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Dropbox Acquires Electronic Signature Company HelloSign in $230 Million Deal

9:34 AM, Jan 28, 2019 — Dropbox (DBX) is paying $230 million to acquire HelloSign, an electronic signature platform, adding the digital document capabilities to the suite of offerings available from the work collaboration company.

The deal to acquire HelloSign is expected to close in the first quarter of this year, the companies said in a statement on Monday. HelloSign allows users to sign documents themselves or send out requests for signatures and it has more than 80,000 customers, the firms said.

It also offers a browser extension for Alphabet’s (GOOGL) Chrome for Gmail and the HelloWorks service to allow companies to fill out paperwork faster, as well as online fax services.

Dropbox’s shares were slightly weaker in early trading. Rival e-signature company DocuSign (DOCU) was down more than 2% and Adobe (ADBE), which also offers digital document services, was about 0.5% lower.

“We waste so much time using clunky tools that were designed for yesterday’s work environment,” HelloSign’s co-founder and chief executive, Joseph Walla, said in the statement. “Together with Dropbox, we can bring more seamless document workflows to even more customers and dramatically accelerate our impact.”

Walla said they “share a design philosophy” with Dropbox, which aims for more efficiency in its business models and sales strategies.

Dropbox’s CEO Drew Houston said bringing in HelloSign will “deliver an even better experience to Dropbox users, simplify their workflows, and expand the market we serve.”

Price: 23.47 Price Change: -0.43 Percent Change: -1.80

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Weekly Commodities ETF Report: Crude Sees First Decline in Four Weeks; Gold Closes Week Higher on Temporary End to Government Shutdown

(MT Newswires) – Crude prices ended Friday’s session higher but recorded their first weekly decline in four weeks after domestic supplies in the US hit their highest level in two months, outweighing the impact of political turmoil in Venezuela, a country whose oil reserves are bigger than Saudi Arabia’s. The Energy Information Administration (EIA) said that crude oil inventories in the US soared by 8 million barrels over a week to Jan. 18. That increase compares with expectations for a 42,000 barrel-drop in a Reuters’ survey of analysts. The report was released a day later than usual due to the Martin Luther King, Jr. holiday on Jan. 21. At 445.0 million barrels as of Jan. 18, excluding special reserves, the inventories are 9% above their five-year average for this time of year, the EIA report noted. It is also the highest level since late November. The EIA, in its annual 2019 report, which was also released Thursday, said the US produced almost 11 million barrels per day of crude oil in 2018, exceeding its previous 1970 record of 9.6 million barrels per day. The American Petroleum Institute had said Tuesday that crude oil stocks jumped by 6.6 million barrels last week to 443.6 million. Finally, the number of oil rigs operating in the US jumped by 10, after having slumped by 21 last week, to 862, according to data from energy services firm Baker Hughes (BHGE), which tracked the seven-day period ending Jan. 25. The combined oil and gas rig count in the US was rose by nine to 1,059 as gas rigs fell by one to 197.

Light, sweet crude oil for March delivery fell 0.74% for the week, settling at $53.69 per barrel at the end of Friday’s session. In other energy futures, gasoline fell during the week, down 3.93% and settling at $1.40 per gallon on Friday. Natural gas for March delivery declined 3.86% this week at $3.07 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 0.06% lower this week, compared with an increase of 1.10% in the previous week.

Gold wrapped up the Friday session higher, closing at $1,304.20, to end the week up 1.57%. The yellow metal’s gains came on the back of a subdued dollar, with traders looking ahead to the Federal Reserve’s monetary policy meeting next week. It is speculated that the Fed might leave interest rates unchanged or speak about pausing interest rate hikes sometime soon. Meanwhile, after two separate proposals to re-open the government failed in the Senate on Thursday, President Donald Trump said Friday that he would approve an agreement to end the longest-ever government shutdown — allowing the government to re-open until Feb. 15, with federal employees getting salaries — while work goes on toward a deal for border security. Trump also reassured workers that they would be given back pay for the days they had been furloughed. Copper, on the other hand, finished Friday’s session at $2.73 per pound, closing the week up 0.85%, after Freeport McMoRan, the world’s second-biggest copper miner, forecast a drop in output in 2019. The company, which reported its fourth-quarter earnings results on Thursday, said that it expects sales volumes for the year 2019 to approximate 3.3 billion pounds of copper.

