The fund appears headed for its longest weekly win streak in five yearsSkyrocketing oil prices have sparked heavy options trading on United States Oil Fund (USO). The energy-focused exchange-traded fund (ETF) is up 0.9% today to trade at $13.79 -- and 10.3% higher month-to-date -- and calls are in high demand, with one bull betting on even bigger gains over the next month.Taking a quick step back,...Read More
Texas lawmakers created a new storage option for miners when they signed off on building America's first state-backed gold depository in 2015.The Texas Bullion Depository, currently under construction and with the capacity to house physical gold valued in excess of $100 billion will be the most secure facility outside of Fort Knox, will have the full protection of the state of Texas, and is insure...Read More
Texas lawmakers created a new storage option for miners when they signed off on building America's first state-backed gold depository in 2015.The Texas Bullion Depository, currently under construction and with the capacity to house physical gold valued in excess of $100 billion will be the most secure facility outside of Fort Knox, will have the full protection of the state of Texas, and is insure...Read More
Gold prices on Tuesday finished lower as one popular measure of the U.S. dollar teetered near a two-year high, producing headwinds for bullion. Gold for June delivery GCM9, -0.27% declined $4.40, or 0.3%, to settle at $1,273.20 an ounce, with the commodity suffering from the lowest most-active contract settlement since Dec. 26, according to FactSet data. "The safe-haven metals continue to be ha...Read More
The shares are stalling near a key technical area, thoughIt's a record-setting session on Wall Street today, with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) poised for all-time closing highs. Among individual stocks making notable moves are retailer Kohl's Corporation (NYSE:KSS), semiconductor name Qualcomm, Inc. (NASDAQ:QCOM), and integrated circuit specialist Silicon Motion Technology C...Read More
BMO Capital Markets has initiated coverage of Probe Metals (TSXV: PRB) with an outperform rating and a C$2.00 target price-double its current share price of C$0.98.By Tuesday afternoon, the Canadian miner's stock was up 7.37% on the TSX, trading at C$1.02. The company has a C$112.8 million market capitalization.The junior explorer's 100%-owned Val d'Or East project "is one of the higher quality Ca...Read More
Cantor Fitzgerald is bullish on the company's migraine drugZosano Pharma Corp (NASDAQ:ZSAN) shares are higher today, after analysts at Cantor Fitzgerald initiated coverage with an "outperform" rating and $12 price target -- more than triple yesterday's ZSAN close of $3.66. The brokerage firm last night waxed optimistic on Zosano's ADAM technology and Qtryptadrug, the latter of which Cantor expects...Read More
The Dow component is preparing to report earningsMicrosoft Corporation (NASDAQ:MSFT) just hit an all-time high of $125.25 ahead of its post-close earnings release tomorrow, April 24, extending its year-to-date gain to roughly 23%. We noted earlier this month that bullish options traders were getting behind the stock, and that trend has continued, with MSFT's 10-day call/put volume ratio at the Int...Read More
Recent positive news suggest the US economy spring revival. But what about gold? Will it blossom? Will the gold love trade take reins from gold as a safe haven play? Retail Sales Surge Last week, the government has released its latest report on the retail sector. The retail sales jumped 1.6 percent in March, the best results since September 2017, as one can see in the chart below. The change was a...Read More
The Dow is heading toward its highest close since OctoberThe Dow Jones Industrial Average (DJI) is up triple-digits today, and eyeing its highest close since October, thanks to a upbeat quarterly earnings from blue chips Coca-Cola (KO) and United Technologies (UTX). In addition, traders are digesting a surprise jump in new home sales in March. Both the S&P 500 Index (SPX) and Nasdaq Composite...Read More
The software shares are trading in record-high territorySoftware name VMware, Inc. (NYSE:VMW) has been trading in a solid channel of higher highs lately. The shares hit an all-time high of $194.24 just last week, and are now pulling back to their 20-day moving average - a trendline that has acted as support this year.We believe now is an opportune time to get in on VMW's next leg higher. In spite...Read More
PayPal reports earnings after the close on WednesdayPayPal Holdings Inc (NASDAQ:PYPL) stock this morning received a price-target increase to $125 from $110 at Jefferies. The move shows confidence in PYPL shares extending their impressive start to the year, already up 27% in 2019 and they hit an all-time high of $109 last week. Technical data suggests more upside indeed is ahead, since Schaeffer's...Read More
Trans-Siberian Gold plc (TSG.LN), a low cost, high grade gold producer in Russia, is pleased to announce that the Federal Agency for Subsoil Use (Rosnedra) has issued a licence to ZAO Trevozhnoye Zarevo (TZ), TSG's wholly owned subsidiary, for the development and exploration of the Rodnikova deposit, one of the largest gold fields in South Kamchatka, for a tenure of 20 years. Highlights:20 year li...Read More
DIS recently gapped higher after providing details for its new streaming serviceThe shares of Walt Disney Co (NYSE:DIS) are up 1.9% to trade at $134.16 this morning, and earlier nabbed a fresh record high of $134.23, getting a boost ahead of this week's premier of "Avengers: Endgame," the final chapter of the movie industry's highest-grossing franchise of all time. The movie is a contender to s...Read More
France's environment minister, Fran??ois de Rugy, is expected to announce in June the government's official position on a proposed open-pit gold mine and precious metals industry in French Guiana, potentially the department's largest, and it has locals divided.The Montagne d'Or gold project, a joint venture between Russian billionaire Alexey Mordashov's mining company, Nordgold, and Canadian ju...Read More
The shares have broken out above their 200-day trendlineHasbro, Inc. (NASDAQ:HAS) stock gapped higher at the open this morning, after the toymaker said it swung to an unexpected first-quarter profit of 21 cents per share, while revenue of $732.5 million handily exceeded the consensus estimate. HAS cited rising sales from its franchise brands -- which include Play-Doh and Monopoly -- as well as a s...Read More
Agnico Eagle Mines is doubling down this year on Nunavut, Canada's least developed territory, betting that the high-grade gold ores and slim competition there will offset the risks of digging in the remote location in the far north.For miners desperate to shore up reserves, the choice is often between safer jurisdictions with inhospitable geographies and easier-to-reach ores in politically challen...Read More
SHOP could notch new highs again todayShopify Inc (NYSE:SHOP) scored a price-target raise to $240 from $210 at CIBC, with the brokerage firm maintaining its "outperform" rating ahead of earnings next Tuesday, April 30. CIBC said it was impressed by Shopify's improving trends in international markets and around its Plus e-commerce product, as well as its positive earnings history sinceits May 2015...Read More
Oil prices are pointed higher, tooDow Jones Industrial Average (DJI) futures are modestly above fair value this morning, as Wall Street digests a heavy dose of blue-chip earnings. Among the winners are Coca-Cola (KO) and United Technologies (UTX), while Procter & Gamble (PG) stock seems set for a post-earnings slip. Traders are also keeping a close eye on oil prices, which continue to rise. At las...Read More
It could be a week to remember for SOCL as some of its top holdings take the earnings stageEarnings season is officially underway, and while bank and healthcare stocks have dominated Wall Street's attention lately, social media stocks could soon have their "moment in the sun." With Facebook (FB), Twitter (TWTR), and Snap (SNAP) set to report earnings this coming week, we decided to crunch the numb...Read More