Posted: October 16, 2018 AP Stocks surge on earnings and economic data; Dow climbs 500 October 16, 2018 NEW YORK (AP) — World stock markets are rallying Tuesday, and U.S. stocks are on track for their second-largest gain in 2018 following strong earnings reports from major U.S. companies in finance and health care. Technology companies are also rising after their recent slump. The Dow Jones Industrial Average rose as much as 502 points.Even with the big gains, major indexes are still broadly lower for the month following a two-day rout last week that erased nearly 1,400 points from the Dow.Investors were encouraged by some good news on the economy. The Federal Reserve said output by U.S. factories, mines and utilities climbed in September despite the effects of Hurricane Florence, and the Labor Department said U.S. employers posted the most jobs in two decades in August while hiring continued to increase.KEEPING SCORE: The S&P 500 index jumped 54 points, or 2 percent, to 2,805 as of 2:45 p.m. Eastern time. The Dow gained 494 points, or 2 percent, to 25,745.The Nasdaq composite climbed 192 points, or 2.6 percent, to 7,623 as technology companies reversed some of their outsize losses from the last few days. The Russell 2000 index of smaller-company stocks rose 39 points, or 2.6 percent, to 1,592.Earnings for U.S. companies climbed about 20 percent in each of the first two quarters of 2018 as economic growth picked up and corporate taxes were slashed. Analysts expect similar results in the current period.Stocks have gyrated over the last three days following a six-day losing streak that included some of their biggest declines of the year. The S&P 500 fell 6.9 percent from its record high on Sept. 20 to its recent low on Thursday. It remains 4.3 percent below that record level.HEALTHY…: UnitedHealth, the largest U.S. health insurer and provider of privately-run Medicare Advantage plans, once again topped Wall Street forecasts and raised its projections for the year. The stock climbed 4.1 percent to $270.95. Other health insurers also rose. Cigna advanced 3.8 percent to $211.70 and Humana rose 3.4 percent to $327.90. Medicaid service company Molina Healthcare jumped 4.1 percent to $144.26.Health care products giant Johnson & Johnson added 1.4 percent to $135.89 after it said prescription sales jumped. Its results, too, were stronger than analysts expected.…AND WEALTHY: Morgan Stanley rose 5.7 percent to $45.94 and Goldman Sachs added 2.4 percent to $220.38 after the two investment banks did better than expected in the third quarter, helped by strong performance in their trading operations and better-than-expected revenue from stock underwriting. Morgan Stanley’s stock has fallen 12 percent this year and Goldman has lost almost 14 percent.TECH UPDATE: Technology companies rose. Microsoft jumped 2.8 percent to $110.65 and Adobe rallied 8.6 percent to $258.36 after it backed its fourth-quarter profit and revenue forecasts. The stock has jumped 47 percent this year, but had slumped in recent days. Internet companies also advanced. Alphabet, Google’s parent company, rose 2.4 percent to $1,128.80.Email delivery company Sendgrid climbed 14.8 percent to $35.50 after cloud communications platform company Twilio agreed to buy it for $36.92 per share in stock, or $1.7 billion. Twilio fell 3.4 percent to $73.56.SUSPENSE FOR NETFLIX: Netflix rose 2.7 percent to $342.04 ahead of its third-quarter report Tuesday afternoon. The streaming video company has struggled over the past three months and has fallen almost 20 percent since its second-quarter report, when it posted disappointing subscriber totals and gave a weaker forecast than analysts expected.It’s still up 78 percent this year, the third-best of any S&P 500 stock.O CANNABIS: On Wednesday Canada will legalize marijuana nationwide. While cannabis companies mostly traded lower Tuesday, the stocks have made huge gains this year in highly volatile trading. Tilray fell 5.7 percent to $156.27 while Canopy Growth shed 7.1 percent to $52.87.On Tuesday Benchmark Capital analyst Mike Hickey started coverage of Tilray with a $200 price target, saying its supply deals with pharmacies and a partnership with drugmaker Novartis will help make it an early leader in the market. Hickey valued the Canadian cannabis market at about $3.2 billion in 2019 and said it will climb to $8.1 billion by 2023.Tilray’s market value stands at $14.5 billion, up ninefold since it went public in mid-July, and Canopy Growth has more than doubled in value to $12 billion. Canopy announced a $4 billion investment from Corona beer maker Constellation Brands in August. The huge gains reflect investors’ view that that other countries will legalize marijuana in the years to come.ENERGY: U.S. benchmark crude oil added 0.2 percent to $71.92 per barrel in New York. Brent crude, the international standard, rose 0.4 percent to $81.14 per barrel in London.Wholesale gasoline rose 1.7 percent to $1.98 a gallon and heating oil picked up 0.6 percent to $2.34 a gallon. Natural gas lost 0.1 percent to $3.24 per 1,000 cubic feet.BONDS: Bond prices edged lower. The yield on the 10-year Treasury note rose to 3.17 percent from 3.16 percent.METALS: Gold rose 0.1 percent to $1,231 an ounce. Silver lost 0.2 percent to $14.70 an ounce. Copper slipped 0.3 percent to $2.78 a pound.CURRENCIES: The dollar rose to 112.27 yen from 111.88 yen. The euro fell to $1.1577 from $1.1584.OVERSEAS: France’s CAC 40 added 1.5 percent while the DAX in Germany jumped 1.4 percent. Britain’s FTSE 100 rose 0.4 percent. Italy’s FTSE MIB jumped 2.2 percent after the government avoided last-minute delays in presenting a budget plan.Japan’s benchmark Nikkei 225 rallied 1.2 percent and the Kospi in South Korea was little changed. Hong Kong’s Hang Seng index finished 0.1 percent higher. AP, Categories: Local San Diego News, National & International News FacebookTwitter