Agriculture commodities ended the week mixed: among grains, wheat edged 0.82% higher and settled at $5.20 per bushel at the end of Friday’s session; corn was slipped 0.13% in the week and settled at $3.80 per bushel in Friday’s session; and soybeans managed to eke out a weekly gain of 0.93%, closing at $9.25 per bushel on Friday, even as trade concerns have been weighing on the commodity for the past five days. A delegation from China is set to arrive in the US next week for trade negotiations, but markets are skeptical about the two nations striking a trade deal anytime soon. On Thursday, Commerce Secretary Wilbur Ross, in an attempt to underscore the complexity of a mutually beneficial trade deal, said in an interview with CNBC that a resolution to the trade conflict is still “miles and miles” away. But the outlook for soybeans was slightly upbeat as Brazil lowered its forecast for the 2018-19 soybean harvest to 16.8 million tonnes from the previous 19.1 million tonnes, after the Parana state, the country’s second-largest soybean producer, experienced a dry spell last month. Meanwhile, other commodities such as sugar had a weekly increase of 4.30% and settled at a price of $0.12 per pound on Friday; coffee was around $1.07 per pound at Friday’s close, up 1.33% for the week; and cocoa fell 3.08% for the week and closed Friday’s session at $2,225 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was 0.19% lower for the week, compared with an increase of 0.65% in the prior week.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

 

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

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Colgate-Palmolive Reports Slower Sales in Fourth Quarter Amid Declines in Latin America, Europe, Asia

9:22 AM, Jan 25, 2019 — Colgate-Palmolive Company (CL) said fourth quarter sales fell year-on-year as Latin America, Asia Pacific and Europe slowed, but both earnings and sales still came in ahead of Wall Street’s expectations.

Net sales fell to $3.81 billion from $3.89 billion a year earlier, while the consensus on Capital IQ was for $3.78 billion. Non-GAAP earnings were $0.74 a share in the final quarter of 2018, a penny below the 2017 comparison but just ahead of the Street’s projection for $0.73.

Organic sales rose 2% in the quarter while the gross profit margin dipped to 59.1% from 59.8% a year earlier. Excluding charges from the company’s efficiency program, the margin was 59.4%, down 100 basis points from the year ago period “as higher raw and packaging materials costs were partially offset by cost savings from the company’s funding-the-growth initiatives and higher pricing.”

The maker of Hill’s pet food and Speed Stick deodorant said North American net sales rose 5% in the fourth quarter as Colgate toothpaste held on to a leadership spot in that category. Latin American sales fell 9% with declines in Brazil and Argentina that were partially offset by volume gains in Mexico.

Sales were down 2.5% in Europe and fell 6.5% in Asia Pacific while Africa and Eurasia sales decreased 5% in the quarter.

Shares were down about 2% in early trading on Friday.

Colgate-Palmolive’s chief executive Ian Cook said they were “pleased with the improvement in organic sales growth” while projecting an increase in the figure of 2% to 4% for this year. Net sales are projected flat to up low single digits, Cook said.

Excluding charges from its efficiency program and tax-related matters, “we are planning for a year of gross margin expansion, increased advertising investment and a mid-single-digit decline in earnings per share,” Cook said. “Our outlook reflects an increase in raw material prices, an increase in our tax rate year-over-year and the uncertainty surrounding the global economy, exchange rates and pricing.”

Companies: Colgate-Palmolive Company
Price: 61.00 Price Change: -1.20 Percent Change: -1.93

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Weekly Commodities ETF Report: Crude Climbs for the Week as OPEC Reports Production Cut; Optimism for US-China Trade Deal Boosts Copper, Soybeans

(MT Newswires) – Crude prices ended Friday’s session higher, hovering near one-month highs to close the week in positive territory after members of the Organization of the Petroleum Exporting Countries (OPEC) reported the biggest monthly drop in production in nearly two years as part of efforts to keep oil markets balanced over the whole of 2019. Collective output from OPEC members fell by 751,000 barrels a day last month, to 31.58 million as part of the agreement reached at the meeting Dec. 7 in Vienna. Separately, the International Energy Agency (IEA) said in a closely-watched report that the level of crude output from the US would once again be a major factor this year, saying that ” …the US, already the biggest liquids supplier, will reinforce its leadership as the world’s number one crude producer. By the middle of the year, US crude output will probably be more than the capacity of either Saudi Arabia or Russia.” Meanwhile, the latest data from the Energy Information Administration showed that crude oil inventories in the US fell by 2.68 million barrels in the week ended Jan. 11. That was much higher than the expected drop.  The American Petroleum Institute said Tuesday that crude oil stocks fell 560,000 barrels last week to 437 million barrels, less than the 1.3 million barrel-decline expected. Finally, Baker Hughes (BHGE) said Friday that the number of oil rigs operating in the US plunged by 21 in the week to 852, the lowest level in seven months.

