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Oil Prices Take a Dive on Renewed Demand Concerns in the US and China |
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After a Friday rally fueled by Iraq’s support for OPEC+ oil cuts, oil prices experienced a setback on Monday. Concerns over weakening demand in the United States and China reversed the momentum. Brent crude futures for January dropped 0.4% to $81.08 a barrel, while U.S. West Texas Intermediate (WTI) crude futures for December fell 0.5% to $76.82. Despite gaining nearly 2% on Friday, both benchmarks suffered a 4% loss for the week, marking their third consecutive weekly decline for the first time since May. The U.S. Energy Information Administration’s recent report, revealing a lower-than-expected increase in U.S. crude oil production and a decline in demand, added to the market’s bearish sentiment. China, the world’s largest crude oil importer, contributed to the unease with weak economic data. Furthermore, Chinese refiners sought reduced supply from Saudi Arabia, the world’s leading exporter, for December. These factors combined to cast a shadow on the outlook for oil demand, prompting a retreat in prices. |
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Dow futures down 0.1%, Moody’s downgrades US credit outlook |
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US stock futures experienced marginal decreases during Sunday’s evening trade after Moody’s (NYSE:MCO) Investors Service revised its US credit rating outlook from stable to negative. By 6:55 pm ET (11:55 pm GMT) Dow Jones Futures S&P 500 Futures and Nasdaq 100 Futures fell 0.1% apiece. Ahead in the week, investors will be looking toward key CPI and PPI data, retail sales, business inventories, Philadelphia Fed manufacturing index, industrial production, as well as speeches from Cook, Williams, Goolsbee, Kroszner, Waller, Mester and Daly. Among earnings, companies including Home Depot Inc (NYSE:HD), Walmart Inc (NYSE:WMT), Applied Materials Inc (NASDAQ:AMAT), Warner Music Group (NASDAQ:WMG) and BJs Wholesale Club Holdings Inc (NYSE:BJ). On Friday, the Dow Jones Industrial Average 391.2 points or 1.2% to 34,283.1, the S&P 500 lifted 67.9 points or 0.6% to 4,415.2 and the NASDAQ Composite added 276.7 points or 2.1% to 13,798.1. On the bond markets, United States 10-Year rates were at 4.652%. Source: Investing.com |
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Vyant Bio Spills the Tea on Liquidation Payouts: Brace Yourselves, Shareholders! In a Friday revelation, Vyant Bio, the once-Nasdaq darling turned OTC maverick, spilled the beans on its future liquidation payments to shareholders. The suspense is real, with the projected range dancing between a modest $0.16 and a baller $0.29 per share. Since its Nasdaq exit in May, Vyant has been strutting its stuff over-the-counter, even hosting a yard sale in October where it parted ways with the bulk of its assets. But hold on to your lab coats—Vyant has more in store. They’re planning to drop a Certificate of Dissolution bomb in late December 2023 and, if all goes according to the financial master plan, pop the champagne with the first round of liquidation payments in the glitzy fourth quarter of 2024. Vyant Bio, keeping it real and keeping its investors in the loop during this rollercoaster of corporate drama! |
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Ah, Monday—the day when investors trade their weekend regrets for a fresh batch of market possibilities. It’s like a financial reset button, where we bravely dive into the market seas, hoping the waves of profit wash away the Monday blues. Investing on a Monday is a bit like ordering the special at a restaurant; you never know if it’s going to be a gourmet delight or a questionable decision. But hey, fortune favors the bold, right? So, here’s to a Monday full of stock picks that age like fine wine and not like yesterday’s questionable leftovers! |