Tech Stocks Hanging On To Moderate Gains

Tech Stocks Hanging On To Moderate Gains

Technology stocks were recovering Friday from several days of declines earlier this week, with shares of tech companies in the S&P 500 increasing by nearly 0.4%. In company news, Oracle (ORCL) retreated Friday after the enterprise software firm last night offered up projected revenue growth for its current financial reporting period trailing Wall Street estimates. The company is expecting fiscal Q2 revenue for the three months ending in late November […]

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Yields Remain Elevated but Below Session Highs

Yields Remain Elevated but Below Session Highs

Stocks are stuck in neutral. The 2-year GoC peaked at 1.606% shortly after the first round of U.S. data, quickly pulled back to 1.585% before tracking to the 1.60% area only to slide to 1.595%. The 5-year tested 1.82% before easing to 1.813%, while the 10-year swung from 2.098% to 2.069% then back to 2.097% amid the rounds of U.S. data this morning. The 10-year has slipped to 2.082% currently. […]

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European Equity Benchmarks Close Lower

European Equity Benchmarks Close Lower

The broad-based major European indices closed lower in Friday’s trading session, as financial stocks and mining companies weighed on the markets. In economic news, Eurostat, the statistical office of the European Union, reported that for the euro area, (EA19) exports of goods to the rest of the world in July was EUR177.7 billion ($212.47 billion), an increase of 6.1% compared with July 2016 (EUR167.6 billion). Imports from the rest of […]

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Canaccord Raises Oracle Orice Target to $57 From $56 on “Solid” Earnings Outlook

Canaccord Raises Oracle Orice Target to $57 From $56 on “Solid” Earnings Outlook

Canaccord Genuity reiterated its “buy” recommendation for Oracle (ORCL) and raised its price target to $57 from $56 after the company’s earnings surprised on the upside for the third straight quarter and the brokerage said the earnings outlook was “solid”. “Our view remains unchanged, which is that Oracle is a logical and relatively safer port in a storm that some fear will arrive,” analyst Richard Davis wrote in a note […]

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Bond Prices Mixed, Mostly Lower

Bond Prices Mixed, Mostly Lower

U.S. Treasury prices fell further Friday with the shorter end hit hardest. The 10-year is holding near the technically significant 2.20% point, with a close through that level seen as prompting more selling. The five-year note was flirting with Thursday’s lows which marked levels last seen in mid July. A more hawkish Bank of England tone weighed on prices. Hurricane-affected data were mixed, with soft retail sales and consumer confidence […]

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