Light, sweet crude oil for February delivery rose 3.89% for the week, settling at $53.80 per barrel at the end of Friday’s session. In other energy futures, gasoline rose during the week, up 2.60% and settling at $1.47 per gallon on Friday. Natural gas for March delivery jumped 6.91% for the week at $3.24 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 1.10% higher this week, compared with an increase of 1.72% in the previous week.

Gold wrapped up the Friday session lower, closing at $1,282.60, to end the week down 0.59%– the first weekly loss since mid-December. The yellow metal’s weakness came on the heels of positive developments in the US-China trade talks, which lifted stocks, while comments from New York Fed President John Williams hinting at a pause in interest rate hikes helped strengthen the dollar. Investors are optimistic about the possibility of a trade deal between the US and China ahead of a scheduled visit to the US by Chinese Vice Premier Liu He. The visit will be on Jan. 30-31, during which trade negotiations are expected to continue. Meanwhile, Williams said Friday in remarks delivered to the New Jersey Bankers Association that the Federal Reserve might consider pausing rate hikes or adjusting the path of balance sheet normalization after recent data pointed to easing economic tailwinds. He is the latest in a series of Fed officials who have hinted at a pause in interest rate increases. Copper, on the other hand, finished Friday’s session at $2.72 per pound, closing the week up 2.05%, with gains spurred on by optimism that a bilateral trade deal between the US and China can finally be reached; specifically, Treasury Secretary Steven Mnuchin had reportedly proposed easing tariffs on Chinese imports to give China an incentive to make better trade concessions. The plan faced some opposition from Trade Representative Robert Lighthizer, however, who raised concerns that it might show weakness from the US. For months, prices for metals, particularly copper, have been driven lower by the trade deadlock between the two countries – with fears that tariffs would exacerbate the slowdown in global growth. China accounts for about half of global copper demand.

Agriculture commodities ended the week mixed: among grains, wheat fell 0.58% and settled at $5.18 per bushel at the end of Friday’s session; corn was up 0.46% in the week and settled at $3.82 per bushel in Friday’s session; and soybeans rose 0.49% for the week, closing at $9.17 per bushel on Friday. On Thursday, CNBC, citing tanker-tracking firm ClipperData, reported that soybean shipments to China at the start of this year declined some 37% compared with the same period in 2018. The decline has raised concerns for US farmers, but the latest developments in the trade negotiations between the US and China have been encouraging. Specifically, China said Friday that it is willing to increase imports from the US by $1 trillion over the next six years, according to a report from Bloomberg. The “buying spree” would reduce China’s trade surplus to zero by 2024. Negotiators on the US side, however, were skeptical of the plan, and had asked that the trade gap should be closed in as early as two years. It was also unclear if the products in this ” buying spree” would include agricultural commodities such as soybeans. Meanwhile, other commodities such as sugar had a weekly increase of 2.35% and settled at a price of $0.13 per pound on Friday, while coffee was around $1.05 per pound at Friday’s close, up 1.35% for the week and cocoa fell 2.21% for the week and closed Friday’s session at $2,307 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was 0.65% higher for the week, compared with a decline of 0.68% in the prior week.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

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Netflix Fourth Quarter Earnings Beats Guidance But Revenues Miss Forecast

7:04 AM, Jan 18, 2019 — Netflix (NFLX), one of the biggest providers of entertainment streaming services in the world, posted earnings that beat market expectations while revenue grew on stronger subscriber growth in the fourth quarter.

Revenues rose to $4.19 billion during the three months that ended December 31, from $3.29 billion a year ago, as a record 8.8 million paid memberships were added on the back of popular shows such as Bird box, the company said in a letter to shareholders late Thursday. Higher sales, however, fell short of the $4.21 billion average analyst estimate compiled by Capital IQ.

Profit did not keep pace with growing sales as earnings per diluted share at $0.30 lagged $0.41 a year earlier. But that result comfortably exceeded the market consensus of $0.24 per share. This comes as Netflix noted that it increased prices in the US for new members, as it did in the fourth quarter in Canada and Argentina, as well as in Japan in the third quarter.

