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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Other megacap stocks including Apple (AAPL.O), Meta Platforms (META.O), Amazon.com (AMZN.O), Alphabet (GOOGL.O) and Microsoft (MSFT.O) advanced between 0.9% and 1.9%. Eight of the eleven S&P sub sectors were down, with the utilities index (.SPLRCU), often considered as a bond proxy, declining 4.9%. Declining issues outnumbered advancers for a 4.02-to-1 ratio on the NYSE and for a 2.27-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and 48 new lows, while the Nasdaq recorded 19 new highs and 211 new lows.

Persons: Brendan McDermid, Tesla, Goldman Sachs, Jerome Powell, Michelle Bowman, Loretta Mester, Stocks, Paul Ashworth, Kevin McCarthy, advancers, Shubham Batra, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Federal Reserve, Nvidia, Apple, Microsoft, Cleveland Fed, North, Capital Economics, Democratic, Republican, Dow Jones, NYSE, Thomson Locations: New York City, U.S, North America, Bengaluru

The S&P 500 climbed 0.12% to end the session at 4,467.44 points. The Nasdaq gained 0.29% to 13,813.59 points, while the Dow Jones Industrial Average declined 0.20% to 34,575.53 points. The S&P 500 consumer discretionary index (.SPLRCD) climbed 0.9%, lifted as Ford Motor (F.N) rallied 1.5% on the vehicle maker's plans to double the production of its hybrid F-150 pickup trucks in 2024. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 1.5-to-one ratio. The S&P 500 posted 10 new highs and 11 new lows; the Nasdaq recorded 20 new highs and 199 new lows.

Persons: Victoria Fernandez, Raindrops, Mike Segar, that's, Keith Buchanan, Jane Fraser, Xpeng, Ankika Biswas, Shristi, Shubham Batra, Noel Randewich, Savio D'Souza, Vinay Dwivedi, Deepa Babington Organizations: Citi, Nasdaq, Dow, Federal Reserve, Microsoft, Dow Jones, Ford, Crossmark Global Investment, Wall, New York Stock Exchange, REUTERS, GLOBALT Investments, Reuters Graphics Reuters, Citigroup, European Commission, Sprit Airlines, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Atlanta, Bengaluru, Oakland, Calif

Megacap growth stocks Tesla (TSLA.O), Meta Platforms (META.O), Microsoft (MSFT.O) and Amazon.com (AMZN.O) gained for much of the session. According to preliminary data, the S&P 500 (.SPX) gained 5.87 points, or 0.13%, to end at 4,467.77 points, while the Nasdaq Composite (.IXIC) gained 39.96 points, or 0.29%, to 13,813.59. Data showed consumer prices increased by the most in 14 months in August as gasoline prices surged, but the annual rise in underlying inflation was the smallest in nearly two years. Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Reuters Graphics Reuters GraphicsThe Fed is unlikely to cut rates before the April-June period next year, a Reuters poll showed.

Persons: Victoria Fernandez, Mike Segar, that's, Keith Buchanan, Jane Fraser, Xpeng, Ankika Biswas, Shristi, Shubham Batra, Noel Randewich, Savio D'Souza, Vinay Dwivedi, Deepa Babington Organizations: Citi, Federal Reserve, Microsoft, Apple, Nasdaq, Dow Jones, Ford, Crossmark Global Investment, Wall, New York Stock Exchange, REUTERS, GLOBALT Investments, Reuters Graphics Reuters, Citigroup, European Commission, Sprit, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Atlanta, Bengaluru, Oakland, Calif

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File Photo Acquire Licensing RightsSummaryCompanies Spirit Airlines slips on revenue outlook cutFord rises on plans to double production of pickup trucksConsumer prices data due at 8:30 a.m. ETFutures down: Dow 0.12%, S&P 0.12%, Nasdaq 0.15%Sept 13 (Reuters) - U.S. stock index futures inched lower on Wednesday as higher oil prices fuel worries about sticky inflation and stoke interest-rate concerns ahead of CPI data. "All indications are that higher oil costs are going to influence the headline inflation print. Investors will also closely monitor August producer prices and retail sales data on Thursday ahead of the Fed's Sept. 20 policy decision.

