Daily Investor Update: Oil gains while U.S. crude's discount to Brent deepens

Oil gains while U.S. crude's discount to Brent deepens

NEW YORK (Reuters) - Oil prices rose on Monday as OPEC reported that the global oil glut has been virtually eliminated, while U.S. crude's discount to global benchmark Brent widened to more than $7, its deepest in five months.

World stocks rise amid U.S.-China trade hopes; oil gains

NEW YORK (Reuters) - A gauge of stocks around the world reached its highest point in about two months on Monday amid hopes for improving trade relations between the United States and China, while oil prices climbed further.

Tesla CEO Musk tells staff he plans 'thorough reorganization'

(Reuters) - Tesla Inc's chief executive officer told employees on Monday the company is undergoing a "thorough reorganization," as it contends with production problems, senior staff departures and two crashes last week involving its electric, self-driving cars.

U.S. to consider expanding Medicare drug price negotiation

WASHINGTON/NEW YORK (Reuters) - The Trump administration is considering expanding Medicare's ability to negotiate the cost of drugs by giving private payers a role in setting the price of medicines administered in hospitals and doctors' offices, Health and Human Services Secretary Alex Azar said on Monday.

Facebook suspends 200 apps over data misuse investigation

(Reuters) - Facebook Inc has so far suspended around 200 apps in the first stage of its review into apps that had access to large quantities of user data, in a response to a scandal around political consultancy Cambridge Analytica.

Wall St. edges higher on U.S.-China trade optimism

NEW YORK (Reuters) - Wall Street ended a choppy session slightly higher on Monday as weakness in defensive stocks offset trade optimism following U.S. President Donald Trump's conciliatory remarks toward China's ZTE Corp, calming the waters amid U.S.-China trade tensions.

Gaming investors eye jackpot from U.S. sports betting ruling

New York (Reuters) - Shares in gaming and casino companies jumped on Monday, led by Scientific Games Corp , as investors wagered on new business opportunities for the industry after the U.S. Supreme Court paved the way for states to legalize sports betting.

Home Depot well placed to withstand 'Amazon effect,' investors say

NEW YORK (Reuters) - Home Depot Inc shares have climbed with the approach of spring weather, as some investors believe the retailer is well positioned to fend off the competitive threat of online retailers as the peak season for home improvement begins.

U.S. small caps near record highs, outperform larger rivals

SAN FRANCISCO (Reuters) - Wall Street's modestly-sized publicly listed companies are beating out the heavyweights. The Russell 2000 , which tracks U.S. small capitalization companies, on Monday slipped 0.2 percent, but earlier in the session rose to within less than two points of its previous record high of 1,615.5 points.

Russian billionaires take boardroom battle to London High Court

LONDON (Reuters) - Russia tycoon Oleg Deripaska gave evidence in the London High Court on Monday in a case challenging the sale of shares in Norilsk Nickel (Nornickel) by soccer club owner Roman Abramovich.

UPDATE 10-Oil gains while U.S. crude's discount to Brent deepens

* Europe, Asia oppose plans for U.S. sanctions (Recasts throughout, adds comment, updates prices)

Related Videos

Tech can still lead the markets higher, says Jon Maier

CBS sues Redstones over Viacom merger

Looking for more?

Visit our business section for more deals, markets, legal and finance news.

Read more