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Dow Posts 7th Record in a Row as Amazon, Apple Weighs on S&P 500

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U.S. stocks fluctuated on Thursday as the Dow Industrials rose to a seventh consecutive record peak. The S&P 500 and the Nasdaq declined, pulled down by Amazon.com, Apple and other technology stocks.

Stocks lost quite some ground late in the session following a report from the Wall Street Journal which stated that Special counsel Robert Mueller has impaneled a grand jury in Washington to probe into allegations of Russia's interference in the 2016 presidential elections.

The Dow Jones industrial average edged up 0.04 percent to close at 22,026.10.

The S&P 500 and the Nasdaq composite dropped to session lows on the report. However, both managed to pare losses before the close.

The S&P 500 slipped 0.22 percent to 2,472.16, as energy led decliners.

The Nasdaq fell 0.35 percent to 6,340.34. Investors may be taking a break ahead of the monthly employment report from the Bureau of Labor Statistics.

The S&P 500 information technology index fell 0.35 percent. Apple shed 1.0 percent after notching a record peak on Wednesday.

Silicon Valley electric carmaker Tesla soared 6.50 percent after posting its quarterly results which were above Wall Street's expectations.

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FRANCE: Macron Offers As Mediator In Venezuelan Crisis

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The president of France, Emmanuel Macron, offered to mediate the Venezuelan crisis while condemning the political violence in the country and the arrest of the opposition leaders Leopoldo Lopez and Antonio Ledezma.

"Our European partners share these concerns. Together, we call that the human rights, the rule of law and people's fundamental freedoms to be respected. We hope that institutions in Venezuela return to its normal functioning as soon as possible," the French Presidency said in a statement.

"France, along with its European partners, supports the efforts of the countries of the region and will continue to support any arbitration that will allow the resumption of a credible, sincere and serious dialogue between the government and the opposition and to end the spiral of violence. Our ambassador, on the spot, stays in touch with all parties," the statement said.

The French offer comes shortly before the installation of the National Constituent Assembly elected last Sunday amid and an opposition boycott.

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Gold Steady Near 2-Week Low as Dollar Strengthens

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Gold prices held steady near two-week lows early on Monday, weighed down by the rebound in the U.S. dollar following better-than-expected U.S. jobs data from last week.

Spot gold was flat at $1,257.31 an ounce. On Friday, it reached its lowest in over a week and recorded its first weekly drop in four.

U.S. gold futures for December delivery were down 0.1 percent to $1,263.00 an ounce.

SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund, said its holdings dropped 0.60 percent to 787.14 tonnes on Friday from 791.88 tonnes the previous day. The fund saw its holdings decline by over seven percent in July, as investors dumped bullion for other assets and propelled it to its largest monthly drop since April 2013.

Hedge funds and money managers raised their net long position in COMEX gold for the third consecutive time to the highest in seven weeks in the week to Aug. 1, and raised it to a record peak in copper, according to data from the U.S. Commodity Futures Trading Commission.

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ARGENTINA: Merval Falls 1.03% Amid Caution Before Primary Elections

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Merval, the main index of the Buenos Aires Stock Exchange, fell 1.03%, closing at 21,479.78 points Monday, with uncertainty rising as primary legislative elections draw near. Opinion polls in Buenos Aires point to a technical tie between the ruling party and the opposition led by the former President Cristina Kirchner.

Eduardo Fern?ndez, an analyst at Rava Burs?til, said that investors are reluctant to take new positions in risky assets before the primary election results.

The shares of Autopistas del Sol (-5.46%), Agrometal (-5.39%), Aluar (-4.42%), Transener (-4.28%), Central Puerto (-4.23% ) fell, while shares of TGS (+ 2.17%) rose in the eve of its quarterly financial result's release. Petrobras Brasil also posted gains (+ 1.55%).

