DJIA: 16,351.38  +293.03 (1.82%) | NASDAQ: 4,749.979  +113.874 (2.46%) | S&P 500: 1,948.86  +35.01 (1.83%) Markets status unavailable

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    Oil futures staged an intraday U-turn on after earlier dip below $44 a barrel. Analysts attributed the turn higher to the market digging deeper into the details of the latest U.S. supply data as well as to technical trading. Phil Flynn, senior market analyst at Price Futures Group, pointed out increasing tensions linked to Artic oil supplies.

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    Shares of Encana Corp. (ECA) are higher by 0.73% to $6.87 in mid-afternoon trading on Wednesday, as oil prices shake off today's earlier losses. Crude oil is up by 1.89% to $46.27 per barrel this afternoon and Brent crude is up by 2.04% to $50.57 per barrel, according to the CNBC.com index.

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    After Tuesday's shellacking in which the S&P 500 fell 3%, stocks are on the mend on Wednesday, with the index climbing 1.2%. . Historically speaking, the odds favor the index retesting last week's lows around 1,867, Josh Brown, CEO and co-founder of Ritholtz Wealth Management, said on CNBC's "Fast Money Halftime" show.

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    * Energy stocks swing with volatile oil prices; airlines gain. * Utility index down as treasury yields rise. * Ambarella's forecast drags on stock and GoPro. * Indexes up: Dow 1.34 pct, S&P 1.17 pct, Nasdaq 1.49 pct. By Sinead Carew. Sept 2 - U.S. stocks were up more than 1 percent on Wednesday afternoon supported by U.S. data and technology stocks led a rebound from Tuesday's steep losses.

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    Shares of Banco Bradesco   are falling by 0.17% to $6.03 in midday trading on Wednesday, as Brazil's economic slowdown weighs on some Brazil-based U.S. traded stocks. The country's industrial production fell 1.5% in July from the previous month, down 8.9% from July 2014, the Brazilian Institute of Geography and Statistics announced today.

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    About 30% of Nasdaq members are in bear-market territory. Major stock-market are still considered in correction territory, even as they have recovered somewhat from their August lows-- but many individual stocks remain much more badly battered. One in five of S&P 500 stocks have plunged 20% or more in 2015 through Tuesday's close, according to FactSet.

