Bulletin
Investor Alert

Commodities

Corn, wheat futures climb to multimonth highs as U.S. planting has slowed

Corn futures finish Monday at their highest level in nearly a year, while wheat futures mark a three-month high as wet weather raises concerns over U.S. planting progress for the crops. 4:04 p.m. Today

U.S. oil prices settle higher, but global crude ends lower amid supply-demand uncertainty

Oil settles on a mixed note Monday, with U.S. crude up for the session but global benchmark prices shifting lower by the close as traders weigh signs that OPEC will decide to extend its production-cut agreement against ongoing worries about energy demand. 3:24 p.m. Today

Agco's stock falls after BofA Merrill turns bearish on concerns over farming equipment demand

Shares of Agco Corp. slumped 2.6% in morning trade Monday, after Bank of America Merrill Lynch analyst Ross Gilardi turned bearish on the agricultural equipment company, saying its "heavy" outperformance over Deere & Co. appears unsustainable given increased pressure on farm equipment demand. Gilardi cut his rating to underperform from neutral and slashed his stock price target to $64 from $75. Gilardi said Agco's stock outperformance has been based on Agco's relative lack of North America large agriculture exposure as the U.S.-China trade war drags on, continued strong performance of its European business and a heavy short position by investors in late 2018. Agco's stock is up 17.9% year to date, while Deere shares are down 10.5% and the S&P 500 is up 13.4%. "We expect Agco to relinquish some of this outperformance as the rest of 2019 outlook feels more uncertain to us with rising competition in Brazil and likely US production cuts in 2H19," Gilardi wrote in a note to clients. On Friday, Deere's stock tumbled 7.7% after the company reported earnings that missed expectations as the U.S.-China trade war caused farmers to become more cautious about making purchases. 9:58 a.m. Today

Commodities Headlines

Arconic board approves additional share buyback program of up to $500 million

Arconic Inc. said Monday its board has approved an additional share buyback program of up to $500 million. The maker of aluminum parts for the aerospace and automotive sectors said the sum will be added to its existing program of $1 billion, of which just $100 million remains available through 2020. Shares were not active premarket, but have gained 21%% in the last 12 months, while the S&P 500 has gained 5.4%.

8:37 a.m. Today
 - AFP/Getty Images
Here’s what’s feeding volatility in the oil market

Here’s a rundown of what’s causing volatility in the oil market, from attacks on Saudi Arabia’s oil infrastructure and Iran, to the U.S.-China trading dispute, and what’s at stake.

3:20 p.m. May 17, 2019
 - Reuters
Oil falls for the session, but gains for the week ahead of OPEC committee meeting

Oil futures finish lower Friday, with U.S. prices down for the first time in three sessions but up for the week, as any potential demand worries tied to stock-market volatility were offset by supply concerns linked to Middle East tensions.

3:13 p.m. May 17, 2019
Oil prices fall for the session, gain for the week

Oil futures settled lower Friday, giving up some of the gains that lifted U.S. prices to their highest levels in more than two weeks. Prices, however, registered an increase for the week as traders continued to monitor developments in the Middle East and looked ahead to a meeting Sunday of OPEC and non-OPEC producers who monitor compliance with the production-cut deal. June WTI oil fell by 11 cents, or 0.2%, to $62.76 a barrel on the New York Mercantile Exchange. After posting gains in the previous three sessions, most-active contract prices rose 1.8% for the week.

2:44 p.m. May 17, 2019
Gold settles at a more than 2-week low, down 0.9% for the week

Gold futures fell Friday to tally a loss of 0.9% for the week and mark their lowest finish since May 2. Upbeat U.S. economic data, including a jump in consumer sentiment, as well as some strength in the dollar pressured prices for the haven metal. June gold lost $10.50, or 0.8%, to settle at $1,275.70 an ounce on Comex.

1:41 p.m. May 17, 2019
 - AFP/Getty Images
Iron-ore prices climb past $100 to the highest in 5 years

Prices for iron ore breached the $100 mark on Friday, their highest since early 2014, buoyed by expectations for higher steel production in China and the threat of another dam collapse at a Vale mine in Brazil.

1:15 p.m. May 17, 2019
Baker Hughes data show U.S. oil-rig count down for a second straight week

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 3 to 802 this week. That followed a decline of 2 rigs the previous week. The total active U.S. rig count, meanwhile, also fell by 1 to 987, according to Baker Hughes. June West Texas Intermediate crude fell 6 cents, or 0.1%, to $62.81 a barrel. It was at $62.76 shortly before the rig data.

1:08 p.m. May 17, 2019
Steel maker stocks fall after WSJ report a deal to end tariffs on imports from Canada, Mexico was close

Steel maker stocks dropped in midday trade Friday, after The Wall Street Journal reported that U.S. trade negotiators were close to a deal with Canada and Mexico to end tariffs on steel imports. Shares of U.S. Steel Corp. fell 2.7%, Nucor Corp. shed 3.6%, Steel Dynamics Inc. gave up 2.9% and ArcelorMittal slid 3.4%. Meanwhile, the S&P 500 was down just 0.2%. Among aluminum companies, Alcoa Corp.'s stock fell 1.7% and Kaiser Aluminum Corp. declined 1.5%. The WSJ reported, citing sources, that U.S. trade negotiators were trying to reach a deal on tariffs with Canada and Mexico to "push USMCA through Congress."

12:31 p.m. May 17, 2019

Video

Annual TV ad spend tops $70 billion. Will streaming get a piece?

  • Annual TV ad spend tops $70 billion. Will streaming get a piece? Annual TV ad spend tops $70 billion. Will streaming get a piece? 2:42
    What is trapped value and how can companies unleash it? What is trapped value and how can companies unleash it? 3:07
    How the evolution of benefits is changing corporate culture How the evolution of benefits is changing corporate culture 2:12
    Why brands that ignore diversity pay the price Why brands that ignore diversity pay the price 2:39
  • How these sector strategies could safeguard your portfolio How these sector strategies could safeguard your portfolio 3:17
    Here's how augmented reality will transform how you shop online Here's how augmented reality will transform how you shop online 2:49
    How tech is improving lives in the deaf and hard of hearing community How tech is improving lives in the deaf and hard of hearing community 3:44
    This is the thing most likely to cause you financial ruin This is the thing most likely to cause you financial ruin 1:42
  • Here's why employers are dramatically increasing benefits Here's why employers are dramatically increasing benefits 2:42
    Financial spring cleaning: 5 money moves to make this month Financial spring cleaning: 5 money moves to make this month 2:15
Trending Tickers
  • /quotes/zigman/17636479/composite VUZI+15.60%
  • /quotes/zigman/237947/composite JCP-5.83%
  • /quotes/zigman/59392505/composite NUGT-2.93%
  • /quotes/zigman/59386294/composite JNUG-5.94%
  • /quotes/zigman/65801738/composite TLT+1.11%
X
Powered by StockTwits
Link to MarketWatch's Slice.