Economic, Commerse and Stock markets | Financial news

Stock futures hit record highs amid retail earnings


U.S. stock index futures rose to record intraday highs on Tuesday as oil prices surged and investors assessed earnings from top U.S. retailers. Wal-Mart's (WMT. N) shares were up 1.5 percent at $70.42 in premarket trading after the world's largest brick-and-mortar retailer reported a higher-than-expected rise in comparable store sales. Home Depot (HD. N) rose 1.63 percent to $145.33 after the home improvement store chain reported better-than-expected results and set a $15 billion buyback program. Macy's (M. N) is scheduled to report before the market opens. Oil prices rose nearly 2 percent after OPEC said the group was hopeful of higher compliance with its deal to cut production. [O/R]Investors will keep an eye on comments from three Federal Reserve officials on Tuesday for more insight into the timing of the next rate hike. The central bank will release the minutes of its latest policy meeting on Wednesday.

The dollar rose 0.5 percent after Cleveland Fed President Loretta Mester said on Sunday that she would be comfortable raising rates if the U.S. economy kept performing. Gold prices fell 0.6 percent. The Dow Jones Industrial Average . DJI marked its seventh-straight record close on Friday. The S&P 500 . SPX and the Nasdaq Composite . IXIC also closed at record levels. Wall Street was closed on Monday for the Presidents Day holiday.

Kraft Heinz (KHC. O) shares fell 4.3 percent on Tuesday after it walked away from its $143 billion offer to buy Unilever (ULVR. L), a day after the Anglo-Dutch company rejected the proposal. Unilever's U.S.-listed shares (UL. N) were down 8.4 percent. Freeport (FCX. N) was down 5 percent at $14.16 after the miner warned on Monday it could take the Indonesian government to arbitration and seek damages over a dispute that has halted operations at a copper mine. Exact Sciences (EXAS. O) rose nearly 6 percent to $21.10 after the diagnostic test maker reported quarterly revenue that beat estimates.

Wells Fargo fund business on the defensive amid sales scandal When a scandal over unauthorized accounts rocked Wells Fargo & Co's retail division last fall, executives at its asset management arm sprang into action to limit its fallout at an already tough time for their business.

Exclusive: Burger King and Tim Hortons owner nears deal to buy Popeyes - sources Restaurant Brands International Inc, owner of the Burger King and Tim Hortons fast-food chains, is nearing a deal to acquire Popeyes Louisiana Kitchen Inc, people familiar with the matter said on Monday.

Toshiba seeks $8.8 billion for chip unit stake as banks fret over risks TOKYO Japan's Toshiba Corp wants to raise at least 1 trillion yen ($8.8 billion) by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the matter said.

Total money market mutual funds rise by $1385 billion in latest week ici


The Investment Company Institute on Thursday issued the following money market mutual fund assets report:"Total money market fund assets1 increased by $13.85 billion to $2.77 trillion for the week ended Wednesday, March 30, the Investment Company Institute reported today. Among taxable money market funds, government funds2 increased by $19.80 billion and prime funds decreased by $2.69 billion. Tax-exempt money market funds decreased by $3.26 billion. this site Assets of retail money market funds decreased by $2.45 billion to $994.45 billion. Among retail funds, government money market fund assets increased by $790 million to $379.84 billion, prime money market fund assets decreased by $1.71 billion to $444.57 billion, and tax-exempt fund assets decreased by $1.53 billion to $170.04 billion. Instthis site Assets of institutional money market funds increased by $16.30 billion to $1.77 trillion. Among institutional funds, government money market fund assets increased by $19.01 billion to $909.92 billion, prime money market fund assets decreased by $980 million to $803.75 billion, and tax-exempt fund assets decreased by $1.73 billion to $57.35 billion.

this site anticipation of the Securities and Exchange Commission’s (SEC) new money market fund regulations, many advisers are changing their prime money market funds into government money market funds. Asa result, there have been, and will continue to be, large shifts in assets from prime funds to government funds before the October 2016 deadline. For more information about the SEC’s new money market fund rules, read our recent ICI Viewpoints. ICI reports money market fund assets to the Federal Reserve each week. Data for previous weeks reflect revisions due to data adjustments, reclassifications, and changes in the number of funds reporting. Weekly money market assets for the last 20 weeks are available on the ICI website.