The locally traded US dollar again showed an upward trend, hitting an intraday high of 17.72 Argentinean pesos, but the central bank intervened to prevent it from rising more, and the currency settled at 17.70 pesos (+0.17% ).

The Argentinean government is apparently comfortable with the steep greenback's rise but is trying to avoid that it exceeds the 18 pesos barrier or rise abruptly before the elections.

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Wall Street Gains as Dow Hits 9th Record Close in a Row

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U.S. stocks climbed on Monday, as corporate earnings and acquisitions propelled some of the largest moves in individual shares.

The Dow Jones industrial average touched intraday and closing records, as it contributed to the previous week's record-setting performance. The 30-stock index climbed 0.12 percent to 22,118.42 as Boeing and Goldman Sachs contributed most of the gains.

The S&P 500 rose 0.16 percent to 2,480.91, its first record close since July 26. The Nasdaq composite jumped 0.51 percent to 6,383.77.

The energy sector led declines with a 0.9 percent fall as oil prices slipped on a rebound in production from Libya's biggest oil field, along with concerns regarding higher output from OPEC and United States.

The S&P consumer staples index rose 0.7 percent while the technology index climbed 0.6 percent, both were the benchmark's leading sectors on the day. Tyson Foods, one of the consumer staple sector's largest boosts on the day, gained 5.7 percent to $66.90 after the company posted better-than-expected profit and revenue for the recent quarter. Shares of Wal-Mart rose nearly one percent.

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YPF: Revenue Increases 14% And Company Returns To Profit In Q2

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Argentina's state-owned oil company YPF reported a net profit of 272 million Argentinean pesos in the second quarter of 2017, reversing the 753 million pesos loss recorded in the same period of 2016. Revenue amounted to 60.162 billion pesos, a 14.0% growth.

YPF's EBITDA (earnings before interest, taxes, depreciation, and amortization) reached 16,177 million pesos, a 5.8% fall compared to the same period of 2016. Investments decreased by 10.1% in the second quarter of 2017, to 13.029 billion pesos, compared with a year earlier.

YPF's total output reached 550.1 thousand barrels of oil equivalent per day (boed) in the second quarter, 4.2% lower than in the same period in 2016. Crude oil production declined by 10.1%, to 218.3 thousand barrels per day (bpd), while natural gas production reached 44.6 million cubic meters per day (Mm3d), 0.5% lower than the same period of 2016. Regarding Natural gas liquids, production increased by 3.7%, reaching 51.4 thousand bpd.

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Oil Continues to Retreat as Skepticism over OPEC Cuts Persist

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Oil futures slid for a third day in morning Asian trading as the market brushed off a bigger than expected decline in U.S. stockpiles by an industry group as skepticism remain over OPEC's ability to limit output as pledged.

Brent crude fell 21 cents or 0.4 percent, bringing it at $51.93 per barrel. In the prior session, the international benchmark finished 0.4 percent down.

U.S. WTI traded down 15 cents or 0.3 percent at $49.02 per barrel after ending down 0.4 percent on Tuesday.

U.S. crude stockpiles fell more than anticipated in the previous week as imports decreased and refinery runs rose, while gasoline inventories unexpectedly increased, according to API's latest report.

Crude stockpiles slid by 7.8 million barrels in the latest week to 478.4 million, compared with analysts expectations for a decline of 2.7 million barrels.

The U.S. EIA will publish its weekly fuel status report later today.

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ARGENTINA: Merval Closes Below 21,000 Points Due To Risk Aversion

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Merval, the main index of the Buenos Aires Stock Exchange, fell 1.22% to 20,995.17 points Wednesday amid caution ahead of Sunday's primary legislative elections.

YPF oil company closed stable after reporting yesterday night a net income of 272 million pesos in the second quarter of 2017, reversing the losses recorded in the same period of 2016. Meanwhile, the Group Financiero Galicia share fell 1.67% after the company presented a 33.5% increase in its net profit in the second quarter.

