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Is Germany already in a ‘technical’ recession? These economists think so

Investors are worried that a global slowdown led by China could begin to sap U.S. growth, but it’s Europe that’s looking a little sickly at the moment. Expectations that Germany, Europe’s largest economy, could post a second consecutive quarter of falling gross domestic product were on the rise after a dismal reading on November industrial production last week, which showed a 1.9% fall, defying a forecast for a 0.3% rise. “Industrial production data was a proper disappointment this month. Our German GDP tracker has…

Canopy Growth Shares Surge on NY State Hemp Farm License

Shares of Canopy Growth Corp. (CGC)  jumped more than 10% on Monday after the company said it has been granted a license by New York State to process and produce hemp. Canopy Growth shares gained $4.24 to $42.49 in trading on the New York Stock Exchange after the company said it will establish large-scale production capabilities focused on hemp extraction and product manufacturing within New York state, the company said in a statement. Canopy Growth plans to invest between $100 million and $150 million in its New York…

American Airlines Falls After Weaker Fourth-Quarter Outlook

Shares of American Airlines Group Inc. (AAL)  fell on Thursday after the company said it now expects fourth-quarter revenue to come in at the lower end of expectations. The stock slid 4.1% to $32.04 a share. The company said in an investor update Thursday it now expects fourth-quarter revenue to rise 1.5% year over year, which is at the lower end of the 1.5% to 3.5% forecast. "This change is due primarily to a lower than anticipated improvement over a strong fourth quarter of 2017 in the domestic market," the update…

Treasury yields come off session lows after lackluster bond auction

Treasury yields came off their intraday lows Thursday after sloppy results for a bond auction weighed on trading for government paper. The 10-year Treasury note yield TMUBMUSD10Y, -0.50%  was mostly unchanged at 2.731%, after bouncing off a session low at 2.680%, while the two-year note yield TMUBMUSD02Y, -0.47%   was mostly flat at 2.565%. The 30-year bond yield TMUBMUSD30Y, -0.56%  rose 2.6 basis points to 3.051%, logging its fifth straight session of yield gains. Bond prices move in the opposite direction of yields.…

Oil ends higher on U.S.-China trade talks, OPEC supply cuts

Oil futures rose on Monday, buoyed by optimism tied to trade talks between the U.S. and China as well as output reductions by major oil producers, but settled well below the session’s highs as Goldman Sachs cut its price forecast on worries over energy demand and the potential for a supply surplus. Saudi Arabia plans to cut its crude exports by 800,000 barrels a day from around 7.9 million barrels a day in November, in a move aimed at lifting prices above $80 a barrel, The Wall Street Journal reported, citing comments…

Yen soars against dollar in late trading

The yen surged against the dollar in late New York trading Wednesday, as a weaker-than-expected sales forecast from Apple Inc. and Chinese data raised concerns over a slowing global economy. The dollar was recently down 1.5% against the Japanese yen at 107.20. Other currencies sensitive to China and global growth, such as the Australian dollar, were also lower. Apple lowered its sales forecast for its fiscal first quarter, a rare revision to its guidance, blaming slowing sales of smartphones and other devices in China.…

Strong Macau Numbers Provide Boost for Wynn, Las Vegas Sands, Casino Stocks

The latest numbers for Macau have casino stocks with exposure to the region popping Wednesday as investors celebrated 29 consecutive months of revenue growth. Gambling revenue in Macau, China's lone legalized gaming hub, rose 14% in 2018, the second consecutive year of gains for the region. December revenue rose 16.6% to $3.3 billion, exceeding the 10% to 15% increase analysts polled by Reuters were expecting. For the full year, Macau brought in $37.6 billion. December's increase was the region's biggest gain in four…

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