AirAsia Berhad (5099:KL) to pay at least RM40.6m in uncollected PSC to MAHB unit

AirAsia Berhad (5099:KL) to pay at least RM40.6m in uncollected PSC to MAHB unit

AirAsia Berhad (5099:KL) to pay at least RM40.6m in uncollected PSC to MAHB unit AirAsia will have to pay at least RM40.6 million to Malaysia Airports (Sepang) Sdn Bhd, a subsidiary of Malaysia Airports Holdings Bhd (MAHB), over unpaid passenger service charges (PSC) from July to December last year. This follows the High Court here […]

Shanghai: SSE Composite Index (.SSEC) investors prepared for tepid results from the ongoing earnings season

Shanghai: SSE Composite Index (.SSEC) investors prepared for tepid results from the ongoing earnings season

Shanghai: SSE Composite Index (.SSEC) investors prepared for tepid results from the ongoing earnings season China stocks fell on Thursday as investors prepared for tepid results from the ongoing earnings season, as weak corporate earnings trends in the U.S. underscored the impact of the trade standoff between Beijing and Washington. Shenzhen’s tech-heavy board ChiNext led […]

British Pound: USD/GBP (GBP=X) UK retail sales data revealed that sales unexpectedly rose

British Pound: USD/GBP (GBP=X) UK retail sales data revealed that sales unexpectedly rose

British Pound: USD/GBP (GBP=X) UK retail sales data revealed that sales unexpectedly rose Year-on-year sales jumped from May’s downwardly revised 2.2 per cent to 3.8 per cent, and excluding fuel annual sales rose by 3.6 percent. The Office for National Statistics (ONS) stated: “All four main sectors contributed positively to the amount spend, and all sectors except […]

Euro: USD/EUR (EUR=X) Tightens Ahead Of The Weekend Break

Euro: USD/EUR (EUR=X) Tightens Ahead Of The Weekend Break

Euro: USD/EUR (EUR=X) Tightens Ahead Of The Weekend Break The theme of the week has been “consolidation” on the forex. For the most part, the majors have traded within last week’s FED-fueled ranges, with the EUR/USD being among the most hotly contested. Since the bearish break of Tuesday, rates have rotated between 1.1250 and 1.1201, […]

Japanese Yen: USD/JPY (JPY=X) plenty of reasons to rally

Japanese Yen: USD/JPY (JPY=X) plenty of reasons to rally

Japanese Yen: USD/JPY (JPY=X) plenty of reasons to rally The US dollar has pulled back against the Japanese yen during the trading session on Thursday but has found enough support at the 61.8% Fibonacci retracement level to turn the market back around and show signs of life. At this point, the market looks as if we are […]

Australian Dollar: USD/AUD (AUD=X) faces significant resistance

Australian Dollar: USD/AUD (AUD=X) faces significant resistance

Australian Dollar: USD/AUD (AUD=X) faces significant resistance The Australian dollar rallied a bit during the trading session on Thursday but still faces significant resistance just above. With that being the case it looks as if we are about to take on a serious level in the market that could change things going forward. The Australian […]

Singapore: STI Index (.STI) faces the risk of a technical recession

Singapore: STI Index (.STI) faces the risk of a technical recession

Singapore: STI Index (.STI) faces the risk of a technical recession Investors are sanguine about Singapore’s equity market even as the nation faces the risk of a technical recession, as a positive outlook for dividends and earnings overshadows threats from the U.S.-China trade spat. Singapore’s trade-reliant economy unexpectedly contracted by 3.4% in the June quarter […]

Gold 1 OZ (XAU=X) solid resistance at $1,442.90

Gold 1 OZ (XAU=X) solid resistance at $1,442.90

Gold 1 OZ (XAU=X) solid resistance at $1,442.90 Technically, the gold bulls have the solid overall near-term technical advantage. A seven-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close in August futures above solid resistance at the June high of $1,442.90. Bears’ next near-term […]

Silver 1 OZ 999 NY (XAG=X) prices hit a nearly four-month high

Silver 1 OZ 999 NY (XAG=X) prices hit a nearly four-month high

Silver 1 OZ 999 NY (XAG=X) prices hit a nearly four-month high Gold prices are moderately higher in midday U.S. trading Thursday. August gold futures are poised to close at a five-month high close today. Silver bulls are on a tear this week as prices hit a nearly four-month high. August gold futures were last up $3.80 an […]

Australia: S&P/ASX 200 (.AXJO) shares closed lower after a flat unemployment figure reduced the likelihood of the Reserve Bank of Australia cutting rates

Australia: S&P/ASX 200 (.AXJO) shares closed lower after a flat unemployment figure reduced the likelihood of the Reserve Bank of Australia cutting rates

Australia: S&P/ASX 200 (.AXJO) shares closed lower after a flat unemployment figure reduced the likelihood of the Reserve Bank of Australia cutting rates Australian shares closed lower on Thursday after a flat unemployment figure reduced the likelihood of the Reserve Bank of Australia cutting rates in the short term. The S&P/ASX 200 Index fell 24.2 points, or […]

PayPal Holdings, Inc. (NASDAQ:PYPL) Earnings Expected to Grow

PayPal Holdings, Inc. (NASDAQ:PYPL) Earnings Expected to Grow

PayPal Holdings, Inc. (NASDAQ:PYPL) Earnings Expected to Grow Wall Street expects a year-over-year increase in earnings on higher revenues when Paypal (PYPL) reports results for the quarter ended June 2019. While this widely-known consensus outlook is important in gauging the company’s earnings picture, a powerful factor that could impact its near-term stock price is how […]

Dow Jones Industrial Average (.DJI) investors digesting mixed earnings results and economic data

Dow Jones Industrial Average (.DJI) investors digesting mixed earnings results and economic data

Dow Jones Industrial Average (.DJI) investors digesting mixed earnings results and economic data U.S. stocks ended lower for a second straight session Wednesday as investors digested mixed earnings results and economic data, while a lack of progress on the Beijing-Washington tariff dispute remained a headache. Bank of America BAC, +0.69% reported better-than-expected results after gains in its consumer […]

