Gold and silver fell after the Federal Reserve stance on interest rate cut. There can be more fall today and tomorrow as well. Friday's US July nonfarm payrolls needs to come in below 100,000 for gold and silver bulls to revive. For now gold and silver bears have an upper edge. Traders and markets were way ahead on interest rate cut stance. The Federal Reserve chairman muted all those who were...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
Paul Craig Roberts is an American economist and a columnist for Creators Syndicate. He served as an Assistant Secretary of the Treasury in the Reagan Administration and was noted as a co-founder of Reaganomics. Dr. Roberts is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. He has testified before congressional committees on 30 occasions on...Read More
"Interesting exchange toward the end of Trump's remarks with reporters before Marine One departure: Trump says US considering blockade on Venezuela."Continue...Read More
Silver market analyst Ted Butler welcomed a statement by the new chairman of the U.S. Commodity Futures Trading Commission, Heath Tarbert, that the commission Continue...Read More
Stewart Thomson, Graceland Updates 1. Is gold finally due to swoon or can it continue to rally?2. The naysayers point to overbought conditions on the weekly charts, COT reports showing a mammoth short position held by the commercial traders, and the upcoming stock market "crash season".3. The bulls point to a peaking US business cycle, inflationary and growth-destr...Read More
By: Ira Epstein$1,425.60 keeps the gold price bias to the upside:Read More
The S&P and Nasdaq logged their third straight lossStocks started the session higher -- with the Dow up more than 83 points at its intraday peak -- on a blowout earnings report for Apple (AAPL) and upbeat jobs data. Markets held modest gains through midday, before turning sharply lower in the wake of this afternoon's Fed announcement. While the central bank issued a 25-basis-point rate cut and sai...Read More
Meanwhile, another stock extends its 2019 lead to almost 900%Stocks mostly traded near breakeven today, though the Dow was last seen sharply lower after Fed Chair Jerome Powell suggested more rate cuts may not be coming. Three names to watch in the meantime are electric vehicle producer Workhorse Group Inc (NASDAQ:WKHS), drugmaker Omeros Corporation (NASDAQ:OMER), and online education specialist 2...Read More
A short squeeze could add fuel to the stock's fireThe shares of genetic testing concern InVitae Corp (NYSE:NVTA) are fresh off an all-time high of $28.38, last seen 1.6% higher at $27.60, thanks to a boost from Citron Research. The firm said it will "continue to stay long until the stock hits at least $65, as we believe it is on its way to $100" -- nearly four times yesterday's close of $27.21. Fu...Read More
Gold futures finished lower Wednesday, then extended their decline in to the electronic trading session after the Federal Reserve reduced its key interest rate by a quarter point, as expected. The yellow metal sold off shortly after the Fed news, but Jeff Wright, executive vice president of GoldMining Inc., said he does not expect prices to dip below $1,400 as "the FOMC cuts 25 basis points and al...Read More
Wayfair's second-quarter earnings are expected before the open tomorrow The shares of online home goods retailer Wayfair Inc (NYSE:W) have been coasting steadily lower since touching a record high of $173.71 in March, slamming into resistance at the $165 region and recently falling back beneath the $140 area, which acted as support for the stock's post-bull gap lows back in February. However, Wa...Read More
Spread activity is detected today in VKTX's options pitsThe shares of Viking Therapeutics Inc (NASDAQ:VKTX) are up 3.3% to trade at $7.93 today, as the biotech concern prepares for its second-quarter earnings report, set for after the close tomorrow, Aug. 1. Ahead of the event, VKTX's typically quiet options pits have come alive, with an emphasis on calls. More specifically, VKTX has seen almost...Read More
Gold bulls might be in a mood to celebrate if the Federal Reserve, as is widely expected, delivers a rate cut Wednesday. But history suggests they might want to keep their emotions in check. Gold GCV19, -1.21%, after all, has already enjoyed a substantial rally-with futures trading near a six-year high-fueled in large part by mounting expectations for the Fed to deliver easier monetary policy in a...Read More
BHGE may have cleared long-term technical resistance todayOilfield services provider Baker Hughes (NYSE:BHGE) is one of the best stocks on Wall Street today thanks to the company's second-quarter earnings beat. The shares have gained 4.8% today to trade at $25.68, and this has them pushing above a moving average on the charts that has caused issues for the stock in the past. For instance, the equ...Read More
The research firm issued a "strong sell" opinion on the surgical instrument makerSurgical instrument maker Penumbra Inc (NYSE:PEN) is among the worst stocks on the New York Stock Exchange (NYSE) today, due to a scathing note from Spruce Point Capital Management. The research firm issued a "strong sell" opinion on PEN shares, and predicted 40% to 55% downside risk for the "one-trick pony" amid a "w...Read More
All three benchmarks are heading toward monthly winsAs July comes to a close, the Dow Jones Industrial Average (DJI) has traded on both sides of the aisle, but was last seen cautiously higher due to a post-earnings surge from Apple (AAPL). Meanwhile, the S&P 500 Index (SPX) also sits just above breakeven at midday, while the Nasdaq Composite (IXIC) is firmly in the black thanks to a tech sect...Read More
Humana reported a second-quarter earnings and revenue beat before the bell todayHeathcare concern Humana Inc (NYSE:HUM) hit a new five-month high of $301.86 earlier today, and is now trading up 4.3% at $296.67, pacing for its fourth straight win. This comes after the firm posted second-quarter earnings of $6.05 per share on $16.25 billion in revenue, both of which beat analysts estimates, and lift...Read More
The GPS concern reported earnings and revenue that exceeded analysts' estimates The shares of GPS concern Garmin Ltd. (NASDAQ:GRMN) are skyrocketing today, after the firm unveiled second-quarter earnings and revenue that beat analysts' estimates. The company cited growing demand for its wearable and fitness devices, and lifted its 2019 revenue forecast on growing expectations for its aviation, mar...Read More