Top Ranked Income Stocks to Buy for December 29th

Reuters
Oil prices drop as India's COVID-19 surge dents demand outlook
Oil prices fell for a second day on Wednesday, weighed down by concerns that surging COVID-19 cases in India will drive down fuel demand in the world's third-biggest oil importer. Brent crude futures for June declined 29 cents, or 0.4%, to $66.28 a barrel at 0645 GMT, after dropping 48 cents on Tuesday. U.S. West Texas Intermediate (WTI) crude futures for June fell 34 cents, or 0.5%, to $62.33 a barrel.
5h ago
Reuters
Oil drops as coronavirus cases surge in Asia
Oil fell by $1 on Tuesday, pulling back from one-month highs, on fears that India, the world's third-biggest oil importer, may impose restrictions as coronavirus infections and deaths soar in that country. Oil prices have risen steadily this year on expectations of a recovery in demand but while the United States and China are rebounding, numerous other countries are not. "Given India's position as a major crude oil importer in the world, new restrictions would be very bad for the energy complex," said Bob Yawger, director of energy futures at Mizuho.
1d ago
Reuters
Gucci joins luxury goods rebound, boosting Kering sales
Revenue at Kering's Gucci fashion label rebounded strongly in the first quarter, adding to signs of a comeback for the broader luxury goods industry as COVID-19 restrictions ease in major markets like China and the United States. The Kering conglomerate's overall sales rose and Gucci, which accounts for 60% of Kering's revenues and 80% of its profits, posted comparable revenues up by 24.6%, ahead of analysts' consensus forecast for 19% growth. But fashion labels at Kering's arch-rival LVMH's, which include Louis Vuitton, performed even more strongly in the first quarter, and Bernstein analyst Luca Solca said this could potentially weigh on Kering's shares.
14h ago
Reuters
Dogecoin cryptocurrency slumps after hashtag-fueled surge to record high
Meme-based cryptocurrency Dogecoin fell on Tuesday after hitting an all-time high in a wild session that saw supporters of the token once considered a parody use hashtags to fuel a rally until it lost steam. Dogecoin ultimately fell 15.4% to US$0.33, but during the session when it hit a record peak, its market capitalization soared to more than $50 billion. Dogecoin fans used the hashtags #DogeDay and #DogeDay420 to post memes, messages and videos on Twitter, Reddit and TikTok, referring to the informal April 20 holiday to celebrate cannabis which is marked by smoke-ins and street parties.
4h ago
Reuters
Singapore prosecution files more charges over nickel trading scandal
Singapore prosecutors on Tuesday filed five additional charges against businessman Ng Yu Zhi in relation to a scheme that allegedly raised at least S$1 billion ($746 million) from investors to fund bogus nickel trades. The alleged fraud, which would be one of the city-state's biggest, follows a string of scandals involving Singapore trading firms that have shaken investor and banker confidence in the sector over the last year when some commodities, including nickel, have rallied strongly. The new charges of cheating against Ng were read out in Singapore's State Court.
19h ago
Reuters
Gold gains as softer U.S. dollar, yields lift appeal
Gold prices rose on Wednesday, hovering near a seven-week high hit earlier this week, as a softer dollar and a retreat in U.S. Treasury yields lifted demand for the safe-haven metal. Spot gold was up 0.5% to $1,786.80 per ounce at 0657 GMT, after hitting $1,789.77 on Monday, its highest since Feb. 25. "The U.S. dollar had edged lower this morning, supporting prices, with gold's upward momentum from overnight continuing in Asia," OANDA senior market analyst Jeffrey Halley said.
5h ago
CoinDesk
Solana Bucked Bitcoin Sell-Off; Upstart Blockchain Challenges Ethereum on Speed, Fees
Solana's SOL tokens have jumped 17-fold in price this year, for a market capitalization over $8 billion.
11h ago
CoinDesk
Firms Like Ripple May Put ‘Competitive Pressure’ on Traditional Indian Banks: EY
The EY paper suggests that because Ripple is faster, less expensive and more transparent it could put “competitive pressure” on India’s traditional banking system.
