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S&P 500, Nasdaq slow, Dow captures closing record, gold strikes all-time high
storyp1> NEW YORK, Oct 17 (Reuters) The S&P 500 and the Nasdaq pared their gains to end essentially unchanged on Thursday, while the Dow notched a record closing high as investors parsed a range of blended quarterly profits and absorbed a series of robust financial reports. Gold struck a record high as the safe-haven metal gained from looming U.S. election unpredictabilities. Technology shares . SPLRCT, especially chips . SOX exceeded after Taiwan Semiconductor Production2330. TW, beat incomes estimates and anticipate a dive in fourth-quarter earnings, helping to reduce fears of softening demand in the sector. By far the greatest factor to today's rally is TSMC's upward assistance, which the much-telegraphed semiconductor slowdown related to potential oversaturation of AI is not emerging, at least in their order books, said Michael Green, primary strategist at Simplify Property Management in Philadelphia. So that leadership from the semiconductor area, when it hits the largest-cap business, is going to press the headline indices greater, Green stated. That, and the response to retail sales information, has added support to U.S. stocks, Green included. The S&P 500 closed nominally lower and the Nasdaq ended the session somewhat greater, giving up earlier gains driven by a stronger-than-expected retail sales report, and out of work claims information that landed below financial experts' price quotes. Growth shares . IGX surpassed worth . IVX, while regional banks . KRX led the pack in the wake of upbeat revenues from M&T Bank MTB.N, KeyCorp KEY.N and others. The Dow Jones Industrial Average . DJI rose 161.35 points, or 0.37%, to 43,239.05; the S&P 500 . SPX fell 1.00 point, or 0.02%, to 5,841.47; and the Nasdaq Composite . IXIC increased 6.53 points, or 0.04%, to 18,373.61. European shares rallied, closing within 1% of record high levels after the European Central Bank implemented a broadly expected 25-basis-point interest rate cut, while using little hints concerning its next relocation. The move marked the ECB's third rate cut this year as the reserve bank has moved its focus from reining in inflation to shoring up the EU's sputtering economy. MSCI's gauge of stocks across the globe . MIWD00000PUS increased 0.21 points, or 0.02%, to 852.43. The STOXX 600 . STOXX index increased 0.83%, while Europe's broad FTSEurofirst 300 index . FTEU3 increased 17.82 points, or 0.87%. Emerging market stocks . MSCIEF fell 8.88 points, or 0.78%, to 1,135.16. U.S. Treasury yields gained ground after information suggested the U.S. economy is on strong footing, however left the Fed with sufficient room to move forward on a slower course to lower rates. The yield on benchmark U.S. 10-year notes US10YT=RR increased 8.2 basis points to 4.098%, from 4.016% late on Wednesday. The 30-year bond US30YT=RR yield rose 9.8 basis indicate 4.3972% from 4.299% late on Wednesday. The 2-year note US2YT=RR yield, which usually relocates action with interest rate expectations, rose 4.8 basis points to 3.983%, from 3.935% late on Wednesday. The dollar touched an 11-week high after retail sales information beat expectations, boosting confidence in the health of the U.S. economy. The dollar index =USD, which measures the greenback versus a basket of currencies including the yen and the euro, increased 0.24% to 103.79, with the euro EUR= down 0.3% at $1.0828. Versus the Japanese yen JPY=, the dollar enhanced 0.41% to 150.23. Crude oil prices edged higher as investors managed advancements in the Middle East dispute and falling U.S. inventories with durable financial information. U.S. unrefined CLc1 increased 0.40% to $70.67 a barrel and Brent LCOc1 rose to $74.45 per barrel, up 0.31% on the day. Gold costs hit a record high on firming expectations for additional rate cuts from the Fed and installing unpredictabilities surrounding the Nov. 5 U.S. governmental election. Spot gold XAU= rose 0.7% to $2,691.97 an ounce. World FX rates YTD http://tmsnrt.rs/2egbfVh Asian stock exchange https://tmsnrt.rs/2zpUAr4 World stock indexes https://reut.rs/4f9mWXs(Reporting by Stephen Culp; Additional reporting by Tom Westbrook in Singapore and Alun John in London; Modifying by Nick Zieminski and Jonathan Oatis )To check out Reuters Markets and Financing news, click on https://www.reuters.com/finance/markets. For the state of play of Asian stock exchange please click on: 0 #. INDEXA
