* Global economy could face recession * Data deteriorated before latest flare up on trade * Weak economy may spark c. bank "race to the downside" onrates (Adds U.S. data; changes dateline, previous LONDON/HONG KONG)By Trevor Hunnicutt, Jonathan Cable and Marius ZahariaNEW YORK/LONDON/HONG KONG, June 3 (Reuters) - Factoryactivity slowed in the United States, Europe and Asia last monthas a...Read More
J.P. Morgan Securities removed Salesforce.com from its Analyst Focus listSalesforce.com, Inc. (NYSE:CRM) was just taken off J.P. Morgan Securities' Analyst Focus list, right before the cloud concern unveils its first-quarter earnings after the close tomorrow, June 4. The analyst maintained its "outperform" rating and $180 price target, but warned software valuations were nearing a 15-year peak. Th...Read More
With riskier assets taking a beating last month, safe havens benefited, including gold. The SPDR Gold Shares GLD, +1.44% the world's largest gold-backed exchange traded fund, jumped 2.43 percent in May while equity benchmarks stumbled. Gold's May rebound, which took the yellow metal above the $1,300 per ounce level, lifted gold miners stocks and the related ETFs. After gaining nearly 4 percent las...Read More
Pullbacks to KDP's 80- and 100-day moving average have bullish implicationsBeverage stock Keurig Dr Pepper Inc (NYSE:KDP) nabbed a record high of $29.76 back on May 15. Since then, however, the shares have logged three straight weekly losses, sending KDP toward two key trendlines that have historically bullish implications. In other words,the security could be eyeing its next surge higher.Specifi...Read More
The Nasdaq, meanwhile, is still in the redThe Dow Jones Industrial Average (DJI) was down triple digits earlier, as a fresh set of trade fears emerged after the Chinese government released a critical white paper over the weekend. The big-cap index has since swung to a 67-point lead on strong gains for several blue chips, including Merck (MRK), Verizon (VZ), and Walgreens Boots Alliance (WBA). And...Read More
Some of today's put volume may be protectiveIt's been a volatile stretch for Genocea Biosciences Inc (NASDAQ:GNCA) stock, per its 30-day historical volatility of 102.9%, a new 12-month high. Looking closer, the shares surged 25% on Friday thanks to news the company's lead cancer treatment, GEN-009, will be featured in the Journal of Clinical Oncology (JCO). And today, GNCA stock is up 54.2% at $8....Read More
Already legal in 30 states, the tide is turning for medical marijuana.It seems like everyone is looking for a way to make money from the legal marijuana boom...But many don't want to roll the dice and risk their hard-earned money on a penny stock, or spend hours learning how to buy shares of a grower on some Canadian exchange.But there is good news.Marijuana profit-sharing plans are here, and one...Read More
Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More
Gold built on last week's gains on Monday rising 1.5% in heavy volume as investors seek a safe haven amid a widening trade war unleashed by US President Donald Trump.Gold for delivery in August, the most active futures contract, reached a high of $1,333 an ounce, the highest 10 weeks with over 33m ounces changing hands in New York by early afternoon.Trump's plan to impose a 5% tariff on all Mexica...Read More
Credit Suisse gave detailed analysis for how tariffs could impact the companiesWall Street last week quickly named beer stock Constellation Brands (STZ) a loser on potential Mexico tariffs. More analysts are weighing in this morning, this time on the alternative energy space. Specifically, Credit Suisse analysts said Enphase Energy Inc (NASDAQ:ENPH) and SunPower Corporation (NASDAQ:SPWR) would be...Read More
RBC is impressed with Waste Management's tech initiativesThe shares of Waste Management, Inc. (NYSE:WM) are up 0.9% to trade at $110.40 this morning, and earlier nabbed a record high of $110.90. This comes after RBC upgraded the trash giant to "outperform" from "sector perform," and raised its price target to $125 from $113. The analyst in coverage waxed optimistic on the company's leadership tea...Read More
Humana said it is not buying Centene Healthcare concern Centene Corporation (NYSE:CNC) is near the bottom of the New York Stock Exchange this morning, afterinsurance heavyweight Humana (HUM) said it will not make a bid for the firm. While Humana typically doesn't comment on M&A buzz, the firm made an exception amid "significant investor speculation and persistent market rumors." CNC stock is down...Read More
The shares hit a five-year low last ThursdayBofA-Merrill Lynch slapped Big Lots, Inc. (NYSE:BIG) with a double downgrade, dropping its rating on the retail stock to "underperform" from "buy." The brokerage firm also nearly halved its BIG price target, to $23 from $45 -- a discount to last Friday's close -- saying the company's full-year forecast is too optimistic, and the shares will likely strugg...Read More
It's also a busy day on the economic frontFutures on the Dow Jones Industrial Average (DJI) are trading lower as U.S.-China tensions look ready to hold back markets yet again. Coming off their worst week of the year, stocks are set to fall after China released a white paper blaming the U.S. for the fallout in trade negotiations. It's also a big day for economic data, as investors will be greeted w...Read More
Gold is finally seeing some bullish momentum as trade ructions escalate, fueling the biggest rally among the top miners in seven months.President Donald Trump's plan to impose a 5% tariff on all Mexican goods over illegal immigration rattled financial markets, boosting the haven appeal of the metal that has been weighed down by the strong dollar. China's threat to blacklist foreign firms it accuse...Read More
Trade and Treasury headlines pushed the SPY below a key put strike"...with investors raising cash and hedging stock portfolios at an increasing pace, and the headwind we have observed is quite clear... But, so far, the market has not experienced a significant amount of technical damage... The implications of the hedging activity could create a big directional move in the coming weeks, as the desce...Read More
How you can transform lagging indicators into leading indicators.No one ever said trading was going to be easy.Sometimes, do-it-yourself investing can feel about as scientific as throwing darts... and many traders give up, unable to figure out how they can break through the endless cycles of mediocre - or even straight up abysmal! - results.And when even the supposed "market gurus" or "experts" do...Read More
Foreign loans that use minerals as collateral may complicate Zimbabwe's future negotiations with foreign creditors to restructure its $8.8 billion debt, an International Monetary Fund official said on Monday.Unable to get funding from lenders like the IMF since defaulting on its debt in 1999, Zimbabwe has over the last five years relied on the African Export and Import Bank (Afreximbank) for miner...Read More
Jersey-based Royal Road Minerals (TSXV: RYR) announced the closing of the acquisition of Northern Colombia Holdings from Compa???-a Kedahda, an affiliate of AngloGold Ashanti (JSE: ANG) (NYSE: AU).In a press release, Royal Road explained that NC Holdings, through its subsidiaries, owns Exploraciones Northern Colombia, which holds or has rights to a title package comprised of mining concession agre...Read More
* GRAPHIC-2019 asset returns:* Manufacturing PMIs highlight problems ahead (Updates with official prices, ISM data and dollar impact)By Pratima DesaiLONDON, June 3 (Reuters) - Copper prices touched five-monthlows on Monday, pressured by the escalating trade disputebetween the United States and China and concerns over the damageto manufacturing activity and demand for industrial metals.Benchmark co...Read More