Tesla, Inc. (NASDAQ:TSLA) slams the auto industry

Tesla, Inc. (NASDAQ:TSLA) slams the auto industry

Tesla, Inc. (NASDAQ:TSLA) slams the auto industry On Tuesday, Musk said in an interview with MotorTrend that the auto industry “is just fairly slow to evolve, and it didn’t take electric vehicles really seriously until 2015, maybe 2014 you could say.” Referring to other automakers’ failures in the electric vehicle space, Musk said that cars other than […]

Alibaba Group Holding Limited (NYSE:BABA) stock bounced back in the last month and it’s just getting started

Alibaba Group Holding Limited (NYSE:BABA) stock bounced back in the last month and it’s just getting started

Alibaba Group Holding Limited (NYSE:BABA) stock bounced back in the last month and it’s just getting started Much of the direction that Alibaba (NYSE: BABA) stock takes depends on the trade talk progress between the U.S. and China. So when the two countries agreed on a temporary truce that would prevent further new tariffs, Alibaba stock bounced. The […]

NASDAQ Composite (.IXIC) falls as CSX results point to damage from trade tensions

NASDAQ Composite (.IXIC) falls as CSX results point to damage from trade tensions

NASDAQ Composite (.IXIC) falls as CSX results point to damage from trade tensions U.S. stock indexes dipped on Wednesday as weak results from CSX Corp stoked concerns that the protracted trade war between the United States and China could hurt corporate earnings. CSX CSX.O shares tumbled 9.9% and were set for their biggest one-day drop […]

Apple Inc. (NASDAQ:AAPL) posted its lowest GDP growth in nearly three decades

Apple Inc. (NASDAQ:AAPL) posted its lowest GDP growth in nearly three decades

Apple Inc. (NASDAQ:AAPL) posted its lowest GDP growth in nearly three decades Amid reports that Apple (NASDAQ: AAPL) is looking to move 15% to 30% of iPhone production out of China due to President Trump’s ongoing trade war, the company is already starting to shift production of other products out of the Middle Kingdom. While Trump’s tariffs are impacting the […]

General Electric Company (NYSE:GE) agreed to sell a majority stake in a solar-energy business to BlackRock

General Electric Company (NYSE:GE) agreed to sell a majority stake in a solar-energy business to BlackRock

General Electric Company (NYSE:GE) agreed to sell a majority stake in a solar-energy business to BlackRock General Electric Co. agreed to sell a majority stake in a solar-energy business to BlackRock Inc., giving the investment giant footing in a growing market as the ailing manufacturer shifts its focus elsewhere. A fund managed by BlackRock’s Real […]

Delta Air Lines, Inc. (NYSE:DAL) caution is advised

Delta Air Lines, Inc. (NYSE:DAL) caution is advised

Delta Air Lines, Inc. (NYSE:DAL) caution is advised With nothing more than a quick glance, Delta Air Lines look like a rocket. A large number of people saw last month’s big move, wanted to plug into it, and fueled even more bullishness with that buying. Volume has been particularly strong of late. Caution is advised […]

Bitcoin: USD/BTC (BTC=X) support at $7,500

Bitcoin: USD/BTC (BTC=X) support at $7,500

Bitcoin: USD/BTC (BTC=X) support at $7,500 History is known to repeat itself in financial markets and the bitcoin market is no exception. The top cryptocurrency now appear to have bottomed out in December 2018 – i.e. a year and a half ahead of the mining reward halving due in May 2020 (reminding the crypto community […]

Bank of America Corporation (NYSE:BAC) expects growth in the face of anticipated interest rate cuts and slowing economic growth

Bank of America Corporation (NYSE:BAC) expects growth in the face of anticipated interest rate cuts and slowing economic growth

Bank of America Corporation (NYSE:BAC) expects growth in the face of anticipated interest rate cuts and slowing economic growth Shares of Bank of America Corp. seesawed toward a gain Wednesday, as the bank lowered its full-year outlook for net interest income, but still expected growth in the face of anticipated interest rate cuts and slowing […]

United States Oil (USO) at two-week lows

United States Oil (USO) at two-week lows

United States Oil (USO) at two-week lows Oil futures marked their lowest finish in roughly two weeks on Wednesday, as U.S. government data revealed that domestic crude supplies fell for a fifth straight week, but the stocks were down by less than the market expected and product inventories climbed. August West Texas Intermediate crude CLQ19, +0.12% shed 84 […]

Ford Motor Company (NYSE:F) Earnings Expected to Grow

Ford Motor Company (NYSE:F) Earnings Expected to Grow

Ford Motor Company (NYSE:F) Earnings Expected to Grow Wall Street expects a year-over-year increase in earnings on lower revenues when Ford (F) reports results for the quarter ended June 2019. While this widely-known consensus outlook is important in gauging the company’s earnings picture, a powerful factor that could impact its near-term stock price is how […]

Longer-term investors should buy Microsoft Corporation (NASDAQ:MSFT) stock on dips

Longer-term investors should buy Microsoft Corporation (NASDAQ:MSFT) stock on dips

Longer-term investors should buy Microsoft Corporation (NASDAQ:MSFT) stock on dips With its 30.5 trailing P/E ratio and its $1 trillion market cap, Microsoft (NASDAQ:MSFT) stock price largely reflects its current two main growth engines: its cloud business and its software-as-a-service offerings. Consequently, investors should not expect MSFT stock to rally tremendously when it reports its fiscal fourth-quarter […]

Hit or miss, come July 25, Alphabet Inc. (NASDAQ:GOOG) worth owning

Hit or miss, come July 25, Alphabet Inc. (NASDAQ:GOOG) worth owning

Hit or miss, come July 25, Alphabet Inc. (NASDAQ:GOOG) worth owning I last wrote about Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) May 1 just after the company reported an earnings miss. Down more than 8% on the news, I recommended investors buy Google stock despite the miss.  Heading into next week’s second-quarter earnings call, I thought I’d revisit some of […]

BlackRock, Inc. (NYSE:BLK) faces intense scrutiny when it reports its second-quarter earnings

BlackRock, Inc. (NYSE:BLK) faces intense scrutiny when it reports its second-quarter earnings

BlackRock, Inc. (NYSE:BLK) faces intense scrutiny when it reports its second-quarter earnings The world’s largest asset manager, BlackRock (NYSE:BLK), faces intense scrutiny when it reports its second-quarter earnings tomorrow. Investors are concerned, and will want to know exactly how the company’s profitability is being affected by slowing growth and price wars. Analysts aren’t upbeat about the near-term […]

