LIVE – Floor of the NYSE! Jan. 18, 2019 Financial News – Business News – Stock News – Market News



Financial News – Business News – Stock News – Market News – Stock Exchange

CLICK HERE➡ ➡

Business News – Financial News – Stock News — New York Stock Exchange — Market News 2019

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2019

On Monday lower than expected numbers for China’s December exports stoked investors’ fears over a global slowdown. Markets opened lower and never recovered with the Dow Industrials losing 86 points.

On Tuesday the producer price index for December fell .2% and the Empire State manufacturing survey came in at 3.9 compared to its previous level of 11.5. This was much lower than expectations. Markets reacted with disappointment when U.K. politicians voted against Brexit plans of U.K. Prime Minister Theresa May, however, markets liked news that China increased stimulus to juice their economy. The Dow Industrials ended the day 155 points higher.

On Wednesday import prices for December fell 1%, mostly due to cheaper oil, and export prices fell .6%. The housing market index for January rose 2 points to 58 which was higher than expectations, and the EIA petroleum status report for the week ending January 11th showed crude oil inventories fell by 2.7 million barrels. The Fed released their Beige Book for December and January and they described retail sales as growing modestly, which was disappointing for a holiday season. Wage growth was described as flat. Markets closed higher, especially financial stocks, on strong earnings by Goldman Sachs.

On Thursday jobless claims for the week ending January 12th saw claims fall 3,000 to 213,000. Markets rallied on news that the Trump administration is considering reducing some tariffs on Chinese imports to help calm markets and resolve the trade dispute. Ten year Treasuries yielded 2.74% and U.S. crude finished at $52.32 a barrel.

On Friday manufacturing output for December rose a much higher than expected 1.1% and China reportedly offered to dramatically increase imports of U.S. goods. Markets opened very strong on the news. Now let’s take a look at some stocks.

PG&E Corporation (NYSE: PCG) announced on Monday it will prepare to file for bankruptcy after facing billions of dollars in claims over California wildfires. PG&E shares plummeted by 50% during Monday’s pre-market hours. The company said it intends to file its Chapter 11 legal paperwork this January 29th.

Canopy Growth Corporation (NYSE: CGC) announced on Monday that it was granted a license by New York State to produce and process hemp. Canopy is planning to invest between $100 and $150 million in its New York operations. Canopy Growth shares jumped by 11% following the announcement.

Snap Inc. (NYSE: SNAP) shares slipped by 7.5% during Tuesday’s pre-market hours after CFO Tim Stone resigned from the company after serving for less than a year. Along with Stone’s departure, Snap said in the filings that it expects revenue and adjusted EBITDA to be “slightly favorable” to the top end of its previous guidance.

Bank of America Corporation (NYSE: BAC) shares rose by as much as 8% on Wednesday after reporting a record quarterly profit. For the fourth quarter, the bank reported earnings of 73 cents per share on revenue of $22.7 billion. Analysts expected earnings of 63 cents on revenue of $22.4 Billion. The bank’s quarterly profit was $7.3 billion, up 208% year over year.

Netflix, Inc. (NASDAQ: NFLX) reported its fourth quarter financial results that beat subscriber growth and earnings, but missed revenue. The company reported that it added 8.8 million new paying subscribers in the quarter with earnings per share of 30 cents on revenue of $4.19 billion. Analysts forecasted earnings of 24 cents per share.

© 2011 Financial Buzz. All rights reserved. No portion of FinancialBuzz.com may be duplicated, redistributed or manipulated in any form without our consent, violators will be prosecuted to the full extent of the law.

source