Persons: Mike Segar, Tim Waterer, Li Auto, Ankika Biswas, Shristi, Shubham Batra, Savio D'Souza, Vinay Dwivedi Organizations: Wall, New York Stock Exchange, REUTERS, Spirit Airlines, Dow, Nasdaq, stoke, Labor, KCM, Federal Reserve, Dow e, Apple, Li, European Commission, Sprit Airlines, Moderna, Thomson Locations: Manhattan, New York City , New York, U.S, Xpeng, Bengaluru

Smucker's $5.6 bln buyout dealIndexes: S&P 500 +0.67%, Nasdaq +1.14%, Dow +0.25%Sept 11 (Reuters) - The Nasdaq closed sharply higher on Monday as Tesla surged on optimism around artificial intelligence and investors awaited inflation data due later this week. The S&P 500 climbed 0.67% to end at 4,487.46 points. Hostess Brands (TWNK.O) surged 19.1% after J. M. Smucker (SJM.N) said it would buy the Twinkies-maker in a $5.6 billion deal. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 1.5-to-one ratio. The S&P 500 posted 14 new highs and 11 new lows; the Nasdaq recorded 36 new highs and 199 new lows.

Persons: Brendan McDermid, Morgan Stanley, Tesla, megacaps, Walt Disney, Greg Bassuk, chipmaker, Ankika Biswas, Shreyashi Sanyal, Shubham Batra, Noel Randewich, Arun Koyyur, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, Qualcomm, Apple Hostess Brands, Nasdaq, Dow, Amazon, Microsoft, Sunday, Charter Communications, ESPN, NFL, Federal, New York Fed, PPI, AXS Investments, Traders, Dow Jones, Apple, Hostess Brands, Thomson Locations: New York City, U.S, New York, Bengaluru, Oakland, Calif

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSummaryCompanies Tesla gains on Morgan Stanley upgradeQualcomm up after deal to supply 5G chips to AppleHostess Brands up after J.M. The S&P 500 consumer discretionary stocks (.SPLRCD) rose 2.2% to their highest level in a month, leading gains in key S&P 500 sectors. Investors now await the crucial consumer and producer prices data as well as retail sales numbers due later this week. Wall Street had logged weekly losses on Friday after a recent uptick in oil prices and stronger-than-expected economic data fueled concerns of sticky inflation and interest rates staying higher for longer.

Persons: Brendan McDermid, Morgan Stanley, Tesla, Anthony, chipmaker, Ankika Biswas, Shreyashi Sanyal, Shubham Batra, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Qualcomm, Apple Hostess Brands, Dow, Nasdaq, U.S, Apple, Microsoft, Energy, Investors, New York Fed, Traders, FedWatch, Fed, Dow Jones, Nvidia, Hostess Brands, Sunday, NYSE, Thomson Locations: New York City, U.S, megacaps, U.S . Federal, Bengaluru

☆ TSX hits a 2-month low as dividend-paying stocks fall
▼ + stars: | 2023-08-21 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 33.52 points, or 0.2%, at 19,784.87, its lowest closing level since June 27. "Interest rates continue to climb, which is something negative for the TSX which is littered with dividend payers," said Barry Schwartz, a portfolio manager at Baskin Financial Services. Stocks paying high dividends dominate the real estate, utilities and financials sectors. Shares of Restaurant Brands International (QSR.TO) gained 0.9% after J.P.Morgan initiated coverage on the stock with an "overweight" rating.

Persons: Chris Helgren, Barry Schwartz, Stocks, Fergal Smith, Shubham Batra, Shashwat Chauhan, Shilpi Majumdar, Deepa Babington Organizations: Toronto Stock Exchange, REUTERS, Energy, Toronto Stock, TSX, Baskin Financial Services, Bank of Canada, Technology, Restaurant Brands, Thomson Locations: Toronto , Ontario, Canada, Real, Toronto, Bengaluru

☆ Higher oil prices lift TSX at open
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsAug 21 (Reuters) - Canada's main stock index rebounded on Monday after a sharp selloff last week, led by a jump in oil prices, while investors awaited Federal Reserve Chairman Jerome Powell's comments later this week for clues on interest rates. At 9:31 a.m. ET (13:31 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 12.91 points, or 0.07%, at 19,831.3. Reporting by Shubham Batra in Bengaluru, Editing by Tasim ZahidOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, Jerome Powell's, Shubham Batra, Tasim Zahid Organizations: Toronto Stock Exchange, REUTERS, Federal, Toronto Stock, Thomson Locations: Toronto , Ontario, Canada, Bengaluru

☆ Wall Street ends flat, after pop from July inflation data fizzles
▼ + stars: | 2023-08-10 | by ( David French | ) www.reuters.com time to read: +5 min

Stock prices started to sag from late-morning onwards, and bounced between positive and negative territory for much of the afternoon. He noted that while inflation has slowed, a look beyond the headline number revealed that core inflation remained sticky, and as traders parsed the data, the initial positive sentiment became more subdued. A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. On the earnings front, Walt Disney (DIS.N) rose 4.9% after beating Wall Street estimates for quarterly adjusted profit per share. The S&P 500 posted 18 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 58 new highs and 159 new lows.

