Breaking News
Dec 5, 2022
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The U.S. stock index futures trade lower, European markets turn volatile and China stocks advance after more cities relax lockdown rules.
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China-linked casino stocks jumped between 5% and 10% on the hopes of travel pickup after more Chinese cities ease movement restrictions.
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VF Corp, the parent of Timberland and The North Face, plunged 10% after the company trimmed sales outlook in the second half and announced the resignation of its chief executive.
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The orders for manufactured goods increased 1.0% in October and unfilled orders increased for the 26th month in a row and durable goods orders rose in 12 of the last 13 months.
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Crude oil dropped 3.5% to $77.18 a barrel and natural gas plunged 10% to $5.60 a thermal unit on looming recession worries.
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The S&P 500 index dropped 1.7% and the Nasdaq Composite index declined 1.9% after rate-path worries resurfaced after the release of goods orders and service sector data.
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Gitlab Inc soared more than 20% after the software developer said the fiscal third quarter loss narrowed to 33 cents from 62 cents a year ago and sales rose 69% to $113 million.
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Herbalife Nutrition Ltd plunged 11% after the multi-level marketing company announced an offering of $250 million convertible senior notes due in 2028.
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OPEC+, a group of 23 oil producing nations, confirmed to cut December production by 2 million barrels a day at its monthly meeting on Sunday.
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China and Saudi Arabia are expected to announce a security partnership and arms deal after premier Xi Jinping's visit to Riyadh starting December 7th.
Dec 4, 2022