Business News Scott Brown

  • July 5- U.S. stocks fell on Friday, retreating from record closing highs, after a strong rebound in U.S. job growth in June dashed hopes of an aggressive interest rate cut by the Federal Reserve this month. Nonfarm payrolls rose by 224,000 jobs last month, the most in five months, the Labor Department data showed. "It is still more likely than not that the Fed will cut...

  • July 5- Wall Street's main indexes were set to open lower on Friday after a strong rebound in U.S. job growth in June dashed hopes of an aggressive interest rate cut by the Federal Reserve this month. Nonfarm payrolls rose by 224,000 jobs last month, the most in five months, the Labor Department data showed. "It is still more likely than not that the Fed will cut rates but...

  • NEW YORK, July 1- Global stocks rose and bonds retreated on Monday as the United States and China agreed to restart trade talks at the G20 summit over the weekend, leading investors to bet that a breakthrough between the world's two largest economies would jumpstart global economic growth. The United States and China agreed on Saturday to resume trade...

  • *Trump says China trade talks' back on track'. July 1- Gains in technology stocks lifted the S&P 500 to a record high on Monday, powered by growing optimism around U.S.- China trade talks and a likely reprieve for Chinese telecoms company Huawei. Trump also offered concessions including no new tariffs and an easing of restrictions on Huawei Technologies Co Ltd,...

  • *Trump says China trade talks' back on track'. July 1- The S&P 500 was on track to hit a record high at the open on Monday, fueled by a revival in trade talks between the United Stated and China and a reprieve to Chinese telecoms company Huawei. President Donald Trump offered concessions including no new tariffs and an easing of restrictions on Huawei Technologies Co...

  • *Array surges nearly 60% after Pfizer's $10.64 bln deal. "I think the focus will be on what the Fed sounds like in the meeting this week," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida. "Jerome Powell has got to be very careful about what he says, and how he frames it because you don't want the market to panic if the Fed's going to be behind the...

  • Crude prices rose as much as 4%, a day after hitting five-month lows, after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes. "There is a positive correlation between stock markets and oil prices which is the day's catalyst," Scott Brown, chief economist at Raymond James in St....

  • Crude prices rose as much as 4%, a day after hitting 5- month lows, after a suspected attack on two tankers in the Gulf of Oman near Iran and the Strait of Hormuz, through which a fifth of global oil consumption passes. "There is a positive correlation between stock markets and oil prices which is the day's catalyst," Scott Brown, chief economist at Raymond James in St....

  • ADP payroll change lowest since March 2010. The data, which comes ahead of a more comprehensive nonfarm payrolls from the Labor Department due on Friday, increased the likelihood that the U.S. central bank would cut interest rates by at least 75 basis points through December. It adds to the case of interest rate cuts, the odds of that happening are going up, "said...

  • *Mexico will begin trade talks with U.S. on Wednesday. Fed Chairman Jerome Powell said on Tuesday the central bank would respond "as appropriate" to risks posed by a global trade war, helping the three main indexes rack up their biggest one-day gains in five months. "There is nothing to suggest that the Fed is going to cut rates anytime soon, but obviously that could...

  • June 4- Wall Street was set to open higher on Tuesday, bouncing back from a selloff in technology stocks a day earlier, after a senior Federal Reserve official pointed the way to a cut in interest rates in response to slowing economic growth. That would provide a fillip to Wall Street, whose three main indexes have shed at least 6% in May following a sudden flare up in...

  • NEW YORK, May 30- World stock markets climbed for the first time this week on Thursday, giving pause to a multiday selloff on fears of an escalating trade war between the United States and China that has pushed investors into safe-haven bonds and the U.S. dollar. "We oppose a trade war but are not afraid of a trade war," Chinese Vice Foreign Minister Zhang Hanhui said on...

  • May 23- Wall Street's main indexes fell more than 1% on Thursday, as technology stocks were hammered by fears that the U.S.- China trade spat could turn into a tech cold war between the two countries. Beijing said Washington needs to correct its "wrong actions" for trade talks to continue after the United States blacklisted Huawei Technology Co Ltd last week.

  • May 15- U.S. stocks fell on Wednesday, as a clutch of weak economic data from the United States and China sparked worries of slowing global growth against the backdrop of a bitter trade dispute that has roiled financial markets. Meanwhile data from China also showed surprisingly weak growth in retail sales and industrial output for April, adding pressure on the...

  • May 15- Wall Street was set to open lower on Wednesday, as a surprise fall in domestic retail sales and underwhelming data from China raised growth concerns, while investors waited for more developments on the U.S.- China trade dispute. Government data showed U.S. retail sales unexpectedly fell in April as motor vehicle purchases slumped, while data from China...

  • April 15- Wall Street was set for a subdued open on Monday after earnings from U.S. lenders Goldman Sachs and Citigroup failed to provide a boost, even as reports suggested of progress in U.S.- China trade talks. Their results come after JPMorgan Chase's upbeat earnings on Friday eased fears that the first-quarter earnings season would slam the brakes on Wall...

  • *Europe climbs, led by FTSE. Oil prices, meanwhile, continued to ascend amid the prospect of tightening supply due to further possible sanctions against Iran and other disruptions. "We had a pretty good rally yesterday and I think part of it was overdone," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

  • *World trade growth expected to slow in 2019- WTO. April 2- U.S. stocks pulled back on Tuesday after a three-day surge, as a profit warning from drugstore chain Walgreens Boots hit the pharma sector, while investors looked for more signs of strength in the economy in the wake of growth worries. A surprise rebound in China's manufacturing data and...

  • April 2- U.S. stocks were set for a mostly flat open on Tuesday, pausing after a three-day surge on Wall Street as investors looked for more signs of strength in the economy in the wake of growth worries. A surprise rebound in China's manufacturing data and better-than-expected U.S. numbers pushed the S&P 500 to near six-month highs on Monday.

  • *Apple supports tech; Financials to snap 5- day losing streak. *All of the major S&P sectors trading higher. March 26- Wall Street's main indexes rose on Tuesday, supported by gains in technology and financial stocks, looking to rebound from declines in the previous two sessions driven by global growth worries.