NEW YORK, Feb 20 (Reuters) - The Dow and S&P 500 fell on Tuesday to snap a six-session winning streak as a sharp decline in Walmart weighed heavily, but gains in Amazon and chip stocks helped the Nasdaq hold near the unchanged mark.The Dow Jones Industrial Average fell 256.62 points, or 1.02 percent, to 24,962.76, the S&P 500 lost 15.98 points, or 0.58 percent, to 2,716.24 and the Nasdaq C...Read More
Gertrude Chavez-DreyfussNEW YORK (Reuters) - Bitcoin hit a three-week high on Tuesday and has surged nearly 100 percent from its lowest level this year, as its recovery continued after South Korea’s financial regulator eased its stance on cryptocurrencies, weeks after it considered shutting down digital currency exchanges.Analysts cited South Korean news agency Yonhap, which reported Choe He...Read More
* U.S. sells $28 bln 2-year notes to lukewarm demand* U.S. 5-year yield hits near 8-year peak before supply* Traders await Fed Jan 30-31 minutes on rate-hike clues* Wall Street losses stoke safe-haven bids for bonds (Updates late market action on Wall Street losses)By Richard LeongNEW YORK, Feb 20 (Reuters) - U.S. Treasury yields rose on Tuesday with the benchmark 10-year yield hovering near a fou...Read More
* Dollar index hits six-day high* U.S. Treasury auctions seen as test of investors' appetite (Updates prices, market activity; adds comment)By Saqib Iqbal AhmedNEW YORK, Feb 20 (Reuters) - The dollar rose to a six-day high against a basket of major currencies on Tuesday, extending a rebound from a three-year low last week, helped by rising U.S. Treasury yields and as some traders trimmed overstret...Read More
* U.S. sells $28 bln 2-year notes to lukewarm demand* U.S. 5-year yield hits near 8-year peak before supply* Traders await Fed Jan 30-31 minutes on rate-hike clues (Updates market action, adds quote)By Richard LeongNEW YORK, Feb 20 (Reuters) - U.S. Treasury yields rose on Tuesday with the benchmark 10-year yield hovering near a four-year peak as investors made room for this week's deluge of $258 b...Read More
By Jim ChristieFeb 20 (Reuters) - Puerto Rico's beleaguered electric utility has received court approval to borrow $300 million to help pay expenses, well below the $1.3 billion initially sought but enough to avert power outages it had warned about.On Monday, U.S. District Court Judge Laura Taylor Swain approved the loan which had been opposed by creditors of the U.S. commonwealth and its utility,...Read More
U.S. stocks are struggling today, with the S&P 500's winning streak in jeopardy. Among individual names, pharmaceutical stock Adamas Pharmaceuticals Inc (NASDAQ:ADMS) is sinking, while drugmaker Voyager Therapeutics Inc (NASDAQ:VYGR) and integrated circuit specialist Analog Devices, Inc. (NASDAQ:ADI) are surging higher. Here's a closer look at what shares of ADMS, VYGR, and ADI are reacting to...Read More
RIGA, Feb 20 (Reuters) - Latvian central bank governor Ilmars Rimsevics on Tuesday reaffirmed his denial of a bribery allegation made against him by the Russian owner of a local bank, and said he would not resign.The crisis unleashed on Latvia's financial sector by the allegation and a money laundering inquiry against its third biggest lender marked "a very important moment" for the coun...Read More
BUENOS AIRES, Feb 20 (Reuters) - Argentina's government posted a primary fiscal surplus of 3.9 billion pesos ($200 million) in January, up 10 percent from January 2017 when it had collected unusually high revenues due to a tax amnesty program, the Treasury Ministry said on Tuesday.President Mauricio Macri is aiming to cut the primary deficit to 3.2 percent of gross domestic product this year.Inclu...Read More
NEW YORK, Feb 20 (Reuters) - Swedish central bank Deputy Governor Martin Floden said on Tuesday a decision at the latest policy meeting to tweak guidance for the next rate hike had not been difficult.The Riksbank last week kept rates unchanged and said it expected a cycle of hikes to kick off "during the second half of the year", against earlier guidance for the middle of the year. "...Read More