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    The stolid U.S. expansion has been driving the world economy this year, helping to offset a slowdown in China and emerging economies that once fueled global growth.A private survey of the American job market released Wednesday morning showed the country added 190,000 jobs in August, up from the previous month. Most of the hiring came from small- and medium-sized businesses, and many of the positions were in professional fields and in trade, transportation and utilities.Wall Street took heart from those results Wednesday following a bruising sell-off a day ago. The major U.S. indices up about 1 percent in the first half hour of trading.“Recent global financial market turmoil has not slowed the U.S. job market, at least not yet," said Mark Zandi, chief economist at Moody's Analytics, which compiled the report for payroll processor ADP.But the hiring was not as robust as analysts had anticipated, raising worries that Friday's more comprehensive tally of job creation by the Labor Department may also be weaker than expected. Meanwhile, new cracks are appearing in the world economy that threaten to undercut U.S. momentum.“We expect global growth to remain moderate and likely weaker than we anticipated last July,” International Monetary Fund Executive Director Christine Lagarde said in a speech on Tuesday in Indonesia. “This reflects two forces: a weaker than expected recovery in advanced economies and a further slowdown in emerging economies.”The IMF has already pared its forecast once this year to a 3.3 percent annual global growth rate, a slower pace than 2014. At risk now are its estimates for Asia, which was expected to enjoy the fastest expansion. China is the biggest unknown, though Lagarde remained optimistic despite acknowledging that a slowdown is occurring.“The transition to a more market-based economy and the unwinding of risks built up in recent years is complex and could well be somewhat bumpy,” she said Tuesday. “That said, the authorities have the policy tools and financial buffers to manage this transition.”Markets seemed determined to test that confidence on Tuesday as U.S. indices plunged following a sell-off that began in Asia. The blue-chip Dow Jones industrial average sunk about 470 points, putting the index back in correction territory. A correction occurs when an index falls 10 percent below a recent high.The catalyst for the selloff appeared to be a drop in an official measure of manufacturing in China, putting it at a three-year low. Chinese officials have been trying — with mixed success — to shift their massive economy away from export-driven industries and stoke consumer demand at home.But China was not the only trouble spot in the global economy. Government data released this week showed Canada slipped into a recession during the first half of the year.The Canadian economy shrank at a 0.5 percent annual rate during the second quarter, according to figures released Tuesday. The decline followed a 0.8 percent annualized dip in the first quarter as business investment dropped off amid plummeting oil prices.“The sharp decline in global commodity prices has created a stark divide between resource-importing and resource-exporting nations. Those in the latter group enjoyed more than a decade of success before falling back to earth in recent years,” Royal Bank of Canada (RY) chief economist Eric Lascelles said. “The ailment has changed, but the global economy continues to limp along.”The turmoil is complicating the Federal Reserve’s decision over when to begin withdrawing its support for the U.S. economy. The central bank slashed its benchmark interest rate to zero at in the midst of the 2008 financial crisis and has left it there ever since as the recovery found its footing.But with the unemployment rate at 5.3 percent, Fed officials believe it is reaching its lowest sustainable level. They are considering raising its interest rate for the first time in nearly a decade, with some analysts predicting they could move when they meet in Washington in less than three weeks. Fed Chair Janet Yellen has said she expects to be able to increase the target rate before the end of the year.The move, whenever it comes, is intended to be a reflection of the Fed’s confidence in the U.S. recovery. Indeed, despite the grim international news this week, data showed construction spending in the America reached a seven-year high in July, driven in part by single-family housing, which has struggled to bounce back after the real estate bust. Auto sales jumped in August, surpassing analyst expectations.But the possibility of a fumble by the Fed has kept investors and economic policymakers around the world on high alert. In a speech Tuesday, Boston Fed President Eric Rosengren tried to emphasize that even after the central bank raises its rate, subsequent increases will occur only gradually.“The more gradual tightening cycle should enable monetary policymakers to gauge how tight labor markets can be while maintaining stable prices,” he said.






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    The stolid U.S. expansion has been driving the world economy this year, helping to offset a slowdown in China and emerging economies that once fueled global growth.A private survey of the American job market released Wednesday morning showed the country added 190,000 jobs in August, up from the previous month. Most of the hiring came from small- and medium-sized businesses, and many of the positions were in professional fields and in trade, transportation and utilities.Wall Street took heart from those results Wednesday following a bruising sell-off a day ago. The major U.S. indices up about 1 percent in the first half hour of trading.“Recent global financial market turmoil has not slowed the U.S. job market, at least not yet," said Mark Zandi, chief economist at Moody's Analytics, which compiled the report for payroll processor ADP.But the hiring was not as robust as analysts had anticipated, raising worries that Friday's more comprehensive tally of job creation by the Labor Department may also be weaker than expected. Meanwhile, new cracks are appearing in the world economy that threaten to undercut U.S. momentum.“We expect global growth to remain moderate and likely weaker than we anticipated last July,” International Monetary Fund Executive Director Christine Lagarde said in a speech on Tuesday in Indonesia. “This reflects two forces: a weaker than expected recovery in advanced economies and a further slowdown in emerging economies.”The IMF has already pared its forecast once this year to a 3.3 percent annual global growth rate, a slower pace than 2014. At risk now are its estimates for Asia, which was expected to enjoy the fastest expansion. China is the biggest unknown, though Lagarde remained optimistic despite acknowledging that a slowdown is occurring.“The transition to a more market-based economy and the unwinding of risks built up in recent years is complex and could well be somewhat bumpy,” she said Tuesday. “That said, the authorities have the policy tools and financial buffers to manage this transition.”Markets seemed determined to test that confidence on Tuesday as U.S. indices plunged following a sell-off that began in Asia. The blue-chip Dow Jones industrial average sunk about 470 points, putting the index back in correction territory. A correction occurs when an index falls 10 percent below a recent high.The catalyst for the selloff appeared to be a drop in an official measure of manufacturing in China, putting it at a three-year low. Chinese officials have been trying — with mixed success — to shift their massive economy away from export-driven industries and stoke consumer demand at home.But China was not the only trouble spot in the global economy. Government data released this week showed Canada slipped into a recession during the first half of the year.The Canadian economy shrank at a 0.5 percent annual rate during the second quarter, according to figures released Tuesday. The decline followed a 0.8 percent annualized dip in the first quarter as business investment dropped off amid plummeting oil prices.“The sharp decline in global commodity prices has created a stark divide between resource-importing and resource-exporting nations. Those in the latter group enjoyed more than a decade of success before falling back to earth in recent years,” Royal Bank of Canada (RY) chief economist Eric Lascelles said. “The ailment has changed, but the global economy continues to limp along.”The turmoil is complicating the Federal Reserve’s decision over when to begin withdrawing its support for the U.S. economy. The central bank slashed its benchmark interest rate to zero at in the midst of the 2008 financial crisis and has left it there ever since as the recovery found its footing.But with the unemployment rate at 5.3 percent, Fed officials believe it is reaching its lowest sustainable level. They are considering raising its interest rate for the first time in nearly a decade, with some analysts predicting they could move when they meet in Washington in less than three weeks. Fed Chair Janet Yellen has said she expects to be able to increase the target rate before the end of the year.The move, whenever it comes, is intended to be a reflection of the Fed’s confidence in the U.S. recovery. Indeed, despite the grim international news this week, data showed construction spending in the America reached a seven-year high in July, driven in part by single-family housing, which has struggled to bounce back after the real estate bust. Auto sales jumped in August, surpassing analyst expectations.But the possibility of a fumble by the Fed has kept investors and economic policymakers around the world on high alert. In a speech Tuesday, Boston Fed President Eric Rosengren tried to emphasize that even after the central bank raises its rate, subsequent increases will occur only gradually.“The more gradual tightening cycle should enable monetary policymakers to gauge how tight labor markets can be while maintaining stable prices,” he said.