When it comes to acquiring new customers, almost half the executives said paid social media is the top-performing channel. But programmatic displays ads were cited by one-third as a good way to acquire customers. Meanwhile, marketers seem to be getting their heads around the complexities of programmatic’s attribution component. The survey found 84 percent find it critical or very important to marketing success, up from 35 percent in 2014. But, says Berke, “The right way to approach attribution is becoming increasingly complex.” Billed as a state-of-the-industry status update on how marketers are employing “retargeting, programmatic advertising, and performance marketing,” the study is based on a survey of more than 1,000 advertising and marketing executives, designed to assess how companies are thinking about—and adapting to—all of the new opportunities afforded by programmatic advertising. The study also explored the current thinking around e-mail marketing. It’s still a popular channel among both B2C and B2B marketers. Fifty-eight percent say engagement is their primary aim with e-mail, while 40 percent use it for loyalty campaigns. Engagement, open rate, and direct revenue generated were the leading gauges for e-mail success. Programmatic’s reach is expanding, too. One-third said they’re using it for mobile buys; 25 percent for television; and one-fifth for video. And for B2C advertisers, programmatic guides ever more social media placement; it’s now 50 percent more popular than programmatic display ads. This year’s survey found almost 40 percent of marketers were tracking campaigns using an attribution model with multiple touch points. That’s up from 24 percent in AdRoll’s survey last year. Marketers are also expressing more confidence in their understanding of it; just seven percent reported feeling unsure about how to approach attribution, down from 16 percent a year ago. It finds that programmatic ad buying is consuming an ever larger share of ad budgets. In 2015, 32 percent of marketers were using it to place more than half of their ad budgets. That’s up from 14 percent in 2014 and seven percent in 2013. One-third of marketers say they’re spending more than half of their total ad budget on programmatic. Two-thirds said they expect to increase their programmatic buying this year. Advertisers are embracing programmatic advertising in all of its forms, budgeting more for it, exploring new media platforms and applications, and strategizing ways to extract more value from its use. The study also found that advertisers are looking for new ways to employ retargeting. It’s made the biggest inroads on mobile and social media platforms, but the study reveals marketers are eager to see how it can be leveraged more broadly. When it comes to mobile retargeting, 87 percent said they planned to increase that investment in 2016. Of those who aren’t currently doing it, almost two-thirds said it was because they don’t have either a mobile app or mobile site. That’s the upshot of a new study by programmatic advertising company AdRoll. In his discussion of the findings, Adam Berke, AdRoll president and CMO, said, “Many marketers are starting to consider the retargeting potential of other platforms, particularly those with massive, built-in audiences who’ve shown plenty of shopping and sharing intent.” Digging deeper, the survey found a 107 percent increase in the number of marketers attributing more than 75 percent of conversions to view-throughs for online display campaigns. “Marketers are recognizing the importance of VTCs,” Berke writes, but “still, there are areas of attribution that need more attention, such as viewability tracking and attribution of multiple touches.” Taking a big-picture look at advertising and marketing, the survey found executives are spreading their bets and paying close attention to how to allocate their budgets along the customer life cycle. Overall, it found that one-third of an ad budget is earmarked for prospecting for new leads, and another third goes into the conversion effort. After that, the budget goes to activating or upselling, and retaining and driving loyalty. Leading performance indicators for mobile retargeting are an increase in conversions, an increase in app installs, and an increase in overall reach. The biggest challenges were deemed to be lack of attribution transparency, users not converting on mobile, and a lack of analytics tools.