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Wall St advances with an increase from chips, gold strikes record high
U.S. stocks followed their European counterparts higher and gold touched an alltime high on Thursday investors parsed an array of blended quarterly revenues and absorbed a series of robust financial reports. Gold struck a record high as the safe-haven metal benefited from looming election unpredictabilities. Technology shares, particularly chips supplied much of the benefit muscle after Taiwan Semiconductor Production, beat earnings estimates and projection a. dive in fourth-quarter income, helping to reduce fears of. softening need in the sector. Without a doubt the most significant factor to today's rally is TSMC's. upward guidance, and that the much-telegraphed semiconductor. downturn connected with prospective oversaturation of AI is not. emerging, a minimum of in their order books, stated Michael Green,. primary strategist at Simplify Possession Management in Philadelphia. So that leadership from the semiconductor space, when. it strikes the largest cap companies, is going to press the heading. indices greater, Green stated. That, and the reaction to retail. sales data, has actually included support to U.S. stocks, Green added. All three major U.S. stock indexes advanced and the dollar. built on current gains after a report from the Commerce. Department revealed stronger-than-expected retail sales, and the. Labor Department's initial unemployed claims information landed listed below. financial experts' estimates. The Dow was on track to notch another all-time closing high. Growth shares were exceeding value, while. local banks were ahead of the pack in the wake of. positive profits from M&T Bank, KeyCorp and others. The Dow Jones Industrial Average increased 152.46 points,. or 0.35%, to 43,229.15, the S&P 500 increased 4.07 points, or. 0.07%, to 5,846.34 and the Nasdaq Composite rose 32.63. points, or 0.18%, to 18,399.71. European shares rallied, closing within 1% of record high. levels after the European Central Bank (ECB) carried out a. broadly expected 25-basis-point rate cut, while offering scant. clues concerning its next relocation. The move marked the ECB's third rate cut this year as the. reserve bank has actually moved its focus from reining in inflation to. fortifying the EU's sputtering economy. MSCI's gauge of stocks across the globe rose. 0.21 points, or 0.02%, to 852.43. The STOXX 600 index. rose 0.83%, while Europe's broad FTSEurofirst 300 index. rose 17.82 points, or 0.87%. Emerging market stocks. fell 8.88 points, or 0.78%, to 1,135.16. U.S. Treasury yields picked up speed after data suggested the. U.S. economy is on strong footing, however left the Fed with enough. room to progress on a slower path to lower rates. The yield on benchmark U.S. 10-year notes. rose 7.7 basis indicate 4.093%, from 4.016% late on Wednesday. The 30-year bond yield rose 9.3 basis points to. 4.3924% from 4.299% late on Wednesday. The 2-year note yield, which usually relocates. action with rate of interest expectations, rose 4.3 basis indicate. 3.978%, from 3.935% late on Wednesday. The dollar touched an 11-week high after retail sales information. beat expectations, enhancing confidence in the health of the U.S. economy. The dollar index, which measures the greenback. against a basket of currencies consisting of the yen and the euro,. rose 0.24% to 103.79, with the euro down 0.3% at $1.0828. Versus the Japanese yen, the dollar enhanced. 0.39% to 150.21. Petroleum prices edged higher as investors managed. developments in the Middle East dispute and falling U.S. stocks with tough economic data. U.S. crude increased 0.40% to $70.67 a barrel and Brent. rose to $74.45 per barrel, up 0.31% on the day. Gold costs hit a record high on firming expectations for. extra rate cuts from the Federal Reserve and installing. unpredictabilities surrounding the approaching U.S. governmental. election. Area gold increased 0.65% to $2,690.54 an ounce.
