Economy
Disappointing Jobs Data May Weigh on US Stocks
By Investors Hub
major U.S. index futures are pointing to a lower opening on Thursday on the heels of the release of a report from payroll processor ADP showing weaker than expected private sector job growth in the month of June.
Geopolitical concerns may also weigh on the markets, although traders may be somewhat reluctant to make any significant moves ahead of the release of the Labor Department’s closely watched monthly jobs report on Friday.
Following the fourth of July holiday on Tuesday, stocks turned in a lackluster performance during trading on Wednesday.
While the Dow edged down 1.10 points or less than a tenth of a percent to 21,478.17, the Nasdaq climbed 40.80 points or 0.7 percent to 6,150.86 and the S&P 500 rose 3.53 points or 0.2 percent to 2,432.54.
The choppiness on Wall Street came as many traders remained away from their desks after the markets were closed yesterday.
The Federal Reserve plans to reduce their bloated balance sheet but failed to provide a specific timeline to begin the process, the minutes of the June Federal Open Market Committee meeting showed.
“Several” policy makers were in favor of starting the reduction of its $4.5 trillion balance sheet within a “couple of months.”
The market consensus is toward a start in September, which would likely push another interest rate hike to the end of the year despite the Fed’s optimism that stubbornly weak inflation will pick up.
“The information reviewed for the June 13-14 meeting showed that labor market conditions continued to strengthen in recent months and suggested that real gross domestic product (GDP) was expanding at a faster pace in the second quarter than in the first quarter,” the minutes read.
Since that meeting, final GDP figures for the first quarter showed economic growth was better than expected.
The Fed’s forecast for consumer price inflation was revised down slightly for 2017 but the projection was little changed thereafter, as the recent weakness in inflation was viewed as transitory.
Inflation on a 12-month basis was expected to remain somewhat below 2 percent in the near term, but almost all members expected it to stabilize around 2 percent over the medium term.
Regarding interest rates, the Fed said, “Economic conditions would evolve in a manner that would warrant gradual increases in the federal funds rate.”
A report from the Commerce Department showed new orders for U.S. manufactured goods fell by more than expected in the month of May.
The Commerce Department said factory orders slumped by 0.8 percent to $464.9 billion in May after falling by a revised 0.3 percent in April.
Economists had expected factory orders to drop by 0.5 percent compared to the 0.2 percent decrease originally reported for the previous month.
Energy stocks saw substantial weakness amid a steep drop by the price of crude oil, while significant strength was visible among biotechnology, semiconductor, and gold stocks.
By Dipo Olowookere
The suspension earlier placed on Premier Paints Plc, preventing investors from buying and selling its stocks on the Nigerian Exchange (NGX) Limited, has now been lifted.
The embargo was removed on Wednesday, a notice from the stock exchange, seen by Business Post, disclosed.
Almost four years ago, Premier Paints was suspended from the bourse due to the inability of its board to file the company’s financial results.
The NGX had on July 1, 2022, informed the investing community it had prohibited the trading of the organisation’s securities “in line with the provisions of Rule 3.1: Rules for Filing of Accounts and Treatment of Default Filing (Default Filing Rules).
The part of the rules provides that: “If an Issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will; a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period, b) suspend trading in the issuer’s securities, and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.”
In the latest disclosure dated Wednesday, January 14, 2026, and signed by the Head of Issuer Regulation Department of the NGX, Mr Godstime Iwenekhai, it was revealed that Premier Paints has now done the needful.
“The company has now filed all outstanding financial statements to Nigerian Exchange Limited.
“In view of the company’s submission of its outstanding financial statements, and pursuant to Rule 3.3 of the Default Filing Rules, which states that; The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The exchange is satisfied that the accounts comply with all applicable rules of the exchange. The exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted, trading license holders and the investing public are hereby notified that the suspension placed on trading on the shares of Premier Paints Plc was lifted (on) Wednesday, January 14, 2026,” the circular stated.
By Adedapo Adesanya
The federal government expects the Nigerian economy to grow by 4.68 per cent in 2026, supported by easing inflation, improved foreign exchange stability and continued fiscal reforms, the federal government said on Thursday.