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    Metal weakens as dollar, global markets rebound. Gold futures settled lower on Wednesday, for their sixth loss in eight sessions, as upbeat U.S. economic data provided a boost to the dollar and investors turned their attention to a rally in the stock market. Gold futures for December delivery lost $6.20, or 0.5%, to settle at $1,133.60 an ounce on Comex, following a gain of 0.6% a day earlier.

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    U.S. stocks held on to gains on Wednesday even after the Federal Reserve's Beige Book suggested increasing wage pressure. The S&P 500 rose 20 points, or 1%, to 1,933 while the Dow Jones Industrial Average climbed 193 points, or 1.2%, to 16,250. Wage pressures could push Fed officials to view an interest-rate hike more favorably as it could contribute to accelerating inflation. (END) Dow Jones Newswires 09-02-15 1412 ET Copyright (c) 2015 Dow Jones& Company, Inc..

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    * Energy stocks swing with volatile oil prices; airlines gain. * Utility index down as treasury yields rise. * Ambarella's forecast drags on stock and GoPro. * Indexes up: Dow 1.34 pct, S&P 1.17 pct, Nasdaq 1.49 pct. By Tanya Agrawal.

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    Nabors Industries  stock is slumping by 2.47% to $10.67 in midday trading on Wednesday, as oil prices fall on renewed supply concerns amid fresh data. U.S. crude stockpiles gained last week by 4.7 million barrels, according to data released today by the Energy Information Administration.

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    Chesapeake Energy  stock is slumping by 2.65% to $7.34 in midday trading on Wednesday, as lower oil prices weigh on stocks within the energy and oil sector. Crude oil is falling by 1.43% to $44.76 per barrel this afternoon, and Brent crude is down by 0.89% to $49.12 per barrel, according to the CNBC.com index.

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    Shares of Marathon Oil (MRO) were falling 2.9% to $16.37 Wednesday as oil prices continued falling for a second day. WTI crude oil for October delivery was 4.05% to $43.57 a barrel Wednesday morning, and Brent crude oil for October delivery was down 2.99% to $48.08 a barrel. Oil prices were falling after U.S. crude inventories increased more than expected last week, according to Reuters.