TGN closed higher despite reporting a 50.23% decrease in its net profit in the second quarter. San Miguel fell 2.60% after reporting net losses of 110 million pesos in the first half of 2017, and Holcim decreased 2.02% despite reporting a threefold increase in its second quarter net profit, to 194.7 million.

Meanwhile, the locally traded US dollar ended with a slight decline of 0.12%, at 17.70 pesos, amid successive interventions by the central bank on the foreign exchange market four days before the legislative primaries. The government is trying to avoid a possible electoral impact of a sudden dollar appreciation.

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Wall Street Drops Amid North Korea Tensions

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U.S. equities closed lower on Wednesday with mild declines as the market trimmed losses toward the end.

Growing tensions between the US and North Korea rattled markets around the world, which halted the rally in stocks that was spurred by corporate earnings and global economic expansion.

The Dow Jones industrial average slipped 0.17 percent to 22,048.70, as Walt Disney contributed the most declines. The S&P 500 ended below the flatline at 2,472.02. The index dropped as much as half a percent, with utilities leading losses. The Nasdaq composite was down 0.28 percent to 6,352.33.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, touched a one-month peak.

Politics raised U.S. defense stocks. Lockheed Martin, Raytheon, General Dynamics and Northrop Grumman all advanced while the Dow Jones U.S. defense index rose 1.6 percent after notching a record peak.

Some weak corporate results contributed to the pressure on U.S. stocks.

Losses in Walt Disney trimmed nearly 28 points off the Dow industrials. The company lost 3.9 percent to $102.83 after it posted a lower-than-expected decline in operating income from its cable-networks business and also announced it will end a deal with Netflix after next year. Shares of Netflix shed 1.4 percent to 175.78.

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New Zealand Food Prices Fall 0.2% In July

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Food prices in New Zealand were down an unadjusted 0.2 percent on month in July, Statistics New Zealand said on Friday - following the 0.2 percent gain in June.

Fruit and vegetable prices fell 1.0 percent on month, while meat, poultry, and fish prices fell 0.8 percent.

Seasonally adjusted, food prices were flat on month.

On a yearly basis, food prices were up 3.0 percent for the second straight month.

Fruit and vegetable prices increased 8.2 percent on year, while grocery food prices increased 3.1 percent.

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Crude Prices Flat as Oversupply Worries Persist

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Oil prices were almost unchanged in early Friday Asian trading after pulling back in the prior session, pressured by the ongoing global oversupply concerns despite the bigger-than-anticipated drawdown in U.S. crude stockpiles.

Brent crude futures rose by 1 cent and traded at $51.91 per barrel. Meanwhile, the U.S. WTI crude traded up 3 cents or 0.1 percent at $48.62 per barrel.

Oil prices hit a two-and-a-month high during the previous session, but ended down around 1.5 percent, with the U.S. benchmark falling back below the $50-per-barrel mark due to persistent global glut worries.

ANZ bank said crude prices failed to maintain its recent gains, as the anxious market began to question the recent decline in stockpiles. The supply fundamentals also affected prices, with data indicating Libyan production in July reaching its highest level for the year.

Official government data showed crude stockpiles in the U.S. steeply declined by 6.5 million barrels in the latest week, as refiners bolstered processing due to solid demand.

But there are persisting worries whether enough crude will be used to end a global oversupply after OPEC posted another increase in the producer cartel's production, despite lifting its outlook for demand in 2018.

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Japan GDP Jumps 1.0% In Q2

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Japan's gross domestic product expanded 1.0 percent on quarter in the second three months of 2017, the Cabinet Office said in Monday's preliminary reading.

That beat forecasts for a gain of 0.6 percent following the upwardly revised 0.4 percent increase in the three months prior (originally -0.3 percent).

On a yearly basis, GDP surged 4.0 percent - again topping expectations for 2.5 percent and up from the upwardly revised 1.5 percent jump in the first quarter (originally 1.0 percent).

