Price Action West Texas Intermediate crude for November delivery fell 65 cents, or 0.7%, to $85.32 a barrel on the New York Mercantile Exchange. December Brent crude, the global benchmark, was off 51 cents, or 0.6%, at $87.15 a barrel on ICE Futures Europe. Market Drivers Oil futures experienced a second consecutive day of decline following a more than 4% spike on Monday in … [Read more...] about Oil Futures Decline Amid Israel-Gaza Conflict Concerns
Morgan Stanley’s Stock Rating Cut by UBS Analyst
Morgan Stanley's stock took a hit on Wednesday as UBS analyst Brennan Hawken downgraded the megabank's rating from buy to neutral. In addition to the rating cut, Hawken also lowered his target price for Morgan Stanley shares from $110 to $84. This adjustment reflects his belief that the stock is currently fairly priced. Moreover, Hawken reduced his earnings estimate for Morgan … [Read more...] about Morgan Stanley’s Stock Rating Cut by UBS Analyst
Intelligence Failure in Recent Hamas Attack
Texas Representative and House Foreign Affairs Committee Chairman, Michael McCaul, has expressed concern over the recent Hamas attack on Israel and the failure of both U.S. intelligence agencies and Israeli agencies to recognize the attack beforehand. Rep. McCaul disclosed that Egypt had notified the Israelis three days prior about the potential for such an event, indicating … [Read more...] about Intelligence Failure in Recent Hamas Attack
Inflation Shows Signs of Slowing, but Concerns Linger
Economists are predicting that inflation in the United States likely ticked down in September, following a slowdown in gasoline price growth and a decrease in used car costs. However, there are indications that certain categories closely monitored by the Federal Reserve, such as housing and other services, may still exhibit persistent strength. According to consensus … [Read more...] about Inflation Shows Signs of Slowing, but Concerns Linger
N. Brown Group Reports Loss Due to Restructuring Costs and Consumer Behavior
By Najat Kantouar N. Brown Group, the U.K. online retailer, announced a pretax loss for the current period due to restructuring costs and lower online orders. This decline in performance can be attributed to cautious consumer behavior and unseasonable weather conditions. The company reported a pretax loss of £4.1 million ($5 million), reflecting £4.5 million in restructuring … [Read more...] about N. Brown Group Reports Loss Due to Restructuring Costs and Consumer Behavior