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Mining associations unveil effort to streamline sector's ESG requirements
Mining associations, whose members or individuals include practically 100 business, have released a 60-day public assessment on a programme focused on providing a combined requirement for the sector's environment, social problems and governance (ESG). Companies around the globe have actually been under increasing pressure from investors and consumers to fulfill stricter ESG standards. Other groups that set ecological and social standards include the Effort for Accountable Mining Guarantee. The new program, called the Consolidated Mining Standard Initiative, aims to simplify the existing mining requirements, making them relevant to any production center devoted to ESG, and unite a broader series of mining business, its developers stated in a declaration. The program is led among others by the Copper Mark, a. voluntary international program created in 2019 in line with the United. Nations Sustainable Advancement Goals to promote responsible. practices in the copper, molybdenum, nickel and zinc production. chains. It likewise includes the Mining Association of Canada and the. International Council on Mining and Metals, whose members are. significant metals and mining groups, and the World Gold Council, an. market body organizing international gold miners. When settled, the standard is expected to be utilized by. members of these three associations and participants of the. Copper Mark for accountable production, sourcing and recycling. of metals. This broad adoption would provide the Requirement the best. coverage of any voluntary mining standard to date with. execution anticipated to include nearly 100 mining. companies across roughly 600 operations in around 60. countries, the declaration said. The Copper Mark, according to the declaration, will develop. into an independent entity overseeing upkeep of the. program topic to the very first consultation, running until Dec. 16, and another much shorter assessment in 2025.
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UK's Mothercare partners with Reliance to strengthen South Asia presence
Mothercare formed a joint endeavor with Dependence Brands Holding UK, enhancing its existence in the South Asian area, and said it re-financed its existing debt centers with Gordon Brothers. Reliance Brands, an unit of Dependence Industries Ltd. , got a 51% stake in the JV that owns the. Mothercare brand name and associated copyright in India,. Nepal, Sri Lanka, Bhutan and Bangladesh for 16 million pounds. ($ 21 million), with Mothercare keeping the staying 49%. Earlier in September, Dependence partnered with Israeli. innerwear maker Delta Galil as part of its expansion in India's. garments market, aiming to double its retail organization within the. next 3 to 4 years. Mothercare stated on Thursday it also secured new financial obligation. centers of 8 million pounds, assisting the London-listed. business decrease its financial obligation. Decrease in the required facility size, funded by the. development of the joint endeavor, and the resulting considerably. minimized money interest expense, greatly improves our versatility for. FY25 and beyond, Clive Whiley, chairman of Mothercare, stated in. a declaration.
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Hurricane-related IV fluid shortage might harm medical gadget makers
A shortage of intravenous (IV) saline fluids due to Typhoon Helene is forcing health centers to defer nonurgent surgical treatments, and could hurt business that make medical gadgets for elective procedures if the supply crunch continues, analysts said. Baxter International's North Carolina plant, which makes 60% of the country's supply of IV fluids and some secret dialysis services, was closed for production late last month due to hurricane-related flooding. Ever since, health centers have actually delayed optional surgical treatments even as the U.S. federal government, Baxter and other suppliers have actually rushed to bring in supplies from other centers, including from overseas. Baxter has stated it anticipates to meet 90% of customer requirements by year end. The huge concern for medical device makers is how quickly the scarcity can be dealt with, said Barclays analyst Matt Miksic in an interview. If solved soon, whatever gets pushed out of this quarter will likely get gotten the following quarter in terms of postponed surgeries, stated Miksic. We would not anticipate at this point (a) significant. sustaining impact on the stocks. J&J ended up being the first medical device business to flag a. possible hit on Tuesday, when it alerted that the IV saline. scarcities might affect surgical procedures throughout its portfolio. if they continue. Throughout a surgery, patients are administered a normal saline. solution or a type of IV fluid called Lactated Ringer's to. replenish lost fluids. Germany's Fresenius and medtech business B. Braun Medical. said last week they were increase production of IV fluids to. reduce the scarcity. Gadget makers including Boston Scientific, Edwards. Lifesciences, Medtronic and Stryker, and. health center operators such as HCA Health Care and Tenet. Health care are most likely to deal with questions about the. prospective effect from the lack when they report revenues in. the coming weeks. Baxter is expected to report its quarterly earnings on Nov. 8. Considered that the scarcity is not anticipated to last too long,. the impact on health center operators and other providers ought to be. modest in the 4th quarter, Jefferies analyst Brian Tanquilut. stated in a Wednesday research note. Morningstar analyst Julie Utterback said the recent storms. could be a short-term concern for HCA, and do not normally. change the long-lasting outlook for such health center operators.
