News 

Retail sales drop the most since ’09…

“The December retail sales report was delayed by a 35-day partial shutdown of the federal government that ended on Jan. 25” reports cnbc.com. The Commerce Department said on Thursday retail sales tumbled 1.2 percent, the largest decline since September 2009 when the economy was emerging from recession.These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.U.S. retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at…

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Futures News Oil 

Oil prices surge by more than 2.5% as OPEC report shows big output drop

“The Organization of the Petroleum Exporting Countries said its crude output fell by 797,000 barrels a day in January, month on month, to average 30.81 million barrels a day” writes Christopher Alessi for marketwatch.com. U.S. crude futures rallied early Tuesday in New York after a closely followed monthly OPEC report showed that members of the cartel substantially reduced production in January.Earlier in the session, crude futures had already been buoyant, trading off a two-week low as optimism over tariff negotiations between Beijing and Washington officials helped to buttress prices. Source: marketwatch.com

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News Stocks 

These stocks are up double digits this year, and one has more room to run

“While the index has a multiple of 16 times forward earnings, Nike trades at 28 times, Lululmeon 34 times and Under Armour as high as 61 times forward earnings” writes Simon Dawson for cnbc.com. One of those stocks looks set for a bigger breakout, says Ari Wald, head of technical analysis at Oppenheimer.Rival Under Armour, which just reported fourth-quarter earnings and sales that topped analysts’ expectations, is struggling to break out above its own resistance level. Source: cnbc.com

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Crypto Markets News 

Bitfinex Resumes Trading After Unexpected 2-Hour Outage as Crypto Markets Surge

“According to the study that reviewed 135 crypto exchanges, Bitfinex ranked 5th for most secure exchanges globally, with an A- rating” writes Ana Berman for cointelegraph.com. Hong Kong-based cryptocurrency exchange Bitfinex notified users in a tweet Saturday, Feb. 9, that it had temporarily gone offline for all users, as crypto markets saw major gains.We can confirm Bitfinex is offline to all users. Source: cointelegraph.com

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News Stocks 

Shares of Softbank surge 17 percent after CEO Son announces ‘enormous’ stock buyback

“The stock of Japanese conglomerate Softbank skyrocketed on Wednesday after its CEO Masayoshi Son announced a share buyback following the company’s release of strong quarterly earnings” writes Kiyoshi Ota for cnbc.com. SoftBank Group said it would repurchase 112 million shares worth 600 billion yen (approx $5.46 billion) in the next 11 months, or about 10.3 percent of its total outstanding shares, excluding treasury stock. The buyback comes after SoftBank Group raised 2.35 trillion yen in December by listing about a third of the shares in SoftBank Corp, which on Tuesday…

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News 

UN warns of currency wars and widespread protectionism if trade conflict escalates

“Currency wars, widespread protectionism and billion-dollar losses could arise if the U.S. and China fail to settle their trade differences before March 1, the UN warned in a new study” writes unknown author for cnbc.com. Published by the UN Conference on Trade and Development (UNCTAD) on Monday, the report said that while some countries would see a surge in exports, negative global effects were likely to dominate.China and the U.S. have been embroiled in a trade dispute since early 2018. Source: cnbc.com

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News 

US jobs surge leaves door open to rate rise this year

“The US economy created 304,000 jobs in January, solidly beating expectations amid the federal government shutdown” writes Garry White for telegraph.co.uk. The non-farm payroll figures, a widely used measure of employment, surged past the the 2018 monthly average of 223,000, with the boost coming ¬†across a number of sectors, including construction, healthcare and transport, according to the US Bureau of Labor Statistics.The number of jobs in retail increased by 21,000 at a time when the sector in the UK is faltering.However, the figures include federal government employees who were not…

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News 

Jobless claims surge to 16-month high, but spike is likely a one-off due to seasonal quirks that will fade soon

“What happened: The jobless claims report usually produces a few odd readings between the period starting with Thanksgiving through the Martin Luther King Jr. holiday in late January” writes Jeffry Bartash for marketwatch.com. Initial jobless claims, a rough way to measure layoffs, jumped by 53,000 to a seasonally adjusted 253,000 in the seven days ended Jan. 26, the government said Thursday.Virginia, Maryland and Washington, D.C., the areas with the most federal workers, saw litttle change in weekly claims over the past month.The numbers: The number of people who applied for…

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News 

Exclusive: Ukraine says it sees surge in cyber attacks targeting election

“KIEV (Reuters) – Hackers likely controlled by Russia are stepping up efforts to disrupt Ukraine’s presidential election in March with cyber attacks on electoral servers and personal computers of election staff, the head of Ukraine’s cyber police said on Friday” writes Midwest Communications Inc for 95kqds.com. The Russian meddling to influence Ukraine’s elections is well under way,” Petro Poroshenko told foreign diplomats.Relations between Ukraine and Russia plunged following Russia’s annexation of Crimea in 2014, and Kiev has accused Russia of orchestrating large-scale cyber attacks as part of a “hybrid war”…

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