Futures for Canada's main stock index rose on Friday, as oil prices gained on rising Middle East tensions after a key Saudi Arabian supply hub was knocked out in an attack last weekend. Oil prices were on track to jump more than 7% this week, their biggest weekly rise in months. September futures on the S&P/TSX index were up 0.26% at 7:00 a.m. ET. Retail sales data for July is due at 8:30 a.m. ET.
Heavily indebted Lebanon will discuss getting help from Saudi Arabia with its financial situation at a new bilateral council the two countries are setting up, the Lebanese prime minister said on Friday. Work was underway on the new council, and around 19 agreements had been prepared for it, Prime Minister Saad al-Hariri told reporters after a meeting with French President Emmanuel Macron in Paris.
A profit warning and muted outlook from package delivery company FedEx Corp (FDX) is prompting some high-profile fund managers to prepare for the trade war between the United States and China to last longer than many had originally anticipated.
President Donald Trump's barrage of tweets blasting the U.S. Federal Reserve appears to have been ignored by both Republicans and Democrats who largely see the central bank as neutral in its decision making, according to results of a new Reuters Ipsos poll.
* Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr. By Yoruk Bahceli. Most euro zone government bond yields edged down on Friday as fresh frictions in the Middle East and a cut in a key Chinese lending rate bolstered demand for fixed income.
A profit warning and muted outlook from package delivery company FedEx Corp (FDX) is prompting some high-profile fund managers to prepare for the trade war between the United States and China to last longer than many had originally anticipated.
The aviation industry is bracing for double-digit insurance premium hikes for the first time in about 15 years, as insurers wrestle with higher costs from aircraft groundings, including the grounding of Boeing Co's (BA) 737 MAX jets following two fatal crashes, insurance executives said this week.
* Replaces light crude with medium, heavy grades. * Complex refineries in Asia able to adapt quickly. By Florence Tan, Jessica Jaganathan and Jane Chung. State oil giant Saudi Aramco has switched crude grades and pushed back crude and oil products deliveries to customers by days after the attacks on its supply hub severely reduced its light oil production and led to output cuts at its refineries.
* LNG buyers have better chances to get what they want. * Increased spot purchases and short-term contracts. * Not directly affected by rising tension in Middle East. By Yuka Obayashi.
St. Louis Federal Reserve bank president James Bullard said on Friday he argued for a deeper, half a percentage point cut at this week's Fed meeting because of signs the U.S. economy will slow "in the near horizon," and that manufacturing "already appears in recession." The Fed cut rates a quarter of a percentage point at its policy meeting that ended Wednesday.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