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Colombia mining group cautions government decree puts sector at danger
Colombia's mining association cautioned on Thursday that the sector was at risk of being disabled by legal uncertainty, after a government decree released this year gave authorities the capability to develop socalled temporary ecological zones. The decree allows Colombia's environment ministry to declare areas as natural deposit reserve zones for a five-year duration, which can be restored. All mining is at danger of being paralyzed, Juan Camilo Narino, head of the Colombian Mining Association, stated at a. press conference. No one is going to invest with this much. uncertainty. One of the first regions which might be put under the scheme. is the Santurban high altitude wetland in the department of. Santander, Narino stated, where firms are interested in gold. exploration activities and where artisanal miners are already. present. Environment Minister Susana Muhamad does not want to. completely halt mining, Narino stated, however is looking to decrease. the risks to plants, fauna and water sources. Colombia is an important producer and exporter of thermal. coal and gold, and is looking to increase exploration efforts for. metals like copper. The South American nation's mining sector is an important. generator of foreign currency, taxes and royalties. Last year, the sector paid the state 17 billion pesos ($ 3.99. billion) in taxes and royalties, Narino stated. He cautioned of a drop in foreign financial investment and lower output. by miners this year as an outcome of the government procedure. The sector simply requires clarity, he said, adding the legal. uncertainty was intensified by insecurity brought on by prohibited armed. groups and regular demonstrations by local neighborhoods who oppose. mining jobs or who are looking for a share of investments.
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Rains might have come too late for Brazil's coffee
Rain is falling across the coffee growing regions of top producer Brazil after among the driest durations on record, but it may be too late for trees to fully recuperate before the new crop is collected, state farmers and specialists. Coffee prices have repeatedly hit multi-year peaks over the past two years, driving up the expense to customers worldwide and requiring some roasters to alter blends and lower the quality of the coffee they sell. Production issues in Brazil and Asia due to the fact that of unfavorable climate conditions have meant supply has lagged need for three years. If the next crop in Brazil can be found in below prospective, international materials may again can be found in listed below demand. Next crop won't be huge, we can already expect losses, said Alysson Fagundes, an agronomist at coffee research study organization Fundacao Procafe in Minas Gerais, the leading Brazilian coffee-growing state. Farmers and agronomists in Brazil say the 2025 crop will be troublesome even if the rains lead to a great flowering in the coming weeks. Procafe gathers information on the state of coffee fields in Minas Gerais. It said that at the end of September soils in the southern part of the state - the main coffee area - were doing not have 250 millimeters (9.84 inches) of water when compared to ideal levels. That was the second largest oil wetness shortfall on record. Coffee trees that have actually experienced the dryness would have to utilize energy - once the rains return - to produce leaves, rather of fruits, according to agronomists. That suggests the opportunity of a great fruit load following the flowering is little. Trees lost too many leaves, stated Jonas Ferraresso, an agronomist who recommends coffee farms in Minas Gerais and Sao Paulo states. They will hardly have enough energy to establish fruits after the blooming. Lots of farmers in the state of Sao Paulo decided to prune trees, since they remained in such bad condition, coffee grower Osmar Junior told Reuters. Farmers utilize the strategy to stimulate the healing of the plant, however that means the trees will not produce beans in the first year after pruning, only returning to production in 2026, said the farmer. The crops remain in the intensive care system, Junior stated. Before they start producing, they will first need to be released from the hospital. WATERING FAILING The historic Brazil drought hurt even farmers utilizing irrigation systems, considering that many water streams went dry. I have irrigation, however I have no water, said grower Mario Alvarenga, who owns 2 farms in the Cerrado Mineiro area. His system failed to gather water from a neighboring stream. In some days I might utilize irrigation for a number of hours ... then it entirely quit working. Alvarenga stated he produced 10% less in 2024, and estimates a. comparable fall in production for 2025. If precipitation go back to typical levels from now on,. the trees would recover, said some traders. Many people have lowered their crop forecasts for next. year, but not by much, said a European coffee trader. By all. accounts it is still going to be a quite decent crop, he. included, although he still expects supply to lag need next year. Coffee trees are resilient and can recover if the environment is. favorable, said another European analyst working for a large. trade home. The trees look bad, so one can make some assumptions. However. they can bounce back, he said.