This week's earnings calendar will feature Pandora Media Inc (NYSE:P), with the streaming music service slated to unveil its quarterly results after the market closes tomorrow, Feb. 21. Options traders have been blasting P stock in recent sessions, and even though the shares have a dismal history of post-earnings price action, most of the speculation has been of the bullish variety.Drilling down o...Read More
Gold under pressure on broad recovery in USD. All eyes may be now on US Treasury auctions for USD trajectory. Gold is now trading around $1343, in pre-New York session, slumped by almost 1% on a broader recovery in the US dollar amid higher US bond yields ahead of a deluge of US Treasury auctions later in the day. The US Dollar was boosted on Tuesday by higher US bond yields as US Treasury is s...Read More
(Kitco News)- Gold investors are taking profits Tuesday, as the U.S.dollar found some traction, bouncing off fresh three year lows, but one fundmanager says that gold will be the asset to own in 2018 as the risk ofstagflation in the U.S. economy rise.In a recent interview with Kitco News, Ronald-PeterStoeferle, fund manager at Incrementum AG and author of the annual In Gold WeTrust report, said he...Read More
(Kitco News) - Gold pricesended the U.S. day session sharply down and near the daily low Tuesday.Heavy profit-taking pressure from recent gains and a solid daily rally in theU.S. dollar index hit the gold and silver markets today. Higher worldgovernment bond yields also worked against the precious metals market bullstoday. April Comex gold futures were last down $24.30 an ounce at $1,331.90.March...Read More
The shares of India-based movie company Eros International (NYSE:EROS) are higher today, thanks to a new high-profile investor just ahead of earnings. Meanwhile, shares of American movie theater titan IMAX Corp (NYSE:IMAX) are rallying thanks to a huge box-office debut for "Black Panther" and a big weekend in China. What's more, both EROS and IMAX stocks could enjoy a short squeeze.Ample Fuel for...Read More
After making huge post-earnings moves in the past two quarters, volatility expectations are surging on Advance Auto Parts, Inc. (NYSE:AAP) ahead of the company's earnings release tomorrow morning. Specifically, AAP jumped 16.3% in the session after earnings last quarter, though this followed a one-day post-earnings slide of 20.3% back in August. Implied volatility (IV) data suggests the options ma...Read More
Feb 21 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 5,940.90 -0.70 NZX 50**8,098.27 -16.98DJIA25,072.43-146.95 NIKKEI**21,925.1 -224.11Nasdaq7,278.81739.35 FTSE**7,246.77 -0.89S&P 500 2,729.22 -3.00 Hang Seng** 30,873.63-241.80SPI 200 Fut 5,883.00 -22.00STI** 3,476.53 -11.35SSEC**3,199.48 14.52 KOSPI** 2,415.12 -27.70--------------------------------------------------...Read More
* Walmart drops after holiday-qtr profit misses estimates* Amazon, tech stocks help S&P* VIX eases below 20 points* Dow off 0.34 pct, S&P up 0.10 pct, Nasdaq up 0.74 pct (Updates to early afternoon)By Sruthi ShankarFeb 20 (Reuters) - A steep fall in Walmart shares put the skids on the blue-chip Dow's six-day winning streak, but gains in Amazon and technology stocks propped up the S&P 5...Read More
(Kitco News)- The days of holding on to equities and expectingdouble-digit returns are gone and one gold market analyst says that the recentcorrection in equities is a wakeup call that investors need to have a morediversified portfolio.In an interview with Kitco News, George Milling-Stanley,head of gold strategy for State Street Global Advisors, said that volatility iscreeping back into equity mar...Read More
NEW YORK, Feb 20 (Reuters) - Swedish central bank Deputy Governor Martin Floden said on Tuesday inflation data for the month of January came in "a bit disappointingly". Data released earlier on Tuesday showed lower Swedish January inflation than expected, something that could nudge the Riksbank to delay its first key rate hike since 2011. The bank last week cut its inflation forecast for...Read More