News Oil 

Brent oil prices head for 6-week low on expectations of OPEC output hike

“Major oil producers meet June 22 in Vienna” writes Saefong William Watts for marketwatch.com. The EIA data also showed domestic crude stockpiles fell by 4.1 million barrels in the week ended June 8.The Energy Information Administration reported Wednesday total domestic crude production climbed by 100,000 barrels a day to a weekly record of 10.9 million barrels a day.August Brent crude LCOQ8, -3.25% the global benchmark, declined by $2.69, or 3.5%, to $73.25 a barrel on ICE Futures Europe. Source: marketwatch.com Share This:

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News Oil 

Oil under pressure on expectations of OPEC output hike

“Oil futures were under pressure Friday on expectations the Organization of the Petroleum Exporting Countries and its allies, including Russia, will agree next week to boost output” writes Deputy Markets Editor for marketwatch.com. Major oil producers meet June 22 in Vienna.The EIA data on Wednesday also showed domestic crude stockpiles fell by 4.1 million barrels in the week ended June 8.The Energy Information Administration this week said total domestic crude production climbed by 100,000 barrels a day to a weekly record of 10.9 million barrels a day. Source: marketwatch.com Share This:

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Markets News Regulators 

US 2-year yield rises to highest since 2008 after Fed hikes rates; 10-year yield jumps back above 3%

“The 2-year yield hit its highest level since 2008 and the yield on the benchmark 10-year Treasury note rose to 3 percent, following the Fed’s announcement” writes Kate Rooney for cnbc.com. The yield on the 30-year Treasury bond was also in the green at 3.095 percent while the 5-year yield hit a fresh high of 2.857.Bond yields move inversely to prices.U.S. government debt yields rose Wednesday after the Federal Reserve hiked its benchmark short-term interest rate a quarter percentage point and indicated that two more increases are likely in store. Source:…

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News Stocks 

Stop-n-Go parent Casey’s stock drops to 3-year low after earnings, sales miss expectations

“The FactSet consensus for earnings per share was 66 cents” writes Reporter Editor for marketwatch.com. Same-store sales for grocery and other merchandise fell 0.4%, while the FactSet consensus was for a rise of 2.6%, and the 1.3% decline in prepared food and fountain same-store sales missed expectations of a 2.2% rise. Source: marketwatch.com Share This:

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News 

RH shares rally after company beats earnings expectations, raises guidance

“Shares of RH RH, +4.81% rallied late Monday after the company formerly known as Restoration Hardware reported first-quarter earnings above Wall Street expectations and increased its guidance” writes Claudia Assis for marketwatch.com. Analysts polled by FactSet had expected adjusted earnings of $1.01 a share on sales of $563 million for the company.For the second quarter, the company sees revenue between $655 million and $662 million, and adjusted EPS between $1.70 and $1.77. Source: marketwatch.com Share This:

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News Oil 

U.S. oil prices inch up on fall in local crude stockpiles

“But U.S. oil had rebounded by Tuesday’s close amid expectations U.S. crude oil stockpiles likely fell for a second week last week” writes Midwest Communications Inc for 95kqds.com. Distillate fuels stockpiles, which include diesel and heating oil, fell by 871,000 barrels, compared with expectations for a 784,000-barrel gain.U.S. crude inventories fell by 2 million barrels, compared with analyst expectations for a decrease of 1.8 million barrels, American Petroleum Institute data showed after Tuesday’s settlement. [API/S] Gasoline stocks rose by 3.8 million barrels, compared with analyst expectations for a 587,000-barrel gain.Brent…

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News Stocks 

Smartsheet stock rises after beating expectations in first public quarter; analysts hike price targets

“SMAR, +1.03% are up 5.5% in premarket trading Tuesday after the software company reported better-than-expected results for its first quarter as a public company and delivered an upbeat outlook” writes Emily Bary for marketwatch.com. SunTrust Robinson Humphrey analyst Terry Tillman highlighted the company’s strong subscription-revenue growth of nearly 60% and billings growth of about 50%. Shares were up 36% since the company’s late-April IPO, as of Monday’s close, while the S&P 500 SPX, +0.45% had gained 2.9% in that time. Source: marketwatch.com Share This:

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Futures News Oil 

U.S. crude eases for third day on expectations of higher supplies

“SINGAPORE (Reuters) – U.S. crude oil futures dipped for a third consecutive session on Monday, with prices coming under pressure from record U.S. output and expectations of higher OPEC supplies” writes Midwest Communications Inc for 95kqds.com. U.S. crude production rose in March to 10.47 million barrels per day (bpd), a monthly record, the Energy Information Administration said on Thursday.Crude oil production rose to another record, while drilling activity picked up again.”. Hedge funds and other money managers cut their bullish wagers on U.S. crude futures and options, according to data…

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Markets News Regulators 

Euro zone inflation well above expectations in May

“Euro zone inflation jumped by far more than expected in May on higher energy costs, bringing relief to the European Central Bank after market turbulence that has jeopardized its planned exit from a lavish stimulus program” writes Daniel Roland for cnbc.com. Excluding volatile energy and unprocessed food prices, inflation was 1.3 percent, from 1.1 percent in April. However, Italy’s political crisis risks reigniting market turbulence on the bloc’s periphery and derailing a the bank’s exit strategy.Another core inflation measure, also excluding alcohol and tobacco, was 1.1 percent in May, from…

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