Traders are digesting weak housing dataU.S. stocks are mixed at midday, with the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) all lingering around breakeven. Concerns about a delayed U.S.-China trade deal are keeping some investors on the sidelines, with Wall Street also digesting a steeper-than-expected drop in new home sales in January. Meanwhile, Boeing...Read More
Canada is in danger of losing its global dominance in mining, despite recent government initiatives to improve competitiveness, according to a report from an industry association.The report, by the Mining Association of Canada, comes as debate about the hollowing out of the country's mining sector grows. Mega-mergers by Canada's two largest gold companies, Barrick Gold Corp. and Goldcorp Inc., sta...Read More
• The precious metal stalled its recent positive momentum near 200-period SMA on the 4-hourly chart and came under some renewed selling pressure on Thursday. • The intraday slide dragged the commodity below the key $1300 psychological mark and tested 50% Fibonacci retracement level of the $1280-$1311 latest up-move. • Slightly...Read More
Shorts are likely cheering today's TLRD declineTailored Brands Inc (NYSE:TLRD) is being pummeled this morning, last seen 21.7% lower at $9.15 -- and fresh of a 10-year low of $8.70 -- after the retailer reported a fourth-quarter sales miss and disappointing forecast. Looking closer, comparable sales for the Men's Wearhouse and Jos. A. Bank businesses declined during the period. In response, at l...Read More
More uncertainty over Brexit is keeping gold buoyant.Yet gold's currency factor is keeping the metal's price locked in a range.Ultimately, rising safety demand will allow gold's recovery to continue.Gold is consolidating its gains from its November-February rally and remains in a well-defined holding pattern. Pundits remain divided as to whether this holding pattern represents a pause...Read More
A thin earnings schedule still features some important namesThe main focus of the upcoming trading week will be the two-day Federal Open Market Committee (FOMC) meeting, which begins on Tuesday. Investors will be awaiting a Wednesday policy decision to see if the Fed will maintain its dovish stance. There are a few names to watch on the earnings front, too, including delivery giant FedEx (FDX) and...Read More
Culp expects 2020 and 2021 to be significantly betterThe shares of General Electric Company (NYSE:GE) are higher today, shaking off the industrial conglomerate's 2019 outlook that fell short of expectations. More specifically, the company forecast adjusted full-year earnings of 50 cents to 60 cents per share, compared to the 70 cents per share consensus estimate, and said negative cash flow in it...Read More
The brokerage firm sees strong growth for the solar stockThe shares of Vivint Solar Inc (NYSE:VSLR) are up 4% to trade at $5.21, after Goldman Sachs took a bullish stance to the alternative energy sector. The brokerage firm said it anticipates " lower costs for solar and favorable policy support ... to drive meaningful upside to the market," and forecast year-over-year utility-sector solar install...Read More
A California jury awarded a woman $29 million The shares of Johnson & Johnson (NYSE:JNJ) are down 0.9% at $138.16 in early trading, after a California jury awarded $29 million to a woman who claimed that the asbestos in the company's talcum-based powder gave her cancer. The blue chip said it would appeal.JNJ shares plummeted in mid-December, amid reports the company was aware of asbestosin its bab...Read More
Mizuho is very bullish on MSFT and CRMAnalysts this morning have issued new notes on tech stocks Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Salesforce.com, inc. (NYSE:CRM). Let's take a look at how Wall Street is viewing shares of AAPL, MSFT, and CRM. It's been a big week for Apple shares, which just notched their highest close since early December. The stock is up another...Read More
China's industrial output grew at its slowest rate in 17 yearsDow Jones Industrial Average (DJI) futures are trading modestly above fair value this morning, as traders digest a raft of headlines. While China's industrial output grew at its slowest pace in 17 years in the first two months of 2019, a Bloomberg report indicated a trade meeting between U.S. President Donald Trump and Chinese Presiden...Read More
Canada's Goldcorp (TSX:G) (NYSE: GG) said workers at its Cerro Negro mine in Argentina have returned to work, after an illegal strike at the gold producing operation, the company's biggest in the South American country.Mining stopped on March 8, when members of the Asociaci??n Obrera Minera Argentina (AOMA) downed tools, and processing activities also ceased following the exhaustion of surface sto...Read More
* GRAPHIC-2019 asset returns: (Adds closing prices, updates trade war)By Zandi ShabalalaLONDON, March 14 (Reuters) - Copper prices dropped onThursday as industrial output in top metals consumer China fellto a 17-year low in the first two months of 2019, while LMEstocks of the metal used in power and construction rose.Other Chinese data showed a mixed picture as the joblessrate climbed but property...Read More
(Updates prices) * British lawmakers vote on whether to delay Brexit later inday * Silver falls for first time in five sessionsBy Sumita LayekMarch 14 (Reuters) - Gold fell on Thursday, breaking belowkey technical support at $1,300, as the dollar edged up afterBritish lawmakers voted against a no-deal Brexit, while gains inEuropean stocks further dented bullion's allure.Spot gold was down 1 percen...Read More
(Adds details from GE, analyst comment, updates share price)By Alwyn Scott and SanjanaShivdasMarch 14 (Reuters) - General Electric Co ChiefExecutive Larry Culp on Thursday set conservative profit targetsfor this year and staked his reputation on hitting them anddoing better in 2020 and beyond, igniting a rally in the stock.Culp's detailed pep talk, which drew praise from Wall Streetanalysts on a c...Read More
* Lawmakers vote to seek Brexit delay * Traders now preparing for third vote on deal next week* Sterling swings wildly in unpredictable week * Graphic: World FX rates in 2019* Graphic: Trade-weighted sterling since Brexit vote (Writes through after parliamentary votes, adds quotes)By Tommy Wilkes and Sujata RaoLONDON, March 14 (Reuters) - Sterling retreated on Thursdayas investors prepared for Pri...Read More
Para Resources (TSXV: PBR) announced this week that it successfully tested the full CIP circuit at its Gold Road mine in Oatman, Arizona, including a test pour of gold.In a press release, the Vancouver-based miner said that a 40-ounce dor?(C) bar was poured on March 11, 2019, from the initial carbon strips after the entire plant was balanced.Para also reported that the full circuit of mining, crus...Read More
* FTSE 100 up 0.4 pct * FTSE 250 up 0.6 pct * Oil majors, financials lead gains* TUI jumps on analyst rating upgrade* Anglo American, CRH fall on ex-dividend trading * Just Group tanks after equity raising plans * Marshalls hits life high on upbeat results (Updates with closing prices)By Shashwat Awasthi and Muvija MMarch 14 (Reuters) - UK shares bagged another session ofgains as financials cheere...Read More
* Another Brexit votes loom * Goldman Sachs more optimistic * Leonardo top gainer after results * Lufthansa, autos falls (Adds closing prices, details)By Julien Ponthus and Helen ReidLONDON, March 14 (Reuters) - European shares rose to afive-month high on Thursday, boosted by strength in the bankingsector after Britain's parliament voted to reject a disorderlyBrexit.Sentiment improved from cautiou...Read More
Pan African Minerals, a unit of Timis Mining Corp., won't resume production at its Tambao mine in Burkina Faso as a Paris-based arbitration court has dismissed the company's $2.2 billion claim against the West African nation.Tambao, one of the world's largest manganese mines, was forced to halt activities in 2015 following a change in leadership in Burkina Faso. The company then asked the Inter...Read More