Persons: Gregg Abella, Mary Daly, Brendan McDermid, Walt Disney, Michael Kors, Tapestry's, Joe Biden, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Shubham Batra, Vinay Dwivedi, David Gregorio Our Organizations: Disney, Dow, Nasdaq, U.S . Federal, Investment Partners, Management, San Francisco Fed, New York Stock Exchange, REUTERS, Nvidia Corp, Alphabet Inc, Microsoft, Dow Jones, Energy, Wall, Alibaba, Wednesday, Thomson Locations: New York City, U.S, China, Bengaluru, New York

☆ Wall Street ends flat, gives up most gains after July inflation data
▼ + stars: | 2023-08-10 | by ( David French | ) www.reuters.com time to read: +4 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Data showed headline and core consumer prices both climbed by 0.2% in July, with the headline number notching annual rise of 3.2% and the core up 4.7%. He noted that while inflation has slowed, a look beyond the headline number revealed that core inflation remained sticky, and as traders parsed the data, the initial positive sentiment became more subdued. In separate data, the number of Americans filing new claims for unemployment benefits rose by 248,000 last week, exceeding estimates of 230,000. On the earnings front, Walt Disney (DIS.N) rose after beating Wall Street estimates for quarterly adjusted profit per share.

Persons: Brendan McDermid, Gregg Abella, Mary Daly, Walt Disney, Michael Kors, Tapestry's, Alibaba, Joe Biden, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Shubham Batra, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Disney, U.S . Federal, Investment Partners, Management, Francisco Fed, Nasdaq, Treasury, Nvidia Corp, Microsoft, Apple, Dow Jones, Wall, Wednesday, Thomson Locations: New York City, U.S, China, Bengaluru, New York

Buoyed by inflation numbers, traders not only expect the central bank to stop further monetary tightening in 2023, they are also betting the Fed would start cutting interest rates early next year. "Inflation has returned to the good old days where in 2019 we saw an average monthly increase of around 0.2% ... The Fed, therefore, might feel it can pause as planned and not raise interest rates in September," said George Mateyo, chief investment officer at Key Private Bank. The tech-heavy Nasdaq led Wall Street lower on Wednesday, with heavyweight Nvidia (NVDA.O) falling 4.7%, followed closely by the other "Magnificent Seven" megacap stocks that drove this year's stock rally. On the earnings front, Walt Disney (DIS.N) rose 3.2% after beating Wall Street estimates for quarterly adjusted profit per share.

Persons: Brendan McDermid, George Mateyo, Mary Daly, Walt Disney, Michael Kors, Tapestry's, Joe Biden, Bansari Mayur Kamdar, Johann M Cherian, Shashwat Chauhan, Shubham Batra, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Disney, Dow, Nasdaq, Reserve, Key Private Bank, San Francisco Fed, Microsoft, Apple, Nvidia, Dow Jones, Wall, Alibaba, Wednesday, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru

A partial counterweight to Apple for the S&P 500 and Nasdaq was Amazon.com. Amazon's rise were an 11-point positive for the S&P 500. Reuters GraphicsAverage hourly earnings rose 0.4% in July, unchanged from the previous month, exceeding expectations, taking the year-on-year increase in wages to 4.4%. DraftKings' (DKNG.O) shares rose 5.8% after the sports-betting firm raised its fiscal year 2023 revenue outlook. The S&P 500 posted 19 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 54 new highs and 91 new lows.

Persons: dents, jitters, Said Greg Bassuk, Brendan McDermid, Carl Icahn, DraftKings, Echo Wang, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Ganguli, Louise Heavens, David Gregorio Our Organizations: Companies, Apple, Dow, Nasdaq, AXS Investments, Treasury, Labor Department, Reuters, New York Stock Exchange, REUTERS, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York, Ukraine, China, New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Data for June additions was revised lower to 185,000 jobs, from 209,000 reported previously. Reuters GraphicsAverage hourly earnings rose 0.4% in July, unchanged from the previous month, exceeding expectations, taking the year-on-year increase in wages to 4.4%. The yield on the 10-year benchmark Treasury note dipped after the jobs data, partly boosting some megacap stocks. Buoying the S&P 500 index, Amazon.com shares (AMZN.O) rose after the company issued an upbeat third-quarter outlook.