The Boeing Company (NYSE:BA) Expected to Beat Earnings Estimates

The Boeing Company (NYSE:BA) Expected to Beat Earnings Estimates

The Boeing Company (NYSE:BA) Expected to Beat Earnings Estimates Wall Street expects a year-over-year decline in earnings on lower revenues when Boeing (BA) reports results for the quarter ended June 2019. While this widely-known consensus outlook is important in gauging the company’s earnings picture, a powerful factor that could impact its near-term stock price is […]

Alcoa Corporation (NYSE:AA) Reports Q2 Loss

Alcoa Corporation (NYSE:AA) Reports Q2 Loss

Alcoa Corporation (NYSE:AA) Reports Q2 Loss Alcoa (AA) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of a loss of $0.34. This compares to earnings of $1.52 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 97.06%. […]

Prime Time for Amazon.com, Inc. (NASDAQ:AMZN)

Prime Time for Amazon.com, Inc. (NASDAQ:AMZN)

Prime Time for Amazon.com, Inc. (NASDAQ:AMZN) AMZN’s earnings report comes soon after its most recent “Prime Day” event that took place July 15-16. The event is designed to spark sales volume during what’s traditionally been a seasonal slow period for the company, and analysts were looking for sales of more than $6 billion associated with […]

Netflix, Inc. (NASDAQ:NFLX) streaming giant missed the forecast for new memberships

Netflix, Inc. (NASDAQ:NFLX) streaming giant missed the forecast for new memberships

Netflix, Inc. (NASDAQ:NFLX) streaming giant missed the forecast for new memberships Netflix (NFLX) has passed the 150 million subscribers mark, but the streaming giant missed the forecast for new memberships. The company added 2.7 million new subscribers in the second quarter of 2019, according to its latest earnings report released Wednesday. That is just over half of […]

Facebook, Inc. (NASDAQ:FB) Reports Next Week

Facebook, Inc. (NASDAQ:FB) Reports Next Week

Facebook, Inc. (NASDAQ:FB) Reports Next Week The market expects Facebook (FB) to deliver a year-over-year increase in earnings on higher revenues when it report s results for the quarter ended June 2019. This widely-known consensus outlook is important in assessing the company’s earnings picture, but a powerful factor that might influence its near-term stock price is […]

MULPHA (MITC:KL) sells Cairns hotel for A$65mil

MULPHA (MITC:KL) sells Cairns hotel for A$65mil

MULPHA (MITC:KL) sells Cairns hotel for A$65mil Mulpha International Bhd is selling a 4-star hotel in Cairns for A$65mil (RM187.9mil). The company, in a filing with Bursa Malaysia today, said its units in Australia have entered into a property and business asset sale agreement with JY Cairns Esplanade Hotel Pty Ltd on July 16 for […]

Broad selling across FTSE Bursa Malaysia (.KLSE), KLCI down 11 points

Broad selling across FTSE Bursa Malaysia (.KLSE), KLCI down 11 points

Broad selling across FTSE Bursa Malaysia (.KLSE), KLCI down 11 points Bursa Malaysia joined its regional peers in negative territory on Wednesday with selling pressure seen across the board. Dealers said market sentiment was curbed by U.S. President Donald Trump’s comments on trade. Investors continued to fret over slowing growth and the impact of the […]

Shanghai: SSE Composite Index (.SSEC) Trump says U.S. could impose more tariffs if needed

Shanghai: SSE Composite Index (.SSEC) Trump says U.S. could impose more tariffs if needed

Shanghai: SSE Composite Index (.SSEC) Trump says U.S. could impose more tariffs if needed Shares in China finished lower in thin trade on Wednesday, extending the previous day’s small losses as investors continued to fret over slowing growth and the impact of the Sino-U.S. trade dispute, and await more signs of support from Beijing. At […]

British Pound: USD/GBP (GBP=X) General Election adds to uncertainty

British Pound: USD/GBP (GBP=X) General Election adds to uncertainty

British Pound: USD/GBP (GBP=X) General Election adds to uncertainty Pound Sterling remains under pressure in mid-week trade with foreign exchange markets digesting the latest political headlines that suggest a General Election is being considered by Boris Johnson. Johnson remains favourite to replace Prime Minister Theresa May new Tuesday when the result of the Conservative Party […]

Euro: USD/EUR (EUR=X) back to 1.1212 support

Euro: USD/EUR (EUR=X) back to 1.1212 support

Euro: USD/EUR (EUR=X) back to 1.1212 support In contrast to the breakdown in GBP/USD looked at above, EUR/USD has seen a more moderate pullback to a prior zone of support. This is the same zone that’s been in-play as both support and resistance since coming back into the equation in November of last year. More recently, […]

Japanese Yen: USD/JPY (JPY=X) turns negative after being unable to break 108.30

Japanese Yen: USD/JPY (JPY=X) turns negative after being unable to break 108.30

Japanese Yen: USD/JPY (JPY=X) turns negative after being unable to break 108.30 The USD/JPY pair dropped below Asian session lows and fell to 108.04. As of writing it was trading at 108.05/10 with the negative tone intact. Earlier today, the pair was unable to break above the 108.30 area that became a strong resistance.  The […]

Hong Kong: HANG SENG INDEX (.HSI) concerns about the China-US trade row and uncertainty over the Federal Reserve’s interest rate plans

Hong Kong: HANG SENG INDEX (.HSI) concerns about the China-US trade row and uncertainty over the Federal Reserve’s interest rate plans

Hong Kong: HANG SENG INDEX (.HSI) concerns about the China-US trade row and uncertainty over the Federal Reserve’s interest rate plans Hong Kong stocks retreated on Wednesday, hit by concerns about the China-US trade row and uncertainty over the Federal Reserve’s interest rate plans. The Hang Seng Index eased 0.1 per cent, or 26.45 points […]

Silver 1 OZ 999 NY (XAG=X) charts that are turning more bullish

Silver 1 OZ 999 NY (XAG=X) charts that are turning more bullish

Silver 1 OZ 999 NY (XAG=X) charts that are turning more bullish Gold and silver prices are solidly higher in midday U.S. trading Wednesday. The two precious metals saw technical buyers pick up the pace today, amid charts that are turning more bullish, especially for silver, which hit a nearly four-month high today. August gold futures were last up $12.90 […]

