Traders are expecting new lows for the ETFIt's already been a roller-coaster week for the SPDR S&P Retail ETF (XRT). The exchange-traded fund (ETF) rallied on Tuesday on news that the Trump administration will delay tariffs on some Chinese goods, including several clothing and apparel items. Today, however, XRT shares are back in the red, following a grim earnings showing for Macy's (M) and concer...Read More
The nominal yield on the 10-year Treasury has fallen below 2 percent - just shy of 0 percent on an inflation-adjusted basis.Gold surged above $1,500 an ounce in USD for the first time since September 2013. Gold ETFs attracted $2.6 billion of net global inflows in July.One way to play the gold space right now is with Russian gold mining stocks.The price of copper slid as low as $2.53 per pound last...Read More
A bullish signal just flashed for IOVA that could have it trading back near its five-year highsIovance Biotherapeutics Inc (NASDAQ:IOVA) has had quite the year. The stock saw a massive post-earnings bull gap in May and subsequently rode its 10-day moving average straight towards a five year peak of $26.59 late last month. What's more, IOVA just landed on Senior Quantitative Analyst Rocky White's l...Read More
Calls are hot on the small-cap stockNovavax, Inc. (NASDAQ:NVAX) is surging higher today -- and bucking the broad-market sell-off -- last seen up 29.3% at $5.55, after H.C. Wainwright boosted its price target to $17 from $10. This new price target represents NVAX's intraday peak from March 1, the day after a massive bear gap. The shares had been grinding lower since then, eventually hitting a recor...Read More
Options traders see a bigger-than-normal earnings move comingAlibaba Group Holding Ltd (NYSE:BABA) is trading in the red today with the broader stock market, last seen down 2.7% at $159.56, with the Chinese e-commerce company preparing to report earnings before the open tomorrow, Aug. 15. Those bullish on BABA shares will be hoping for a performance similar to that last two times the firm released...Read More
The Dow is down more than 500 pointsThe Dow Jones Industrial Average (DJI) is continuing its backslide today, after this morning's Treasury yield-curve inversion signal flashed -- typically seen as a precursor to a recession. This has investors frantically selling off bank stocks, including Goldman Sachs (GS), which is down 3.7%. The blue-chip index is now down more than 500 points, completely era...Read More
Deutsche Bank cut its DE price target this morningDeere & Company (NYSE:DE) is trading down 2.4% today at $143.61, as the broader U.S. stock market sells off on recession worries. A bear note from Deutsche Bank is only adding to DE's woes, with the brokerage firm slashing its price target on the stock to $155 from $163 -- a slim 7.5% premium to current trading levels.Diving deeper, Deutsche Bank c...Read More
The majority of analysts covering WWE call it a "buy"Rosenblatt Securities initiated coverage on World Wrestling Entertainment, Inc. (NASDAQ:WWE) with a "buy" rating and an $85 price target -- a 27.4% premium to last night's close. The brokerage firm said the entertainment name is an attractive target for those looking to trade the "content is king" theme, and sees a compelling entry point followi...Read More
CBS and Viacom recently announced plans to combineYesterday, CBS Corporation (NYSE:CBS) announced an agreement to merge with Viacom (VIAB) in an all-stock deal, creating an entity -- ViacomCBS -- with more than $28 billion in revenue. Today, analysts weighed in on the deal, with Bernstein downgrading CBS stock to"underperform" from "outperform," while cutting its price target to $46 from $62....Read More
Analysts go overweight on HZNP and BMY sharesTwo names enjoying positive analyst attention this morning are drug concerns Horizon Pharma PLC (NASDAQ:HZNP) and Bristol-Myers Squibb Co (NYSE:BMY). Here's how the shares of HZNP and BMY stocks are trading this morning following the upbeat brokerage notes. HZNP stock was upgraded to "outperform" from "market perform" at BMO, which also lifted its price...Read More
The apparel concern reported an earnings and revenue beat, but weak quarterly profit margins Outerwear manufacturer Canada Goose Inc (NYSE:GOOS) is down after stepping into the earnings confessional this morning and posting a second-quarter earnings and revenue beat, thought profit margins were weaker than expected. The company cited a higher portion of its sales going to department stores for the...Read More
The yield on 10-year Treasury note fell below the 2-year Treasury yield Dow Jones Industrial Average (DJI) futures are taking a beating this morning, trading more than 300 points below fair value. This has the blue-chip index on track to pare the bulk of the gains from yesterday's trade-induced rally. Bank stocks are under the most pressure, after the yield on the 10-yearTreasury note fell below...Read More
Black Snow Capital founder Alexander Campbell foresees problems in the Chinese banking system leading to money-printing.He likes buying gold denominated in renminbi to take advantage of possible Chinese capital flight.As an alternative, he likes buying call spreads on the GLD ETF, with a long expiry. There is huge potential for an outflow of capital from China's banking system into gold, Black Sno...Read More
The U.S. Treasury yield has fallen below the S&P dividend yieldFor the longest time, it was generally accepted that bond yields would be higher than stock dividend yields. Stocks, through stock price appreciation, have potential for huge returns that aren't possible with bonds. Stocks have outperformed bonds over the long-term, and one of the costs of these higher returns was lower yields from sto...Read More
Marc discusses how various modern economic theories are already being tested as the world now has 15 trillion in negative-yielding bonds. He feels that Modern Monetary Theory would result in an overall loss of freedoms as people would become increasingly dependent on government.Gold is again rising but how high it will go, Marc, does not know but to him, it seems inexpensive when compared to negat...Read More
(Kitco News) - Gold prices should respond positively to mounting global debt, with firms like Goldman Sachs even underestimating their bullish stance of $1,575 an ounce in three months on the yellow metal, said Frank Holmes, CEO of U.S. Global Investors. "They're always going to be understated, and clearly that means that it could easily go another $150," Holmes told Kitco News. "I think it's mor...Read More
Is it Friday yet? Jim Cramer tackles when investors should be getting into gold, whether or not now is the time to sell and what he thinks of the cannabis industry. What Should Investors Do Now? The markets have been causing investors anxiety and one question that may be lingering on every investor's mind is what should they do now? Cramer penned a Real Money column Monday morning that foc...Read More
Craig HemkeAs global interest plummets to historically negative levels and as the U.S. bond market reveals a deeply inverted yield curve it's time again to assess what all of this means for the precious metals investor.Just yesterday, a fellow on CNBC remarked that "no one had seen this coming". By "this", he meant a sharp rally in both gold and bonds. Oh really? We write these articles for Spro...Read More
By: Ira EpsteinGold still up on the week. This pullback may not have been a cap on the gold rally. Was this a one day event?Read More
Trump and his delay of additional trade tariff will not have any impact on gold and silver. Yesterday's fall was just an excuse to book some profit. Long term bullish factors such as de-dollarization, central bank buying and interest rate cut trend is here to stay. Even corrections up to $1370 (if any) will be a part of the bullish trend. Silver will rise. I do not foresee it falling below $158...Read More