1 Data for exchange-traded funds (ETFs) and funds that invest primarily in other mutual funds were excluded from the series.2 Government money market funds, formerly referred to as “Treasury (including agency and repo),” are money market funds that invest in cash, securities issued by the U.S. Treasury (including repurchase agreements collateralized fully by U.S. Treasury securities), and securities issued or guaranteed by the U.S. government or its agencies, and repurchase agreements for those securities.

3 ICI classifies funds and share classes as institutional or retail based on language in the fund prospectus. Retail funds are sold primarily to the general public and include funds sold predominantly to employer-sponsored retirement plans and variable annuities. Institutional funds are sold primarily to institutional investors or institutional accounts purchased by or through an institution such as an employer, trustee, or fiduciary on behalf of its clients, employees, or owners. For a detailed description of ICI classifications, please see ICI Open-End Investment Objective Definitions." (Washington newsroom) var $relatedItems = $('lia "/article/us-usa-fed-minutes-idUSKBN14O20D"Fed policymakers agree Trump fiscal boost poses inflation risk/a/lilia "/article/us-usa-stocks-idUSKBN14O1BX"Wall Street climbs; Fed minutes confirm inflation jitters/a/li'), $relatedItems = $relatedItems.slice(0,10), relatedBlockLimit = Number('6'), relatedItemsTotal = $relatedItems.length, $paragraphTags = $('#article-text p'), contentParagraphs = 0, minParagraphs = Number("8"); for (i=0; i $paragraphTags.length; i++) { if ($paragraphTags[i].innerText.trim().length 0) { contentParagraphs = contentParagraphs + 1; } } if (contentParagraphs minParagraphs) { setTimeout(function(){ if (relatedItemsTotal relatedBlockLimit) { $('.first-article-divide').append('div class="related-content group-one"h3 class="related-content-title"Also In Business News/h3ul/ul/div'); $('.second-article-divide').append($('.slider.slider-module')); $('.third-article-divide').append('div class="related-content group-two"h3 class="related-content-title"Also In Business News/h3ul/ul/div'); var median = (relatedItemsTotal / 2); var $relatedContentGroupOne = $('.related-content.group-one ul'); var $relatedContentGroupTwo = $('.related-content.group-two ul'); $.each($relatedItems, function(k,v) { if (k + 1 = median) { $relatedContentGroupOne.append($relatedItems[k]); } else { $relatedContentGroupTwo.append($relatedItems[k]); } }); } else { $('.third-article-divide').append($('div class="related-content group-one"h3 class="related-content-title"Also In Business News/h3ul/ul/div')); $('.related-content ul').append($relatedItems); } },500); } Next In Business News U.S. December auto sales on pace for record high, led by GM DETROIT Sales of new cars and trucks in the United States likely set new records for December and the full year, automakers said on Wednesday, and investors bid up shares in the sector as strong consumer confidence and stable fuel prices bolstered the industry's outlook. Trump's SEC pick Clayton points to capital formation, not enforcement WASHINGTON With his selection of deal-making attorney Walter "Jay" Clayton to head the U.S. Securities and Exchange Commission, President-elect Donald Trump is signaling that the agency will try to reduce regulations that critics see as burdensome or hindering corporate growth. Oil rises 2 percent amid expected draw in U.S. crude inventories NEW YORK Oil prices rose nearly 2 percent on Wednesday on expectations U.S. crude inventories have dropped and on signs that the world's top oil exporters will stick to agreed output cuts that took effect this week. MORE FROM REUTERS window._taboola = window._taboola || []; _taboola.push({ mode: 'organic-thumbnails-a', container: 'taboola-recirc', placement: 'Below Article Thumbnails - Organic', target_type: 'mix' }); Sponsored Content @media(max-this site) { #mod-bizdev-dianomi{ height: 320px; } } From Around the Web Promoted by Taboola window._taboola = window._taboola || []; _taboola.push( { mode: 'thumbnails-3X2', container: 'taboola-below-article-thumbnails', placement: 'Below Article Thumbnails', target_type: 'mix' } ); window._taboola = window._taboola || []; _taboola.push