16h ago
Reuters
Exclusive: DBS, StanChart weigh bids as Citi retreats from Asia consumer business - sources
Banks including DBS Group, Mitsubishi UFJ Financial Group (MUFG), OCBC and Standard Chartered are set to bid for parts of Citigroup's consumer business in Asia, people with direct knowledge of the matter said. The move comes after Citi said it would exit from its consumer franchises in 13 markets, 10 of which are in Asia, as it refocuses on its more lucrative institutional and wealth management businesses in these markets. Potential bids from the regional banks and StanChart, which makes most of its profit in Asia, underscores their growing appetite for businesses like credit cards and mortgages in a push to lock in long-term income growth.
1d ago
Bloomberg
Nikola’s Stock Selloff Accelerates as Shares Fall Below $10
(Bloomberg) -- Nikola Corp. shares fell Tuesday to the lowest since December 2018, accelerating a selloff that has now erased all their gains since the electric-vehicle startup went public via blank-check company last year.The electric-truck maker -- once briefly more valuable than Ford Motor Co. -- closed down 6.2% at $9.65 in New York, bringing it below the $10 level at which VectoIQ Acquisition Corp., the special-purpose acquisition company that acquired Nikola, debuted in June 2018.Nikola’s shares have lost their luster after much fanfare since it closed its reverse merger with VectoIQ in June 2020. That month, it rallied to an intraday high of $93.99, catapulting Nikola’s market capitalization above $28 billion. The company’s valuation has since slumped to $3.8 billion.Since then, it has been mired in bad news: a collapsed deal to build trucks with General Motors Co., an internal probe that found it made several inaccurate statements, and an inability to meet initial production guidance for its first commercial zero-emission vehicles.Read more: Nikola Faces Daunting Future With Far Fewer Friends Than BeforeNikola’s slump is also part of broader weakness for electric-vehicle stocks this year as the threat of competition from incumbent players increased and rapid economic growth fueled a rotation into value stocks. Now traditional automakers are making a comeback as they vow to rapidly expand their presence in the EV market, shrinking the potential market share of startups like Nikola.Last week, shares of another electric truck startup, Lordstown Motors Corp., also fell below the $10 level, the price at which the blank-check company it merged with debuted in April 2019.Shares of the big three Detroit automakers have rallied this year on aggressive plans to compete in the EV market. General Motors, Ford, and Stellantis NV -- the owner of Chrysler -- all announced plans to shift into EV technology during the March quarter, joining a growing list of peers including Volkswagen AG and BMW AG in trying to convince investors they too offer exposure to the industry.For many of Nikola’s private early investors -- including Fidelity and P. Schoenfeld Asset Management LP -- the slump could mean they’ve suffered losses if they’ve held onto shares. The ValueAct Spring fund, which was another early investor in Nikola, moved to Inclusive Capital Partners in the summer of 2020. The Spring Fund was led by Jeff Ubben, who remains invested in Nikola though Inclusive.(Updates stock move in second and third paragraphs, investor details in eighth.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
11h ago
FX Empire
Oil Price Fundamental Daily Forecast – Traders Giving Back Earlier Force Majeure Gains
Libya’s state-owned NOC has declared force majeure on crude exports from the eastern Marsa el-Hariga terminal.
