Business
U.S. Stock Futures Rise
NEW YORK — U.S. stock futures edged higher, putting the S&P 500 back near record territory, as investors shrugged off some overseas weakness.
European markets slipped, pulling back from a six-year high, as worries over pressure on Ukraine’s currency offset upbeat data out of Germany.
About 90 minutes ahead of the open, Dow Jones Industrial Average futures gained 23 points, or 0.1%, to 16210. On Tuesday, the Dow erased an early gain of as much as 59 points to close down 27 points, or 0.2%.
S&P 500 index futures rose three points, or 0.2%, to 1849 and Nasdaq-100 futures tacked on six points, or 0.2%, to 3694. Changes in stock futures don’t always accurately predict stock moves after the opening bellThe S&P 500 rose into record territory for a second-straight session on Tuesday, but reversed course to end the day 0.2% below its Jan. 15 all-time closing high of 1848.38.
Stocks have rallied over the past several weeks as investors think the recent string of disappointing economic releases, including Tuesday’s drop in consumer confidence, was a result of bad weather in parts of the country, and therefore temporary.
“We’ve erased the January gloom, and turned back to investing,” said Mark Lehmann, president investment bank JMP Securities.
He thinks that despite a stretch of bad weather and some worries about emerging markets, some of the same factors that produced the strong gains in 2013 will continue to play out in 2014. “The upside may not be as great” this year, Mr. Lehmann said. “But [the U.S.] market has taken over people’s focus, and it’s still pretty good. It’s still the place to be.”
At 10 a.m. ET, new-home sales for January are expected to show a 3.1% drop to a seasonally adjusted annualized rate of 401,000.Earlier, the Mortgage Bankers Association said mortgage applications fell 8.5% on a seasonally adjusted basis in the latest week, with the purchase index dropping 4% to the lowest level since 1995.
The yield on the 10-year Treasury note rose to 2.719% from 2.701% late Tuesday, a two-week low.
Gold futures slipped 0.4% to $1,337.70 an ounce, after settling Tuesday at a near four-month high, while crude oil futures added 0.5% to $102.33 a barrel. The dollar gained some ground against the euro and the yen.
In Europe, the Stoxx Europe 600 slipped 0.3%, after closing Tuesday at the highest level since Jan. 14, 2008.
Ukraine’s hryvnia fell to another low against the dollar and has tumbled almost 10% since Monday, as expectations have grown that Ukraine will have to devalue its currency significantly to secure needed financial assistance.
Meanwhile, the GfK German consumer climate indicator for March rose to a six-year high of 8.5 points, topping expectations of 8.2 points. In addition, the second estimate of fourth-quarter U.K. gross domestic product showed growth of 0.7%, matching expectations.Germany’s DAX 30 index lost 0.3%, France’s CAC 40 gave up 0.5% and the U.K.’s FTSE 100 declined 0.4%.
In Asia, China’s Shanghai Composite gained 0.3% to snap a four-session losing streak, while Japan’s Nikkei Stock Average lost 0.5%.
Among some early stock movers, Tesla Motors climbed 4% in active premarket trading. The stock has run up 18% over the past two sessions to an all-time high, ahead of an expected announcement of a battery-production partnership.
Lowe’s rallied 3.9% after the home-improvement retailer reported fiscal fourth-quarter earnings that were in line with analyst estimates, and added $5 billion to its stock-buyback program.
DreamWorks Animation slid 10% after the computer-animation studio reported fourth-quarter revenue that fell more than expected, offsetting adjusted earnings that were in line with forecasts.
Abercrombie & Fitch climbed 7.9% after reporting better-than-expected fiscal fourth-quarter adjusted earnings, citing strength in its direct-to-consumer business and improving same-store sales trends.
– WALLSTREET JOURNAL
Chevron Nigeria won the second-best exhibitor award at the just-concluded 2026 Nigerian Association of Petroleum Explorationists (NAPE) conference and exhibition at Eko Hotels and Suites, Victoria Island, Lagos.
Biztellers reports that Olajumoke Cecilia Ajayi, FNAPE, NAPE President (2025–2026) and Managing Director/CEO of Ingentia Energies Limited, presented the award to Chevron, during the awards dinner on November 12, 2026.
The award is in recognition of Chevron’s outstanding exhibition, where visitors to its booth, particularly students, took part in Geology/Geophysics presentations and quizzes, word games, and Human Resources/Nigerian Content presentations and quizzes, with gifts for winners and participants.
Commenting on the award, the leader of the Chevron’s exhibition team, Dr. Victor Anyaegbudike, Manager Communications, Chevron companies in Nigeria and the Mid Africa Region, commended NAPE for its commitment to hosting the annual conference and exhibition. He noted that Chevron has operated in Nigeria for over 60 years, contributing to the country’s growth and development and making human investments that yield long-term, transformative returns.
READ ALSO: Tinubu, Shettima Head to Jos for APC Presidential Campaign Rally
“At Chevron Nigeria, we drive innovation and investment to open up opportunities for growth, jobs, productivity and lasting value. Forums like the NAPE conference and exhibition matter because they bring government, academia, students and industry together around shared goals and a better understanding of one another,” he remarked.
