Tag: General Electric

Stock futures sluggish; eyes on tax bill talks and General Electric
Unemployment

Stock futures sluggish; eyes on tax bill talks and General Electric

Saratoga Investment Corp. CEO Chris Oberbeck explains how rising interest rates and tax reform will impact U.S. markets.
(Reuters) – U.S. stock futures pointed to a dull opening on Thursday with technology stocks holding on to their modest gains as traders focus on progress in tax bill negotiations and General Electric’s job-cut plan.
– Shares of tech giants Microsoft Corp (MSFT), Amazon.com Inc (AMZN), Facebook Inc (FB), Apple Inc (AAPL) and Alphabet Inc (GOOGL) were up about 0.3 percent to 0.6 percent.
– Other early movers include Broadcom (AVGO), which gained 5 percent after reporting upbeat profit and boosting its dividend by 72 percent, days after the chipmaker took its $103 billion bid for Qualcomm (QCOM) hostile.
– Lululemon Athletica (LULU) rose about 8 percent after the Canadian yoga and leisure apparel maker reported a higher-than-expected profit and gave an upbeat holiday-quarter forecast.
– U.S. Senate Republicans on Wednesday agreed to talks with the House of Representatives on the tax bill on Wednesday, amid early signs that lawmakers could agree on a final bill ahead of a self-imposed Dec. 22 deadline.
– However, a gridlock between President Donald Trump and Congress over the passage of fresh spending legislation before Friday has raised fears of partial shut down of the federal government.
– Oil prices rose more than half a percent after dipping 2 percent on Wednesday as a fall in U.S. crude inventories was countered by soaring output and a rise in fuel stocks.
[O/R] – Data is expected to show weekly initial claims for state unemployment benefits rose to 240,000 from 238,000 in the week before.
– S&P 500 e-minis were up 1.5 points, or 0.06 percent, with 122,705 contracts traded.

Stock futures sluggish; eyes on tax bill talks and General Electric
Unemployment

Stock futures sluggish; eyes on tax bill talks and General Electric

Thomson Reuters By Sruthi Shankar and Rama Venkat Raman (Reuters) – U.S. stock futures pointed to a dull opening on Thursday with technology stocks holding on to their modest gains as traders focus on progress in tax bill negotiations and General Electric’s job-cut plan.
– Shares of tech giants Microsoft Corp , Amazon.com Inc , Facebook Inc , Apple Inc and Alphabet Inc were up about 0.3 percent to 0.6 percent.
– Other early movers include Broadcom , which gained 5 percent after reporting upbeat profit and boosting its dividend by 72 percent, days after the chipmaker took its $103 billion bid for Qualcomm hostile.
– Lululemon Athletica rose about 8 percent after the Canadian yoga and leisure apparel maker reported a higher-than-expected profit and gave an upbeat holiday-quarter forecast.
– U.S. Senate Republicans on Wednesday agreed to talks with the House of Representatives on the tax bill on Wednesday, amid early signs that lawmakers could agree on a final bill ahead of a self-imposed Dec. 22 deadline.
– However, a gridlock between President Donald Trump and Congress over the passage of fresh spending legislation before Friday has raised fears of partial shut down of the federal government.
– Oil prices rose more than half a percent after dipping 2 percent on Wednesday as a fall in U.S. crude inventories was countered by soaring output and a rise in fuel stocks.
[O/R] – Data is expected to show weekly initial claims for state unemployment benefits rose to 240,000 from 238,000 in the week before.
The report is due 8:30 a.m.
– S&P 500 e-minis were up 1.5 points, or 0.06 percent, with 122,705 contracts traded.

GE faces 2nd dividend cut since Great Depression
Unemployment

GE faces 2nd dividend cut since Great Depression

GE is one of America’s most widely-held stocks, making a decision to cut the dividend even tougher.
The company also cut its dividend in 2009 during the Great Recession.
Senate Republicans unveiled the contents of their tax reform bill on Thursday, a week after their House colleagues released their own legislation.
For businesses, there are a few key differences between the House and the Senate’s version of the bill, including when a corporate tax cut would take effect and how pass-through business income is taxed.
The National Federation of Independent Business, which came out against the House’s plan, said it was “very encouraged” by the Senate’s revisions.
Since then, it has moved even lower, holding steady at around 4.3% in recent months.
Retail’s bright spots: Retailers will continue revealing their financial results next week.
Will oil continue to rally?
Oil ministers will meet at the Abu Dhabi International Petroleum Exhibition and Conference on Monday through Thursday, and OPEC will release its next monthly oil report on Monday.
Coming this week: Monday — GE hosts key meeting Tuesday — Home Depot, TJX earnings Friday — Abercrombie & Fitch earnings