The shares fell to six-year lows after a handful of price-target cutsSubscribers to Schaeffer's Weekend Trader Series service just scored a 100% profit in five weeks with the Invesco Ltd. (NYSE:IVZ) January 2019 26-strike put . Below, we're going to take a look back at why we were bearish on the investment management concern, and how IVZ performed after we suggested the put option. When we ente...Read More
After several months during which gold moved almost entirely in reverse fashion to the dollar, ignoring other developments and barely acting as the haven asset it’s considered to be, this dynamic may be changing. Demand for the yellow metal seems to be picking up amid broader uncertainty in markets, evident by bullion prices remaining resilient lately even in the face of a soaring dollar. Wh...Read More
Steve Holland, Bulent UstaWASHINGTON/ISTANBUL (Reuters) - The top U.S. diplomat advised President Donald Trump on Thursday to give Saudi Arabia more time to investigate journalist Jamal Khashoggi’s disappearance even as Treasury Secretary Steven Mnuchin abandoned plans to attend an investor conference in Riyadh, putting the high-profile event in question.In Istanbul, Turkish investigators fo...Read More
Sector peer Proteostasis Therapeutics, on the other hand, is up over 300% todayProteostasis Therapeutics (PTI) scored a big win after reporting positive data for its cystic fibrosis drug in an early stage study. In response, sector peer Vertex Pharmaceuticals, Inc. (NASDAQ:VRTX) is lower today, down 3.5% to trade at $179.02, at last check. Options traders are hitting overdrive on Vertex today, w...Read More
The brokerage firm expressed concern over margins and same-store salesGap Inc (NYSE:GPS) is trading near the bottom of the S&P 500 Index (SPX) today, down 6.1% at $25.46, and fresh off a 13-month low of $25.34. The sell-off was sparked by a bear note at J.P. Morgan Securities, which downgraded GPS stock to "underweight" from "neutral," and slashed its price target by $6 to $24 -- the lowest on Wal...Read More
NEW YORK (Reuters) - The U.S. dollar rose to one-week highs against the euro on Thursday after the European Commission said Italy’s 2019 budget draft is in serious breach of EU budget rules.The step prepares the ground for what would be an unprecedented rejection of a member state’s fiscal plan.The euro EUR= tumbled to $1.455, its lowest against the greenback since Oct. 9, on the new...Read More
FIGLINE VALDARNO, Italy (Reuters) - The head of Italy’s anti-establishment 5-Star Movement Luigi Di Maio said on Thursday that a dispute with the League over a tax amnesty needed to be sorted out because it was upsetting financial markets.“We need a political clarification,” Di Maio told reporters in Tuscany after the two ruling parties had their first major clash over the amnest...Read More
AAPL shares are down with the broader marketStocks are selling off today on fears of rising interest rates and Chinese markets. Three names in particular worth monitoring are iPhone creator Apple Inc. (NASDAQ:AAPL), freight concern Canadian National Railway (NYSE:CNI), and drugmaker Apellis Pharmaceuticals Inc (NASDAQ:APLS). Keep reading to see what's moving shares of AAPL, CNI, and APLS. AAPL Low...Read More
Gold futures ended higher Thursday with a decline in the U.S. stock market boosting investment interest despite strength in the dollar, which tends to put some pressure on dollar-denominated prices for the metal. On Wednesday, gold had settled lower and extended its decline in after-hours electronic trading as a benchmark U.S. dollar index climbed to fresh session highs shortly after the release o...Read More
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.Every American needs to learn how to protect and secure their retirement against the worst stock market crash in history, and this IRA/401KInvestment Guide 2018 is one way the average American can help protect their investments in the event of a crisis.Jim Rickards is the nation's most vocal and intelligen...Read More
The notorious short seller says the FDA has proven a 'stock scheme'The shares of PolarityTE Inc (NASDAQ:PTE) are getting slaughtered today, after Citron Research issued its "most damaging report to date." Specifically, the notorious short seller said the Food and Drug Administration (FDA) has proven a "stock scheme," and claims the company's "groundbreaking technology" is "controlled [by] a nefari...Read More
NEW YORK (Reuters) - With mortgage applications falling to their lowest since late-2014, the U.S. home lending industry is facing a major overhaul in how it works and manages staffing levels.Call-center employees who handle customer refinance requests are the most vulnerable as rates have started to climb, analysts said.Those applications have fallen to their lowest level since late 2000, accordin...Read More
LONDON (Reuters) - Britain’s Cabinet Office Minister David Lidington said it was too early to estimate the cost of extending a Brexit transition period after the government indicated it would consider asking for one to break a deadlock in talks with the EU.Lidington rejected claims that an extension would cost Britain more than 10 billion pounds ($13.10 billion) in payments to the European U...Read More
WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren said on Thursday the Federal Reserve should not allow Wells Fargo & Co (WFC.N) to grow in size until the bank replaces Chief Executive Officer Tim Sloan.In a letter to Fed Chairman Jerome Powell, Warren said Sloan, a 30-year veteran of Wells, is “deeply implicated” in prior bank misconduct, and it is untenable for him to remain a...Read More
MEMPHIS, Tenn. (Reuters) - The Federal Reserve’s current monetary policy path would raise the risks of recession in an economy where recent, unexpectedly strong growth may start to taper anyway, St. Louis Fed President James Bullard said on Thursday.In remarks to the Economic Club of Memphis, Bullard pointed to a possible next chapter in the central bank’s discussion: What to do if, as...Read More
(Reuters) - U.S. stocks sank more than 1 percent on Thursday as weak industrial earnings raised worries about rising expenses and the impact of tariffs, adding to concerns over higher borrowing costs after hawkish commentary in the Federal Reserve’s minutes.The markets hit session lows after U.S. Treasury Secretary Steven Mnuchin pulled out of a conference in Saudi Arabia, as the Trump admin...Read More
• The commodity has been correcting from 2-1/2 month tops alongside a short-term descending trend-channel formation on the 1-hourly chart. • Against the backdrop of the recent upsurge from $1183 area, the channel now seems to constitute towards the formation of a bullish flag chart pattern. • Moreover, positive technical...Read More
NEW YORK (Reuters) - Because it is unclear how long the U.S. economy can sustain its current strength, the Federal Reserve should continue with its gradual interest rate hikes until it becomes undeniable that a change of course is necessary, an influential Fed governor said on Thursday.Randal Quarles, the U.S. central bank’s vice chair of supervision, who rarely discusses monetary policy, sa...Read More
WASHINGTON (Reuters) - The U.S. Federal Aviation Administration said Thursday it would allow U.S. airlines and codeshare partners to resume flights at three Ukrainian airports and over parts of the Black Sea, citing improved safety and security in parts of Ukraine.The FAA had barred flights over the war zones of Crimea and the Ukraine in April 2014, and expanded prohibitions after Malaysia Airline...Read More
(Kitco News) - Gold prices aretrading modestly higher in early-afternoon U.S. trading Thursday. Today, a hostof worries on the geopolitical front rose to the surface to put strong pressureon the U.S. stock market and produce some safe-haven demand for gold, whichbegan to surface in late-morning action. December gold futures were last up $3.00an ounce at $1,230.50. December Comex silver was last do...Read More