“The new pricing in the US will be phased in for existing members over the first and second quarters, which we anticipate will lift ASP [average selling price],” the company said in the letter.

Looking ahead, the firm expects to grow subscriber numbers to 8.9 million global paid net additions in the first quarter. The bulk of that growth will continue to come from overseas markets, where 7.3 million new additions are expected, while the US market is forecast to increase by 1.6 million. That compares with 7.3 million and 1.5 million, respectively, in the fourth quarter.

In the first quarter, Netflix expects earnings per diluted share at $0.56, missing the consensus projection estimate of $0.84 per share, and revenue of $4.49 billion, which was also below the Street’s projection view of $4.61 billion.

Companies: Netflix, Inc.
Price: 345.60 Price Change: -7.59 Percent Change: -2.15

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Walmart Leaves CVS Health’s Caremark, Managed Medicaid After Failing to Agree on Pay Rates

2:02 PM, Jan 15, 2019 — CVS Health (CVS) said Walmart (WMT) has decided to opt out of its Caremark pharmacy benefit management commercial and Managed Medicaid retail pharmacy networks after they failed to agree on payment terms.

However, the retail pharmacy and healthcare company added that it “remains open to continuing timely good faith negotiations with Walmart in the hopes of reaching an agreement,” according to statement released on Tuesday.

“Walmart’s requested rates would ultimately result in higher costs for our clients and consumers,” said Derica Rice, president of CVS Caremark, the pharmacy benefit management business of CVS Health. “Based on our commitment to helping our clients and consumers manage rising pharmacy costs, we simply could not agree to their recent demands for an increase in reimbursement.”

The Woonsocket, Rhode Island-based company has requested that Walmart continue to fill prescriptions as an in-network participating pharmacy through April 30 as it continued to be “hopeful that Walmart will agree to work amicably with us.”

The transition, which “must place patient care as the highest priority,” does not impact Walmart’s participation in the CVS Caremark Medicare Part D pharmacy network. Similarly, Walmart’s warehouse chain, Sam’s Club, will remain in the CVS Caremark pharmacy networks.

If the partnership unwinds, CVS said it doesn’t foresee a material impact on its 2019 financial results because less than 5% of affected CVS Caremark members use Walmart exclusively to fill their prescriptions. Moreover, the average distance that a member would need to travel to reach an in-network pharmacy, without Walmart in the network, remains virtually unchanged, according to CVS.

Members affected by this network change will be notified as CVS said it would help them identify nearby in-network pharmacies where they can fill their prescriptions.

Companies: Walmart Inc.
Price: 96.07 Price Change: +1.12 Percent Change: +1.18

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Pacific Gas & Electric Will Declare Chapter 11 Bankruptcy Amid Fallout From California Wildfires

7:58 AM, Jan 14, 2019 — Pacific Gas & Electric Co (PCG) will file for Chapter 11 bankruptcy in a bid to resolve its liabilities from wildfires in northern California in 2017 and 2018.

The company said its committed to making investments in systems safety and working with regulators, lawmakers and other stakeholders to provide natural gas and electricity in a market that “continues to be challenged by climate change.” PG&E will file petitions to reorganize on or about Jan. 29, after the required 15-day notice period expires.

“(PG&E) doesn’t expect any impact to electric or natural gas service for its customers as a result of the Chapter 11 process,” the company said in a statement early Monday morning. ” PG&E remains committed to assisting the communities affected by wildfires in Northern California, and its restoration and rebuilding efforts will continue. The company also expects that its employees will continue to receive their pay and healthcare benefits as usual.”

Shares were down almost 44% in pre-bell trading Monday.

PG&E Interim Chief Executive John R. Simon said in the statement that management understands it needs to enhance its wildfire mitigation processes and that Chapter 11 will enable the company to resolve its potential liabilities as efficiently as possible.

Simon was named interim CEO after former CEO Geisha Williams, who was in charge of the utility since March 2017, stepped down on Sunday. Simon was executive vice president and general counsel before taking the company’s reins.

Chairman of the Board Richard Kelly said a Chapter 11 is the “only viable option” to address PG&E’s responsibilities to stakeholders.

“Our goal will be to work collaboratively to fairly balance the interests of our many constituents — including wildfire victims, customers, employees, creditors, shareholders, the financial community and business partners — while creating a sustainable foundation for the delivery of safe service to our customers in the years ahead,” he said. “The Chapter 11 process allows us to work with these many constituents in one court-supervised forum to comprehensively address our potential liabilities and to implement appropriate changes.”

