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U.S. Stocks Down Following Release of Manufacturing Data

U.S. stocks backtracked on the gains they made early on Thursday following the release of U.S. manufacturing data. U.S. manufacturing activity in November shrank for the first time in over two and a half years. Despite the easing of inflation and solid consumer spending,...

Saudi Aramco Begins Exploring $1 Billion IPO

Saudi Aramco Base Oil Co., the refining unit of the state-owned Saudi oil company, has begun planning for its initial public offering (IPO) on the Saudi stock exchange. The company has announced that it has hired banks including Citigroup and HSBC Holdings Plc to...

Best Buy Forecasts Better-Than-Expected Sales Ahead of Holiday Season

U.S. retail giant Best Buy announced on Tuesday that it has forecasted a smaller-than-expected drop in sales ahead of the busy holiday season. While the big box store previously forecasted an 11% drop in full-year comparable sales, it now estimates a 10% sales decline. The...

U.S. Natural Gas Futures Fall Following Demand Forecast

U.S. natural gas futures fell by 4% on Wednesday, thereby hitting a two-week low. Front-month gas futures fell 4.1% to $5.785 per million British thermal units—the lowest figure since November 1. This comes after forecasts for less cold weather and lower-than-expected heating demand next week...

Walmart Shares Rise Following Better-Than-Expected Earnings Report

Walmart shares gained 5% in premarket trading on Tuesday after the retail giant forecast a smaller fall in profit than analysts expected. Despite recent price hikes amid the United States inflation struggles, Walmarts' discounts on clothing and electronics have assisted to attract U.S. shoppers...

Futures Decline Ahead of Retail Earnings Announcements

U.S. stock futures started the week lower as investors await the release of earnings from the retail sector. Futures on the S&P 500 fell by 0.3% while futures on the Dow Jones Industrial Average and Nasdaq Composite declined by 0.2% and 0.4% respectively. Such losses...