Reuters Daily Investor Update: July 28, 2017

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Friday, July 28, 2017

S&P 500 dented by earnings; Dow hits record high

(Reuters) - The S&P 500 slipped on Friday on negative reactions to earnings reports from high-profile names such as Amazon, Exxon and Starbucks and a drop in shares of tobacco companies.

Oil hits two-month high in strongest week of the year

NEW YORK (Reuters) - Oil ended its strongest week this year with a surge on Friday, built on receding fears of oversupply, as U.S. crude came within striking distance of $50 a barrel for the first time since the end of May.

Exxon Mobil profit disappoints Wall Street, Chevron shines

HOUSTON (Reuters) - Exxon Mobil Corp posted a rare earnings miss on Friday, the only international oil producer to do so last quarter, as production slipped in its African and Canadian operations.

Senator Warren calls on Fed to remove Wells Fargo board members

WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren called on Federal Reserve Chair Janet Yellen to remove members of Wells Fargo & Co's board after revelations the company improperly charged customers for auto insurance.

Stocks edge lower as some earnings disappoint; oil climbs

NEW YORK (Reuters) - Global stock markets fell on Friday as results from some big U.S. companies disappointed and tobacco shares dropped, while oil prices had their biggest weekly percentage rise this year.

Exclusive: Congress asks U.S. agencies for Kaspersky Lab cyber documents

LAS VEGAS (Reuters) - A U.S. congressional panel this week asked 22 government agencies to share documents on Moscow-based cyber firm Kaspersky Lab, saying its products could be used to carry out "nefarious activities against the United States," according to letters seen by Reuters.

U.S. economy speeds up in second quarter, wages continue to lag

WASHINGTON (Reuters) - The U.S. economy accelerated in the second quarter as consumers ramped up spending and businesses invested more on equipment, but persistent sluggish wage gains cast a dark shadow over the growth outlook.

Fed's balance sheet not boosting U.S. economy much: Kashkari

(Reuters) - The Federal Reserve's $4.5 trillion balance sheet is not doing a lot to boost the U.S. economy at this time and trimming it gradually is the right thing to do, Minneapolis Fed President Neel Kashkari said on Friday.

Amazon everywhere: E-commerce titan is topic companies can't avoid

NEW YORK (Reuters) - What looms over businesses as far flung as car repair, lab equipment and swimming pool gear? In a word, Amazon.

Tesla climbs as Musk prepares to hand over first Model 3 cars

SAN FRANCISCO (Reuters) - Shares of Tesla Inc rose nearly 1 percent on Friday ahead of a handover to customers of its first Model 3 sedans, the electric cars that Chief Executive Officer Elon Musk is betting will propel his company into the mass market.

Reuters Daily Investor Update: July 28, 2017

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