Gold 1 OZ (XAU=X) scores a bullish “outside day” up on the daily bar chart

Gold 1 OZ (XAU=X) scores a bullish “outside day” up on the daily bar chart

Gold 1 OZ (XAU=X) scores a bullish “outside day” up on the daily bar chart Technically, the gold bulls have the firm overall near-term technical advantage. Prices today scored a bullish “outside day” up on the daily bar chart. A seven-week-old uptrend is in place on the daily bar chart. Bulls’ next upside price objective […]

Australia: S&P/ASX 200 (.AXJO) investors await an indication as to when the Reserve Bank of Australia will next cut rates

Australia: S&P/ASX 200 (.AXJO) investors await an indication as to when the Reserve Bank of Australia will next cut rates

Australia: S&P/ASX 200 (.AXJO) investors await an indication as to when the Reserve Bank of Australia will next cut rates Australian shares ended a quiet day of trading higher on Wednesday as investors await an indication as to when the Reserve Bank of Australia will next cut rates. The S&P/ASX 200 Index firmed 32.3 points, […]

Singapore: STI Index (.STI) economic downturn continues

Singapore: STI Index (.STI) economic downturn continues

Singapore: STI Index (.STI) economic downturn continues Singapore’s exports plunged to a six-year low in June, the latest in a series of brutal indicators showing China’s slowdown and the trade war with the United States are wreaking havoc on the economies of Asia’s trade hubs. The city state’s economy is considered a bellwether for the […]

Alibaba Group Holding Limited (NYSE:BABA) valuation appears to be compelling

Alibaba Group Holding Limited (NYSE:BABA) valuation appears to be compelling

Alibaba Group Holding Limited (NYSE:BABA) valuation appears to be compelling Alibaba’s (NYSE:BABA) stock may be due to increase by 7% or more in the coming weeks based on some recent options bets. Additionally, the technical chart is in agreement with the options betting, also indicating the stock may rise from its current price of approximately […]

Netflix, Inc. (NASDAQ:NFLX) Quarterly Earnings Report In Shifting Streaming Landscape

Netflix, Inc. (NASDAQ:NFLX) Quarterly Earnings Report In Shifting Streaming Landscape

Netflix, Inc. (NASDAQ:NFLX) Quarterly Earnings Report In Shifting Streaming Landscape Netflix will report its second-quarter results Wednesday during a period of dramatic change in the streaming sector, as bulls and bears marshal evidence for their contrasting views of the company’s future. Believers in the long-term viability of Netflix point to its global footprint and programming […]

NASDAQ Composite (.IXIC) Mixed on Earnings and Economic Data

NASDAQ Composite (.IXIC) Mixed on Earnings and Economic Data

NASDAQ Composite (.IXIC) Mixed on Earnings and Economic Data Tuesday’s market is similar to yesterday with the Nasdaq, Dow and S&P-500 little changed, but today the R2K index is 0.55% higher.   Brian’s technical piece below offers some interesting insights into the Russell Index.  Market volumes out of the gate are about 3% stronger than yesterday, but […]

Twitter, Inc. (NYSE:TWTR) crosses above the average analyst 12-month target price

Twitter, Inc. (NYSE:TWTR) crosses above the average analyst 12-month target price

Twitter, Inc. (NYSE:TWTR) crosses above the average analyst 12-month target price In recent trading, shares of Twitter Inc (Symbol: TWTR ) have crossed above the average analyst 12-month target price of $37.89, changing hands for $38.68/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, […]

The Boeing Company (NYSE:BA) secured a modification contract to provide integrated logistics support

The Boeing Company (NYSE:BA) secured a modification contract to provide integrated logistics support

The Boeing Company (NYSE:BA) secured a modification contract to provide integrated logistics support The Boeing Company BA recently secured a modification contract to provide integrated logistics support, product assurance and Longbow Crew Trainers for Apache aircraft. Work related to the deal is scheduled to be completed by Dec 31, 2024. Valued at $96.9 million, the contract […]

Dow Jones Industrial Average (.DJI) has been propelled in large part by the Federal Reserve’s rapid pivot from rate hikes to potential cuts

Dow Jones Industrial Average (.DJI) has been propelled in large part by the Federal Reserve’s rapid pivot from rate hikes to potential cuts

Dow Jones Industrial Average (.DJI) has been propelled in large part by the Federal Reserve’s rapid pivot from rate hikes to potential cuts America’s stock market is on fire, registering its best start to a year since the dotcom bubble days of the late 1990s. The Dow’s ascent above 27,000 has been propelled in large part by the Federal Reserve’s rapid […]

Microsoft Corporation (NASDAQ:MSFT) Q4 2019 Earnings Preview

Microsoft Corporation (NASDAQ:MSFT) Q4 2019 Earnings Preview

Microsoft Corporation (NASDAQ:MSFT) Q4 2019 Earnings Preview Microsoft MSFT stock dipped 1.3% during regular trading Tuesday, but still rests right near its 52-week highs. In fact, MSFT stock has soared 35% in 2019 to easily outpace its industry and the S&P 500. With the tech firm set to release its Q4 fiscal 2019 financial results […]

Apple Inc. (NASDAQ:AAPL) has recently added new Podcasts Mac app, web interface

Apple Inc. (NASDAQ:AAPL) has recently added new Podcasts Mac app, web interface

Apple Inc. (NASDAQ:AAPL) has recently added new Podcasts Mac app, web interface Apple Inc. plans to fund original podcasts that would be exclusive to its audio service, according to people familiar with the matter, increasing its investment in the industry to keep competitors Spotify and Stitcher at bay. Executives at the company have reached out […]

Bitcoin: USD/BTC (BTC=X) Down 26.6% in 7 Days

Bitcoin: USD/BTC (BTC=X) Down 26.6% in 7 Days

Bitcoin: USD/BTC (BTC=X) Down 26.6% in 7 Days Since July 10, the price of Bitcoin (BTC) has fallen from $13,200 to $9,684, with major cryptocurrency exchanges, including Coinbase, recording a 26.6% drop within a period of seven days. The recent pullback of Bitcoin is widely believed to be a technical factor that was pushed by sellers who […]