Companies: Pacific Gas & Electric Co.
Price: 9.89 Price Change: -7.70 Percent Change: -43.77

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Weekly Commodities ETF Report: Crude, Precious Metals End Week Higher on Positive US-China Trade Developments

(MT Newswires) – Crude prices ended the week higher, as investors increasingly see efforts by the Organization of the Petroleum Exporting Countries (OPEC) and other oil producing countries to curb output succeeding – and supporting prices this year. OPEC and its allies agreed in early December to trim 1.2 million barrels per day from the market for the first six months of 2019, and possibly beyond after assessing the market again at a meeting scheduled for April.  Also helping buoy crude prices were hopes that the US and China can reach a reasonable trade deal before a March 2 deadline, although this optimism slowly dwindled as the week went on. Three days of US-Chinese talks aimed at ending a costly tariff battle wrapped up Wednesday on a high note, with China’s Commerce Ministry saying that the two sides held an “extensive, in-depth, and detailed exchange” on trade issues, including structural factors. Further negotiations are set to follow this month. Meanwhile, the latest data from the Energy Information Administration showed that domestic crude supplies fell by 1.7 million barrels for the week ended Jan. 4, compared with expectations for a decline of 1.4 million barrels in crude supplies, according to S&P Global Platts estimates. The American Petroleum Institute had said Tuesday that US crude oil stocks fell 6.1 million barrels. Finally, Baker Hughes (BHGE) said Friday that the number of oil rigs operating in the US fell by four to 873, the third consecutive sequential decline. It was the lowest level since Dec. 14. A year ago, the US oil rig count was at 752. The North American total was higher by 108 in the week to 1,259, also up from the year-ago tally of 1,215.

Light, sweet crude oil for February delivery rallied 6.98% for the week, settling at $51.59 per barrel at the end of Friday’s session. In other energy futures, gasoline rose during the week, up 3.60% and settling at $1.40 per gallon on Friday. Natural gas for March delivery jumped 3.58% this week at $2.95 per 1 million British thermal unit.

The SummerHaven Dynamic Commodity Index Total Return Index (SDCITR) was 1.72% higher this week, compared with an increase of 0.44% in the previous week.

Gold closed the Friday session in positive territory, closing at $1,289.50, to end the week 0.18% higher, but failing to breach the psychologically important $1,300-an-ounce level. The yellow metal managed to settle higher after equities lost some ground due to profit taking and on concerns about the ongoing government shutdown and skepticism about a potential trade deal between the US and China. Recent comments by Federal Reserve Chairman Jerome Powell that the central bank will be patient in determining when to hike interest rates weighed on the greenback earlier in the day. However, the currency forced its way up against most major currencies as the session progressed and the dollar index edged up slightly to 95.20. One of the key economic data releases during the week was the December consumer price index, which slipped by 0.1% after coming in unchanged in November. Excluding food and energy prices, the core consumer price index rose by 0.2% in December, matching the increases seen in the two previous months as well as expectations. On the other hand, copper also benefitted from the positive US-China trade developments as well as from the dovish statements from the Federal Reserve, which in turn pushed the dollar lower. Copper ended Friday’s session up at $2.66 per pound and up 0.49% for the last five days – the biggest weekly gain since mid-November.

Agriculture commodities ended the week mixed: among grains, wheat rose 0.73% and settled at $5.20 per bushel at the end of Friday’s session; corn was down 0.98% in the week and settled at $3.78 per bushel in Friday’s session; and soybeans fell 1.27% for the week, closing at $9.10 per bushel on Friday. This was the first time in the last three weeks that soybeans fell, slipping to the weakest level since Jan. 3, as the market awaits more purchases from China. Also, Brazil is set to harvest its soybean crop and will therefore provide some competition for US soybeans. Meanwhile, other commodities closed higher on the week;   sugar had a weekly increase of 6.96% and settled at a price of $0.13 per pound on Friday; coffee was around $1.04 per pound at Friday’s close, up 2.31% for the week; and cocoa rose 0.08% for the week and closed Friday’s session at $2,356 per tonne.

The SummerHaven Dynamic Agriculture Index Total Return Index (SDAITR) was 0.68% lower for the week, compared with the 0.25% increase in the prior week.

 

Copyright © 2019 MT Newswires, www.mtnewswires.com.

