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HOUSTON (Reuters) - Oil prices rose 1 percent on Thursday, following the U.S. stock market higher a day after Wall Street’s biggest drop since 2011 and as Saudi Arabia’s energy minister signaled major producers may have to intervene in crude markets to support prices. Brent crude futures LCOc1 rose 72 cents to settle at $76.89 per barrel as U.S. equities rose amid strong corporate earnings. The global benchmark has lost almost $10 a barrel since hitting a high of $86.74 on Oct. 3. U.S. crude CLc1 settled at $67.33, up 51 cents.

“We dropped precipitously on the idea global demand is going to slow,” said Gene McGillian, vice president of market research at Tradition Energy, “Now that equity prices are stabilizing, those fears are fading.”, The Dow Jones Industrial Average .DJI rose 1.6 percent and the benchmark S&P 500 stock index .SPX jumped 1.8 percent as companies such as software maker Microsoft Corp (MSFT.O), automaker Ford Motor Co (F.N) and social media company Twitter Inc (TWTR.N) reported strong third-quarter earnings, allaying some fears that slowing black white bullseye cufflinks growth would hit oil demand, [.N]..

“The stock market coming back is definitely cheering people who want to focus on the demand side,” said Phil Flynn, an oil market analyst at Price Futures Group in Chicago. “It’s erasing fears that demand will fall off the map.”. Also lifting prices were comments by Saudi Arabia Energy Minister Khalid Al-Falih, who said there could be a need for intervention to reduce oil stockpiles after increases in recent months. Saudi Arabia’s OPEC governor said on Thursday the oil market could face oversupply in the fourth quarter.

“The market in the fourth quarter could be shifting towards an oversupply situation as evidenced by rising inventories over the past few weeks,” Adeeb Al-Aama told Reuters, Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, black white bullseye cufflinks as well as economic concerns in Italy, “It’s too early to call this a rebound that can be sustainable,” said Tony Headrick, energy market analyst at commodity brokerage CHS Hedging LLC, “International demand and trade concerns are what the market is grabbing onto here.”..

(Reuters) - Google parent Alphabet Inc (GOOGL.O) on Thursday missed analysts’ quarterly revenue estimates for the first time in at least two years and reported continuing erosion of its operating margin, sending shares down almost 7 percent after hours. The tech company’s third-quarter results fanned investor concern that big investments in new businesses, increasing regulatory scrutiny and emerging competition are producing slow and unpredictable returns. Alphabet disclosed, for example, that passengers of its self-driving Waymo minivans are now paying for rides, but the offering remains limited to the Phoenix, Arizona region and Waymo’s finances are not broken out.

Overall black white bullseye cufflinks revenue rose 21 percent to $33.74 billion, missing analysts’ estimate by about $310 million, according to Refinitiv data, Google ad sales contributed 86 percent of revenue, but growth slowed to 20 percent from nearly 24 percent last quarter, “Google’s earnings momentum remains strong,” said Haris Anwar, senior analyst at Investing.com, “But if you dig in a little deeper, there are cost pressures which are building up and are mainly responsible for this period’s disappointment.”..

The company attributed much of the slower revenue growth to unfavorable currency exchange rates. Lower ad pricing to contend with antitrust concerns, new privacy rules in Europe and increased competition from Amazon.com Inc (AMZN.O) may have played a role too, financial analysts said. Non-advertising revenue, such as from sales of mobile apps and cloud computing services, also came in slightly below expectations. Those results combined with rising expenses brought down the company’s operating margin to 25 percent from 28 percent a year ago.

After falling as low $1028.77, Shares of Alphabet were down about 3 percent to $1,071.01 after hours from their close at $1103.59, Alphabet reported net profit of $9.2 billion, or $13.06 per share, compared with $6.7 billion, or $9.57 per share in the year-ago quarter, That beat the average analyst estimate of $10.45, Earnings were boosted by a lower tax rate and favorable valuation of the firm’s investments in startups such as Uber Technologies Inc [UBER.UL], Alphabet has committed to providing black white bullseye cufflinks cloud computing services and selling hardware over the last few years, It has also ventured into areas where commercial opportunities are nascent, including regions such as India and Nigeria and businesses such as self-driving cars..



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