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Wall St follows European shares higher after solid retail sales information
storyp1> NEW YORK, Oct 17 (Reuters) U.S. stocks followed their European equivalents higher on Thursday as investors parsed a variety of blended quarterly profits and digested a series of robust financial reports. All 3 major U.S. stock indexes advanced in early trading and the dollar developed on recent gains after a report from the Commerce Department showed stronger-than-expected retail sales, and the Labor Department's preliminary unemployed claims information landed listed below economists' estimates. The S&P 500 and the Dow continue to hover close to their current record closing highs. Gold hit a record high as the safe-haven metal gained from looming election uncertainties. Innovation shares . SPLRCT, especially chips . SOX provided much of the benefit muscle after Taiwan Semiconductor Manufacturing2330. TW, beat earnings quotes and forecast a dive in fourth-quarter profits, assisting to relieve worries of softening need in the sector. You have this schizophrenic behavior towards chips today, said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. We had ASML's frustrating assistance which drove a sharp decrease. But then you have TSM coming out and beating price quotes and that's a sign of what takes place throughout incomes season where even within hot sectors you've got winners and losers and the marketplace's going to respond to those specific profits on that particular day, Carlson included. Development shares . IGX were exceeding worth . IVX, while regional banks . KRX led the pack in the wake of upbeat earnings from M&T Bank, KeyCorp and others. The Dow Jones Industrial Average . DJI increased 125.86 points, or 0.29%, to 43,203.56, the S&P 500 . SPX increased 10.98 points, or 0.19%, to 5,853.45 and the Nasdaq Composite . IXIC rose 49.74 points, or 0.27%, to 18,416.82. European shares held onto previous gains after the European Central Bank (ECB) carried out a broadly anticipated 25-basis-point rate cut, while providing scant hints concerning its next move. The relocation marked the ECB's 3rd rate cut this year as the central bank has actually shifted its focus from checking inflation to fortifying the EU's sputtering economy. MSCI's gauge of stocks around the world . MIWD00000PUS rose 0.85 points, or 0.08%, to 853.07. The STOXX 600 . STOXX index increased 0.9%, while Europe's broad FTSEurofirst 300 index . FTEU3 rose 19.77 points, or 0.96%. Emerging market stocks . MSCIEF fell 8.89 points, or 0.78%, to 1,135.15. MSCI's broadest index of Asia-Pacific shares outside Japan . MIAPJ0000PUS closed lower by 0.44%, to 601.64, while Japan's Nikkei . N225 fell 269.11 points, or 0.69%, to 38,911.19. U.S. Treasury yields gained ground after information recommended the U.S. economy is on solid footing, but left the Fed with sufficient room to progress on a slower course to lower rates. The yield on benchmark U.S. 10-year notes US10YT=RR increased 7.5 basis indicate 4.091%, from 4.016% late on Wednesday. The 30-year bond US30YT=RR yield increased 8.2 basis indicate 4.3808% from 4.299% late on Wednesday. The 2-year note US2YT=RR yield, which generally relocates step with rate of interest expectations, rose 5 basis points to 3.985%, from 3.935% late on Wednesday. The dollar touched an 11-week high after retail sales data beat expectations, increasing self-confidence in the health of the U.S. economy. The dollar index =USD, which determines the greenback against a basket of currencies including the yen and the euro, increased 0.25% to 103.80, with the euro EUR= down 0.36% at $1.0822. Against the Japanese yen JPY=, the dollar reinforced 0.27% to 150.02. Crude oil rates rose, breaking a current losing streak as consistent worries over softening need were tempered by robust U.S. economic data. U.S. unrefined CLc1 increased 0.4% to $70.67 a barrel and Brent LCOc1 rose to $74.33 per barrel, up 0.15% on the day. Gold costs hit a record high on firming expectations for additional rate cuts from the Federal Reserve and installing uncertainties surrounding the approaching U.S. presidential election. Spot gold XAU= increased 0.84% to $2,695.58 an ounce. World FX rates YTD http://tmsnrt.rs/2egbfVh Asian stock markets https://tmsnrt.rs/2zpUAr4 World stock indexes https://reut.rs/4f9mWXs(Reporting by Stephen Culp; Extra reporting by Tom Westbrook in Singapore and Alun John in London)To check out Reuters Markets and Financing news, click https://www.reuters.com/finance/markets. For the state of play of Asian stock markets please click: 0 #. INDEXA
Israeli ministers are told Sinwar highly likely dead, 2 authorities state
storyp1> JERUSALEM, Oct 17 (Reuters) Israeli ministers have actually been informed that Hamas leader Yahya Sinwar has most likely been killed by Israeli soldiers who were carrying out an operation in southern Gaza, two officials with knowledge of the situation said.