Amazon.com, Inc. (NASDAQ:AMZN) Stock Is Heading Toward More Consistent Profitability

Amazon.com, Inc. (NASDAQ:AMZN) Stock Is Heading Toward More Consistent Profitability

Amazon.com, Inc. (NASDAQ:AMZN) Stock Is Heading Toward More Consistent Profitability In April, Amazon reported its fourth straight quarter of profits, and the market is rewarding Bezos for delivering on his intention to refocus the company on achieving more consistent profitability. Last year, Amazon’s bottom line surpassed $10 billion for the first time , though AMZN stock had […]

United States Oil (USO) State Secretary Pompeo says Iran is ready to negotiate about its missile program

United States Oil (USO) State Secretary Pompeo says Iran is ready to negotiate about its missile program

United States Oil (USO) State Secretary Pompeo says Iran is ready to negotiate about its missile program Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures were down $2.56 or 3.7% […]

Facebook, Inc. (NASDAQ:FB) Libra Unites Washington

Facebook, Inc. (NASDAQ:FB) Libra Unites Washington

Facebook, Inc. (NASDAQ:FB) Libra Unites Washington Facebook will attend a Senate Banking Committee on cryptocurrencies today, followed by a House Financial Services Committee hearing on Wednesday. That’s on top of a Big Tech antitrust hearing today involving Facebook (FB), Amazon.com (AMZN), Google parent Alphabet (GOOGL) and Apple (AAPL). From President Donald Trump to Fed chief […]

Tesla, Inc. (NASDAQ:TSLA) cut the starting price of the Model 3 sedan in the U.S. weeks after a federal tax credit shrank in half

Tesla, Inc. (NASDAQ:TSLA) cut the starting price of the Model 3 sedan in the U.S. weeks after a federal tax credit shrank in half

Tesla, Inc. (NASDAQ:TSLA) cut the starting price of the Model 3 sedan in the U.S. weeks after a federal tax credit shrank in half Tesla Inc. cut the starting price of the Model 3 sedan in the U.S. weeks after a federal tax credit shrank in half, renewing concern over whether the electric-car maker can […]

Oil Search Limited (OSH:AX) announces new structure to support future growth

Oil Search Limited (OSH:AX) announces new structure to support future growth

Oil Search Limited (OSH:AX) announces new structure to support future growth Oil Search announces a new organisational structure to support its next phase of growth, including the appointment of two senior executives and the creation of a Technology and Value Assurance Group to drive production growth and deliver on major developments in Papua New Guinea […]

Myer Holdings Limited (MYR:AX) to launch an endless aisle of innovation signing Litmus Labs as an exclusive partner

Myer Holdings Limited (MYR:AX) to launch an endless aisle of innovation signing Litmus Labs as an exclusive partner

Myer Holdings Limited (MYR:AX) to launch an endless aisle of innovation signing Litmus Labs as an exclusive partner Myer’s General Manager of Home and Entertainment, Dean Austin, along with Dene and Ashley Heath, from LiTMUS Labs, today announced an exciting new partnership, the first of its kind with a Department store, to bring the most […]

Commonwealth Bank of Australia (CBA:AX) supports Gold Coast Airport to reduce its emissions with Sustainability-Linked debt financing

Commonwealth Bank of Australia (CBA:AX) supports Gold Coast Airport to reduce its emissions with Sustainability-Linked debt financing

Commonwealth Bank of Australia (CBA:AX) supports Gold Coast Airport to reduce its emissions with Sustainability-Linked debt financing The operator of Gold Coast Airport will be incentivised to reduce carbon emissions under an innovative new financing agreement with Commonwealth Bank. Commonwealth Bank has agreed to provide $150 million of debt funding to Queensland Airports Limited (QAL) for […]

BHP to introduce low emissions LNG freight

BHP to introduce low emissions LNG freight

BHP has released the world’s first bulk carrier tender for LNG-fuelled transport for up to 27 million tonnes of its iron ore.  Introducing LNG-fuelled ships into BHP’s maritime supply chain will eliminate NOx (nitrogen oxide) and SOx (sulphur oxide) emissions and significantly reduce CO2 emissions along the busiest bulk transport route globally. Rashpal Bhatti, Vice […]

AirAsia Berhad (5099:KL) Teleport co-invests in EasyParcel

AirAsia Berhad (5099:KL) Teleport co-invests in EasyParcel

AirAsia Berhad (5099:KL) Teleport co-invests in EasyParcel Teleport, the rebranded cargo and logistics platform of Airasia Group Bhd has co-invested equally with Gobi Partners, a venture capital firm of around RM43.8mil (US$10.6mil) in EasyParcel, a regional e-commerce and parcel delivery player, to scale online parcel delivery services.  Teleport is a wholly owned subsidiary of AirAsia Group, […]

Shanghai: SSE Composite Index (.SSEC) upbeat retail sales and factory output numbers pointed to some stabilization

Shanghai: SSE Composite Index (.SSEC) upbeat retail sales and factory output numbers pointed to some stabilization

Shanghai: SSE Composite Index (.SSEC) upbeat retail sales and factory output numbers pointed to some stabilization Chinese shares closed firmer on Monday as China’s upbeat retail sales and factory output numbers pointed to some stabilization, with second-quarter economic data meeting expectations, while technology shares rebounded from previous week’s sharp declines. At the close, the Shanghai […]

Australian Dollar: USD/AUD (AUD=X) feeling pressure from dovish Reserve Bank of Australia minutes of it July monetary policy meeting

Australian Dollar: USD/AUD (AUD=X) feeling pressure from dovish Reserve Bank of Australia minutes of it July monetary policy meeting

Australian Dollar: USD/AUD (AUD=X) feeling pressure from dovish Reserve Bank of Australia minutes of it July monetary policy meeting The Minutes released earlier today from the Reserve Bank of Australia’s last meeting on interest rates on July 2 said the central bank will cut interest rates again, “if needed.” “Lower interest rates would provide more […]

Australia: S&P/ASX 200 (.AXJO) down slightly lower

Australia: S&P/ASX 200 (.AXJO) down slightly lower

Australia: S&P/ASX 200 (.AXJO) down slightly lower The sharemarket closed slightly lower on Tuesday after minutes from the Reserve Bank’s July meeting dampened the equity market’s expectations of further interest rate cuts. Investors also continued to weigh the implications of weak growth but positive retail sales from Chinese economic data released on Monday. The S&P/ASX […]

