Author: FX

MF3d/iStock via Getty Images Albemarle (NYSE:ALB) +2.5% post-market Monday after disclosing preliminary Q4 adjusted earnings of $8.35-$8.75/share, above the market consensus estimate of $7.87, while targeting FY 2023 adjusted EPS of $26-$33, in line with expectations of $28.08. Albemarle (ALB), which is scheduled to report Q4 results after the market closes February 15 and host its virtual 2023 strategy update tomorrow, also estimated Q4 revenues of $2.59B-$2.65B, in line with Wall Street estimates of $2.61B, and adjusted EBITDA of $1.21B-$1.26B, more than 5x higher than the year-earlier quarter. For FY 2023, the lithium producer targeted net sales of $11.3B-$12.9B and…

© Reuters. U.S. Treasury Secretary Janet Yellen gives a speech after she visited the House of Slaves (Maison des Esclaves) at Goree Island off the coast of Dakar, Senegal January 21, 2023. REUTERS/Ngouda Dione By Andrea Shalal LUSAKA (Reuters) -U.S. Treasury Secretary Janet Yellen said on Monday during a visit to Zambia that it was critically important to restructure the country’s debt, and she believes progress could be made after her frank talks with key creditor China last week. Yellen added that Zambia’s debt overhang was a drag on its whole economy and that China had been a barrier to…

The party continued on US exchanges on Monday: Now, I’m not the one to stand in front of a freight train. But … from The Conference Board in the US, data on Monday showed: its Leading Economic Index slid 1.0% in Decemberthe November reading was revised lower to 1.1% in NovemberDecember’s fall exceeded all 22 forecasts in a poll of economists by Reuters, which had a median expectation of a decline of 0.7%it’s the 10th straight month of fallsThe LEI is now down 4.2% over the six-month period between June and December 2022. This is a much steeper rate of…

GBP/USD is showing a lackluster performance as investors await US/UK PMIs for fresh cues. The Fed might decelerate its interest rate hike pace again to 25 bps in its February policy meeting. UK’s Manufacturing PMI might trim to 45.0 while Services PMI to remain steady at 49.9. The GBP/USD pair is displaying topsy-turvy moves around 1.2380 as investors are awaiting the release of the S&P PMI number for the United States and the United Kingdom for fresh impetus. The Cable is demonstrating signs of volatility contraction as market sentiment has been caught by caution. S&P500 futures are showing marginal losses after…

Funtay Commodities are set up for a “bullish concoction” in 2023, looking at “superior total returns” that should outperform other asset classes, Goldman Sachs analysts said Monday in a new research report, according to Kitco.com. Commodity prices surged in last year’s H1 before declining due to rising interest rates and lower demand, but Goldman head of commodities research Jeff Currie expects a very positive 2023 as China reopens amid low inventories. In the oil market, several drivers are not priced to their fullest extent, Goldman said “Oil markets are not pricing the expected uplift in demand combined with the downturn…

© Reuters. FILE PHOTO: U.S. Trade Representative Katherine Tai attends the APEC Leaders’ Informal Dialogue with Guests during the Asia-Pacific Economic Cooperation (APEC) Summit 2022, in Bangkok, Thailand November 18, 2022. REUTERS/Athit Perawongmetha/Pool By Kanishka Singh and Tom Polansek WASHINGTON (Reuters) – U.S. agriculture and trade officials raised “grave concerns” over Mexico’s agricultural biotechnology policies in meetings with their Mexican counterparts on Monday, the office of U.S. Trade Representative (USTR) Katherine Tai said. “We made it clear today that if this issue is not resolved, we will consider all options, including taking formal steps to enforce our rights under the…

A snippet on oil from Société Générale, looking at Brent:A falling wedge generally denotes receding downward momentum; this is also highlighted by daily MACD which held on to last July’s lows and has entered positive territory. However, reclaiming the upper limit of the wedge at $89/90 is essential to affirm an extended up-move towards $94 and graphical levels of $98/100.If Brent is unable to defend the 50DMA near $84, the down move is likely to resume. Next potential supports could be at low of December at $75.10 and projections of $73/72.The below is my chart, trying to duplicate what SG…

USD/CAD is looking to extend its downside towards a weekly low around 1.3340 amid the risk-on market mood. The BoC is expected to hike interest rates further by 25 bps to 4.50% this week. Oil prices might deliver a recovery amid optimism over China’s economic recovery. The USD/CAD pair has dropped to near 1.3367 gradually in early Asia after failing to shift its auction above the round-level resistance of 1.3400. The Loonie asset is expected to stretch its downside journey to near the weekly low around 1.3340 as the risk-taking capacity of the market participants has improved. The risk appetite…

Entegris chief financial officer Greg Graves to retire Source link

3/3 © Reuters. FILE PHOTO: Mexico City’s Mayor Claudia Sheinbaum speaks near Mexico’s President Andres Manuel Lopez Obrador (not pictured) during a news conference at the Old City Hall (Antiguo Palacio del Ayuntamiento), in Mexico City, Mexico January 20, 2023. REUTER 2/3 By Cassandra Garrison and Dave Graham MEXICO CITY (Reuters) – The second major accident in the Mexico City metro in as many years and a series of recent mishaps in the transport system have piled pressure on Mayor Claudia Sheinbaum, one of the favorites to become the country’s next president. The Jan. 7 train collision that killed one person and…