Oil rises ahead of US durable goods data

Pamela Sampson, AP Business Writer

BANGKOK (AP) -- The price of oil rose above $95 per barrel Tuesday ahead economic data from the U.S. that is expected to reflect a recovery in orders of durable goods.

Benchmark crude for May delivery was up 45 cents to $95.26 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose $1.10 to finish at $94.81 a barrel on the Nymex on Monday.

The U.S. Commerce Department will release data later Tuesday on February orders for factory-produced durable goods - items expected to last at least three years. Analysts at Capital Economics said in a market commentary that they expect to see a "sharply" higher number.

The consensus forecast is that orders rose 3.7 percent after a 4.9 percent drop in January.

Brent crude, used to price many kinds of oil imported by U.S. refineries, fell 17 cents to $108 a barrel on the ICE Futures exchange in London.

In other energy futures trading on the Nymex:

— Wholesale gasoline rose 0.5 cent to $3.059 a gallon.

— Heating oil was steady at $2.983 a gallon.

— Natural gas rose 4 cents to $3.905 per 1,000 cubic feet.

  • Amazon's $99 Prime problem

    Amazon's $99 Prime problem

    Amazon is in a pickle. It would probably like to raise the fees on its popular Prime membership to offset its skyrocketing shipping costs. At $99 a year, though, increasing the fee by just a buck would push membership to the psychologically important $100 barrier. Here's the rub: the inherent contradiction of Prime is the more you use its most popular service -- two-day unlimited shipping -- the more it costs Amazon. The Prime squeeze was apparent on Thursday when Amazon reported a 43 percent jump in shipping expenses to $3.9 billion as part of its third-quarter earnings. The spike helped depress the company's profit and resulted in Amazon badly missing Wall Street's expectations. Revenue continued

  • T-Mobile trolls Verizon exclusive with half-off Google Pixel offer

    T-Mobile trolls Verizon exclusive with half-off Google Pixel offer

    Exclusive, exschmoosive. T-Mobile really wants you to know that Verizon's "exclusive" to sell the red-hot Google Pixel phone isn't an exclusive at all. "Don't let the 'exclusive' advertisements fool you, the Pixel phone is tested and proven to be fantastic on our lightning fast network, and we want to help you get the best of both worlds!" said the carrier's CEO John Legere in a statement. To back up his words the company has a new limited-time offer: bring in an unlocked Pixel purchased from Verizon, Google or another vendor, sign up for T-Mobile's "One" plan, and get up to $325 cash back, equivalent to half the price of an unlocked 32GB Pixel. The money doesn't arrive in a lump sum, but over

  • Business
    Real Money

    Market Has Already Decided Election's Outcome

    I'm growing so tired of the recent trading-range action that I was hoping a bit too much that the negative reaction to Apple (AAPL) earnings and the weak action in small-caps might trigger some downside momentum. What happened instead is that the indices bounced right back and are barely unchanged. (Apple is part of TheStreet's Action Alerts PLUS portfolio.)  Breadth is still dicey at 2,600 gainers to 3,900 decliners and the small-caps indices are hanging on by their fingertips to support, but the S&P 500 is showing just a minor loss. It still isn't a very good setup for buying, but the story of this market has been -- and still is -- a lack of momentum in either direction. One question we were

  • Self-made millionaire: Don't put money in your 401(k)

    Self-made millionaire: Don't put money in your 401(k)

    The self-made millionaire refuses to play by anyone else's rules, particularly when it comes to saving money. "I would never, ever invest money in a 401(k)," Cardone tells CNBC. The popular retirement plans are "traps that prevent people from ever having enough," Cardone writes on his website.

  • BA
    Associated Press

    UPS orders 14 Boeing 747 jumbo jets to carry air freight

    The Boeing 747 revolutionized air travel and ushered in the era of jumbo jets back in the 1970s, but these days it is often used to carry packages, not people, and its future is uncertain. The hump-backed behemoth got a boost Thursday, however, when UPS announced it has ordered 14 Boeing 747-8 cargo freighters and took an option for another 14. Neither Boeing nor UPS disclosed terms of the sale.

  • Tarek and Christina El Moussa of HGTV's Flip or Flop receive a percentage of profits for house flipping classes held by Zurixx LLC
    L.A. Biz

    Tarek and Christina El Moussa of HGTV's Flip or Flop receive a percentage of profits for house flipping classes held by Zurixx LLC

    With his construction savvy and her design talents,Tarek and Christina El Moussa of HGTV's "Flip or Flop" seem to have the right formula for flipping houses for big profits. No wonder people are excited to attend classes to learn the Orange County couple's secrets. Flip or Flop is the second-most-popular show on HGTV, watched by 2.8 million Americans, many of whom dream of imitating Tarek and Christina's success. But when flipper hopefuls show up for what are advertised as free events, they are pushed to purchase courses and software that cost thousands of dollars, The Associated Press reported. The company that runs the Success Path classes, Zurixx LLC of Utah, is accused by some attendees of

  • Former Wells Fargo banker shares her story of the crushing stress from having to open so many needless customer accounts
    Business Insider

    Former Wells Fargo banker shares her story of the crushing stress from having to open so many needless customer accounts

    When news of the Wells Fargo scandal broke in September, the crushing anxiety that Angie Payden experienced as a banker there three years ago came rushing back. As a Wells Fargo banker, Payden told Business Insider she had "impossible" sales goals to reach. Richele Messick, a spokeswoman for Wells Fargo, told Business Insider that if this were the case, it would have to be determined on an individual basis.