Silver 1 OZ 999 NY (XAG=X) pushed to a nearly four-month high

Silver 1 OZ 999 NY (XAG=X) pushed to a nearly four-month high

Silver 1 OZ 999 NY (XAG=X) pushed to a nearly four-month high Gold prices are modestly down in midday U.S. trading Tuesday. Some stronger U.S. economic data gave the monetary policy doves some pause on their notions of several interest rate cuts in the coming months. Meantime, silver futures pushed to a nearly four-month high today […]

British Pound: USD/GBP (GBP=X) under pressure

British Pound: USD/GBP (GBP=X) under pressure

British Pound: USD/GBP (GBP=X) under pressure GBP/USD is challenging the 1.2400 figure after the speech of Fed’s Chair Powell. There was no significant reaction in the currency market as Powell essentially didn’t bring anything new to the table. Overall, the bias in prices is: Downwards. By the way, prices are vulnerable to a correction towards […]

Gold 1 OZ (XAU=X) firm overall near-term technical advantage

Gold 1 OZ (XAU=X) firm overall near-term technical advantage

Gold 1 OZ (XAU=X) firm overall near-term technical advantage Technically, August gold futures prices closed nearer the session low. The bulls still have the firm overall near-term technical advantage and are keeping in place a seven-week-old uptrend in place on the daily bar chart. Gold bulls’ next upside near-term price breakout objective is to produce […]

Hong Kong: HANG SENG INDEX (.HSI) market awaits U.S. data

Hong Kong: HANG SENG INDEX (.HSI) market awaits U.S. data

Hong Kong: HANG SENG INDEX (.HSI) market awaits U.S. data Hong Kong stocks ended a tick higher on Tuesday as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world’s biggest economy ahead of a likely U.S. rate cut later this month. Encouraging Chinese June data on Monday had […]

Singapore: STI Index (.STI) trading lower as investors looked to earnings and clues from policy makers for the next catalyst

Singapore: STI Index (.STI) trading lower as investors looked to earnings and clues from policy makers for the next catalyst

Singapore: STI Index (.STI) trading lower as investors looked to earnings and clues from policy makers for the next catalyst Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 10 points at the opening bell. Overseas, most Asian stocks were trading lower as investors looked to earnings […]

Japanese Yen: USD/JPY (JPY=X) breaking above the top of the shooting star

Japanese Yen: USD/JPY (JPY=X) breaking above the top of the shooting star

Japanese Yen: USD/JPY (JPY=X) breaking above the top of the shooting star The US dollar broke higher during the trading session on Tuesday, breaking above the top of the inverted hammer that forms for the Monday session. By doing so, it shows signs of strength and we could very well see this market climb from here […]

Tesla, Inc. (NASDAQ:TSLA) largest outside shareholder is openly advocating for Elon Musk to fine-tune his approach to communicating with the market

Tesla, Inc. (NASDAQ:TSLA) largest outside shareholder is openly advocating for Elon Musk to fine-tune his approach to communicating with the market

Tesla, Inc. (NASDAQ:TSLA) largest outside shareholder is openly advocating for Elon Musk to fine-tune his approach to communicating with the market For the third time in the past year, Tesla Inc.’s largest outside shareholder is openly advocating for Elon Musk to fine-tune his approach to communicating with the market. There’s no need for Musk, an […]

LifeApps Brands Inc. (OTC:LFAP) Weekly Technical Update

LifeApps Brands Inc. (OTC:LFAP) Weekly Technical Update

LifeApps Brands Inc. (OTC:LFAP) Weekly Technical Update Overall, the bias in prices is: Downwards. Note: this chart shows extraordinary price action to the downside. By the way, prices are vulnerable to a correction towards 0.09. The projected upper bound is: 0.10. The projected lower bound is: 0.03. The projected closing price is: 0.07. Candlesticks A […]

Vystar Corporation (OTC:VYST) Weekly Technical Update

Vystar Corporation (OTC:VYST) Weekly Technical Update

Vystar Corporation (OTC:VYST) Weekly Technical Update Overall, the bias in prices is: Downwards. Note: this chart shows extraordinary price action to the downside. By the way, prices are vulnerable to a correction towards 0.04. The projected upper bound is: 0.05. The projected lower bound is: 0.03. The projected closing price is: 0.04. Candlesticks A black […]

Alphabet Inc. (NASDAQ:GOOG) Re-establishing privacy

Alphabet Inc. (NASDAQ:GOOG) Re-establishing privacy

Alphabet Inc. (NASDAQ:GOOG) Re-establishing privacy The biggest challenge in resuscitating privacy isn’t that it’s difficult for consumers to opt out of invasive online services, it’s that it’s nearly impossible for businesses to do so (and I only say “nearly” here by way of a hedge). Case in point: Steve Wozniak’s aforementioned recommendation to leave Facebook was initially […]

United States Oil (USO) makes it to Ukraine in another blow to Moscow

United States Oil (USO) makes it to Ukraine in another blow to Moscow

United States Oil (USO) makes it to Ukraine in another blow to Moscow U.S. crude exports are gaining traction in Europe as even Ukraine turns into a significant consumer of American barrels at the expense of Russian supplies amid heightened U.S. political pressure on Moscow and problems over contaminated Russian oil. Ukraine this month received […]

Apple Inc. (NASDAQ:AAPL) sentiment toward the stock is improving this year

Apple Inc. (NASDAQ:AAPL) sentiment toward the stock is improving this year

Apple Inc. (NASDAQ:AAPL) sentiment toward the stock is improving this year Apple (NASDAQ: AAPL) received a vote of confidence on Wednesday when Evercore ISI analyst Amit Daryanani reaffirmed his outperform rating for the technology giant’s shares. While investors should never rely solely on an analyst recommendation for their investment decisions, Daryanani does have an interesting point about […]

Twitter, Inc. (NYSE:TWTR) suffered a service disruption on Thursday that prevented users from properly accessing its app and website

Twitter, Inc. (NYSE:TWTR) suffered a service disruption on Thursday that prevented users from properly accessing its app and website