Victor noted that Chevron is committed to building productive, collaborative and mutually beneficial relationships, grounded in trust, with governments, partners, customers, communities and employees. “We believe that affordable, reliable and ever-cleaner energy is vital to a more prosperous and sustainable world,” he said.
Attendees at the NAPE conference and exhibition included representatives of the Federal Government of Nigeria, industry regulators, industry leaders, academics, and students from tertiary institutions across the country.
The Nigerian Exchange Limited (NGX) recorded a 1.36 per cent weekly gain as its market capitalisation increased to ₦163.80 trillion at the close of trading on Friday, November 13, 2026.
The NGX All-Share Index (ASI) rose to 252,269.16 points, pushing the market’s year-to-date return to 62.11 per cent.
The performance reflected a positive trading week for the equities market, with 43 listed companies recording price appreciation, compared with 29 in the previous week.
SEE MORE:NGX Market Cap Falls to ₦163.65trn As All-Share Index Drops
According to the Exchange’s weekly market report, investors traded 8.03 billion shares valued at ₦185.36 billion in 160,836 deals during the week.
This represented a significant increase in trading volume from the 2.83 billion shares exchanged in 192,158 deals in the preceding week, although the total value of transactions declined from ₦208.41 billion.
The Financial Services Industry dominated trading activities, accounting for 4.85 billion shares worth ₦95.79 billion. This represented 60.45 per cent of the total equity turnover volume and 51.68 per cent of turnover value.
The Agriculture Industry followed with 2.24 billion shares valued at ₦22.78 billion, while the Consumer Goods Industry recorded 260.99 million shares worth ₦11.89 billion.
Further details of the market performance showed that 39 equities declined during the week, compared with 57 in the previous week, while 64 equities closed unchanged against 60 recorded in the preceding period.
On the gainers’ chart, Champion Breweries Plc emerged as the best-performing stock, appreciating by 27.27 per cent, while LivingTrust Mortgage Bank Plc recorded the biggest loss, declining by 18.53 per cent.
Meanwhile, trading in Exchange-Traded Products (ETPs) stood at 1.21 million units valued at ₦278.97 million in 3,351 deals, compared with 1.46 million units worth ₦381.82 million in 4,085 deals in the previous week.
The fixed-income segment recorded 156,612 units valued at ₦177.88 million in 41 deals, against 21.99 million units worth ₦20.60 billion in 48 deals recorded in the preceding week.
The Exchange also recorded the listing of two commercial paper instruments issued by Thrive Agric Limited.
The instruments comprised ₦3.17 billion Series 1 (Tranche A) and ₦2.09 billion Series 1 (Tranche B) Commercial Papers, with a combined value of approximately ₦5.26 billion.
Nigeria produced a daily average of 1.687 barrels of crude oil and condensate in October 2026, and met its OPEC quota for the sixth consecutive month.
Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) showed that in strict crude oil terms (excluding condensate), the country produced an average of 1.51mbpd in October.
This is 101 percent of the 1.5mbpd quota set by OPEC.
READ ALSO: NLNG, NCDMB Endow Research Chairs in Six Nigerian Varsities with $9m
The data, released on Wednesday, also shows that single-day production hit a peak of 1.79 million barrels, while the lowest for the month under review stood at 1.60 million bpd.
The crude oil data (excluding condensate) shows that Nigeria has met its assigned OPEC quota for six straight months, producing 1.53mobpd in May; 1.55mobpd in June; 1.51mobpd in July; 1.5mobpd in August, 1.53mobpd in September and 1.51mobpd in October.
On a month of month basis, however, production dipped by 1.7 percent.
The NUPRC attributed the stable performance in recent months to an enhanced operational stability, supported improved production uptime and crude evacuation efficiency.
The sustained growth recorded in October reflects the continued commitment of operators and industry stakeholders towards improving operational efficiency, maintaining asset integrity, and enhancing production reliability across the Nigerian upstream petroleum sector.
A breakdown of the daily average crude oil and condensate production by terminals/streams during the review month shows that Forcados Terminal accounted for 318.49kbpd while Bonny comes second with 311.02kbpd.
Qua Iboe Terminal recorded an average production of 173.97kbpd of crude oil and condensates while Escravos Oil Terminal posted a daily average of 134.67kbpd.
Bonga ranked as the fifth highest producing terminal, recording an average of 106.65kbpd of crude oil and condensate.
40% of Breadmakers Shut Down as Atiku Accuses Tinubu of Economic Failure
ADC Fires Back at NBA Over Kalu, Says ‘No Respectful Way to Address Evil’
INEC Debunks Amupitan Resignation Rumour After London Protest, Voter Register Controversy
Chevron Nigeria Emerges Second-best Exhibitor at NAPE 2026
NGX Gains 1.36% as Market Capitalisation Climbs to ₦163.80trn
Shettima, Wife Depart Abuja for Jos as Tinubu–Shettima Campaign Takes Rally to Plateau
Trump’s Family Unveils New Cryptocurrency Platform
Senate Denies Receiving Petitions Against Tinubu’s Ambassadorial Nominees
Dangote Cement Lights Up Benue Host Communities With CSR Initiatives
Reps Recommend 3-year Jail Term For Aviation minister
Tems Sets New Record On Billboard Hot 100 Chart