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    By Sam Forgione NEW YORK, Sept 2 (Reuters) - Investors in U.S.-based mutual funds pulled $11 billion out of stock funds in the week ended Aug. 26, data from the Investment Company Institute (ICI) showed on Wednesday, as concerns over slowing growth in China sent stock markets tumbling. The outflows from stock funds were the most since early October 2012, according to the data from ICI, a U.S. mutual fund trade organization. Funds that specialize in U.S. shares posted $9.8 billion in outflows, while funds that mainly hold foreign stocks recorded $1.2 billion in withdrawals. The outflows from funds that specialize in U.S. stocks were the biggest in six weeks and continued a streak of outflows that began in late February, while the withdrawals from international-focused stock funds were the first of the year and the biggest since last December. Investors pulled $12.1 billion from bond funds for the fifth straight week of outflows and the biggest withdrawals since early October 2014. Alan Lancz, president of investment advisory firm Alan B. Lancz & Associates Inc in Toledo, Ohio, attributed the outflows from bond funds to investors' desire to raise cash and concerns of a possible Federal Reserve rate hike this year or in early 2016. Hybrid funds, which can invest in stocks and fixed income securities, posted $4.3 billion in outflows, their biggest since mid-November 2011. "China has a big influence on global growth and the turnaround since the financial crisis. With the lessening of that engine of growth and with the U.S. still fairly anemic by historical standards, it definitely concerns investors," Lancz said. The benchmark S&P 500 sank 6.7 percent over the weekly period. Europe's FTSEurofirst 300 of top regional shares tumbled 8.3 percent over the period. The following table shows estimated ICI flows for the past five weeks (all figures in millions of dollars): 8/26/2015 8/19 8/12 8/5 7/29 Total equity -10,989 -543 1,626 -3,672 -1,423 Domestic -9,789 -5,199 -2,274 -7,250 -5,220 World -1,200 4,656 3,900 3,578 3,798 Hybrid* -4,270 -360 -394 -541 -779 Total bond -12,072 -2,284 -2,659 -4,410 -4,798 Taxable -11,357 -2,334 -2,649 -4,305 -4,706 Municipal -715 50 -10 -105 -91 Total -27,331 -3,187 -1,426 -8,624 -6,999 *Hybrid funds can invest in stocks and/or fixed income securities. (Editing by Jennifer Ablan and Jeffrey Benkoe)

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     Seadrill stock is down 4.77% to $7.18 in mid-day trading on Wednesday, after a rise in U.S. crude inventories caused oil prices to decline. WTI crude is falling 4.29% to $43.46 per barrel, while Brent crude is declining 3.03% to $48.06 per barrel, according to the CNBC.com index.

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    U.S. interest rates should be raised this month, but Federal Reserve policy makers have only made it harder on themselves to finally pull the trigger, according to bond-market heavyweight Bill Gross. Gross also recommends that investors keep plenty of cash or "near cash" on hand as global turmoil plays out and as the Fed's Janet Yellen sorts out her game plan for lifting rates for the first time in nearly a decade. A move by the Fed is poised to be "labeled' too little, too late,'" said Gross,...

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     Oasis Petroleum stock is decreasing by 5.66% to $9.84 in mid-day trading on Wednesday, as an increase in U.S. crude inventories drives oil prices down. WTI crude is down 4.21% to $43.50 per barrel, while Brent crude is declining 2.7% to $48.22 per barrel, according to the CNBC.com index.

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    Denbury Resources  stock is down by 3.15% to $3.54 in early afternoon trading on Wednesday, amid lower oil prices after data showed U.S. crude stockpiles unexpectedly increased. Crude stockpiles were higher by 4.7 million barrels in the U.S. last week, compared to analysts' expectations of 100,000 barrels, according to Energy Information Administration data released today.

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    Schlumberger shares are down 1.56% to $74.24 in afternoon trading on Wednesday as falling crude prices take their toll on oil prices today. Industry standard Brent crude for October delivery is down 1.65% to $48.74 per barrel. Oil prices are falling after government data showed that U.S. crude stockpiles rose unexpectedly by 4.7 million barrels last week, the largest one-week increase since April.