Oil fell on Wednesday as the International Energy Agency (IEA) warned that a global supply glut continued to weigh on prices and data showed an unexpected weekly gain in U.S. crude stocks.The IEA, which advises industrialized nations on energy policies, said crude inventories kept rising last month and pushed floating storage, one of the most expensive methods of stockpiling, to the highest level in seven years.”(Stocks) are at such elevated levels, especially for products for which demand growth is slackening, that they remain a major dampener on oil prices,” the Paris-based IEA said in its latest report.Stocks of U.S. crude and refined products rose unexpectedly last week by 2.2 million barrels, data from the American Petroleum Institute, an industry group, showed late on Tuesday.This provided further bearish impetus to the market a day after prices had risen 5 percent, giving investors a chance to lock in gains.The U.S. government’s Energy Information Administration (EIA) releases official weekly inventory data at 1430 GMT on Wednesday.Global benchmark Brent oil LCOc1 was down 76 cents at $47.71 a barrel at 0850 GMT after settling up $2.22, or 4.8 percent, in the previous session.U.S. crude CLc1 traded at $46.20 a barrel, down 60 cents on Tuesday’s close.The U.S. dollar .DXY rose, making dollar-denominated oil less attractive for holders of other currencies.The IEA also raised its forecasts for 2016 and 2017 oil demand growth by 0.1 million barrels per day to 1.4 million bpd and 1.3 million bpd, respectively.”Therefore any weakness based on the IEA report should be short-lived,” said Tamas Varga, oil analyst at London brokerage PVM Oil Associates.Credit Suisse raised its 2016 oil price forecasts on Wednesday. The bank forecast U.S. crude would average $43.59 per barrel this year versus $36.91 in its earlier forecast, and $55.00 for 2017, versus $52.88 earlier.Brent will average $44.53 a barrel this year, up from $37.77, and average $56.25 in 2017, up from $54.25 earlier.
Listen X Share 00:00 /16:15 Is Houston closer than ever to getting an NHL team?New Houston Rockets owner Tilman Fertitta recently met with National Hockey League officials as part of what he describes as the “very early stage of evaluating what opportunities may exist” to either relocate an NHL franchise here or establish an expansion team in Houston.But Houston is not the only city the league might consider for expansion or relocation. Efforts have long been underway in Seattle, Quebec City, and Kansas City – among other communities – to try to establish an NHL franchise.Houston Matters explores the reasons why Houston would seem to have an edge (market size, a hockey-ready arena, an interested owner, etc.) at this moment in bringing a team to town, whether more than one city might be in line for a franchise, and what remains to be determined in order for it to happen here.Joining Houston Matters host (and hockey aficionado) Craig Cohen for this conversation are John Royal, a writer for the Houston Press (who covered Houston’s last hockey team — the Aeros), and Greg Rajan, online sports editor for the Houston Chronicle.MORE: Hockey Is Coming to Houston. It’s Just a Matter of When NHL.com To embed this piece of audio in your site, please use this code:
Krishnagar: Accusing the Centre of running parallel governments in states, Chief Minister Mamata Banerjee on Thursday announced that her government will withdraw from the Ayushman Bharat health insurance scheme.Addressing a gathering at Krishnagar Government College ground after giving away prizes to the winners of the first Jaltarang Sports festival, she said letters bearing the photograph of Prime Minister Narendra Modi along with health cards under Ayushman Bharat scheme were being sent to individuals. The logo embossed on the letter is a lotus which is also the official party symbol of the BJP. “This is cheating. Where is the budget to provide medical assistance to the beneficiaries,” she wondered and added: “The Centre collects various kinds of taxes from the states and gives back a percentage of the collected amount. Thus, the states have a share. But the BJP is projecting it in such a manner as if it is giving the medical assistance to them.” Also Read – 3 injured, flight, train services hit as rains lash BengalThe Chief Minister said under the Constitution, health, education and law and order are State subjects and she failed to understand why the Centre is intervening into the matter. “What does Modi think of himself? Is he trying to run parallel governments in the states? I will request all the states to intensify vigil and stop this nasty practice,” she said. Banerjee further added: “The new government in Delhi will ensure that the federal structure in our country is strengthened. ” Also Read – Speeding Jaguar crashes into Mercedes car in Kolkata, 2 pedestrians killedShe said in case of crop insurance of the farmers, the Centre gives only 20 percent of the premium and publishes the picture of the Prime Minister to give a message to the farmers as if the BJP is giving the money to them. “We have decided to pay the premium on our own and have paid Rs 625 crore in 2018. Everywhere the BJP is playing dirty politics to mislead people,” she maintained. Banerjee said 10 percent reservation for economically challenged general caste “is another big hoax. Modi is lying to the masses and whenever an election comes, the quantum of lies go up. Have you received Rs 15 lakh which he had announced before the 2014 election.” She alleged that Modi has destroyed the institutions like CBI, ED and even RBI. “He has a big mouth and talks a lot. He should buy two mirrors — one to see his face and the other to see him talking. Even when he gives speeches in English, they are manipulated. When we speak, we make mistakes but we never use technology to project ourselves as flamboyant orators.” Banerjee laid the foundation stone of Kanyashree University and said a country can make progress if girls are looked after properly. She added that Kanyashree has helped girls to pursue higher education and a day will come when girls from Bengal will reach the top in every sphere of life.