Target stock closed just shy of a key trendline yesterdayDespite the retail sector seeing earnings-related weakness this week, shares of Target Corporation (NYSE:TGT) have already gapped 7% higher, to trade at $76.68. Target this morning reported a first-quarter earnings and same-store sales beat, citing same-day fulfillment services for its digital strength especially. The company also shared pl...Read More
A federal judge ruled Qualcomm's practices as a violation of antitrust lawThis morning, U.S. District Judge Lucy Koh in San Jose, California, ruled that Qualcomm, Inc. (NASDAQ:QCOM) has violated antitrust law. More specifically, Koh accused the Apple supplier of marginalizing competition for cellphone chips by exacting steep licensing fees. In her own words, "Qualcomm's licensing practices have s...Read More
The company reported weakening sales growth for its first-quarter The shares of Urban Outfitters, Inc. (NASDAQ:URBN) are slipping today, after the retailer reported slower growth for its first quarter. Specifically, the firm posted per-share earnings that beat analysts' estimates, but came in 7 cents lower than last year's results, as well as weakening sales and shrinking gross margins -- mostly d...Read More
The Philippines has passed a law exempting gold sales by small-scale miners to the central bank from excise and income taxes to beef up the country's foreign exchange reserves and prevent smuggling, the Bangko Sentral ng Pilipinas said on Wednesday.Philippine President Rodrigo Duterte signed the law into effect on March 29, the central bank said in a statement.By law, all gold produced by small mi...Read More
Weekly options traders targeted HD's post-earnings actionLowe's Companies, Inc. (NYSE:LOW) is set for a large sell-off after the company reported quarterly earnings that were below analysts' expectations. On top of that, the retailer lowered its full-year profit forecast. Shortly before the open, LOW shares were down 8.5%, which would put them at $101.68, back below the 200-day moving average. The...Read More
The FOMC meeting minutes are set for release later todayFutures on the Dow Jones Industrial Average (DJI) are trading below fair value, with a busy day already taking off for investors. Retail stocks are weighing heavy after a slew of disappointing earnings reports, while chip stock Qualcomm (QCOM) is down 10% in electronic trading, after U.S. District Judge Lucy Koh ruled the tech firm used antic...Read More
The European elections take place this Thursday in the UK and the polling suggests a win by a large majority by the Brexit Party.Theresa May intends to ask her cabinet to sign off a package of Brexit concessions this week, as she ramps up for one last bid to win over MPs.The lack of clarity surrounding this issue is having a negative effect on both the Pound and the Euro and thus the US Dollar gli...Read More
Rise Gold (CSE: RISE) reported this week that the exploration drill program the company is carrying out at its Idaho-Maryland project intercepted high-grade gold mineralization in multiple vein structures downdip from historic workings.The past-producing high-grade Idaho-Maryland gold mine is located near Grass Valley in northeastern California.Historical records state that the mine produced a tot...Read More
Rise Gold (CSE: RISE) reported this week that the exploration drill program the company is carrying out at its Idaho-Maryland project intercepted high-grade gold mineralization in multiple vein structures downdip from historic workings.The past-producing high-grade Idaho-Maryland gold mine is located near Grass Valley in northeastern California.Historical records state that the mine produced a tot...Read More
Australia's largest gold producer, Newcrest Mining (ASX: NCM), will begin in June the most extensive drilling program to date at Greatland Gold's (LON:GGP) Havieron gold-copper project in the Paterson region of Western Australia.The exploration activities, part of a joint venture the two companies signed in March, aim to define the extent of mineralization along strike and at depths to 1,000m be...Read More
Australia's largest gold producer, Newcrest Mining (ASX: NCM), will begin in June the most extensive drilling program to date at Greatland Gold's (LON:GGP) Havieron gold-copper project in the Paterson region of Western Australia.The exploration activities, part of a joint venture the two companies signed in March, aim to define the extent of mineralization along strike and at depths to 1,000m be...Read More
Since 2010, stocks have tended to struggle Memorial Day Week The unofficial start to summer is next week, with U.S. markets closed on Monday, May 27, for Memorial Day. This week, I'll show you how stocks have performed in the past during the holiday week.Recent Weakness After Memorial DayThe table below summarizes the weekly returns of the S&P 500 Index (SPX) since 1971 (the year Memorial Day offi...Read More
* UK PM May's Brexit deal falls apart, hurting stocks, FX * Sterling hits lowest since Jan flash crash against dollar * But losses curbed on Sky report May will resign tonight * Graphic: World FX rates in 2019* Graphic: Trade-weighted sterling since Brexit vote (Updates prices)By Abhinav Ramnarayan and Saikat ChatterjeeLONDON, May 22 (Reuters) - Sterling fell on Wednesday andwas on track for its l...Read More
Barrick Gold's subsidiary Acacia Mining (LON:ACA) condemned its parent company on Wednesday for keeping it out of discussions with the government of Tanzania about a long-running row over outstanding tax claims.Acacia's comments come on the heels of the Canadian gold giant's bid to take full control of the company, which is Tanzania's No. 1 gold miner.Toronto-based Barrick has proposed to buy the...Read More
Here Are 3 Hot Things to Know About Stocks Right Now Stocks ended higher Tuesday after the Commerce Department eased restrictions on China's Huawei Technologies. Home Depot (HD - Get Report) rose slightly after beating first-quarter earnings expectations but missing on same-store sales growth. Kohl's (KSS - Get Report) missed Wall Street's first-quarter earnings expe...Read More
Steve Savilleemail: sas888_hk@yahoo.comPosted May 21, 2019The price of platinum has pulled back from an early-April high of US$920 to$833, meaning that it has 'corrected' by almost 10% in a little more than amonth. Over the same period the price of the Physical Platinum ETF (PPLT)has dropped from around US$86 to US$78.79. Both platinum and PPLT are now trading very close to their respective 200-da...Read More
The Tuesday Market Minute Global stocks rebound following a move by the Commerce Department to ease restrictions on China's Huawei Technologies.Tech stocks gain on temporary reprieve for world's biggest equipment maker, but China's hit at reprisals, as well as the ongoing supply chain disruption, caps equity market gains.Oil edges higher amid ongoing concern over the escalating U.S. rhetoric tow...Read More
Ole Hansen16 hours ago (May 21, 2019 8:27 AM GMT)Last week was another very frustrating week for gold traders. From a bullish perspective, the week began on a promising note with stock market weakness and the US-China trade war concerns lifting the price above previous resistance. This situation, combined with the break above $1,300/oz, helped trigger the biggest one-week accumulation of longs by...Read More
By: David HaggithThe graph here shows the point at which I said early last summer housing sales had turned over (for the worst) and would remain on a downtrend indefinitely, and it shows how that prediction has panned out.Existing home sales were down again nationally (4.4%) in April (fourteenth month in a row of declining sales year on year). That is the longest stretch without a single positiv...Read More
By: Craig HemkeThat this is even a question reveals the intellectual laziness of those who ask. However, since this is coming up with regularity again, here's another post on the subject.First, a summary of recent admissions and convictions against The Banks: o LIBOR manipulation: https://en.wikipedia.org/wiki/Libor_scandal (Note the section where it's noted that LIBOR fixing operates as a "...Read More