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Oil futures fall to lowest finish in over a weekExternal Link

Oil futures fell on Tuesday, with U.S. prices settling at their lowest in just over a week as the Organization of the Petroleum Exporting Countries and their allies postponed a decision on output cuts to Thursday. Oil prices could continue to slide each day that progress is "not reached in finding a compromise to delaying the January supply hike," said Edward Moya, senior market analyst at Oanda. January West Texas Intermediate crude fell 79 cents, or 1.7%, to settle at $44.55 a barrel on the New York Mercantile Exchange, the lowest front-month finish since Nov. 23, FactSet data show.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 01 Dec 2020 19:39:45 GMT
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Amazon opens macOS development for first time on AWSExternal Link

Amazon.com Inc. is bringing its AWS cloud to the Macintosh operating system for the first time, allowing developers to create apps for iPhones, Macs, and other Apple Inc. devices. Amazon made the announcement during its re:Invent conference this week. The addition of the macOS is expected to bolster AWS in its quest to wrest market share with rivals Microsoft Corp. and Alphabet Inc.'s Google.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 01 Dec 2020 19:27:41 GMT
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Gold prices bounce back from a 5-month low to finish higherExternal Link

Gold futures climbed on Tuesday, bouncing back from the five-month low it settled at a day earlier, as the U.S. dollar fell sharply, boosting the appeal of the precious metal, which is traded in the greenback. February gold rose $38, or 2.1%, to settle at $1,818.90 an ounce. That was the largest one-day dollar and percentage gain for a most-active contract since Nov. 5, according to FactSet data. On Monday, prices settled at $1,780.90, the lowest settlement since July 1.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 01 Dec 2020 18:38:00 GMT
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Bank ETFs charge higher on fiscal stimulus optimism External Link

Exchange-traded funds tracking bank stocks rallied, and the sector ETF tracking financials led the 11 sectors of the S&P 500 Tuesday midday as bond yields rose and the yield curve steepened on hopes for a fiscal relief package. The Financial Select Sector SPDR Fund gained 2.2%, as did the Vanguard Financials ETF . The Invesco KBW Bank ETF was up 2.5%. The U.S. 10-year Treasury note has jumped about 5 basis points over the past week, bringing it to a 2-week high of about 0.91%. Except for a brief period in early November, the benchmark note yield hasn't been that high since the coronavirus crisis gripped markets in early March. The yield curve, or the difference between yields on shorter-dated bonds and longer-duration ones, has also grown. Both conditions in the bond market are essential for banks to make money.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 01 Dec 2020 16:54:28 GMT
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Mnuchin, Powell sound supportive on new $908 billion coronavirus relief packageExternal Link

Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell expressed some support on Tuesday for a new bipartisan coronavirus relief proposal with a $908 billion price tag. "It sounds like you're hitting a lot of the areas that could definitely benefit from help," Powell said, when asked about the proposal at a Senate Banking Committee hearing. Mnuchin said: "I look forward to reviewing with you the overall package. I do think that more fiscal response is needed." The Treasury secretary also said he planned to talk on Tuesday afternoon with House Speaker Nancy Pelosi, the California Democrat, about fresh stimulus and a bill to avoid a government shutdown, adding that he has spoken more than once this week with Senate Majority Leader Mitch McConnell, the Kentucky Republican, and has kept President Donald Trump updated.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 01 Dec 2020 16:36:28 GMT
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