SINGAPORE – Oil prices dropped for a second straight session on Monday as U.S. producers began restoring output after Hurricane Delta weakened, while a strike that had affected production in Norway came to an end.

Brent crude LCOc1 for December fell 55 cents, or 1.3%, to $42.30 a barrel by 0023 GMT and U.S. West Texas Intermediate CLc1 for November was at $40.08 a barrel, down 52 cents, or 1.3%.

Front-month prices for both contracts gained more than 9% last week, the biggest weekly rise for Brent since June, but fell on Friday after Norwegian oil firms struck a wage bargain with labour union officials, resolving a strike that threatened to cut the country’s oil and gas output by close to 25%.

HURRICANE DELTA ROILS OIL RIGS, SQUEEZES GASOLINE PRICES

“We had good support for both Brent

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(Bloomberg) — Hong Kong’s boom in initial public offerings is set to be prolonged as companies given a boost by the pandemic outbreak follow China’s technology giants in selling shares, the bourse’s head of listings said.



a person sitting on a bench in front of a body of water: Views of Hong Kong as China Law to Establish 'Red Lines' for the City, Adviser Says


© Bloomberg
Views of Hong Kong as China Law to Establish ‘Red Lines’ for the City, Adviser Says

Companies from the technology and biotechnology sectors could continue to fill the IPO pipeline in the near future as Covid-19 has boosted investments in research and development, Hong Kong Exchanges & Clearing Ltd.’s Head of Listing Bonnie Chan said in an interview on Friday.

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“We thought 2020 would be a disappointment, but it has turned out to be a busy year,” Chan, 50, said. “I believe the IPO rush will continue.”

Hong Kong this year has seen a rush of listings from Chinese companies including JD.com Inc. and Netease Inc., which are selling shares

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A month has gone by since the last earnings report for Zumiez (ZUMZ). Shares have added about 24.2% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Zumiez due for a pullback? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.

Zumiez Q2 Earnings Beat, Sales Rise Y/Y, Stock Up

Zumiez Inc. came out with second-quarter fiscal 2020 results, wherein both the top and the bottom lines not only beat the Zacks Consensus Estimate but also improved year over year driven by the gradual reopening of stores. Notably, this specialty retailer of apparel, footwear and accessories swung back to profit, following a loss in the preceding quarter.

Results in Detail

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The forward 4-quarter estimate for the S&P 500 returned to its familiar pattern of sequentially moving higher this week, printing $156.08 vs. $155.98 last week. A small increase – yes – but still sequential improvement

Here is a picture of what the spreadsheet looks like tracking the IBES data by Refinitiv:

What fascinates me is that since July 1, only two weeks of the last 16 have seen sequential declines in the forward estimate.

Geeky data “stuff” but numbers tell a story.

  • The forward 4-quarter estimate improved sequentially to $156.08 from last week’s $155.98.
  • The forward PE is 22x.
  • The S&P 500 forward earnings yield fell a little bit this week to 4.49% from 4.64% last week.
  • The “average” expected calendar 2020 and 2021 S&P 500 EPS growth fell to 3.5% this week, from a long string of 4% prints. Let’s see what the next few weeks hold.
  • The “expected”
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(Reuters) – U.S. stocks rose on Friday and the S&P 500 and Nasdaq registered their biggest weekly percentage gains since July as optimism over more federal fiscal aid grew.

Talks were expected to continue on a COVID-19 stimulus package, even though U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed on Friday to reach agreement.

Mnuchin floated a new proposal Friday afternoon, but an aide for Pelosi said it lacked a broad plan to contain the pandemic.

Recent trading on Wall Street has been dictated by headlines on fiscal aid, with the three main indexes tumbling on Tuesday after U.S. President Donald Trump called off negotiations. He has since indicated he was willing to resume discussions.

“The market’s reacting well to Trump’s sudden turnaround in terms of a support package,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York, New York. “A lot of this

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The outflow from equity schemes of mutual funds continued for the third month in a row in September amid sharp volatility in the capital market.

Though the net outflow from equity mutual fund moderated to ₹734 crore last month against an outflow of ₹4,000 crore logged in August, the sharp run-up in valuation remains a concern for investors.

Multi-cap funds, which have been unsettled by regulatory changes, have seen an outflow of ₹1,144 crore, while large-cap and value funds have witnessed an outflow of ₹576 crore and ₹489 crore, respectively.

The outflow from multi-cap funds since June was further accentuated last month by the new SEBI norms that prescribed an individual cap of 25 per cent each in large-, mid and small-cap stocks.

However, the outflow from equity schemes was moderated with inflow of ₹824 crore and ₹621 crore in focussed, and large- and mid-cap funds, respectively.

Akhil Chaturvedi, Head

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TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Thursday the economy was starting to pick up and was likely to continue recovering thanks in part to the boost from fiscal and monetary stimulus measures.

While consumer prices will fall for the time being due to the impact of slumping oil prices, they are likely to rebound thereafter as the pandemic’s fallout on the economy eases, he said.

“Once the impact of the coronavirus pandemic subsides globally, Japan’s economy is likely to continue improving further as overseas economies resume steady growth,” Kuroda said in a speech to a quarterly meeting of the BOJ’s branch managers.

The upbeat view reinforces market expectations the BOJ will hold off ramping up stimulus for now, and focus on pumping money into the economy with existing lending programmes.

Kuroda said while Japan’s banking system remains stable as a whole, corporate funding conditions remain

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Finance Minister Nirmala Sitharaman on Tuesday sought to allay the fears over MSP (minimum support price) regime and asserted that the three Bills on agriculture reforms would be immensely beneficial to farmers, apart from cutting wastage.

The three Bills on agricultural reforms, passed recently by both the houses of Parliament, were much-awaited ones and will go a long way in helping the farmers get a better price for their produce. It will also help prevent the huge food wastages faced by the country now, she said here while addressing the media.

To a question on whether the new reforms would lead to the abolition of the MSP, she said: “I find that absolutely unreasonable to keep speculating on it and say that this is the concern of the farmer.”

Assurance on MSP

“MSP is there, it was there and it shall continue to be there. Under certain other governments the

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  • President Donald Trump and his staff have misled the American public and one another about the threat posed by the novel coronavirus, undermining trust and threatening lives.
  • Trump is said to have told an advisor not to disclose a positive coronavirus test that came earlier than previously known. His closest allies, including his campaign manager, apparently learned about it only from the news media.
  • Confusion has continued as the president’s health status has largely been obfuscated: his doctors painting a rosy picture while prescribing medication reserved for the sickest patients.
  • Visit Business Insider’s homepage for more stories.

President Donald Trump averages a dozen or so false and misleading claims each day. That was before he was infected with the novel coronavirus. But the brush with a potentially fatal illness has not spurred this head of state or his administration to be any more truthful about COVID-19, this time relating to

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It has been about a month since the last earnings report for Campbell Soup (CPB). Shares have added about 0.6% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Campbell due for a pullback? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.

Campbell Soup Q4 Earnings Beat Estimates, Sales Up Y/Y

Campbell came out with robust fourth-quarter fiscal 2020 results, with earnings and revenues increasing double digits and cruising ahead of the Zacks Consensus Estimate. Results gained from rise in demand across the company’s brands, stemming from increased at-home consumption amid coronavirus.

Moreover, management provided a favorable view for first-quarter fiscal 2021, assuming that demand trends will remain favorable.

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