* Graphic: World FX rates in 2019* Graphic: Trade-weighted sterling since Brexit vote* Pound on course to reverse week's losses * Virgin's Richard Branson warns of parity with dollar * Brexit and lower rates still a drag for sterling (Adds quote, updates prices)By Olga CotagaLONDON, July 11 (Reuters) - Sterling firmed on Thursday,erasing most of this week's losses, after U.S. Federal ReserveChairm...Read More
Bed Bath & Beyond reported revenue below analysts' expectations Retailer Bed Bath & Beyond Inc. (NASDAQ:BBBY) is struggling this morning, after unveilingfiscal first-quarter revenue and comparable-store sales that missed analysts' mark. The home goods peddler did report better-than-expected per-share earnings, but warned that full-year profits will come in at the lower end of previous guidance. As...Read More
AEO has fallen on the charts over the past yearClothing retailer American Eagle Outfitters (NYSE:AEO) is making headlines this morning on news it plans to sell cannabidiol-infused products online and in nearly 500 stores. American Eagle said it struck a deal with Green Growth Brands to sell body-care products infused with CBD oil, joining sector peers Abercrombie & Fitch (ANF) and Designer Brands...Read More
MSFT shares could take aim at record highs againMicrosoft Corporation (NASDAQ:MSFT) is trading in positive territory this morning after Cowen began coverage with an "outperform" rating and $150 price target, banking on more strength from the company's commercial cloud business. This view puts the brokerage firm in opposition with analysts at Jefferies, but mirrors the general bullishness on the st...Read More
SNAP options can be had for a bargain right nowThe shares of Snap Inc (NYSE:SNAP) are up 1.9% in electronic trading, after Bank of America touted improved revenue for the company's upcoming second-quarter earnings. The analyst cited a sharp increase app downloads to near record levels last month due to the Snapchat app's "gender-face-swap" filter. The brokerage firm lifted its price target to $1...Read More
Traders also continue to cheer Powell's dovish testimonyDow Jones Industrial Average (DJI) futures are signaling another up day, following yesterday's record highs, as traders continue to cheer dovish comments from Fed Chair Jerome Powell. The central banker will continue his testimony in Washington, D.C., today. In addition, healthcare stocks -- including blue chips Walgreens Boots Alliance (WBA)...Read More
Delta Air Lines reported impressive second-quarter resultsDelta Air Lines, Inc. (NYSE:DAL) stock is up 1.6% in electronic trading, after the air carrier reported better-than-expected second-quarter adjusted earnings of $2.35 per share on a record $12.5 billion in revenue, in line with the consensus estimate. DAL also said unit revenue rose 3.8%, and raised its full-year profit forecast and quarter...Read More
Despite the recent rally, gold still offers value to investors.Gold is undervalued compared to stocks and U.S. government bonds.Mining stock demand is also still strong, which bodes well for the metal.After the 10% gold price increase last month, some would-be buyers have concluded that gold has reached its upside potential and is due for a major pullback. Under normal circumstances, this would be...Read More
The commodity complex is especially exposed to headline sentiment, and there's been a lot going on so far this year.The direction has led gold to, just maybe, start the next bull cycle that has been so long awaited?Energy seems to be continuing its churn, with oil stuck between $50-60. Is that going to change?We ask a panel of Marketplace authors to break down the stories and explain how they&...Read More
* GRAPHIC-2019 asset returns: (Adds closing prices)By Zandi ShabalalaLONDON, July 11 (Reuters) - Copper was supported by a weakerU.S. dollar on Thursday after Federal Reserve Chairman JeromePowell raised expectations for an easing of monetary policy,although trade war tensions capped gains.Powell said on Wednesday the U.S. economy was under threatfrom a damaging trade war between Washington and Be...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The S&P 500 briefly hit 3,000 for the first time on Wednesday after remarks from Federal Reserve Chairman Jerome Powell suggested the Fed would cut interest rates at its meeting at the end of July. Shares of Levi Strauss (LEVI) fell after the jeans maker posted fiscal second-quarter adjusted earnings ahead of forecasts but indicated sale...Read More
Jason talks with Paul Craig Roberts about people's lack of resistance to being manipulated, controlled, and our general apathy to stand up for what is right and wrong. The pair also discuss the Epstein child trafficking case.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 no...Read More
Alasdair Macleod, with a background as a stockbroker, banker and economist, explains what impact the international financial wars will have on gold and the markets.>Alasdair Macleod is head of research for GoldMoney. He also runs FinanceAndEconomics.org, a website dedicated to sound money and demystifying finance and economics. He has a background as a stockbroker, banker and economist. Read More
Bob Moriarty ArchivesJul 11, 2019A couple of weeks back I was calling for a correction in gold. All of a sudden everyone was talking about gold and how high it was going to go. Bullish sentiment hit an absurd extreme. I got it right; the correction began the next day.Investors tend to forget that even in the most bullish of markets, corrections are common and desirable. Since the high, sentiment h...Read More
- Dave Kranzler"You've assigned us the job of two direct, real-economy objectives: maximum employment, stable prices. If you assigned us [to] stabilize the dollar price of gold, monetary policy could do that, but the other things would fluctuate and we wouldn't care," Powell said from Capitol Hill. "We wouldn't care if unemployment went up or down. That wouldn't be our job anymore." - Jerome...Read More
- SRSrocco In June, the gold price finally broke above the $1,400 level after five long years. So, who was responsible for pushing the gold price to a new high since 2013? Well, if we look at the data, it most certainly wasn't the physical gold investor. And, according to several dealers I spoke with, physical gold retail investors took advantage of the $1,400+ price to sell metal rathe...Read More
By Avi GilburtSince this article is being addressed to longer term investors, I think you will likely appreciate the message within this write up.While I analyze the metals markets on many time frames, this perspective is based upon a daily chart which has months to still play out.But, before I move into my perspective of the market, allow me to summarize how I view the metals market in general...Read More
Dear Friend of GATA and Gold:Citing a confession to gold market manipulation in the United States, a member of Parliament this week urged the British government to investigate possible manipulation of the gold market in London.The member, Jeremy Lefroy, Conservative for Stafford, prompted a discussion of manipulation during a speech Monday in the House of Commons. Lefroy questioned the economic...Read More
By: Ira EpsteinGold in an up-thrust but in a congestion area:Read More
Fed Chief Powell supposedly has strong support inside Congress to fend off Trump's calls for lower interest rates. How do we know this? Well, there was this headline atop the lead story in Wednesday's Wall Street Journal: 'Powell's Support Inside Congress Is Deep'. And here was the sub-hed, in case you missed the point: 'Lawmakers on both sides say they would oppose any bid to oust the Fed chai...Read More