Nominal GDP jumped 1.1 percent on quarter, beating forecasts for an increase of 0.7 percent following the 0.3 percent decline in the previous three months.

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Oil Steady, Buoyed by Firm Demand and Drop in Inventories

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Oil prices were steady on Monday, buoyed by firm demand and a fall in inventories. However, it remains under pressure due to high output.

U.S. West Texas Intermediate (WTI) crude futures CLc1 stood at $48.85 per barrel, higher by three cents.

According to Anz bank, prices are supported by a report from the International Energy Agency (IEA) which stated that crude oil stockpiles were now below 2016 levels. Stocks continue to be at 219 million barrels above a 5-year average, which is a level that OPEC is aiming for with its output cuts, the IEA said.

The agency increased its 2017 demand growth forecast to 1.5 million barrels per day (bpd) from 1.4 million bpd in its earlier monthly report and said it sees demand to grow further by 1.4 million bpd in 2017.

Shale production in the biggest U.S. oilfield should increase by as much as 300,000 bpd by December, according to industry forecasts.

Drillers added three rigs looking for new oil in the week to Aug. 11 which brings the overall count up to 768, the most since April 2015, according to General Electric Co's Baker Hughes energy services company.

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VALE: Company To Increase Corporate Governance Level Sooner Than Expected

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The chief executive officer of the Brazilian miner Vale, Fabio Schvartsman, said that the company could enter the Novo Mercado stock market segment - which means that the firm will follow the highest standards of corporate governance available in Brazil - sooner than expected.

"We do not have the date yet, but we will do everything at reach to make it fast. It is possible that it will happen later this year," the executive said in a teleconference with reporters.

His statement came after Vale's stockholders agreed to convert 84.4% of the company's preferred shares into common shares. According to Schvartsman, nobody expected such high level of commitment to the share conversion process.

Now, Vale is reviewing what to do with the remaining preferred shares. One possibility would be to hold a new shareholder meeting to convert those stocks. Schvartsman also reiterated that it would not be necessary to use company money to buy the shares, since shareholders who did not join the conversion did not do so due to regulatory issues, such as index funds abroad.

Vale needed a conversion rate of at least 54.09% to proceed with its corporate restructuring and for changes in corporate governance, such as those required to enter the Novo Mercado segment.

After the conversion, Valepar - Vale's controlling shareholder - will merge with and into the mining company. Valepar is formed by Bradesco, Mitsui, BNDESPar and state pension funds, such as Previ. In this way, shareholders linked to the government will have smaller shares.

Asked about government participation in the company, Schvartsman said that this issue is "100% solved" and that government interference in the company "is a page turned." "Not that there was interference, but the government is very welcome as a minority shareholder," he said.

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Wall Street Higher as North Korea Tensions Dwindle Down

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U.S. stocks closed higher on Monday from the previous week's selloff, as traders saw geopolitical tensions subsiding.

The Dow Jones industrial average climbed 0.62 percent to 21,993.71, as Goldman Sachs, Apple and Boeing contributed the most advances.

The S&P 500 advanced one percent to 2,465.84, as the information technology ended at a record peak. The S&P also recorded its best day since April 24, when it climbed 1.08 percent. The Nasdaq composite gained 1.34 percent to 6,340.23, with shares of Amazon, Facebook and Tesla all increasing.

The CBOE Volatility index, Wall Street's fear gauge, dropped over three points after it jumped to a nine-month peak last week.

Technology shares were among stocks that gave the index its largest boost. Apple rose 1.5 percent and the S&P 500 technology index climbed 1.6 percent.

Tesla advanced 1.7 percent after two brokerages increased their price targets on the stock, citing possible success of the firm's Model 3 sedan.

Snap Inc rose 6.5 percent after notching a record low early in the session, as investors posted their stakes in the social media firm while a wave of employees became eligible to sell their shares.