Persons: Brendan McDermid, Greg Bassuk, jitters, Said, Echo Wang, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Ganguli, Louise Heavens, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Apple, Nasdaq, Treasury, AXS Investments, Labor Department, Reuters, Microsoft, Dow Jones, Thomson Locations: New York City, U.S, Ukraine, China, New York, Bengaluru

The yield on the 10-year benchmark note dipped on Friday after the jobs data, but still remained above 4%, partly boosting some megacap stocks. "At this point in some ways the jobs data doesn't do much to the Fed. Giving solid boost to the S&P 500 index, Amazon.com shares (AMZN.O) surged 10.9% after the company issued an upbeat third-quarter outlook. Of the 422 companies in the S&P 500 that have reported quarterly earnings as of Friday, 79.1% have beat analysts' estimates, according to Refinitiv data. Amgen (AMGN.O) gained 6.2% after it reported a higher quarterly profit on strong sales of its cholesterol, osteoporosis and other drugs.

Persons: Brendan McDermid, David Russell, Stocks, Carl Icahn, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Organizations: New York Stock Exchange, REUTERS, Apple, Dow, Nasdaq, Labor Department, Data, Reuters, Fed, Treasury, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York City, U.S, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. All eyes will be squarely on the July U.S. nonfarm payrolls report, due at 8:30 a.m. ET, with a Reuters poll of economists estimating payrolls increased by 200,000 jobs last month, after having risen 209,000 in June, showing labor market conditions remain tight. "Today's NFP data would be important for setting the market tone for the coming weeks," Jefferies strategist Mohit Kumar said. ET, Dow e-minis were up 10 points, or 0.03%, S&P 500 e-minis were up 8.5 points, or 0.19%, and Nasdaq 100 e-minis were up 44.25 points, or 0.29%.

Persons: Brendan McDermid, Amazon's, nonfarm, Jefferies, Mohit Kumar, Stocks, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Organizations: New York Stock Exchange, REUTERS, Apple Futures, Dow, Nasdaq, Amazon.com, Microsoft, Labor Department, Fitch, AAA, Dow e, Horizon Therapeutics, Sports, Thomson Locations: New York City, U.S, States, Bengaluru

“It’s really relative to just pricing against bond yields”, said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis. Eight of the eleven main S&P 500 sectors declined, with more interest rates sensitive Utilities(.SPLRCU) and Real Estate (.SPLRCR) leading losses, dropping 2.3% and 1.4% respectively. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Second-quarter earnings for companies in the S&P 500 are now expected to fall 5% from a year earlier, according to Refinitiv data. The S&P 500 posted 14 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 58 new highs and 88 new lows.

Persons: “ It’s, Tom Hainlin, …, Thomas Barkin, Brendan McDermid, Echo Wang, Shubham Batra, Bansari, Anil D'Silva, David Gregorio Our Organizations: PayPal, Qualcomm, Dow, Nasdaq, Treasury, U.S, Bank Wealth Management, Labor Department, Investors, Richmond Federal, Dow Jones, Traders, New York Stock Exchange, REUTERS, PayPal Holdings, Spirit Airlines, NYSE, Thomson Locations: Minneapolis, U.S, New York City, New York, Bengaluru

☆ Liberty SiriusXM shares get a shake-up. Here's a breakdown of the new structure
▼ + stars: | 2023-08-04 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Investing alongside Malone is complicated for individuals because Liberty Media has a string of tracking stocks for all its different businesses. The media conglomerate has two tracking stock groups: Liberty SiriusXM Group and Formula One Group. Liberty Media owns Formula One, which trades under tracking stock Liberty Media Formula One . Live Nation trades under its common stock ticker LYV, while's Liberty's share is available under the LLYVA and LLYVB tracking stocks. For the new Liberty SiriusXM tracking stocks LSXMK and LSXMA, the reclassification could help narrow the stock's wide discount to its net asset value, according to Citi.

