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Shock, Laughter Greet Plan for Saudi Arabia's Record Oil IPO (News 08/01/16)

Today's Press

  • Saudi Arabian Oil Co., or Aramco, the world’s largest oil producer, said Friday it’s considering an initial public offering. It confirmed an interview with Deputy Crown Prince Mohammad bin Salman published in the Economist Thursday. The news was greeted with incredulity in the financial industry, according to interviews with a half dozen bankers who do business in the Middle East. They asked not to be identified to protect their business interests.

  • The dollar rose more than half a percent against both the euro and yen on Friday as measures taken by China to ease this week’s market turmoil helped steady investors’ nerves over market moves there and their influence on global financial stability.

  • The nation’s labor market capped off a year of steady growth with an impressive sprint as employers added 292,000 workers to their payrolls in December, the government said on Friday.

Next Trading Day's Important Events

Forex Quotes:

  • USDJPY: 118.24
  • EURUSD: 1.0850

Indices:

  • S&P 500: 1,943.09
  • NASDAQ : 4689.4

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