HAL has been struggling since its mid-May highsOil name Halliburton Company (NYSE:HAL) is trading up 1.9% at $38.73 today, but the shares have been declining since their mid-May highs. Most recently, HAL touched a two-year low of $35.75 on Sept. 2. More broadly, oil stocks are taking a hit this week on oversupply concerns and a sector-wide bear note out of J.P. Morgan Securities yesterday. Meanwh...Read More
NEW YORK (Reuters) - Stocks rose across the world on Friday with a global index aiming to avoid a fourth consecutive weekly loss, but concerns over Italy’s budget weighed on its stocks and bonds.The benchmark Italian bond yield rose to 4-1/2 year highs and the euro touched a 10-day low before rebounding as the European Union called Rome’s draft budget an “unprecedented” bre...Read More
SINGAPORE/WASHINGTON (Reuters) - The United States and South Korea have suspended upcoming joint air defense exercises to give diplomatic efforts with North Korea “every opportunity to continue,” the U.S. military said on Friday.The Pentagon said the decision to suspend Exercise Vigilant Ace, which had been scheduled for December, was taken by U.S. Defense Secretary Jim Mattis and Sout...Read More
Chinese markets rallied after yesterday's steep dropThe Dow Jones Industrial Average (DJI) is moving higher into the weekend, boosted by well-received earnings reports from the likes of American Express (AXP) and Procter& Gamble (PG), with PG up 6.8% to lead the blue-chip index at midday. Investors are also breathing a sigh of relief over China, after the country's securities regulator announced n...Read More
Mr. Akiko Levinson reports IRVING RESOURCES SAMPLES HIGH-GRADE FLOAT AT ITS OMU GOLD-SILVER PROJECT, HOKKAIDO, JAPANIrving Resources Inc. has sampled high-grade quartz vein float at its 100-per-cent-controlled Omu gold-silver project in Hokkaido, Japan. While following up stream sediment anomalies (please refer to Irving Resources' news release dated Jan. 3, 2018, for further details), Irving Reso...Read More
(Kitco News)- Lottery fever has once againgripped the U.S. as Friday's Mega Millions lottery pushes close to theone-billion dollar mark.As of Friday morning, the jackpothad an estimated value of $970 million with a cash option worth $548 million.The Mega Million's lottery win could buy about 788,617 ounces of gold withprices currently trading around $1,230 an ounce. To put that into perspective,th...Read More
MUMBAI, Oct 19 (Reuters) - India’s interest rate setting committee sees a risk of rising headline inflation from high crude oil prices and a weak rupee, indicating potential rate hikes ahead even as it held rates unchanged at its last meeting.Minutes of the Reserve Bank of India’s monetary policy committee’s (MPC) October meeting, released on Friday, showed most committee members...Read More
SAN FRANCISCO (Reuters) - The pressure is on for Amazon, Alphabet and Microsoft as they prepare to report quarterly results at a time when confidence in those market leaders looks increasingly fragile and in danger of derailing Wall Street’s rally.After worries about higher interest rates sparked a steep sell-off in early October and again on Thursday, the S&P 500 remains down 5 percent...Read More
(Kitco News)- Gold futures are heading for their third weekly rise in a row, and Wall Street and Main Street look for the metal tomake it four straight next week, based on the Kitco News gold survey.A number of factors underpinned gold this week,including geopolitical tensions between the U.S. and Saudi Arabia afternews reports that journalist Jamal Khashoggi disappeared aftergoing into the Saudi...Read More
(Reuters) - U.S. stocks rose broadly on Friday, as a raft of strong corporate earnings helped allay concerns over growth risks in Europe and political tensions in Saudi Arabia that drove a 1 percent drop a day earlier.Consumer goods bellwether Procter & Gamble (PG.N) reported a surprise rise in first-quarter sales, sending its shares up 7.2 percent and boosting the consumer staples .SPLRCS ind...Read More
* Gold has risen by 0.7 pct so far this week* SPDR Gold holdings up 2.5 pct in past two weeks (New throughout, updates prices, market activity and comments)By Sethuraman N RBENGALURU, Oct 19 (Reuters) - Gold prices edged up onFriday, on course for a third week of gains as weaker stockmarkets spurred investors to seek refuge in bullion, which alsogained technical momentum after scaling major milest...Read More
ZURICH (Reuters) - ABB Chief Executive Ulrich Spiesshofer will not attend an investment conference in Saudi Arabia next week, the Swiss engineering group said on Friday.Spiesshofer joins other world business and political leaders who have withdrawn amid concern about a journalist's fate. ABB did not give a reason for his decision.The list of senior executives who have canceled attendance at Riyadh...Read More
(Reuters) - Facebook Inc (FB.O) has hired former U.K. Deputy Prime Minister Nick Clegg to lead its global affairs and communications team, as the social network deals with a number of scandals related to privacy, fake news and election meddling.The appointment makes Clegg, former leader of Britain’s Liberal Democrats and deputy to David Cameron between 2010 and 2015, the most senior European...Read More
The stock has pulled back recently with crude oil pricesEnergy stocks have taken a hit this week, as crude oil prices dropped on oversupply concerns. However, it could be time to buy the dip on one oil stock: Marathon Oil Corporation (NYSE:MRO). The shares have pulled back to a key trendline, which has had very bullish implications for MRO in the past.Marathon Oil stock has been in a channel of hi...Read More
NEW YORK (Reuters) - The euro recovered from one-week lows against the U.S. dollar on Friday as investors took profits on bets against the currency, after it was burdened this week by concerns about Italy’s spending proposals and Britain’s plans to exit the European Union.The single currency had dropped after the European Commission on Thursday sent Rome a letter calling a draft budge...Read More
• A subdued USD price action helps regain positive traction for the second straight session. • A fresh wave of global risk-aversion trade further underpins the safe-haven demand. • Gains remain capped below 2-1/2 month tops amid firming Fed rate hike expectations. Gold quickly reversed an early European session dip to $1223 area...Read More
NAIROBI, Oct 19 (Reuters) - Kenya plans to set up a gold refinery to help small scale miners in the west of the country, the Petroleum and Mining Ministry said on Friday, and the government is seeking consultants to advise on its construction.Kenya has proven deposits of titanium, gold and coal but its mining sector is a relatively small contributor to national output. However, revenues are expect...Read More
F shares just hit another low Ford Motor Company (NYSE:F) is trading down 1.4% at $8.40, earlier hitting a nearly nine-year low of $8.19, after Morgan Stanley downgraded the automaker to "equal weight" from "overweight" and dropped its price target to $10 from $14. The brokerage firm cited uncertainty around the company's restructuring process and suggested the stock's dividend was at risk. This...Read More
LONDON, Oct 19 (Reuters) - The cost of insuring exposure to Italy's banks jumped on Friday, after the country's government bond market sold off sharply as the European Union slammed Rome's draft budget. Five-year credit default swaps in UniCredit rose to 204 basis points, from a closing price of 194 bps on Thursaday and was the highest since Dec 2016. CDS in Intesa Sanpaolo widened eight bps to 21...Read More
WASHINGTON (Reuters) - U.S. home sales fell in September by the most in over two years as the housing market continued to struggle despite strength across the broader economy.The National Association of Realtors said on Friday that existing home sales dropped 3.4 percent to a seasonally adjusted annual rate of 5.15 million units last month.Home sales have now fallen for six straight months. A dear...Read More