Persons: John, Malone, SIRI, while's, BATRA Organizations: Liberty Media, Sirius XM Holdings, Entertainment, Liberty SiriusXM Group, Formula One, Nation Entertainment, Live, Major League Baseball's, Atlanta Braves, Liberty Media Corp, Nasdaq, Liberty, Citi Locations: New York

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Earnings are also in focus, with Apple (AAPL.O) and Amazon.com (AMZN.O) due to report quarterly results after market close. Declining issues outnumbered advancers for a 2.08-to-1 ratio on the NYSE and a 1.28-to-1 ratio on the Nasdaq. The S&P index recorded nine new 52-week highs and four new lows, while the Nasdaq recorded 37 new highs and 63 new lows. Reporting by Shubham Batra and Bansari Mayur Kamdar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Quincy Krosby, Thomas Barkin, advancers, Shubham Batra, Bansari, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Moderna, PayPal, Qualcomm, Dow, Nasdaq, LPL, Richmond Federal, Dow Jones, Apple, PayPal Holdings, Spirit Airlines, NYSE, Thomson Locations: New York City, U.S, Richmond, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Fitch's action hit the appetite for risky assets on Wednesday, dragging Wall Street sharply lower as investors took the opportunity to book profits on five months of gains. Earnings are also in focus as Apple and Amazon.com (AMZN.O) are due to report quarterly results after market close. Qualcomm (QCOM.O) tumbled 8.4% in trading before the bell as the San Diego, California-based company's fourth-quarter sales forecast fell below market expectations. Meanwhile, Moderna(MRNA.O) gained 3.3% as the company raised its annual forecast for COVID-19 vaccine sales to up to $8 billion.

Persons: Brendan McDermid, Karen Reichgott Fishman, Goldman Sachs, Thomas Barkin, Peers, Shubham Batra, Bansari, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Moderna, PayPal, Qualcomm, Dow, Nasdaq, Apple, Microsoft, Richmond Federal, Dow e, Peers Nvidia, Intel, PayPal Holdings, Thomson Locations: New York City, U.S, San Diego , California, Bengaluru

☆ Factbox: Credit rating: The shrinking 'triple A' club
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: 1 min

Aug 2 (Reuters) - Ratings agency Fitch on Tuesday downgraded the U.S. government's top credit rating by a notch to 'AA+' sending jitters across global markets as investors assessed the impact from the move. Here is a list of countries whose sovereign debt is still rated 'AAA' by at least two of the top three ratings agencies:Compiled by Susan Mathew, Shubham Kalia, and Shubham Batra in Bengaluru;Our Standards: The Thomson Reuters Trust Principles.

Persons: Fitch, Susan Mathew, Shubham Kalia, Shubham Batra Organizations: AAA, Thomson Locations: Bengaluru

☆ China's gasoline demand peak nears as EV boom hastens transition
▼ + stars: | 2023-07-28 | by ( Mohi Narayan | Thomson Reuters | Reports On Everything How Asia S Fuel Use Recovers The Fallout Of To Tracking How The Global Energy Transition Impacts Refinery Expansion Plans | ) www.reuters.com time to read: +5 min

The International Energy Agency (IEA) and consultancy Rystad Energy have brought forward forecasts of China's peak gasoline demand by about a year to 2024, while Chinese state majors PetroChina and Sinopec (600028.SS) see it in 2025. The earlier halt in gasoline demand growth in the world's No. Reuters GraphicsAs a result of accelerating EV sales, Paris-based IEA now expects Chinese gasoline demand to peak in 2024 at about 3.7 million barrels per day (bpd), bringing forward an earlier projection of demand plateauing in 2025/2026. The research arm of China's state refiner CNPC expects gasoline demand to peak in 2025, citing accelerating sales of EVs, and sees gasoline demand shrinking 2.3% annually between 2026 and 2030. China's massive move into petrochemicals is already causing a glut globally, prompting companies to shift investments to high-end energy transition materials.

Persons: Aly, refiners, Toril Bosoni, EV's, Gaurav Batra, Mukesh Sahdev, Ma Yongsheng, Mohi Narayan, Carman Chew, Matthew Chye, Chen Aizhu, Zoey Zhang, Andrew Hayley, Florence Tan, Sonali Paul Organizations: Porsche, Auto Shanghai, REUTERS, International Energy Agency, Rystad Energy, China Association of Automobile Manufacturers, Reuters Graphics, Reuters, China, Shenghong Petrochemical, Energy, Graphics, Thomson Locations: Shanghai, China, Jan, Sinopec, Asia, Reuters Graphics China, Paris, U.S, North America, India, Sun, New Delhi, Singapore, Beijing

☆ The Atlanta Braves team is a stock you can buy and sell. Top execs describe what moves the shares
▼ + stars: | 2023-07-26 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"I think it gives shareholders an opportunity to feel like they're direct owners of the Braves," Liberty Media CEO Greg Maffei said Wednesday on CNBC's " Squawk on the Street ." Atlanta Brave Holdings encompasses the baseball team and its real estate development known as The Battery, which includes its ballpark, Truist Park. The newly public stock has dipped less than 1% to trade around $44 apiece since its first day of trading. The Formula One tracking stock hit an all-time high last month. The executive said profits of the franchise will continue to be driven by operations on the field and of the real estate.