Information Contact: Justin Hillstrom – 720.917.0770 Email: Justin.hillstrom@alpsinc.com, Website is www.uscfinvestments.com

Investing involves risks, including loss of principal.

Commodity ETP Disclosures:  Download a copy of a Fund’s Prospectus by clicking one of the following:
USCIUSAGUSOUSLUSOUDNOUSODBNOUNGUNL, UGAUHN, or CPER  

Please read any Prospectus carefully before investing.

These Funds are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder.

Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. Investing in commodity interests subject each Fund to the risks of its related industry. An investor may lose all or substantially all of an investment. These risks could result in large fluctuations in the price of a particular Fund’s respective shares. Funds that focus on a single sector generally experience greater volatility. Leveraged and inverse exchange-traded products pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.

Please read the Prospectus carefully before investing.

Performance is historical and does not guarantee future results; current performance may be lower or higher. Investment returns/principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Most recent performance is available at www.uscfinvestments.com.

Past performance does not guarantee future results.

This information is intended for U.S. residents.

Funds distributed by ALPS Distributors, Inc. 

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Target Comparable Sales Growth in 2018 Set to be Strongest in 13 Years as Digital Underpins Group Revenue

8:23 AM, Jan 10, 2019 — Target (TGT), the eighth-largest department store retailer in the US, said early Thursday it was on track to deliver the strongest full-year comparable sales growth since 2005, market-share gains across all of core merchandising categories and double-digit growth in adjusted earnings per share in 2018.

The company said in a statement that comparable sales in November and December jumped by 5.7%, topping the 3.4% growth recorded in the same period last year. The company said it continued to expect fourth-quarter comparable revenue growth of about 5%.

“Results reflected strong traffic, positive store comps and comparable digital sales growth of 29%,” Target said in its statement. 2018 was set to be the fifth consecutive year in which digital sales would grow by more than 25%.

For the full year, Target continues to expect adjusted earnings per share to come in the range of $5.30 to $5.50, straddling the Street’s projection of $5.39. The company, which maintained its quarterly dividend at $0.64 per share, reported pro-forma earnings of $4.71 per share in 2017.

The company also said Chief Financial Officer Cathy Smith will retire, but will continue in her role until a successor is named then move to an advisory position until May 2020 to ensure a smooth transition.

Chief Information Officer Mike McNamara will now lead the firm’s enterprise data analytics and business intelligence team in addition to heading its technology services unit, Target said.

Chief Marketing Officer Rick Gomez has now been named Target’s chief marketing and digital officer, and will now lead the firm’s digital team, focusing on its role in personalization, loyalty and the overall shopping experience.

Companies: Target Corporation
Price: 68.31 Price Change: -1.98 Percent Change: -2.82

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Canada Keeps Key Rate on Hold for Second Time as Growth Outlook Lowered Amid Oil Slowdown

11:07 AM, Jan 9, 2019 — Canada’s central bank kept its benchmark lending rate on hold Wednesday while lowering its view for 2019 growth as the country’s economy faces the impact of lower oil prices.

The Bank of Canada maintained its target for the overnight rate at 1.75%, the second straight hold and in line with the consensus on Econoday. The rate was last increased by 25 basis points in October.

“The drop in global oil prices has a material impact on the Canadian outlook, resulting in lower terms of trade and national income,” the Stephen Poloz-led bank said in a statement. “While price differentials have narrowed in recent weeks following announced mandatory production cuts in Alberta, investment in Canada’s oil sector is projected to weaken further.”

Global oil prices have plunged amid rising output of the commodity and downbeat projections for economic growth, which can curb demand for crude. Last month, top producing province Alberta said output would be cut to clear up excess supplies that widened the gap between US benchmark West Texas Intermediate and Western Canadian Select crude.

The bank is projecting 2019 gross domestic product growth of 1.7%, down 0.4 percentage points from the outlook made in October. “Indicators of demand should start to show renewed momentum in early 2019, leading to above-potential growth of 2.1% in 2020.”

The bank’s governing council said it “continues to judge that the policy interest rate will need to rise over time into a neutral range to achieve the inflation target” of 2%.

“The appropriate pace of rate increases will depend on how the outlook evolves, with a particular focus on developments in oil markets, the Canadian housing market, and global trade policy,” the Bank of Canada said.

While the bank said the Canadian economy “has been performing well overall” with growth running close to potential and the labor market has been strong, but consumption spending and housing investment “have been weaker than expected” amid adjustments in housing markets.

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