  • Apple adds touch screen keys to MacBook Pro, price jump startles some

    Apple adds touch screen keys to MacBook Pro, price jump startles some

    By Deborah M. Todd CUPERTINO, Calif. (Reuters) - Apple Inc unveiled a revamped MacBook Pro on Thursday, adding a fingerprint reader, replacing function keys with a small touch screen and raising prices by several hundred dollars. The first redesign in several years is a sign Apple still sees a role for the product that launched the company, even though its iPhone has become the flagship product. Ben Bajarin, an analyst at Creative Strategies, described the changes as "important incremental upgrades" which would convince people with old Macs to trade up to the smaller, faster model.

  • Here’s what happens when someone is forced to retire because they’re ‘old’

    Here’s what happens when someone is forced to retire because they’re ‘old’

    Mandatory retirement is still in the workforce, and it’s causing problems as people live — and work — longer. Being compelled to leave a job because you’ve hit a certain age could impose significantly negative consequences on older employees, and experts say such a requirement shouldn’t exist at all. Pennsylvania has a ballot question coming this November that directly touches on forced retirement, asking voters if an amendment should be created to extend the age a judge can be to serve. If approved, judges would be allowed to work until they are 75, five years past the age they’re currently required to let go of the gavel. For a lot of workers today who hope to stay on the job well past 65,

  • News
    WSJ Live

    Millennial Voters Decide After 'Trump Class' at Penn State

    Donald Trump is the subject of an honors course at Penn State this fall. So how will the students studying the GOP presidential nominee cast their ballots on Election Day? WSJ's Shelby Holliday visited State College, Pa. to find out. Photo: Associated Press

  • Everyone should 'go to cash' — most just do it the wrong way

    Everyone should 'go to cash' — most just do it the wrong way

    A Bank of America fund manager survey found cash levels were at 5.8 percent in October — the highest they've been since 2001. On Wednesday, the largest weekly outflow from equity funds in five years was reported by the Investment Company Institute: close to $15 billion. Investors are worried — about bonds as the Fed moves closer to a rate hike, about the election, and about a bull market now in its eighth year and supported by a so-so economy. The nervousness has fueled an increase in cash holdings. Hedge fund billionaires, including David Tepper of Appaloosa Management, have commented on how much cash they're holding. But famed value manager Bill Miller of Legg Mason says he's holding no cash

  • Business

    CenturyLink nears deal to merge with Level 3 -sources

    CenturyLink Inc (CTL.N) and Level 3 Communications (LVLT.N) are in advanced talks to merge, according to people familiar with the matter, in a deal that would create an enterprise telecommunications player worth more than $50 billion, including debt. It would combine Level 3's enterprise services with CenturyLink's network that provides Internet and telephone offerings to millions of customers. CenturyLink and Level 3 declined to comment.

  • Better Buy Now: Williams Companies Inc vs. Energy Transfer Equity LP -- The Motley Fool
    The Motley Fool

    Better Buy Now: Williams Companies Inc vs. Energy Transfer Equity LP -- The Motley Fool

    For more than a year Energy Transfer Equity (NYSE:ETE) wanted nothing more than to buy control of Williams Companies (NYSE:WMB) to bolster its energy infrastructure empire. However, the deepening of the energy market downturn, combined with leverage concerns and tax issues, changed its mind. That debacle caused a significant slump in the value of both companies, which is enticing many investors to consider adding one of them to their portfolio. That said, while both companies have their merits, one stands as the better choice right now for long-term investors. Battle of the balance sheets As mentioned, one of the reasons the merger between Energy Transfer Equity and Williams Companies fell apart

  • Politics

    Saudi Arabia, Gulf OPEC ready to cut oil output by 4 percent - sources

    Saudi Arabia and its Gulf OPEC allies are willing to cut 4 percent from their peak oil output, energy ministers from the Gulf countries told their Russian counterpart this week, sources familiar with the matter told Reuters. The 4 percent offer is likely to be made at a meeting of OPEC experts and officials from other oil producers such as Russia on Oct. 28-29 in Vienna, to nail down the details of last month's OPEC production-cap agreement in Algeria. Iraq, OPEC's No. 2 producer, said this week that it would not cut output and should be exempted from any curbs as it needs funds to fight Islamic State.

  • Everyone's Dream Boss, Joanna Gaines, Is Hiring
    Country Living

    Everyone's Dream Boss, Joanna Gaines, Is Hiring

    Looking for a career change that might involve farmhouse furniture, Christmas decorations, and plenty of bakery goodies? Magnolia Market, Joanna Gaines' furniture retailer and bakery located at the Silos in Waco, is hiring more staffers to join their teams for the holiday season, the brand announced on Instagram. If you have a knack for preparing tasty treats, for example, Magnolia Flour is looking for bakery sales associates and a baker.

