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UPDATE 9-Oil edges up in volatile session but falls for sixth straight week

*OPEC could cut supply by 1.4 mln bpd to prevent glut. NEW YORK, Nov 16- Oil ended slightly firmer after volatile trading on Friday, supported by expectations that the Organization of the Petroleum Exporting Countries would agree to cut output next month, though prices fell for the sixth straight week amid global oversupply concerns. OPEC kingpin Saudi Arabia is...

Source: Reuters

US STOCKS-Wall St advances on trade optimism; Nvidia, Facebook lag

NEW YORK, Nov 16- The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods. U.S. stocks moved higher, however, after President Donald Trump said China seemed willing to make a deal on trade and that the United States may not have to impose further tariffs on the Chinese...

Source: Reuters

US STOCKS-S&P 500 wavers after Trump trade comments, Nvidia hits Nasdaq

Nov 16- The S&P 500 swung between gains and losses on Friday following conflicting reports on a U.S. trade deal with China, while weakness in chipmaker Nvidia weighed on the Nasdaq. President Donald Trump said the United States may not have to impose further tariffs on China, but added the situation was still not acceptable to him. Stocks have been volatile as...

Source: Reuters

UPDATE 7-Oil edges up in volatile session as it heads for weekly loss

*OPEC could cut supply by 1.4 mln bpd to prevent glut. NEW YORK, Nov 16- Oil traded up slightly in a volatile session on Friday, supported by expectations that the Organization of the Petroleum Exporting Countries would agree to cut output next month, though prices were set to for a weekly drop on underlying oversupply worries. OPEC kingpin Saudi Arabia is keen for...

Source: Reuters

US STOCKS-S&P 500 edges lower on chip, retail weakness

Nov 16- The S&P 500 edged lower on Friday as gains in energy stocks were offset by declines in chip and retail companies, after weak results from Nvidia and Nordstrom. Energy stocks rose 0.6 percent as oil prices recovered from sharp losses this week on expectations that OPEC and its allies would agree to cut output next month. Despite the fact that these are strong...

Source: Reuters

UPDATE 6-Oil gains as OPEC mulls cuts; set for weekly drop on oversupply fears

*OPEC could cut supply by 1.4 mln bpd to prevent glut. NEW YORK, Nov 16- Oil rose nearly 1 percent on Friday on expectations that the Organization of the Petroleum Exporting Countries and its allies would agree to cut output next month, though prices were set to for a weekly drop on underlying concerns that the global market was oversupplied. OPEC kingpin Saudi...

Source: Reuters

UPDATE 1-Frontline beats forecast as oil tanker market improves

*OPEC cuts, Iran sanctions may impact tanker demand. The Oslo- listed shipper, controlled by billionaire investor John Fredriksen, said the outlook was improving due to rising global demand for crude after a lengthy downturn for shippers. Frontline, which will not pay a dividend for the third quarter, rose 4.7 percent in early trade but gave up most gains to trade...

Source: Reuters

GLOBAL MARKETS-Dollar, U.S. yields fall on Fed comments; Brexit casts shadow

*Wall St little changed as Nvidia tumbles. NEW YORK, Nov 16- The U.S. dollar weakened and Treasury yields pulled back on Friday after a top Federal Reserve official said U.S. interest rates are near a neutral rate, while continued uncertainty over Brexit clouded currency and other markets. Investors are starting to look at the vice chairmans remarks this morning as...

Source: Reuters

Saudi Arabia is slashing oil shipments to US, a tactic that boosts prices and may rile Trump

Saudi Arabia is loading fewer barrels on ships bound for the United States, a tactic the kingdom used last year to amplify the impact of coordinated production cuts with OPEC and Russia.

Source: CNBC.com

Morning update: Wall Street set to fall | Chip stocks sink | Embattled oil bounces

U.S. stock futures were indicating a sharply lower open this morning after the Dow and S&P 500 broke multi-session losing streaks.

Source: CNBC.com