Twitter, Inc. (NYSE:TWTR) suffered a service disruption on Thursday that prevented users from properly accessing its app and website Twitter suffered an outage on Thursday that prevented some users from being able to use the social network properly for about an hour. Users who visited the website were greeted with a “Something is technically wrong” […]

NASDAQ Composite (.IXIC) turns negative

NASDAQ Composite (.IXIC) turns negative

NASDAQ Composite (.IXIC) turns negative U.S. stock benchmarks cut solid gains Thursday morning after a tweet from President Donald Trump indicated that trade talks between China and the U.S. may not be making substantial progress. Trump tweeted that China is “letting us down” by not buying U.S. farm products “that they said they would.” Trump’s […]

Facebook, Inc. (NASDAQ:FB) reports quarterly earnings on July 24 after the market closes

Facebook, Inc. (NASDAQ:FB) reports quarterly earnings on July 24 after the market closes

Facebook, Inc. (NASDAQ:FB) reports quarterly earnings on July 24 after the market closes When Facebook (NASDAQ: FB ) reports quarterly earnings on July 24 after the market closes, investors may not want to expect more upside. FB stock already staged a V-shaped recovery that began in May. After bottoming at the 200-day simple moving average on June 1 at […]

Alibaba Group Holding Limited (NYSE:BABA) Outperforming Other Retail-Wholesale Stocks This Year?

Alibaba Group Holding Limited (NYSE:BABA) Outperforming Other Retail-Wholesale Stocks This Year?

Alibaba Group Holding Limited (NYSE:BABA) Outperforming Other Retail-Wholesale Stocks This Year? Investors focused on the Retail-Wholesale space have likely heard of Alibaba Group Holding (BABA), but is the stock performing well in comparison to the rest of its sector peers? Let’s take a closer look at the stock’s year-to-date performance to find out. Alibaba Group […]

Dow Jones Industrial Average (.DJI) record high led by UnitedHealth shares

Dow Jones Industrial Average (.DJI) record high led by UnitedHealth shares

Dow Jones Industrial Average (.DJI) record high led by UnitedHealth shares The Dow Jones Industrial Average rallied to a record high on Thursday, led by UnitedHealth shares, after testimony by Federal Reserve Chair Jerome Powell this week that signaled easier monetary policy could be implemented later this month. The 30-stock average broke above 27,000 for […]

Bitcoin: USD/BTC (BTC=X) price indicator is about to turn bullish

Bitcoin: USD/BTC (BTC=X) price indicator is about to turn bullish

Bitcoin: USD/BTC (BTC=X) price indicator is about to turn bullish A bitcoin price indicator is about to turn bullish for the first time since the early stages of the 2016-17 bull market. The 50-candle moving average (MA) on bitcoin’s three-day chart is in a solid upward trajectory and looks set to cross above the 200-candle […]

Tianci International, Inc. (OTC:CIIT) Weekly Technical Update

Tianci International, Inc. (OTC:CIIT) Weekly Technical Update

Tianci International, Inc. (OTC:CIIT) Weekly Technical Update Overall, the bias in prices is: Upwards. Note: this chart shows extraordinary price action to the upside. The projected upper bound is: 3.55. The projected lower bound is: 1.94. The projected closing price is: 2.75. Candlesticks During the past 10 bars, there have been 4 white candles and […]

Federal National Mortgage Association (OTC:FNMA) Weekly Technical Update

Federal National Mortgage Association (OTC:FNMA) Weekly Technical Update

Federal National Mortgage Association (OTC:FNMA) Weekly Technical Update Overall, the bias in prices is: Upwards. The projected upper bound is: 3.10. The projected lower bound is: 2.56. The projected closing price is: 2.83. Candlesticks During the past 10 bars, there have been 5 white candles and 3 black candles for a net of 2 white […]

FTSE Bursa Malaysia KLCI (.KLSE) recoups earlier losses to end marginally higher

FTSE Bursa Malaysia KLCI (.KLSE) recoups earlier losses to end marginally higher

FTSE Bursa Malaysia KLCI (.KLSE) recoups earlier losses to end marginally higher Bursa Malaysia recouped earlier losses to close marginally higher today, backed by improved buying sentiment in both Shariah and conventional mid-sized capitalisation stocks. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended 0.29 of-a-point higher at 1,679.26 compared with yesterday’s close of […]

Gold 1 OZ (XAU=X) prices glitter after Powell comments

Gold 1 OZ (XAU=X) prices glitter after Powell comments

Gold 1 OZ (XAU=X) prices glitter after Powell comments Gold bulls posed another topside push yesterday on the heels of some dovish comments from FOMC Chair, Jerome Powell. This helped Gold prices to push back above the 1400 marker after a two-week pullback from the fresh six-year-highs that were set in late-June. Yesterday’s risk rally was fairly wide-spread, […]

Silver 1 OZ 999 NY (XAG=X) continue to see a lot of volatility in the overall global markets

Silver 1 OZ 999 NY (XAG=X) continue to see a lot of volatility in the overall global markets

Silver 1 OZ 999 NY (XAG=X) continue to see a lot of volatility in the overall global markets Silver markets went back and forth during the trading session on Thursday, as we continue to see a lot of noise in global markets. Silver of course is highly sensitive to the US dollar which of course has […]

Japanese Yen: USD/JPY (JPY=X) Risk Aviation Causing Losses

Japanese Yen: USD/JPY (JPY=X) Risk Aviation Causing Losses

Japanese Yen: USD/JPY (JPY=X) Risk Aviation Causing Losses Strong signs from the US central bank of a near US interest rate cut contributed to stronger losses for the US dollar against other major currencies. The USD / JPY pair fell back to the support level 107.85 at the time of writing, after its recent gains, which lasted […]

Australian Dollar: USD/AUD (AUD=X) Rises as Fed’s Dovish Signals Continue

Australian Dollar: USD/AUD (AUD=X) Rises as Fed’s Dovish Signals Continue

Australian Dollar: USD/AUD (AUD=X) Rises as Fed’s Dovish Signals Continue Another month of sharp decline in Australian investment lending was not enough to prevent the Australian Dollar to US Dollar (AUD/USD) exchange rate recovering ground this morning. Even though lending saw a -1.7% contraction in May, defying forecasts of modest 0.5% growth, the Australian Dollar […]

