Economy
Wall Street Opens Mixed on Looming Fed Meeting
By Investors Hub
The major U.S. index futures are pointing to a mixed opening on Monday, with stocks likely to show a lack of direction following the strong upward move seen last week.
Traders may be reluctant to make significant moves ahead of the Federal Reserve?s monetary policy announcement later this week.
The Fed is widely expected to leave interest rates unchanged, although traders are likely to keep a close eye on the accompanying statement for clues about the outlook for rates.
The central bank?s economic projections and Fed Chairman Jerome Powell?s subsequent press conference are also likely to be in focus.
Nonetheless, a notable drop by Boeing (BA) is likely to weigh on the Dow, with the aerospace giant sliding by 2.4 percent in pre-market trading.
The slump by Boeing comes after a Wall Street Journal report said federal prosecutors and Transportation Department officials are scrutinizing the development of the company?s 737 MAX jetliners.
Stocks fluctuated early in the session but moved mostly higher over the course of the trading day on Friday. With the upward move on the day, the Nasdaq and the S&P 500 reached their best closing levels in five months.
The major averages ended the day well off their highs of the session but still firmly in positive territory. The Dow climbed 138.93 points or 0.5 percent to 25,848.87, the Nasdaq advanced 57.62 points or 0.8 percent to 7,688.53 and the S&P 500 rose 14.00 points or 0.5 percent to 2,822.48.
With the gains on the day, the major averages moved notably higher for the week. The Dow jumped by 1.6 percent, while the S&P 500 surged up by 2.9 percent and the tech-heavy Nasdaq soared by 3.8 percent.
The strength on Wall Street came amid optimism about U.S.-China trade talks as well as indications of more Chinese economic stimulus.
Chinese Premier Li Keqiang pledged support for the slowing economy during his annual news conference at the end of the National People’s Congress.
Li said the country could use reserve requirements and interest rates to prevent a sharper deceleration in the world’s second-largest economy.
Traders largely shrugged off the release of some disappointing U.S. economic data, including a Federal Reserve report showing industrial production rose by much less than expected in the month of February.
The Fed said industrial production inched up by 0.1 percent in February after falling by a revised 0.4 percent in January.
Economists had expected production to climb by 0.4 percent compared to the 0.6 percent drop originally reported for the previous month.
The uptick in production came as a spike in utilities output and an increase in mining output was largely offset by a continued drop in manufacturing output.
“The further decline in manufacturing output in February confirms that the global industrial slowdown is now weighing more heavily on U.S. producers,” said Andrew Hunter, Senior U.S. Economist at Capital Economics.
He added, “With tighter fiscal and monetary policy constraining domestic demand, the weaker external environment is another reason to expect a sustained slowdown in economic growth this year.”
A separate report from the New York Fed showed an unexpected slowdown in regional manufacturing growth in the month of March.
The New York Fed said its headline general business conditions index fell to 3.7 in March after climbing to 8.8 in February.
While a positive reading still indicates growth in regional manufacturing activity, economists had expected the index to rise to 10.0.
The index remained below 10 for the third straight month, which the New York Fed said suggests growth has remained quite a bit slower so far this year than it was for most of 2018.
Meanwhile, preliminary data released by the University of Michigan on Friday showed a significant improvement in U.S. consumer sentiment in the month of March.
The report said the consumer sentiment index jumped to 97.8 in March from the final February reading of 93.8. Economists had expected the index to rise to 95.3.
The bigger than expected increase by the index came as more positive assessments from lower income households more than offset a drop in sentiment among households with incomes in the top third.
“Since households with incomes in the top third account for more than half of all consumer expenditures, cautious observers will conclude that the latest data are another indication that the end of the expansion is on the distant horizon,” said Surveys of Consumers chief economist Richard Curtin.
He added, “While that may well be true, the current level of consumer sentiment at 97.8 hardly indicates an emerging downturn.”
Semiconductor stocks showed a substantial move to the upside on the day, driving the Philadelphia Semiconductor Index up by 2.9 percent to a six-month closing high.
