|
 Saudi Aramco shares surged the maximum permitted 10% above their initial public offering (IPO) price on their Riyadh stock market debut on Wednesday, closing in on the $2 trillion valuation long sought by Saudi Crown Prince Mohammed bin Salman.
|
|
Oil prices fell on Wednesday after industry data showed an unexpected build in U.S. crude inventories and as investors waited for news on whether a fresh round of U.S. tariffs on Chinese goods would take effect on Sunday.
|
RELATED ARTICLES | | | | |
|
 Developing world stocks inched up on
Wednesday, while currencies trod water ahead of the conclusion
of a U.S. Federal Reserve policy meeting, with uncertainty over
the Sino-U.S. trade war adding to the cautious mood.
|
|
 The U.S. Army is looking to fund construction of rare earths processing facilities, Reuters reported, citing a government document it saw. The report said it would be the first financial investment by the U.S. military into commercial-scale rare earths production since the Manhattan Project. China has threatened to stop exporting rare-earths minerals.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
|
|
* Coming up: U.S. EIA inventory data at 1530 GMT
(Changes dateline to London, updates prices, adds comment,
detail)
|
|
Japanese stocks ended lower on
Wednesday as an approaching deadline for U.S. tariffs on nearly
$160 billion worth of Chinese consumer goods just weeks before
Christmas kept investors away from risk-taking.
|
|
Saudi Aramco will become the world's largest listed company when it debuts on the kingdom's stock exchange on Wednesday, the bourse's chairwoman said.
|
|
 Most Asian stock markets traded higher Wednesday, with investor moods cautiously lifted by a report that U.S. President Donald Trump might delay a weekend tariff hike on $160 billion in Chinese goods.
|
|
Japanese stocks edged lower on
Wednesday as an approaching deadline for U.S. tariffs on nearly
$160 billion worth of Chinese consumer goods just weeks before
Christmas kept investors risk-averse.
|
|
XP Inc. , a provider of brokerage, investment-advisory and asset-management services in Brazil, priced its initial public offering higher than it projected Tuesday evening to pull in almost $2 billion. XP announced that it will sell about 72.5 million shares for $27 apiece, for a total take of $1.98 billion and an initial valuation of $13.75 billion. XP had targeted an IPO price of $22 to $25 a share, according to a filing with the Securities and Exchange Commission. The company is selling about 42.6 million shares, while shareholders are putting up nearly 30 million. Underwriting banks - which includes XP itself - have access to an additional 10.9 million shares from selling shareholders, which could drive the totals higher. XP shares are now expected to begin trading Wednesday morning on the Nasdaq Global Select Market under the ticker symbol XP.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
|
|
Predicting President Trump's next move in the U.S.-China trade war is a difficult task, CNBC's Jim Cramer said. But investors can use that uncertainty to their advantage, the "Mad Money" host says.
|
|
Chevron Corp. said late Tuesday it expects after-tax charges between $10 billion and $11 billion in its fourth-quarter results, more than half related to natural-gas bets in Appalachia. The company held its 2020 capital spending plan at $20 billion for the third year, highlighting its "world-class" oil holdings in West Texas's Permian Basin, deepwater Gulf of Mexico, and in Kazakhstan. The impairment charge is a result of the company's "disciplined approach to capital allocation" and a cut in its commodity prices outlook, Chevron said. As a result, the company will cut funding to several natural-gas projects, including those in Appalachia and international projects such as a liquified natural gas project in Canada. "We believe the best use of our capital is investing in our most advantaged assets," Chief Executive Michael Wirth said in a statement. "With capital discipline and a conservative outlook comes the responsibility to make the tough choices necessary to deliver higher cash returns to our shareholders over the long term." Chevron is evaluating "strategic alternatives" for the natural-gas assets, including selling them, it said. Shares of Chevron fell 0.5% in the extended session after ending the regular trading day up 0.5%. The oil and gas company is expected to post fourth-quarter results in late January.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
|
|
Reports of extension to December 15 deadline temper overall concerns about trade talks
|
|
Asian stocks drifted on Wednesday as Sino-U.S. trade talks showed little progress ahead of a weekend deadline for the imposition of additional U.S. tariffs, and the pound wobbled as opinion polls pointed to a tight British election on Thursday.
|
|
U.S. stocks ended slightly lower for a second day on Tuesday, after erasing earlier gains, as Wall Street weighed U.S-China trade negotiations.
|
|
Private Label