Oil fell on Monday as weaker-than-predictable Chinese economic data weighed on markets, adding to concerns that declining global demand would exacerbate a surplus of crude, according to Reuters.
Markets are also waiting to see if the U.S. central bank raises interest rates for the first time in nearly a decade later this week. Should rates rise, analysts expect oil to fall, as a stronger dollar would undermine demand from importing countries.
Oil prices have fallen almost 60 percent since June 2014 on the largest global surplus in modern times and concerns about a slowing Chinese economy. Reuters Reports
Among oil related stocks, Shares of SeaDrill Limited (NYSE:SDRL), lost -5.72% to $6.43, in its last trading session.
The company shares have dropped 78.65% in the past 52 Weeks. On September 16, 2014 The shares registered one year high of $31.03 and one year low was seen on August 24, 2015 at $6.15. The 50-day moving average is $7.79 and the 200 day moving average is recorded at $10.34. S&P 500 has rallied 1.23% during the last 52-weeks.
Seadrill Limited, an offshore drilling contractor, provides offshore drilling services to the oil and gas industry worldwide. The company operates through Floaters and Jack-up Rigs segments.
Shares of Itaú Unibanco Holding S.A. (NYSE:ITUB), declined -1.17% to $6.76, during its last trading session, as the S&Ps downgrade of Brazils credit rating continues to weigh on some U.S. traded Brazil-based stocks.
On Wednesday, the S&P downgraded Brazils sovereign rating to BB-plus, the highest junk rating, from BBB-minus. Brazils economy faces its longest recession since the 1930s, so the downgrade wasnt a surprise but came sooner than predictable, according to Reuters.
Investors outlook for the country has since worsened, as many worry about forced selling and subsequent rating downgrades by agencies such as Moodys and Fitch, Reuters reports.
Itaú Unibanco Holding S.A. provides various financial products and services to individuals and corporate clients in Brazil and internationally. The company operates through Commercial Bank Retail, Consumer Credit Retail, and Wholesale Bank segments.
Finally, Shares of Visa Inc. (NYSE:V), ended its last trade with 0.75% gain, and closed at $70.76.
In its 19th year of sponsorship of the Toronto International Film Festival®, Visa will showcase innovation and activation worthy of the red carpet. Running from September 10 to 20, 2015, festival-goers will get a taste of the future of retail through immersive experiences, counting demonstrations of Visas proof of concept Connected Car and a virtual reality retail experience.
The excitement, imagination and momentum that flourish at the Toronto International Film Festival create the perfect setting to tell the story of how Visa is changing the way we pay, said Brenda Woods, Head of Marketing, Visa Canada. Similar to stepping into a theatre, our onsite demos at the heart of the Festival, at Roy Thomson Hall, offer guests the ability to be transported in a fun way to experience the future of shopping.
Connected Car Commerce
By 2020 it is estimated that more than 250 million vehicles worldwide will comprise some form of embedded connectivity. Visas Connected Car will showcase Visas leading edge payment technologies while keeping busy on-the-go consumers in mind. The Visa Connected Car demonstration will take festival-goers on a 360 degree journey that starts with ordering a meal on the way home. The immersive experience demonstrates Visas vision of the future where consumers can seamlessly make many of their purchases without leaving the car.
Were excited to debut Visas Connected Car for the first time Canada, said Derek Colfer, Head of Technology & Digital Innovation, Visa Canada. As the number of internet-enabled cars on the road improvements and internet-connected things proliferate, we will continue to provide Canadians with innovative ways to pay for everyday purchases from the car such as gasoline and drive-through purchases while driving interoperability and maintaining payment security that consumers expect from Visa.
Visa Inc., a payments technology company, operates as a retail electronic payments network worldwide. The company facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities.
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