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LONDON (Reuters) -Oil prices edged up on Thursday after Saudi Arabia's state oil company raised its March crude prices sharply, but the gains barely dented the previous day's slide in benchmark Brent crude. Brent crude futures rose 44 cents, or 0.6%, to $75.05 a barrel by 1355 GMT. Oil prices had plunged by more than 2% on Wednesday as a large build in U.S. crude and gasoline stockpiles signalled weaker demand while investors also weighed up the implications of a new round of U.S.-China trade tariffs, including duties on energy products.

(Bloomberg) -- Bank of England officials decided to cut interest rates to a 19-month low, with two supporting a bumper 50-basis-point cut, prompting markets to boost bets on further easing.Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Employees RelocateState Farm Seeks Emergency California Rate Hike After FiresTransportation Memos Favor Places With Higher Birth and Marriage RatesNYC Sees Pedestrian Traffic Increase in Congestion-Pricing ZoneSan Francisco Wants Wealthy Donors

Global electronics components and solutions distributor Arrow Electronics (NYSE:ARW) reported Q4 CY2024 results exceeding the market’s revenue expectations, but sales fell by 7.2% year on year to $7.28 billion. On the other hand, next quarter’s revenue guidance of $6.28 billion was less impressive, coming in 3.3% below analysts’ estimates. Its non-GAAP profit of $2.97 per share was 11% above analysts’ consensus estimates.

(Bloomberg) -- Russia’s flagship crude oil has dropped back below a price cap of $60 a barrel for the first time since December, one of several indicators that fresh US sanctions on Moscow may be biting.Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Employees RelocateState Farm Seeks Emergency California Rate Hike After FiresTransportation Memos Favor Places With Higher Birth and Marriage RatesNYC Sees Pedestrian Traffic Increase in Congestion-Pricing ZoneSan Francisco Wants

If the pundits proved right, the US labor market was supposed to have broken down by now.

Fashion brand Ralph Lauren (NYSE:RL) announced better-than-expected revenue in Q4 CY2024, with sales up 10.8% year on year to $2.14 billion. Its non-GAAP profit of $4.82 per share was 6.5% above analysts’ consensus estimates.

(Bloomberg) -- Traders upped bets for further interest-rate cuts from the Bank of England this year after policymakers lowered borrowing costs by a quarter point as expected — with two voting for a bigger reduction.Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Employees RelocateState Farm Seeks Emergency California Rate Hike After FiresTransportation Memos Favor Places With Higher Birth and Marriage RatesSan Francisco Wants Wealthy Donors to Help Fix Fentanyl CrisisNY Transi

Sport boat manufacturer MasterCraft (NASDAQ:MCFT) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, but sales fell by 36.3% year on year to $63.37 million. On the other hand, next quarter’s revenue guidance of $75 million was less impressive, coming in 7.2% below analysts’ estimates. Its non-GAAP profit of $0.10 per share was significantly above analysts’ consensus estimates.

Network chips maker MACOM Technology Solutions (NASDAQ: MTSI) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 38.8% year on year to $218.1 million. Guidance for next quarter’s revenue was optimistic at $230 million at the midpoint, 2.1% above analysts’ estimates. Its non-GAAP profit of $0.79 per share was in line with analysts’ consensus estimates.

Aerospace and defense company Huntington Ingalls (NYSE:HII) missed Wall Street’s revenue expectations in Q4 CY2024, with sales falling 5.4% year on year to $3.00 billion. Its GAAP profit of $3.15 per share was 10.8% below analysts’ consensus estimates.