17h ago
Bloomberg
Putin’s Answer to U.S. Sanctions Is More Economic Isolation
(Bloomberg) -- Russian President Vladimir Putin is likely to respond to the latest round of U.S. sanctions threats as he has to past ones: by speeding his drive to make Russia’s economy more self-sufficient.In the seven years since Russia’s annexation of Crimea, Putin’s government and central bank have stripped back the country’s exposure to dollars, shifted assets out of the U.S. and sold a smaller share of its debt to foreigners.“The Americans are saying: be careful or we could do more, but Russia is just going to continue down the path toward economic autarky,” said Elina Ribakova, deputy chief economist at the Institute of International Finance in Washington.The administration of U.S. President Joe Biden is keeping the threat of sanctions hanging over Russia even after a sweeping round of penalties imposed last week. On Sunday, the U.S. warned of “consequences” if jailed opposition activist Alexey Navalny dies in prison.These four charts show how Putin has responded to past rounds of sanctions by increasing Russia’s economic isolation.The share of gold in Russia’s $581 billion international reserves jumped above dollars for the first time on record last year following a multi-year drive to reduce exposure to U.S. assets. The precious metal made up 24% of the central bank’s stockpile as of the end of September 2020, the latest date for which the breakdown is available. The share of dollar assets was 22%, down from more than 40% in 2018.That trend also shows up in the share of Russia’s international reserves held in the U.S., which plummeted to just under 7% by the end of September, down from about 30% before the Crimea annexation. Most of the shift happened in the second quarter of 2018 just after sanctions on aluminum giant United Co. Rusal revealed how vulnerable Russia was to sanctions.What Our Economists Say...Russia’s resilience to successive waves of sanctions provides a false sense of security. With the U.S. running out of options, the next round could be more disruptive, and the measures already in place are holding back trade and investment.-- Scott Johnson, Bloomberg EconomicsOf course, there’s only so much that Russia can do without cutting itself off entirely from the global economy. But officials in Washington are also restrained by the fact that if they go too far (as they did with the Rusal sanctions that were later revoked), they risk sending tremors through global markets.Acting on a pledge by Putin to “de-dollarize” trade, Russia has been slowly cutting back on use of the greenback in its exports with the European Union, China and India. The euro has almost overtaken the dollar in Russia’s trade with the EU and has already surpassed it in exports to China. About two-thirds of Russia’s exports to India, meanwhile, are paid for in rubles.How Virus-Panicked Markets Showed Dollar’s Still King: QuickTakeLast week’s penalties included a ban on purchases of bonds on the primary market, so the next big targets could be secondary-market debt and Russian banks’ access to the financial messaging system used for most international money transfers. Russia is already looking for alternatives to the system, known as SWIFT, to make itself less vulnerable, though attempts so far haven’t led to much.One reason the Finance Ministry wasn’t too concerned about the latest sanctions measure on government debt is that Russia has mostly been selling to local banks at its weekly auctions anyway. Borrowing was ramped up during the pandemic even though foreign demand was weak, which increased the overall size of the market and pushed down the share of foreigners.U.S. banks can still buy new debt on the secondary market after the penalties come into force in mid-June. Russia is “well positioned” for a near term market disruption because it has a high cash buffer and demand from local banks is “robust,” Fitch Ratings said in a research note published late on Friday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
2d ago
Bloomberg
Tech Leads Stock Retreat; Dollar Falls: Markets Wrap
(Bloomberg) -- U.S. stocks retreated from an all-time high as investors awaited the heart of the earnings season and more economic data later in the week. The dollar fell.Technology shares dragged down the S&P 500, which posted its biggest drop in almost four weeks. Tesla Inc. contributed the most to the decline as one of its electric cars that “no one” appeared to be driving crashed and killed two passengers. Small caps underperformed, with more than three-quarters of the stocks in the Russell 2000 closing lower. Copper prices surged to a seven-week high on prospects for strong demand and a pickup in inflation as economies rebound.In the U.S., the economic calendar is light this week until Thursday, with reports on unemployment claims and home sales among those scheduled for release. Robust economic data helped push stocks to another record last week despite concerns surrounding the spread of Covid-19 variants. Traders will look for further confirmation of the private sector’s recovery from the pandemic as the earnings season gathers pace. United Airlines Holdings Inc. and International Business Machines Corp. are among those with reports after the closing bell on Monday.“With a deluge of earnings activity this week from across industries, we may be in a bit of a holding pattern until investors digest any beats or misses on that front,” said Chris Larkin, managing director of trading and investing product at E*Trade Financial. “Bottom line is that short-term volatility is typical when we’re knocking around market highs as traders look to uncover value.”For Matt Maley, chief market strategist for Miller Tabak + Co., the sharp drop in Bitcoin over the weekend is having an impact on trading as well.“Whenever a headline-grabbing asset sees a big decline at a time when the broad market stands at an expensive level, it usually has a negative impact on the stock market, even if it’s only short-lived,” he wrote.Here are some key events to watch this week:Apple’s first product unveiling of the year on Tuesday.Reserve Bank of Australia releases minutes of its policy meeting on Tuesday.EIA crude oil inventory report on Wednesday.European Central Bank rate decision and President Christine Lagarde briefing on Thursday.U.S. releases new home sales data.These are some of the main moves in markets:StocksThe S&P 500 fell 0.5% as of 4:03 p.m. New York timeThe Nasdaq 100 fell 1%The Dow Jones Industrial Average fell 0.3%The Russell 2000 Index fell 1.4%The MSCI World index fell 0.3%CurrenciesThe Bloomberg Dollar Spot Index fell 0.4%The euro rose 0.5% to 1.2037The British pound rose 1.1% to 1.3986The Japanese yen rose 0.6% to 108.17 per dollarBondsThe yield on 10-year Treasuries advanced 2.1 basis points to 1.601%Germany’s 10-year yield advanced 2.8 basis points to 0.235%Britain’s 10-year yield declined 0.9 basis points to 0.755%CommoditiesWest Texas Intermediate crude rose 0.5% to $63 a barrelGold futures fell 0.5% to $1,771/oz(An earlier story misstated the copper price move in the second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
1d ago
Reuters
Wall Street slips from record levels; Tesla drops after fatal car crash
Major U.S. stock indexes fell from record levels on Monday as investors sought cues from first-quarter earnings reports to justify the rich valuation of equities, while Tesla shares fell following a fatal car crash. The electric-car maker was down 3.5% after a Tesla vehicle, which was believed to be operating without anyone in the driver's seat, crashed into a tree on Saturday night north of Houston, killing two occupants. The stock, which was the biggest drag on the S&P 500 and the Nasdaq, was also under pressure due to a sharp drop in bitcoin over the weekend.