The projection was outlined by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, during the launch of the Nigerian Economic Summit Group (NESG) 2026 Macroeconomic Outlook Report in Lagos.
Mr Edun said Nigeria had moved beyond the crisis-management phase of recent years and was now entering a period of economic consolidation, where stability must translate into growth, jobs and improved living standards.
According to the minister, two years of difficult reforms have helped stabilise key macroeconomic indicators, creating a platform for sustained expansion.
Inflation, which peaked above 33 per cent in 2024, declined to 15.15 per cent by December 2025. Foreign exchange volatility has eased, with the Naira trading below N1,500 to the Dollar, while external reserves rose to $45.5 billion.
GDP growth averaged 3.78 per cent by the third quarter of 2025, with 27 sectors recording expansion, Mr Edun said.
He warned, however, that Nigeria could not afford to reverse course.
Mr Edun said Nigeria cannot afford to pause or retreat from its reform agenda adding that the success of the consolidation phase would determine whether recent gains deliver productive jobs and shared prosperity.
The finance minister also addressed public concerns about Nigeria’s rising debt stock, which stood at about N152 trillion, insisting that the increase was largely the result of transparency and exchange rate adjustments rather than fresh borrowing.
He explained that about N30 trillion of the figure reflected previously unrecognised Ways and Means advances, now formally recorded, while nearly N49 trillion resulted from the revaluation of foreign debt following exchange rate reforms.
Despite the higher nominal figure, Nigeria’s debt-to-GDP ratio declined to 36.1 per cent, which the minister said remained among the lowest in Africa and well below the global average.
Reviewing fiscal outcomes in 2025, Mr Edun said the government maintained discipline despite revenue pressures, particularly from the oil and gas sector.
The fiscal deficit was kept at about 3.4 per cent of GDP, while non-oil revenue performance improved and allocations to states increased, strengthening fiscal federalism.
He also said the government achieved 84 per cent capital budget execution for 2024 projects during the transition period.
The minister noted that the 2026 Budget of Consolidation, Renewed Resilience and Shared Prosperity, currently under deliberation by the National Assembly, would prioritise growth-enhancing investments.
The budget proposes N58.18 trillion in total spending, including N26 trillion for capital expenditure, representing about 44 per cent of the total budget, one of the largest capital spending plans in Nigeria’s history.
Inflation is projected to average 16.5 per cent in 2026, while the exchange rate is expected to stabilise around N1,400/$1.
By Adedapo Adesanya
Four price decliners weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.22 per cent on Thursday, January 15, with MRS Oil the gang leader after it lost N5.00 to close at N195.00 per share compared with the previous day’s N200.00 per share.
Central Securities Clearing System (CSCS) Plc declined during the session by 47 Kobo to settle at N40.50 per unit versus Wednesday’s closing price of N40.97 per unit, Geo-Fluids Plc depreciated by 21 Kobo to end at N6.59 per share versus N6.80 per share, and Lagos Building Investment Company (LBIC) Plc dipped by 2 Kobo to sell at N3.10 per unit, in contrast to the N3.12 it was traded at midweek.
The losses printed by the above quartet reduced the market capitalisation of the trading platform by N4.88 billion to N2.195 trillion from N2.2 trillion, while the NASD Unlisted Security Index (NSI) sank by 8.03 points to 3,670.10 points from 3,678.13 points.
During the trading day, the volume of transactions was up by 7.1 per cent to 690,886 units from 645,002 units, but the value of trades went down by 29.2 per cent to N17.3 million from the N24.4 million recorded in the previous trading session, and the number of deals executed at the session dipped by 10.5 per cent to 17 deals from 19 deals.
At the close of trades, CSCS Plc remained the busiest stock by value on a year-to-date basis with a turnover of 2.9 million units worth N117.9 million, trailed by MRS Oil Plc with 270,773 units valued at N54.1 million, and Geo-Fluids Plc with 6.5 million units traded for N43.9 million.
But the most active stock by volume on a year-to-date basis was Geo-Fluids Plc with 6.5 million units sold for N43.9 million, followed by Industrial and General Insurance (IGI) Plc with 3.1 million units traded for N1.9 million, and CSCS Plc with the same of 2.9 million units valued at N117.9 million.
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