Reuters Daily Investor Update: May 26, 2017

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Friday, May 26, 2017

Some investors bet Brazil has further room to fall

NEW YORK (Reuters) - Some investors are betting the worst is yet to come for Brazil's stock market, even after a brutal selloff last week.

U.S. economy grows at tepid 1.2 percent; business spending softens

WASHINGTON (Reuters) - The U.S. economy slowed less than initially thought in the first quarter, but there are signs it could struggle to rebound sharply in the second quarter amid slowing business investment and moderate consumer spending.

Bitcoin soars above $2,400 to all-time high

(Reuters) - Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology.

Fidelity to allow clients to see digital currencies on website

NEW YORK (Reuters) - Fidelity Investments will allow its clients to see their holdings of bitcoin and other virtual currencies held on digital asset exchange Coinbase on the company's website, said Chief Executive Abigail Johnson on Tuesday. The move will make the Boston-based asset manager one of a handful of large financial services firms to have integrated digital currencies into its website.

Oil prices see-saw, sterling hit as May's lead shrinks

NEW YORK (Reuters) - Oil prices see-sawed on Friday after OPEC extended cuts in oil production but disappointed investors by not going further, while sterling slid after a poll showed the ruling Conservatives' lead shrinking two weeks before an election.

N.Y. Fed trims U.S. second-quarter GDP growth view to 2.17 percent

NEW YORK (Reuters) - The New York Federal Reserve said on Friday it reduced its outlook on U.S. economic growth in the second quarter, citing that the drops in durables goods and new home sales in April offset the increase in wholesale inventories last month.

Wall St. flat ahead of long weekend

(Reuters) - U.S. stocks were little changed in late morning trading on Friday, following six straight days of gains, as investors took a breather ahead of a three-day holiday weekend.

OPEC oil cut extension renews Asia's crude supply worries

SINGAPORE (Reuters) - The OPEC-led decision to extend a production cut to March 2018 disappointed financial investors, prompting an exit from oil futures markets, while refiners in Asia were mostly concerned with whether it meant they would need to go hunting for crude.

Russia's Novak says may discuss adjustments to OPEC deal at monitoring committee

MOSCOW (Reuters) - Russian Energy Minister Alexander Novak said on Friday a committee that monitors a deal between OPEC and non-OPEC states on cutting output could discuss possible adjustments to the agreement when it meets.

UAE says oil agreement will help to balance market: agency

DUBAI (Reuters) - The extension of a global oil output cut deal will help to bring balance to the oil market and encourage investments in the oil sector, the United Arab Emirates energy minister said on Friday.

Reuters Daily Investor Update: May 26, 2017

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