2d ago
Quartz
Covid-19 vaccines aren’t making any money for Johnson & Johnson
For many Americans, Johnson & Johnson (J&J) these days is most closely associated with the pharmaceutical company’s Covid-19 vaccine, which has been recently suspended in the US as authorities investigate its risk of causing a rare blood clot syndrome. Out of over $22 billion in sales, Covid-19 vaccines accounted for $100 million—or just above 2%, the company announced today.
10h ago
FX Empire
Price of Gold Fundamental Daily Forecast – Stable Yields Could Lead to Rangebound Gold Prices
It is possible that bond yields have stabilized as traders accept the Fed’s reiteration that the rise in inflation will be short-term.
19h ago
Reuters
India does not see logic in U.S. putting it on currency watchlist
India does not see any logic in the United States putting it on a monitoring list of currency manipulators, a trade ministry official said on Tuesday. "I don't understand any economic logic," Anup Wadhawan, India's commerce secretary told reporters. The Reserve Bank of India is following a policy that allows currency movements based on market forces, he said.
22h ago
Reuters
Exclusive: Fed will limit any overshoot of inflation target, Powell says
The U.S. economy is going to temporarily see "a little higher" inflation this year as the recovery strengthens and supply constraints push up prices in some sectors, but the Federal Reserve is committed to limiting any overshoot, Fed Chair Jerome Powell said in an April 8 letter to Senator Rick Scott. "We do not seek inflation that substantially exceeds 2 percent, nor do we seek inflation above 2 percent for a prolonged period," Powell said in a five-page response to a March 24 letter in which the Florida Republican raised concerns about rising inflation and the U.S. central bank's bond-buying program. Those modifiers - "substantially" exceeding 2% inflation or above that level for a "prolonged" period - help to more sharply define the upper bounds of the Fed's comfort zone as prices rise.
16h ago
Reuters
AB Foods cheered by Primark's record reopening after profit slump
LONDON (Reuters) -Associated British Foods reported a halving in first half profit after COVID-19 lockdowns shuttered its Primark fashion stores but said it saw record sales when they reopened. The group, which also owns sugar, grocery, agriculture and ingredients businesses, said on Tuesday its adjusted profit before tax fell to 319 million pounds ($446 million) in the 24 weeks to Feb. 27 from 636 million a year earlier. Group revenue fell 17% to 6.3 billion pounds driven by the loss of retail sales as most of Primark's stores were closed for more than half the period.
1d ago
CoinDesk
Market Wrap: Bitcoin Flat at $56.7K, Ether Rises and It Wasn’t Dogeday’s Afternoon
Bitcoin price takes a pit stop with ether and dogecoin stealing the spotlight.
11h ago

Symbol	Last Price	Change	% Change
BCBP BCB Bancorp, Inc.	13.34	-0.36	-2.63%
DCP DCP Midstream, LP	22.46	-0.56	-2.43%
OKE ONEOK, Inc.	50.63	-1.15	-2.22%

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BCB Bancorp, Inc. NJ Price and Consensus

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ONEOK, Inc. Price and Consensus

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