Persons: Major League Baseball's, BATRA, Greg Maffei, We've, we've, Derek Schiller, Maffei, They're, Fanduel Sportsbook, Ronald Acuña Jr, He's Organizations: Atlanta Braves, Major League, Nasdaq, Liberty Media Corp, Braves, Liberty Media, Holdings, Turner Broadcasting, Major League Baseball

☆ India's ICICI Bank beats estimates with record April-June net profit
▼ + stars: | 2023-07-22 | by ( Siddhi Nayak | ) www.reuters.com time to read: +2 min

MUMBAI, July 22 (Reuters) - ICICI Bank (ICBK.NS), India's second-largest private lender, beat expectations to deliver a record first-quarter net profit on Saturday, helped by higher interest income and loan growth. The Mumbai-based lender reported a near-40% rise year-on-year in net profit to 96.48 billion rupees ($1.18 billion) for the April-June quarter, beating analysts' forecast of 91.8 billion rupees, Refinitiv IBES data showed. Net interest income - the difference between interest earned and paid - rose 38% to 182.27 billion rupees. Net interest margin (NIM) expanded to 4.78% from 4.01% a year earlier, but was lower than 4.90% reported in the January-March quarter. The bank booked provisions and contingencies of 12.92 billion rupees, up from 11.44 billion a year earlier.

Persons: Sandeep Batra, NIM, Batra, Banks, Siddhi Nayak, William Mallard, Jason Neely, Clelia Organizations: ICICI Bank, HDFC Bank, ICICI, Siddhi, Thomson Locations: MUMBAI, Mumbai, India

☆ HP joins United Airlines in sponsoring Wrexham, the Welsh soccer club owned by Ryan Reynolds and Rob McElhenney
▼ + stars: | 2023-07-11 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

WREXHAM, Wales - April 10, 2023: Wrexham AFC owners Rob McElhenney and Ryan Reynolds watch their team during the Vanarama National League fixture between Wrexham and Notts County at The Racecourse Ground. Wrexham AFC, the small Welsh soccer club owned by Hollywood stars Ryan Reynolds and Rob McElhenney, on Tuesday announced new sponsorship from U.S. technology giant HP . Wrexham Association Football Club was born in a bar in 1864 and is on its way to great things," said Wrexham AFC Co-Chairmen McElhenney and Reynolds. The formerly struggling club has undergone a remarkable transformation since Reynolds and McElhenney purchased the team for £2 million ($2.6 million) in November 2020. "We're excited to bring the power of our technology to the club and broader community, supporting them to achieve their goals."

Persons: Rob McElhenney, Ryan Reynolds, HP, McElhenney, Reynolds, Vikrant Batra Organizations: WREXHAM, Wrexham AFC, National League, Wrexham, Notts County, Welsh, Hollywood, Tuesday, HP, United Airlines, Wrexham Association Football Club, Wrexham AFC Co, Vanarama National League, League, Disney, HBO, HP Global, English Premier League titans Chelsea, Manchester United, Major League, LA Galaxy Locations: Wales, U.S, Palo Alto , California, Wrexham

The STOXX 600 (.STOXX) rose 0.1% by 1615 GMT, turning positive midway through the session after data showed the U.S. economy added the fewest jobs in 2-1/2 years in June. However, persistently strong U.S. wage growth pointed to still tight labour market conditions that cemented bets the Fed will resume raising interest rates, later this month. Traders stuck to bets the Fed will raise its benchmark interest rate this month to a 5.25%-5.5% range, but were sceptical of further hikes beyond that. The STOXX 600 fell 3.1% for the week, its worst performance since mid-March. Comments from European Central Bank President Christine Lagarde will be monitored later in the day.

Persons: Candice Tse, Christine Lagarde, Matteo Allievi, Shubham Batra, Shreyashi Sanyal, Ankika Biswas, Janane Venkatraman, Shinjini Ganguli, Barbara Lewis Organizations: Federal, Traders, Goldman Sachs Asset Management, Reuters, Coca Cola HBC AG, European Central Bank, Thomson Locations: U.S, China, Gdansk, Bangalore

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