Futures News 

Gold futures climb for the session to post a gain for the week

“Gold futures finished at a two-week high on Friday to post a modest gain for the week as progress in trade talks between the U.S. and China was seen as bullish for the metal” writes Markets Commodities Reporter for marketwatch.com. April gold GCJ9, +0.80% settled at $1,322.10 an ounce, up $8.20, or 0.6% for the session.China is one of the world’s biggest buyers of gold. Source: marketwatch.com

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News 

Dollar holds strength amid mixed data, set for weekly gain

“In the latest developments, trade talks are set to continue in Washington next week, after a round in Beijing wrapped up Friday with gridlock over key issues remaining” writes Markets Reporter for marketwatch.com. Sluggish economic data in the eurozone and its constituents have been overshadowing hopes for a first ECB interest-rate increase this year.Friday’s data showed a 0.5% contraction in import prices, while the Empire state manufacturing index climbed to 8.8 from 3.9 previously.For the week, the gauge is on track for a 0.5% gain, according to FactSet. Source: marketwatch.com

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News 

Dow holds on to 300-point gain as Trump announces plan to declare national emergency on border security

“Legislation that was passed by Congress on Thursday allots about 1.4 billion for border security” writes Mark Decambre for marketwatch.com. The White House said the president planned on allocating $8 billion in funds for a border wall.The Dow Jones Industrial Average held on to its early gains Friday morning, as President Donald Trump said he would declare a national emergency over security at the U.S.-Mexico border at a news conference in the Rose Garden.The president’s plan sets up a potentially nasty fight between GOP and Democrats, as Trump seeks to…

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News Oil 

Oil prices gain on Saudi production-cut pledge, hope for U.S.-China trade pact

“The further gains for crude come after a monthly U.S. Energy Information Administration report released Tuesday revealed higher U.S. crude production forecasts for 2019 and 2020” writes Sarah Mcfarlane for marketwatch.com. Eastern Time to show a rise of 2.7 million barrels in crude stockpiles for the week ended Feb. 8, according to an S&P Global Platts survey.U.S. benchmark March West Texas Intermediate crude oil CLH9, +0.64% added 63 cents, or 1.3%, to trade at $53.72 a barrel on the New York Mercantile Exchange.April Brent crude LCOJ9, +0.93% the international benchmark,…

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Futures News Stocks 

Stock futures gain on trade optimism; inflation data eyed

“ET is expected to show that the consumer price index rose 0.1 percent in January after recording a drop of 0.1 percent in December” reports businessinsider.com. The fourth-quarter earnings season is in the last leg, and about 71 percent of S&P 500 companies that have reported have beaten consensus estimates.Traders work on the floor of the NYSE in New York Thomson Reuters By Amy Caren Daniel (Reuters) – U.S. stock index futures rose on Wednesday, driven by optimism over the ongoing U.S.-China trade talks, and as investors awaited the latest…

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News Regulators 

U.S. consumer credit tops $4 trillion for the first time in December

“The numbers: For the first time ever, consumer credit has risen above $4 trillion, the Federal Reserve said Thursday” writes Senior Economics Reporter for marketwatch.com. Before any alarm bells are sounded, it is important to note that overall consumer credit growth has been on a downward trend.For the year, credit card debt was up at a 2.75% pace while nonrevolving credit was up at a 5.5% pace.What happened: Revolving credit, like credit cards, rose 2% in December, after increasing by 5.6% in November and 11.7% in October.That’s an annual growth…

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News Stocks 

M/I Homes stock soars toward biggest gain in over 7 years after upbeat results

“Meanwhile, new contracts declined 4% to 1,173, which the company attributed to a “more challenging housing conditions and affordability pressures.”” writes Reporter Editor for marketwatch.com. Chief Executive Robert Schottenstein said housing conditions remain “choppy” heading into 2019.MHO, +14.27% shot up 13.0% toward an 8-month high midday trade Tuesday, enough to pace gains among its homebuilder peers, after the company reported upbeat fourth-quarter results.That puts the shares on track for the biggest one-day gain since December 2011. Source: marketwatch.com

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A robust job gain in January shows US economy’s durability

“The government on Friday also sharply revised down its estimates of job growth in November and December” reports thebusinessjournal.com. Swonk cautioned that some quirks likely inflated last month’s job gain.Last month’s healthy job gain will assuage some concerns that had arisen about the U.S. economy.The healthy gain the government reported Friday illustrated the job market’s resilience nearly a decade into the economic expansion. Source: thebusinessjournal.com

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