EastmanReady for a world where circular solutions in the fashion industry are made easy? A world where you don’t have to compromise on creativity or sustainability? Look no further.Eastman now offers...

Eastman

Ready for a world where circular solutions in the fashion industry are made easy? A world where you don’t have to compromise on creativity or sustainability? Look no further.

Eastman now offers Naia™ Renew cellulosic fiber, a circular fiber produced from 60% sustainably sourced wood pulp and 40% certified recycled content,* so you don’t have to compromise on style to protect the planet.

With Naia™ Renew, your fabrics have an added element of sustainability as waste is diverted from landfill and re-created into new fiber material, giving you stylish fashion fabrics that help address the waste challenge in the textiles industry.

With Naia™ Renew fabrics, you’ll be comfortable in your clothes and with your lower environmental footprint.

Join us as we dress the world with eco-conscious, skin-friendly material. We work with you so that you can continue to create collections that resonate with your customers while caring for the planet.

To learn more about Naia™ Renew cellulosic fiber, contact your Naia™ representative or reach out to us via https://www.eastman.com/en/products/brands/naia/contact

3BL | Wed, Aug 07 2024 11:30 PM AEST

Investing.com-- The Dow rallied Friday to a fourth-straight weekly win, supported by upbeat quarterly earnings from corporates and data showing cooling inflation that boosted hopes for a sooner intere

Investing | Sat, Jul 27 2024 06:24 AM AEST

Investing.com-- The Dow rallied Friday to a fourth-straight weekly win, supported by upbeat quarterly earnings from corporates and data showing cooling inflation that boosted hopes for a sooner interest rate cut.

At 16:00 ET (20:00 GMT), Dow Jones Industrial Average rose 654 points, or 1.6%, S&P 500 rose 1.1%, and NASDAQ Composite rose 1.1%, with the latter two indexes posting two-straight weeks of loses for the first time since April.

Cooling inflation data puts September rate cut in play

The PCE price index, the U.S. Federal Reserve's preferred inflation metric, rose 0.1% on a monthly basis in June and 2.5% annually, both as expected.

While the Federal Reserve's meeting next week is too soon for a rate cut, Macquarie says, the Fed is likely to stoke expectations for cuts to begin in September.

"We expect the FOMC to leave the fed funds rate unchanged next week, but for the communication to foreshadow rate cuts ahead," Macquarie said.

Treasury yields fall on rate-cut hopes, boosting dip-buying in tech

Rate-cut optimism pushed Treasury yields lower, sparking a bid in tech stocks following their recent malaise.

The dip-buying action comes just ahead of further earnings from major tech names inclding Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) due on Tuesday and Thursday, respectively.

Microsoft's results are likely to steal the spotlight as investors look for further clues that the tech giant's cloud business Azure is capitalizing on the AI wave.

Beyodn AI, "capex trends and the return on Microsoft’s AI investments and Office growth, specifically when Copilot uplift can offset slowing seat growth," will likely dominate investor attention, UBS said in a note.

Prints from Advanced Micro Devices (NASDAQ:AMD), Qualcomm Incorporated (NASDAQ:QCOM) and Amazon (NASDAQ:AMZN) are also due next week.

3M in record rally after impressive earnings; Bristol-Myers Squibb, Deckers also impress

3M Company (NYSE:MMM) stock soared nearly 23% to record highs after the industrial conglomerate raised the low end of its full-year adjusted profit forecast expecting to benefit from restructuring measures and increasing demand for electronics.

Bristol-Myers Squibb (NYSE:BMY) stock rose 11% after the drugmaker posted better-than-expected second-quarter results, driven by growth from new products like anemia treatment Reblozyl and heart drug Camzyos as well as from its top-seller, blood thinner Eliquis.

Deckers Outdoor (NYSE:DECK) stock rose more than 6% after the athletics shoes and apparel company raised its annual profit forecast following a first-quarter results beat.

On the flip side, DexCom (NASDAQ:DXCM) stock slumped 41% after the medical device maker cut its annual revenue forecast, saying it had fewer new customers than expected.

(Peter Nurse, Ambar Warrick contributed to this article.)

This article first appeared in Investing.com

Investing.com-- Oil prices fell sharply Thursday as concerns about demand growth grew, overshadowing healthy U.S. growth data.

Investing | Thu, Jul 25 2024 10:42 PM AEST

Investing.com-- Oil prices fell sharply Thursday as concerns about demand growth grew, overshadowing healthy U.S. growth data.

At 08:40 ET (12:40 GMT), Brent oil futures expiring in September fell 1.1% to $80.81 a barrel, while West Texas Intermediate crude futures fell 1.3% to $76.60 a barrel.

US GDP, PCE inflation in spotlight

U.S. gross domestic product data showed that the country's economy grew an annualized 2.8% in the second quarter, an improvement from the 1.4% growth seen in the first quarter.

Importantly, the price component showed a fall to 2.3%, from 3.1% the previous quarter, a significant cooling of inflationary pressures.

The PCE price index - which is the Federal Reserve’s preferred inflation gauge- is due this Friday, and is likely to factor into the central bank’s outlook on interest rates.

The readings come just days before a Fed meeting next week, where the central bank is widely expected to keep rates unchanged. But markets will be watching for any cues on when the bank plans to begin cutting rates, with general consensus pointing to a September easing.

China demand remains a point of concern

However, concerns over Chinese demand remained in play, after the world’s biggest oil importer reported disappointing growth figures for the second quarter. China’s oil imports also sank in June.

The readings, coupled with scant cues on more stimulus measures from Beijing, kept sentiment over China largely constrained.

An unexpected interest rate cut by the People’s Bank did little to improve sentiment.

Uncertainty over the U.S. presidential race also dented sentiment towards China, amid doubts over just what a change in U.S. administration will entail for Washington’s stance towards Beijing.

Additionally, data out of Europe showed that companies in the eurozone's two largest economies are growing more pessimistic, raising concerns over the bloc's already sluggish recovery.

The business climate in France and Germany unexpectedly worsened in July and entrepreneurs took a dimmer view of the coming months, the national polls showed, a day after a separate survey pointed to stalling growth in the euro area.

U.S. inventories provide brief relief

Both benchmarks rose on Wednesday, snapping consecutive sessions of declines after the Energy Information Administration said U.S. crude inventories fell by more than expected to 3.7 million barrels last week. [EIA/S]

U.S. gasoline stocks dropped by 5.6 million barrels, against analyst expectations of a 400,000 draw.

(Ambar Warrick contributed to this article.)

This article first appeared in Investing.com