US stock future indexes are fractionally higher heading into a three-day weekend. Crude oil prices are back below $50 in early trading on a round of profit taking by investors and with the U.S. dollar perking up. Financial markets in the U.S. will be closed on Monday for the observance of Memorial Day, in honor of men and women who died while serving in the U.S. military.
Here is the current market situation from CNN Money
European markets are lower today with shares in France off the most. The CAC 40 is down 0.34% while Germany's DAX is off 0.17% and London's FTSE 100 is lower by 0.04%.
WASHINGTON (Reuters) - U.S. economic growth slowed in the first quarter although not as sharply as initially thought, amid a surge in spending on home building and a steady increase in inventory investment by businesses.
WASHINGTON (Reuters) - Eight automakers said on Friday they are recalling more than 12 million U.S. vehicles for defective Takata air bags, expanding the largest-ever auto safety push, documents posted by U.S. regulators showed.
(Reuters) - U.S. stock index futures were little changed on Friday as cautious investors braced for a speech by Federal Reserve Chair Janet Yellen and the second reading of gross domestic product data for the first quarter.
KHOBAR, Saudi Arabia (Reuters) - Saudi oil giant Aramco is gaining market share and pushing for greater efficiency, chief executive Amin Nasser said in an interview, as it acts as a "bridge" to a future when the nation relies less on energy exports.
WASHINGTON (Reuters) - U.S. business spending intentions weakened in April for a third straight month amid soft demand for machinery, but a surge in contracts to purchase previously owned homes to a 10-year high supported views economic growth was gaining speed.
SINGAPORE (Reuters) - A former wealth manager of troubled Swiss private bank BSI was denied bail by the Singapore High Court on Friday and will await his trial in prison for two of the nine charges that are part of the city-state's investigations into money laundering.
WASHINGTON (Reuters) - The U.S. Federal Reserve on Thursday continued to lay the groundwork for an interest rate increase in the next two months, with a senior policymaker saying the economy will likely be ready for such a move "fairly soon."
HONG KONG/HELSINKI (Reuters) - China's Zoomlion Heavy Industry Science and Technology Co Ltd has abandoned its $3.4 billion bid for U.S. crane maker Terex Corp after failing to agree terms, clearing the way for a smaller deal between Terex and Finland's Konecranes .
Ever since last September, when we explained that as a result of China's crackdown on capital controls, the one clear winner (in addition to Vancouver real estate) would be bitcoin, the digital currency has more than doubled in dollar terms, rising from $230 and surging as high as $500 a few months later. Overnight bitcoin, which had traded in a stable range with little of its characteristic volatility in recent months, made its latest breakout, surging nearly 5% from a $440-level, to a fresh 2016 high of $480, and has since retracted the move modestly, trading at $475 at last check.
This pushed bitcoin's price to the highest since its sharp breakout in early November, when it breifly topped $500.
The rally started late last night, with bitcoin trading at around $450 when a 30-minute jump saw bitcoin price trading at $461. Before long, bitcoin price was hovering near the $470 mark.
According to Cryptcoinnews, the increase in price can be attributed to the growing demand from the Chinese market, as predicted here almost a year ago when the price was 50% lower, as a result of the recent Yuan devaluation. CCN elaborated on the BTC/CNY exchange charts in yesterday's analy ...
Week 20 of 2016 shows same week total rail traffic (from same week one year ago) declined according to the Association of American Railroads (AAR) traffic data. Month-over-month rolling averages improved (but are still contracting), but longer term averages continued their decline.
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