U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points at 8:30 AM EST. Target gained $12.81 to $163.30 after reporting higher than consensus fourth quarter profits. The company also raised guidance. Apple dropped $3.45 to $171.65 after reporting a 24% decrease in iPhone sales in China during the past six months. Paymentus Holdings gained $3.75 to $20.10 after...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points at 8:30 AM EST.Apple dropped $1.46 to $178.20 after European regulators issued a 1.8 Euro fine related to its Apple Music service. Apple plans to appeal.Decker gained $42.70 to $945.99 on news that the stock will join the S&P 500 Index on March 18thWhirlpool dropped $1.67 to $105.14 on news that the stoc...Read More
(IDEX Online) - Prices fell during February after what now appears to have been a false start to the recovery in December. Losses dominated among almost all sizes of goods, much as they did during January. Demand is slow and markets are quiet after the holiday season, Valentine's Day and the Chinese New Year. Rough supply remains slow (De Beers sold just $370m in January). Miners say there wi...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM ESTWTI Crude oil added $1.33 to a three month high at U.S. 79.58 per barrel.Dell Technologies advanced $12.34 after reporting higher than consensus fourth quarter results. The company also raised its dividend.Autodesk gained $14.83 to $273.00 after reporting higher than consensus fourth quarter results...Read More
(IDEX Online) - Tiffany & Co tops the list of jewlery brands sold on the e-commerce marketplace 1stDibs.Cartier takes second place, followed by Van Cleef and Arpels, Bulgari and David Yurman in the company's first Jewelry Trend Report.The US-based company said Art Deco engagement rings were the most popular (49 per cent of orders) followed by Contemporary, Edwardian, Retro ad Artisan.Roun...Read More
(IDEX Online) - LVMH is the world's most valuable luxury company, based on market capitalization and revenue.That's according to Insider Monkey, the investing website that has just published its top 25, based on a snapshot of their figures from 15 February. The French conglomerate LVMH (Louis Vuitton Moet Hennessy), owns 75 maisons, including eight watch and jewelry brands (am...Read More
(IDEX Online) - Online searches for engagement rings have spiked ahead of Leap Day today - when women traditionally switch roles to pop the question.It's already a busy month for diamond sales because of Valentine's Day, but 29 February increases demand every four years, says eBay UK.The e-commerce giant says there's been a 220 per cent increase in searches for engagement ring...Read More
U.S. equity index futures were higher this morning. S&P 500 futures added 5 points at 8:35 AM EST.U.S. equity index futures recovered 22 points following release of January Core PCE Price Index at 8:30 AM EST. Consensus was an increase of 0.4% versus a gain of 0.2% in December. Actual was an increase of 0.4%. On a year-over-year basis consensus was an increase of 2.8% versus a gain of 2.9% in...Read More
(IDEX Online) - Two people have been arrested after packages of jewelry were allegedly intercepted from delivery companies in Sacramento, California, USA.One of the, named as Lakisha Pettus, is accused of posing as a jewelry company employee to trick deliverers into handing over three packages, valued at $86,000.The other, Kyle Gutierrez, is accused of taking delivery of three packages,...Read More
(IDEX Online) - Lab grown prices have yet to bottom, and could fall by a further 80 per cent, says one industry expert.The gap with natural diamonds has been widening since labs growns first became mainstream in 2018.In some cases like-for-like lab growns are now just 10 per cent the price of a natural.But Cormac Kinney, CEO of the commodities trading firm Diamond Standard, believes there's s...Read More
(IDEX Online) - Diamond Foundry, the Silicon Valley startup, says test production of lab growns at its new factory in Trujillo, Spain, will begin this autumn.It estimates output at more than 2m carats a year with 168 plasma reactors using its own patented CVD (chemical vapor deposition) method.The majority of the diamonds it produces will be for the automotive sector or 5G communication netw...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points at 8:35 AM ESTS&P 500 futures recovered 4 points following release of revised annualized U.S. fourth quarter 2023 GDP at 8:30 AM EST. Consensus was growth at 3.3% annual rate versus a gain of 4.9% in the third quarter. Actual was growth at a 3.2% rate.Agilent added $7.45 to $140.00 after reporting higher...Read More
(IDEX Online) - Swiss Supreme Court Sounds off on Customized Watches in Rolex CaseSwitzerland's highest court has made a landmark ruling on the legality of a third party selling customized Rolex watches.It distinguishes between watch personalization for a client, which is acceptable, and the general marketing of modified Rolex watches, which is not.The Swiss Federal Supreme Court considered t...Read More
(IDEX Online) - Lightbox has been testing out lower prices for its lab grown diamonds.It says its Standard quality stones have been discounted from $800 a carat to $600 and its Finest range of higher quality lab growns have been reduced from $1,500 a carat to $1,000.But the De Beers-owned company says it will retain the linear pricing policy - a fixed cost per carat - which it has promoted since i...Read More
(IDEX Online) - A smart earring developed at University of Washington, USA, monitors earlobe temperature.It senses skin temperature more accurately than a smartphone and could be developed to monitor signs of stress, eating, exercise and ovulation.The thermal earring prototype is about the size and weight of a small paperclip. It incorporates circuitry, a Bluetooth chip, a battery, two temperature...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points at 8:35 AM EST.Index futures were unchanged following release of the U.S. January Durable Goods Orders report at 8:30 AM EST. Consensus was a drop of 5.0% versus a downwardly revised -0.3% in December. Actual was a drop of 6.1%. Excluding transportation orders, consensus was an increase of 0.2% versus a gain o...Read More
(IDEX Online) - Mountain Province Diamonds has increased its production guide for this year, from 4.0m cts - 4.4m cts to 4.2m cts - 4.7m cts.The Toronto-based miner says it now expects an increase in recovered grade at the Gahcho Kue mine it operates as a joint venture with De Beers in Northwest Territories.It also expects improvements in plant throughput and overall process utilization (OPU...Read More
(IDEX Online) - Anglo American has written down the value of De Beers by $1.6bn - or 17 per cent - as reduced demand continues to drive down diamond prices.It now values the miner at $7.6bn. Anglo American took control of De Beers after buying the Oppenheimer family's 40 per cent stake in 2011 for $5.1bn. It holds as 85 per cent stake. The government of Botswana owns the remainder."Our update...Read More
(IDEX Online) - Masked raiders fled a jewelry store in California, USA, after the owner fired shots.One hit the ground and another struck the window at Geneva Jewelry, Riverside, on Saturday (17 February).A female customer who was caught up in the smash and grab managed to run past the raiders to safety at the back of the store.The two suspects entered the store at around 11am and started using ha...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EST.Domino's Pizza added $26.35 to $460.00 after reporting higher than consensus fourth quarter earnings. Berkshire Hathaway gained $10.88 to $428.10 after reporting higher than consensus fourth quarter earnings. Amazon.com added $0.62 to $175.61 when the stock was added to the Dow Jones Industrial Ave...Read More