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Australia Leading Index Climbs 0.12% In July

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The Australian economy picked up steam in July, the latest survey from Westpac Bank revealed on Wednesday.

The bank's leading index moved up 0.12 percent on month, the bank said.

That follows the downwardly revised 0.15 percent decline in June (originally 0.14 percent).

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Wall Street Flat as Retail Stocks Sharply Drop

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U.S. equities closed little changed on Tuesday as losses in Home Depot and other retailers followed results which counterbalanced strong U.S. retail sales data.

The Dow Jones industrial average edged up 0.02 percent to end at 21,998.99, with Home Depot contributing the most losses. The S&P 500 slipped 0.05 percent to 2,464.61, as telecommunications lagged behind. The Nasdaq composite was down 0.11 percent to 6,333.01.

The SPDR S&P Retail ETF (XRT) dropped 2.7 percent.

Advance Auto Parts marked their worst day ever after reporting lower-than-expected earnings. Dick's Sporting Goods tumbled 23 percent after its results fell short of expectations. The company also lowered its 2017 outlook.

Home Depot reported better-than-expected earnings and sales for the second quarter. However, its stocks dropped 2.7 percent. Investors seem to be worried about supply constraints in the housing market which could add more pressure on the company's future earnings. Bank stocks climbed following higher-than-expected economic data which raised Treasury yields.

General Electric fell 0.9 percent and dropped to an intraday low of $25.10, its weakest point since October 2015. A quarterly report from Warren Buffett's Berkshire Hathaway Inc revealed that it reduced its investment in the industrial company.

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Japan Has Y418.8 Billion Trade Surplus

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Japan had a merchandise trade surplus of 418.8 billion yen in July, the Ministry of Finance said on Thursday.

That topped forecasts for a surplus of 327.1 billion yen but was down from 439.8 billion yen in June.

Exports climbed 13.4 percent on year, beating forecasts for 13.2 percent and up from 9.7 percent in the previous month.

Imports picked up an annual 16.3 percent versus expectations for 17.1 percent and up from 15.5 a month earlier.

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UK Employment Notched Record Peak but Pay Remains Under Pressure

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British employment reached a record peak, but workers' wages are still being squeezed as productivity drops.

Official statistics that were recently published signified the resilience of the UK jobs markets and its constant underlying problem. The workforce has been less productive than it was a decade ago, while employers are reluctant to increase salaries.

In the three months to the end of June, another 125,000 people have found jobs. This means that 75.1 percent of all people between the ages of 16 and 64 were in work, the highest employment rate since records started in 1971.

The jobless rate dropped from 4.5 to 4.4 percent in the quarter, the lowest marked rate since 1975.

The majority of new jobs were full-time, while the count of people on insecure zero-hours contracts fell by 20,000 to 883,000.

The productivity of Britain's workers dropped 0.1 percent in the second quarter after a 0.5 percent decline in the first.

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European Markets as Banks, Energy Stocks Drop

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European shares broke their three-day winning streak on Thursday as banks declined after a cautious minutes from the U.S. Federal Reserve, while energy stocks were also under pressure.

The pan-European STOXX 600 index dropped 0.6 percent as eurozone blue chips fell 0.7 percent. Britain's FTSE 100 slipped 0.6 percent while Germany's DAX was down 0.5 percent.

European lenders, which benefit from higher interest rates, were the worst-performing sector as it fell 1.6 percent. Deutsche Bank and Commerzbank dropped which led the DAX lower with declines of 2.8 to three percent.

Societe Generale, Credit Agricole and BNP Paribas weighed on th France's CAC, tumbling 1.6 to 2.3 percent.

Energy stocks are the worst-performing European sectors so far in 2017, declining one percent.

Geberit led construction firms to the third-worst performance among Stoxx 600 groups, dropping 5.8 percent after its quarterly earnings fell short even of their lowest analyst estimate.

Hikma Pharmaceuticals plunged ten percent after the company trimmed its guidance for the generics business.

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