Fed's Clarida does not comment on economy, monetary policy in remarks in Switzerland

WASHINGTON, Nov 12 (Reuters) – U.S. Federal Reserve Vice Chairman Richard Clarida did not comment on his current views about the economy or Fed interest rate policy in prepared remarks for a conference in Switzerland on Tuesday on global risk and volatility.

His paper reviewed some possible reasons, including the success of global central banks in battling inflation, for why interest rates on sovereign bonds have trended lower over the past 30 years. (Reporting by Howard Schneider; Editing by Sandra Maler)

Germany detains three Islamic State suspects over attack plan

BERLIN (REUTERS) – German police have detained three people in the western city of Offenbach on suspicion of planning an attack using explosives on behalf of the Islamic State militant group, prosecutors said on Tuesday (Nov 12).

Prosecutors said the main suspect is a 24-year-old German of Macedonian origin who had wanted to manufacture explosives and had tried to buy a weapon online. His two accomplices are Turkish nationals aged 22 and 21.

The three suspects wanted to kill as many “infidels” as possible in the attack, Frankfurt prosecutor Nadja Niesen said in a statement.

Oil Holds Steady As Investors Await Clarity On Trade Talks

Oil prices held steady in cautious trade on Tuesday as investors awaited a speech by U.S. President Donald Trump at the Economic Club of New York later in the day for clues on the status of the Sino-U.S. trade talks.

Benchmark Brent crude edged up 0.1 percent to $62.22 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down marginally at $57.84 a barrel.

Trump said on Saturday that talks with China were moving along “very nicely” but the United States would only make a deal if it was the right one for Washington.

He also described as “incorrect” reports about how much the U.S. was ready to roll back tariffs on China.

Meanwhile, higher Saudi Arabian crude output reinforced concerns about oversupply.

Saudi Arabia raised its oil output in October to 10.3 million barrels per day but kept its supply to the oil markets below its OPEC output target, Reuters quoted a Saudi industry source as saying.

Dutch state to challenge order to take back Islamic State children

AMSTERDAM (Reuters) – The Dutch state said on Tuesday it will appeal against a court ruling ordering it to take back dozens of young children of mothers who joined Islamic State in Syria.

A court in The Hague said on Monday the government must actively help repatriate 56 children living in poor conditions in camps in Syria.

The Dutch foreign and justice ministers both issued statements saying they would seek to overturn the court’s decision, which they said did not take diplomatic considerations into account.

Gold Marginally Lower In Cautious Trade

Gold prices were moving lower on Tuesday as investors awaited a speech by U.S. President Donald Trump at the Economic Club of New York later in the day for clues on the status of the Sino-U.S. trade talks.

Spot gold slid 0.1 percent to $1,454.70 per ounce, while U.S. gold futures were down 0.15 percent at $1,455.25 per ounce.

Investors await Trump’s speech for signs of progress on the months-long trade dispute with China.

Trump said on Saturday that talks with China were moving along “very nicely” but the United States would only make a deal if it was the right one for Washington.

He also described as “incorrect” reports about how much the U.S. was ready to roll back tariffs on China.

Fresh pro-democracy protests in Hong Kong provided some support to the safe-haven metal.

Hong Kong police fired tear gas in the heart of the Central financial district and at two university campuses to break up pro-democracy protests as transport was disrupted by protesters for the second day running.

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Daqo New Energy Corp. Q3 adjusted earnings Beat Estimates

Below are the earnings highlights for Daqo New Energy Corp. (DQ):

-Earnings: $4.98 million in Q3 vs. -$18.30 million in the same period last year.
-EPS: $0.35 in Q3 vs. -$1.36 in the same period last year.
-Excluding items, Daqo New Energy Corp. reported adjusted earnings of $9.46 million or $0.67 per share for the period.
-Analysts projected $0.43 per share
-Revenue: $83.91 million in Q3 vs. $67.39 million in the same period last year.

Advanced Energy Industries Guides Q4 Adj. EPS In Line – Quick Facts

While reporting financial results for the third quarter on Tuesday, Advanced Energy Industries, Inc. (AEIS) provided earnings and revenue guidance for the fourth quarter.

For the fourth quarter, the company expects projects earnings in a range of $0.19 to $0.43 per share and adjusted earnings in a range of $0.56 to $0.80 per share on revenues between $295 million and $325 million.

On average, analysts polled by Thomson Reuters expect the company to earn $0.58 per share on revenues of $286 million for the quarter. Analysts’ estimates typically exclude special items.

Tyson Foods Q4 Results Miss View, But Sees Earnings Growth In 2020; Stock Down

Tyson Foods Inc. (TSN) reported that its fourth-quarter net Income attributable to the company declined to $369 million from $537 million last year. Earning per share for the fourth-quarter were $1.01, down 31% from prior year.

“We’re very optimistic about fiscal 2020, and we currently expect to meet or exceed our long-term earnings algorithm of high single-digit adjusted earnings per share growth as we’re well positioned to take advantage of opportunities in the global marketplace,” the company said.

Adjusted earnings per share the fourth-quarter were $1.21, down 23% from prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.29 per share. Analysts’ estimates typically exclude special items.

Sales for the quarter grew to $10.88 billion from $9.999 billion last year. Analysts expected revenue of $11.00 billion for the quarter.

In Tuesday pre-Market trade, TSN is trading at $79.01, down $3.75 or 4.53 percent.