Broadcom (AVGO) led the sector higher after the chipmaker reported fiscal first quarter earnings that exceeded analyst estimates.
Considerable strength also emerged among computer hardware stocks, as reflected by the 1.4 percent gain posted by the NYSE Arca Computer Hardware Index.
Biotechnology and tobacco stocks also saw significant strength on the day, while natural gas and oil service stocks showed notable moves to the downside.
By Dipo Olowookere
ASO Savings and Loans Plc has been delisted from the daily official list of the Nigerian Exchange (NGX) Limited.
This action followed the revocation of the operating licence of the company by the Central Bank of Nigeria (CBN) in December 2025.
In a circular on behalf of the NGX Regulation (NGX RegCo) by Ugochi Eke, it was disclosed that the effective date of the delisting is today, Friday, January 16, 2026.
Already, the company has been notified of this development, according to the notice obtained by Business Post.
Before ASO Savings lost its operating licence, it had failed to meet some post-listing requirements, a part of the disclosure from the NGX RegCo stated.
“The board of NGX Regulation Limited via its decision dated January 1, 2026, approved that the step below should be taken pursuant to the process for regulatory delisting of issuers.
“The board has approved the delisting of ASO Savings and Loans Plc from the Nigerian Exchange Limited’s daily official list effective January 16, 2026.
“ASO Savings is hereby notified of this enforcement action and is advised to direct any communication in respect of the foregoing to [email protected].
“NGX RegCo was engaging the listed entity, concerning its outstanding post-listing obligations. However, due to the revocation of the operating license of ASO Savings by its primary regulator, the Central Bank of Nigeria (CBN) effective December 16, 2025; NGX RegCo will delist the entity from the daily official list effective January 16, 2026.
“In view of the foregoing, NGX RegCo has proceeded with publishing the name of the Company in the national dailies.
“The company has been duly notified of this enforcement action, and this publication serves as notification to the investing public, particularly shareholders of the company and investors in the Nigerian capital market,” the statement read.
By Adedapo Adesanya
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has issued a stern warning to oil and gas investors that petroleum licences in Nigeria are strictly for active development, not asset hoarding or speculative holding, declaring that operators must drill or risk losing their rights.
He made this admonition while delivering his message at the 2025 Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Licensing Bid Round Conference in Lagos, where he outlined the government’s hardline stance on asset utilisation and investor accountability.
“The oil assets in portfolio are not mere symbols or souvenirs,” Mr Lokpobiri said, adding that, “Holders of licences are obligated to drill, drill and drill for a shared benefit for the Government, Nigerians and the operators.”
He stressed that the administration is determined to ensure petroleum assets are translated into tangible economic value, noting that licences are time-bound rights granted solely for productive use.
“These assets belong to the Federal Government, and licences are granted strictly for a defined period for productive use, not passive ownership,” the minister said. “Our licensing framework is designed to eliminate speculation and ensure that only serious, capable investors participate.”
Mr Lokpobiri also issued a strong caution to bidders seeking to participate in the 2025 licensing round, urging them to fully understand the process and obligations before submitting bids.
“As prospects take part in this bid round, a clear understanding of the modus operandi guiding the process is essential,” he said, recalling previous bid rounds where some winners attempted to reverse their commitments.
“Past experiences have shown instances where some winning bidders sought refunds based on unmet expectations or perceived asset limitations,” Lokpobiri stated. “Such actions are untenable, as there is no provision in law for the refund of a bid already won.”
According to him, the conference was convened to remove ambiguity and protect the integrity of the licensing system, stressing that the government would strictly enforce all contractual obligations arising from the process.
“This conference serves to provide clarity upfront,” he said. “Participants must be fully informed, deliberate and committed, as the Government will uphold the sanctity of the process and enforce all obligations.”
The minister’s remarks reinforce the Federal Government’s broader push to accelerate upstream development, boost production and attract only technically and financially capable investors into Nigeria’s oil and gas sector, amid renewed licensing activity under the Petroleum Industry Act (PIA).
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.
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