Israeli broadcasters priced quote unnamed authorities as stating Sinwar, the architect of the devastating attack on Israel last October that triggered the Gaza war, was dead.
There was no immediate verification from the military, which earlier stated it was examining the possibility that Sinwar, Israel's most desired enemy, was amongst three militants eliminated during an operation in the Gaza Strip.
At this phase, the identity of the terrorists can not be confirmed, it said in a declaration.
It said there were no signs that Israeli hostages had actually been present in the building where the three militants were killed.
There was no immediate comment from Hamas. Al-Majd, a Hamas-linked site that typically releases about security concerns, advised Palestinians to wait for details about Sinwar from the group itself and not Israeli media outlets, which it said intended to break their spirit.
Israeli media reported that the operation was a routine raid that caught Sinwar by chance.
If validated, his death would represent a significant increase to the Israeli military and Prime Minister Benjamin Netanyahu after a string of prominent assassinations of prominent leaders of its enemies in current months.
Households of the 101 Israeli and foreign hostages still held in Gaza welcomed the news about Sinwar but repeated their call for a deal to bring the hostages home.
We get in touch with the Israeli government, world leaders, and mediating nations to leverage the military achievement into a diplomatic one by pursuing an immediate contract for the release of all 101 hostages, the group said.
Israeli Defence Minister Yoav Gallant published a message on social networks platform X with a biblical quotation.
'You will pursue your enemies and they will fall before you by the sword.' - Leviticus 26 Our opponents can not hide. We will pursue and eliminate them.
The post consisted of photos of former Hezbollah leader Hassan Nasrallah, who was assassinated in Beirut last month and former Hamas military chief Mohammed Deif, who was killed in August, with a blank space for a 3rd image in between them. All three were crossed out in red.
SUCCESSION CONCERNS
Sinwar, the chief architect of the on Israel that set off the Gaza war, has actually been at the top of Israel's desired list since Hamas-led gunmen assaulted Israel on Oct 7, 2023 eliminating some 1,200 individuals and taking more than 250 captives into Gaza.
Israel's campaign in reaction has actually eliminated more than 42,000 individuals, turned much of Gaza into rubble and displaced most of its population. But Sinwar had up until now avoided detection, potentially hiding in the warren of tunnels Hamas has constructed under Gaza over the previous two decades.
His death would be the heaviest blow Hamas has suffered in more than a year of war, with more severe repercussions for its staying forces in Gaza than the assassination of previous political leader Ismail Haniyeh, who had less connection with the daily running of the conflict.
Formerly leader of Hamas in the Gaza Strip, Sinwar was called as its general leader following the assassination of former political chief Ismail Haniyeh in Tehran in July.
It remains uncertain who might succeed Sinwar, an uncompromising enemy of Israel with a track record as a ruthless enforcer within the organisation. None of his potential followers has the same standing.
The group's mastermind and political and strategic leader, Sinwar had incomparable impact within Hamas and his death might potentially break the ice to renewed efforts to reach a ceasefire deal to end the battling.
Israel estimates it has actually destroyed Hamas as an arranged military force and eliminated more than 18,000 Hamas fighters. However it is still taken part in strong fights with little groups of fighters operating in the rubble of Gaza.
(source: Reuters)