Prime News: Oil Sinks on Rising U.S. Stockpiles, Elevated OPEC Output

Crude prices edged down after a reported increase in U.S. fuel stockpiles and still elevated inventories from producer cartel OPEC reawakened worries regarding a supply glut in the global market.
Brent crude futures stood at $48.73 per barrel, falling …

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Prime News: U.S. Yields Sharply Drop on Obamacare Repeal Failure

Yields on Treasury notes sharply dropped as investors flocked to the government paper market, driving down the yield on the benchmark 10-year Treasury note to its lowest level in a month amid persisting skepticism regarding U.S. President Donald Trump’…

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Prime News: Gold Prices Steady as Dollar Wavers Near 10-Month Lows

Gold prices were steady early on Wednesday after touching their highest in more than two weeks in the session earlier, supported by the dollar’s weakness as it wavers near ten-month lows.Spot gold rose around 0.1 percent at $1,242.86 an ounce. In the s…

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Prime News: China Boosts Forex Reserves for Fourth Consecutive Month

China increased its holdings of U.S. Treasuries for the fourth month in a row, an indication that the country is rebuilding its forex reserves as the yuan finds its footing.Ranked as the second-biggest holder of Treasuries, China held $1.10 trillion in…

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Prime News: Dollar on Defensive over Health Care Bill Setback

The dollar was on the defensive on Wednesday after tumbling to a 10-month low against a currency basket as Republican failure to proceed with a stalled U.S. healthcare bill raised fears regarding the rest of President Donald Trump’s economic agenda.
Ef…

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Prime News: Goldman Sachs’s Profit Hit by Trading Sump

Goldman Sachs Group Inc.’s once-strong performing bond-trading business reported a weak result for the second consecutive quarter, triggering a selloff in the firm’s shares and increasing skepticism regarding the bank’s strategy.
Goldman reported a 40 …

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Prime News: Bitcoin Rallies after Fixing Cryptocurrency’s Scaling Issue

Bitcoin reversed its losses as miners started using new software that has solved its scaling problem, an issue that has persisted for over two years and has divided parties in the cryptocurrency.
The first party of the debate are miners who launch expe…

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Prime News: IBM Fell Short of Revenue Estimates, Stock Drops

International Business Machines Corp. posted a lower-than-expected quarterly revenue however, it managed to beat earnings estimates. IBM stock fell 2.5 percent on Tuesday.Growth in its higher-margin businesses which include cloud and artificial intelli…

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