Hong Kong: HANG SENG INDEX (.HSI) shares rally on rate cut optimism

Hong Kong: HANG SENG INDEX (.HSI) shares rally on rate cut optimism

Hong Kong: HANG SENG INDEX (.HSI) shares rally on rate cut optimism Hong Kong stocks jumped today, tracking a global advance after congressional testimony by the head of the Federal Reserve all but confirmed the bank will cut interest rates at the end of the month. The Hang Seng Index rose 0.81 per cent, or […]

Euro: USD/EUR (EUR=X) Consolidates Gains Following Dovish Powell Remarks

Euro: USD/EUR (EUR=X) Consolidates Gains Following Dovish Powell Remarks

Euro: USD/EUR (EUR=X) Consolidates Gains Following Dovish Powell Remarks The Euro to US Dollar (EUR/USD) exchange rate remains on the front foot this morning as the ‘Greenback’ continues to grapple with renewed expectations of a rate cut from the Federal Reserve this month. At the time of writing EUR/USD exchange rate is trading just shy […]

Australia: S&P/ASX 200 (.AXJO) higher after dovish comments from Federal Reserve chairman Jerome Powell gave markets renewed hopes of extra policy stimulus

Australia: S&P/ASX 200 (.AXJO) higher after dovish comments from Federal Reserve chairman Jerome Powell gave markets renewed hopes of extra policy stimulus

Australia: S&P/ASX 200 (.AXJO) higher after dovish comments from Federal Reserve chairman Jerome Powell gave markets renewed hopes of extra policy stimulus Australian shares closed Thursday’s trade firmly higher after dovish comments from Federal Reserve chairman Jerome Powell gave markets renewed hopes of extra policy stimulus. The S&P/ASX 200 Index rose 26.3 points, or 0.4 […]

Singapore: STI Index (.STI) shares add 0.3% as Fed chief reaffirms dovish stance

Singapore: STI Index (.STI) shares add 0.3% as Fed chief reaffirms dovish stance

Singapore: STI Index (.STI) shares add 0.3% as Fed chief reaffirms dovish stance The local equities market, like most others, has been in a limbo since last Friday’s US jobs data exceeded expectations, sending investors second-guessing the extent of rate cuts by the US Federal Reserve. On Thursday, they were reassured of the Fed’s dovishness, […]

Shanghai: SSE Composite Index (.SSEC) shares add 0.1%, blue chips close flat

Shanghai: SSE Composite Index (.SSEC) shares add 0.1%, blue chips close flat

Shanghai: SSE Composite Index (.SSEC) shares add 0.1%, blue chips close flat China stocks ticked up on Thursday as global central banks look poised to ease policies, while concerns about a slowdown in the country’s economic growth weighed on investor sentiment. At the close, the Shanghai Composite index was up 0.1% at 2,917.76. The blue-chip […]

British Pound: USD/GBP (GBP=X) Bank of England to cut interest rates in November

British Pound: USD/GBP (GBP=X) Bank of England to cut interest rates in November

British Pound: USD/GBP (GBP=X) Bank of England to cut interest rates in November Pound Sterling put in some gains against the Euro and Dollar on Thursday, July 11 with the currency exploiting a weaker Dollar and Euro, however we maintain a view that the currency will continue to struggle amidst ongoing political uncertainty and growing […]

Apple Inc. (NASDAQ:AAPL) buybacks could be larger than the current Street estimates

Apple Inc. (NASDAQ:AAPL) buybacks could be larger than the current Street estimates

Apple Inc. (NASDAQ:AAPL) buybacks could be larger than the current Street estimates Evercore raises its Apple (AAPL +0.5%) price target from $215 to $217. The firm updates its June quarter model to reflect iPhone units that will likely remain muted, a strengthening commodity price tailwind, China-driven Services acceleration starting this quarter, and stabilizing China demand. Evercore […]

Dow Jones Industrial Average (.DJI) Leap to Records Following Powell’s Comments

Dow Jones Industrial Average (.DJI) Leap to Records Following Powell’s Comments

Dow Jones Industrial Average (.DJI) Leap to Records Following Powell’s Comments U.S. stocks leapt Wednesday after Federal Reserve Chairman Jerome Powell set the stage for the central bank to cut interest rates to bolster flagging growth. The Nasdaq Composite rose 0.75% to close at a record 8202.53. The S&P 500 touched a high during the […]

Tesla, Inc. (NASDAQ:TSLA) Rebound Should Continue

Tesla, Inc. (NASDAQ:TSLA) Rebound Should Continue

Tesla, Inc. (NASDAQ:TSLA) Rebound Should Continue Tesla (NASDAQ: TSLA ) Has had a bumpy road to say the least and Tesla stock has been a lot more unpredictable than any investor wants to see. The stock market is having its best year in over two decades, with the S&P 500 rising 18% through the first six months of the 2019 – […]

Facebook, Inc. (NASDAQ:FB) Crypto Needs Fed Help

Facebook, Inc. (NASDAQ:FB) Crypto Needs Fed Help

Facebook, Inc. (NASDAQ:FB) Crypto Needs Fed Help As mighty as it is, Facebook apparently can’t realize its cryptocurrency dreams alone. In response to questions from the Senate Banking Committee, the social media giant said that its planned Libra cryptocurrency will require the assistance of large public-sector organizations, articles published after market close reported. Facebook wrote […]

NASDAQ Composite (.IXIC) surged to a record high after Federal Reserve Chairman Jerome Powell signalled a willingness to cut interest rates to boost flagging economic growth

NASDAQ Composite (.IXIC) surged to a record high after Federal Reserve Chairman Jerome Powell signalled a willingness to cut interest rates to boost flagging economic growth

NASDAQ Composite (.IXIC) surged to a record high after Federal Reserve Chairman Jerome Powell signalled a willingness to cut interest rates to boost flagging economic growth The tech-heavy Nasdaq Composite surged to a record high Wednesday after Federal Reserve Chairman Jerome Powell signaled a willingness to cut interest rates to boost flagging economic growth. The […]

United States Oil (USO) US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm

United States Oil (USO) US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm

United States Oil (USO) US crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm Oil prices rose 4.5 per cent a barrel on Wednesday to their highest level in more than a month after US crude inventories shrank and as major producers […]

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