  • Qualcomm to buy NXP for $38 billion in biggest chip deal

    Qualcomm to buy NXP for $38 billion in biggest chip deal

    The acquisition will also help Qualcomm, which provides chips to Android smartphone makers and Apple Inc , reduce its dependence on a cooling smartphone market. With the deal, Qualcomm is taking a big bet on the so-called Internet of Things (IoT), which enables everyday objects such as fridges and cars to communicate with each other.

  • Tesla shares soar after posting second quarterly profit ever

    Tesla shares soar after posting second quarterly profit ever

    Tesla (TSLA) shares soared Wednesday after the company posted its second profitable quarter ever and beat analyst expectations for the third quarter by a wide margin. In a conference call Wednesday night, Tesla CEO Elon Musk said the company currently believes the fourth quarter will be profitable excluding non-cash stock-based expenses, and added there is a "chance" Tesla will be profitable even taking those things into account. Tesla said it earned 71 cents a share on an adjusted basis in the third quarter on $2.3 billion in revenue.

  • Best Fidelity Funds for Your Retirement Savings

    Best Fidelity Funds for Your Retirement Savings

    Kiplinger Fidelity is home to some of the greatest stock fund managers of all time. At the top of the list is Peter Lynch, who during his tenure at Fidelity Magellan from 1977 to 1990 delivered a 29.1% annualized return. He beat out all other stock funds and bested Standard & Poor’s 500-stock index by an average of 13.5 percentage points per year. Since then, other stars have shone brightly, including Contrafund’s Will Danoff, Low-Priced Stock’s Joel Tillinghast and Growth Company fund’s Steve Wymer. The firm’s string of famous managers may explain why 22 of its funds land on a list of the 105 most popular mutual funds in employer-sponsored retirement savings plans. We set out to identify the

  • Business

    UPS expects record holiday deliveries, flags possible pension charge

    (Adds Boeing details, analyst comment, updates stock price) By Nick Carey CHICAGO, Oct 27 (Reuters) - United Parcel Service Inc on Thursday said it expects another record-breaking holiday delivery season this year, but warned

  • Twitter smashes expectations, announces job cuts
    Yahoo Finance

    Twitter smashes expectations, announces job cuts

    Twitter (TWTR) shares are surging after the company reported better-than-expected performance in the third quarter. Earnings adjusted for nonrecurring items came in at $0.13 per share, smashing expectations for $0.09. Importantly, Twitter reported 317 million monthly active users (MAU) during the period, which was up from 313 million in Q2 and stronger than the 315 million analysts were looking for.

  • 10 Worst States for Taxes on Your Retirement Nest Egg

    10 Worst States for Taxes on Your Retirement Nest Egg

    Retirees have special concerns when evaluating state tax policies. For instance, the mortgage might be paid off, but how bad are the property taxes—and how generous are the property-tax breaks for seniors? Are Social Security benefits taxed? What about other forms of retirement income—including IRAs and pensions? Does the state impose its own estate tax that might subtract from your legacy? The answers might just determine which side of the state border you’ll settle on in retirement. These 10 states impose the highest taxes on retirees, according to Kiplinger’s exclusive 2016 analysis of state taxes. Three of them treat Social Security benefits just like Uncle Sam does—taxing as much as 85%

  • Here's Amazon's explanation for its earnings flop
    Yahoo Finance

    Here's Amazon's explanation for its earnings flop

    Amazon chalked it up third-quarter its earnings miss to aggressively building out new fulfillment centers and investing heavily in video. On an earnings conference call Thursday, Amazon Chief Financial Officer Brian Olsavsky explained Amazon (AMZN) has invested heavily in two key areas: fulfillment centers and video. Indeed, during Amazon’s third quarter, the company built 18 fulfillment centers — the very same warehouses where many orders are filled.

  • Realty Income Misses on Earnings (O)

    Realty Income Misses on Earnings (O)

    Realty Income Corporation (O) disappointed investors with its latest earnings call. The poor results were announced after shares gave up some of their gains for the year. The company reported a 7.1% year-over-year increase in revenues, which rose to $277.2 million in the third quarter. That was slightly above analysts’ $264.8 million revenue expectations. Higher revenues did not help the company’s funds from operations, which were 1 cent worse than expectations at 72 cents per share. A decline in occupancy rates may have been the culprit in the weak results; occupancy fell from 99.3% a year ago to 98.8% by the end of the third quarter. Weak FFO did not stop management from raising their fiscal

  • 4 Bad Money Habits That Can Hurt Your Relationship

    4 Bad Money Habits That Can Hurt Your Relationship

    Money issues can cause arguments, stress and even divorce if they're not addressed. In order to maintain a healthy relationship you should consider having mutual financial disclosure. Here is a list of some bad habits that can potentially hurt your relationship and tips for how to avoid them.