earnings reported after the close on Wednesday were encouraging, with Facebook leading the list of companies releasing stellar results. The jobless claims report is the lone piece of market moving Main Street event for the day.
Swiss banking giant Credit Suisse Group AG (CS) reported Thursday sharply lower profit in its second quarter with charges as well as weak revenues. Sequentially, the company turned around to a profit, compared to loss in the first quarter.