Stocks rallied on Wednesday following the Fed's Rate Decision announcement. The broad stock market extended its month-long advance, as the S&P 500 index got closer to the 2,700 mark. Will the uptrend continue today?The U.S. stock market indexes gained 1.6-2.2% on Wednesday, as investors reacted to the FOMC's Statement, quarterly corporate earnings releases. The S&P 500 index broke above it...Read More
EY has announced the appointment of Paul D. Mitchell as the new EY global sector leader for mining and metals.In his new role, Mitchell will be responsible for driving the EY mining and metals sector strategy, leading a network of over 5,000 industry professionals worldwide. He will focus on strategic thinking and digital transformation for clients, in this age of sector disruption. Mitchell will...Read More
Meanwhile, gene therapy stock MGTX is making a huge move of its ownThe Dow is trading lower today, failing to benefit from the strength out of the tech sector. Three names making big moves today are tobacco and weed concern Pyxus International Inc (NYSE:PYX), gene therapy stock MeiraGTx Holdings PLC (NASDAQ:MGTX), and pharma name Aquestive Therapeutics Inc (NASDAQ:AQST). Here's what's moving share...Read More
Visible Gold, headquartered in Rouyn-Noranda, Que., has agreed to purchase the remaining 40% interest in the Cadillac East gold project from Cadillac West Explorations, a subsidiary of Liberty Gold Corp. Visible Gold will then be the 100% owner of the project.The purchase is a share-only deal. Visible Gold will issue 750,000 common shares with a deemed value of $0.06 each to Cadillac West. The Cad...Read More
Blue-chip Walt Disney will also report next weekEarnings season continues with FAANG member Alphabet (GOOG) entering the earnings confessional, as well as social media heavyweights Snap (SNAP) and Twitter (TWTR). Dow member Walt Disney (DIS) will also report earnings next week. Outside of earnings, Fed Chair Jerome Powell will garner attention a week after the central bank suggestedit could alter...Read More
Against a backdrop of continued stock market volatility and geopolitical risk, gold demand surged in Q4 of 2018, according to a new report released today from the World Gold Council.Annual gold demand increased 4% on highest central bank buying in 50 years. Gold demand in 2018 reached 4,345.1 tonnes, up from 4,159.9 tonnes in 2017. Central banks' demand for gold soared to the highest level si...Read More
• Dovish Fed signals continue to boost demand for the non-yielding yellow metal. • A turnaround in equities offset a modest USD rebound and remained supportive. • Focus now shifts to Friday’s important release of the keenly watched US NFP data. Gold continued gaining positive traction through the mid-European session and c...Read More
Big win for the doves! And for gold, as it jumped above $1,320 amid the soft FOMC statement. What’s next? Committee Will Be Patient Yesterday, the FOMC published the monetary policy statement from its latest meeting that took place on January 29-30th. In line with the expectations, the US central bank unanimously kept the federal funds rate unchanged at the target range of 2.25 to 2.50 perce...Read More
Gold markets were rocking on Tuesday, lifted by a basket of factors that included poor stock market performance earlier in the week, slow growth in China, weak earnings reports and expectations the US Federal Reserve would strike a dovish tone at its two-day meeting starting on Tuesday afternoon.It used to be that major gold miners were looking at 5-million ounce projects to buy and develop; now t...Read More
History says beware one blue chip before earningsWhile the broader S&P 500 Index (SPX) is on pace for its best month since October 2015, several stocks could take a breather in February, if past is prologue. Below are the 25 worst stocks to own in the shortest month of the year, looking back 10 years, with Merck & Co, Inc. (NYSE:MRK) at the top of the list ahead of earnings tomorrow.In order to ma...Read More
in 2018, Central banks bought the most gold by volume since 1967.The Russian central bank is leading the way as it looks to reduce its reliance on dollar reserves.David Reid| @cnbcdavyPublished 13 Hours AgoCNBC.com Carla Gottgens | Bloomberg | Getty ImagesGold bars sit in a vault at the Perth Mint Refinery, operated by Gold Corp., in Perth, Australia, on Thursday, Aug. 9, 2018.The amount of go...Read More
The Nasdaq, meanwhile, is set for its best month since 2011The Dow Jones Industrial Average (DJI) is down 78 points at midday -- after being down more than 170 points earlier -- dragged lower by disappointing earnings reports from Microsoft (MSFT) and DowDuPont (DWDP). Intel (INTC) joined the list of stocks at the bottom of the Dow, too, after naming Robert Swanits permanent CEO. The S&P 500 Ind...Read More
One name has explored both sides of breakeven todayB. Riley upgraded Geron Corporation (NASDAQ:GERN) to "buy" from "neutral," and raised its price target to $3.25 from $1.50 -- a 215% premium to last night's close. The analyst in coverage waxed optimistic on the drugmaker's myelofibrosis treatment imetelstat, projecting approval from the Food and Drug Administration (FDA) by 2023, and U.S. sales o...Read More
Gold and Silver, Daily & H4 Gold Futures soared to fresh eight-month highs of 1,323.00 from near $1,308, after the dovish FOMC statement, which removed the reference to further gradual rate increases, resulting in a fresh round of risk-on, and a lower Dollar and Treasury yields. Today marks the fourth straight day of higher daily highs, following the January 18, which provided a Gold...Read More
Fed confirms that gold has nothing to fear from rising rates.Stronger pound and weaker dollar also continue to support bullion.Gold's relative strength versus S&P 500 bodes well for interim outlook. The outlook for gold continues to brighten now that it no longer has to compete with higher interest rates. In today's report, we'll discuss the Federal Reserve's latest interest rate statement...Read More
The company reported fiscal second-quarter revenue that fell shortThe shares of Microsoft Corporation (NASDAQ:MSFT) are down 2.3% at $103.92 -- dragging on the Dow -- after the company reported fiscal second-quarter revenue below analysts' expectations. The company cited a strengthening U.S. dollar, slowing Azure revenue growth, and a personal computing segment revenue miss for the disappointing n...Read More
PFE shares recently came into contact with their 200-day moving averageComing off the company's earnings release on Tuesday, Pfizer Inc. (NYSE:PFE) just received an upgrade to "outperform" from "neutral" at Credit Suisse, which bumped up its price target to $47 from $45. This is overshadowing a minuscule price-target reduction out of Independent Research, from $44 to $43. PFE shares are trading hi...Read More
Zijin completes acquisition of Nevsun.The new Barrick Gold starts trading as GOLD. What comes next?Newmont and Goldcorp to combine forces. Is it a good move?Here's a look at that news and more top news in the gold sector for January 2019.Top Gold Mining News for January 2019 I am here to provide you with the top news in the gold mining sector for January 2019. Well, things are looking pretty g...Read More
This article is an update to the view that we expressed here on Silver during the past couple of months. The precious metal apparently broke through a bearish mid-term trend support as we publish this article. Therefore, it is reasonable to reassess the outlook for silver. To recap briefly, we presented a long asymmetric risk/reward trade idea on November 15th, 2019. The nearest silver future was...Read More
The brokerage firm downgraded the stock and cut its price targetGoldman Sachs downgraded H & R Block Inc (NYSE:HRB) stock to "sell" from "neutral," and lowered its price target to $22 from $27 -- a discount to last night's close at $25.52. Analyst George Tong said U.S. tax reform and the ending of many promotions this year will likely lead to falling assisted tax volume for the company.In reaction...Read More