Friday 25 October 2019

S&P 500 nears record high on trade progress, upbeat Intel earnings

Reuters.com Newsletter

S&P 500 nears record high on trade progress, upbeat Intel earnings

U.S. stocks rose on Friday after Washington said it was close to finalizing parts of a trade pact with Beijing and strong quarterly results from Intel Corp boosted investor sentiment, sending the S&P 500 briefly over the record high close it set three months ago.

UAW will turn to Ford after GM workers approve deal: sources

The United Auto Workers union is set to announce later on Friday it has chosen Ford Motor Co as the next U.S. automaker the union will negotiate with, sources briefed on the matter told Reuters.

Wall Street Weekahead: Bond fund managers see risk Fed cuts rates to zero

Speculation the Federal Reserve will continue cutting interest rates well past its policy meeting next week is pushing some bond fund managers into assets ranging from short-term Treasury bills to half-paid off 15-year home mortgages.

UAW to bargain next with Ford on new contract deal: sources

The United Auto Workers union is set to announce later on Friday it has chosen Ford Motor Co as the next U.S. automaker the union will negotiate with, sources briefed on the matter told Reuters.

What slowdown? China's riding to the rescue of luxury brands

When Tiffany & Co said this month it was sending its priciest jewelry to mainland China to reach wealthy shoppers no longer jet-setting abroad, it reflected a trend helping global luxury brands weather a Chinese economic slowdown.

Exxon Mobil seeks buyer for Montana refinery: sources

Exxon Mobil Corp is seeking a potential buyer for its roughly 60,000 barrel per day Billings, Montana refinery, according to three sources familiar with Exxon's plans.

General Motors strike to dent U.S. October job growth

A strike by General Motors workers should weigh on U.S. job growth in October, government data showed on Friday.

Toyota's not alone in the slow lane to self-driving cars

When Toyota Motor Corp launches its all-battery Lexus next year, the luxury model will be able to drive autonomously on highways, a big step for the Japanese automaker, which has so far trailed rivals in bringing self-driving cars to market.

Indonesia report on 737 MAX crash faults Boeing design, says Lion Air made mistakes

Boeing, acting without adequate oversight from U.S. regulators, failed to grasp risks in the design of cockpit software on its 737 MAX airliner, sowing the seeds for a Lion Air crash that also involved errors by airline workers and crew, Indonesian investigators found.

Global stocks climb on trade talk, earnings news; sterling slips

Global stock indexes were higher on Friday after upbeat news on the trade front and strong results from companies including Intel , while the British pound extended losses from the previous day amid fresh uncertainty around Britain's exit from the European Union.

U.S., China 'close to finalizing' parts of Phase 1 trade pact: USTR

U.S. and Chinese trade officials are "close to finalizing" some parts of an agreement after high-level telephone discussions on Friday, the U.S. Trade Representative's office said, adding that deputy-level talks would proceed "continuously."

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