Such a high hurdle indeed: Base Camp 1377. For as we stated a week ago, each time gold as if a magnet pulls in the prices of the 1360s, 'tis is repelled by the pushing forces emanating down from the opposing iconic magnet at 1377, ostensibly gold's highest hurdle in history:We've already seen gold having wasted little time in taking out last year's high (1362) by trading up to 1365 on 25 January....Read More
Here's something we don't see every day; the Dow Jones correcting over 10% in just nine trading days (January 26th to February 8th), then snapping back 5% in the next five. And the violence of the 10% decline, seen in Mr Bear's report card below is remarkable. From February 2-8th the NYSE saw seven extreme market events out of a possible ten; three NYSE 70% A-D Days and four Dow Jones 2% days. A f...Read More
"Very sad that the FBI missed all of the many signals sent out by the Florida school shooter. This is not acceptable. They are spending too much time trying to prove Russian collusion"Continue...Read More
Like his Father before him, Alexander Soros is becoming a financial force in US politics Continue...Read More
"A Chinese security official grabbed Kelly, and Kelly shoved the man's hand off of his body. Then a U.S. Secret Service agent grabbed the Chinese security official and tackled him to the ground," Continue...Read More
DUBAI, Feb 18 (Reuters) - Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy. INTERNATIONAL/REGIONAL* GLOBAL MARKETS-World stocks post best week in 2 years, dollar climbs * MIDEAST STOCKS-Saudi far outperforms Gulf, rate hopes boost Egypt * Oil gains in weekly recovery on equities rebound, wea...Read More
By David MillikenLONDON, Feb 18 (Reuters) - The British government should cut the interest rate it charges on loans to English students, and statisticians should review why the cost of hefty write-offs barely figures in official borrowing data, a parliamentary committee said on Sunday.University tuition fees in England are high compared with elsewhere in Europe at around 9,000 pounds ($12,640) a y...Read More
The numbers: Construction on new homes in the U.S., as measured by housing starts, jumped almost 10% in January to an annual rate of 1.33 million. That's the second highest level since the recession following the financial crisis and it easily exceeded the 1.24 million forecast of economists polled by MarketWatch. Permits to build new homes also hit a 10 1/2 -year high, rising 7.4% to an annual...Read More
MADRID, Feb 17 (Reuters) - Failed Spanish lender Banco Popular had losses of 13.6 billion euros ($16.9 billion) last year when it was rescued by European authorities and taken over by bigger rival Banco Santander , it said in a regulatory notice late on Friday.The news will likely add to a controversy between investors who lost money in the rescue and authorities and Santander who say the sale of...Read More
Adam HamiltonArchivesFeb 16, 2018 The gold miners' stocks weathered the recent stock-market plunge really well. As evident in their leading GDX ETF, they were already beaten down before stock markets started falling. The resulting explosion of fear bled into GDX, forcing it even lower. Nevertheless, no major technical damage was done. GDX remained well within its consolidation trend channel and is...Read More
Here Are 4 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average and S&P 500 have risen for six straight days. The Dow posted its best week since November 2016. The Dow still remains more than 1,300 points below its all-time high reached on Jan. 26. For the week the Dow jumped 4.25%, the S&P 500 gained 4.30% and the Nasdaq climbed 5.31%. Wall Street Overvie...Read More
S&P 500 ends higher after paring gains on Russia indictmentGreenback rallies from three-year low; crude oil advancesAllianz Global Investors U.S. Investment Strategist Mona Mahajan discusses market volatility.U.S. stocks held onto gains to cap their best week in five years while Treasuries climbed and the dollar broke a five-day losing streak.The S&P 500 was slightly higher at the close after...Read More
U.S. markets looked set to make gains for the sixth day on Friday, Feb. 16, on a stream of corporate earnings, including Coca-Cola Co., Kraft Heinz Co. and Campbell Soup Co., and as traders prepared for a long Presidents Day weekend. The Dow Jones Industrial Average had an implied open of 30 points to the upside at 7:39 am Eastern time. S&P 500 futures were 0.19% up and the Nasdaq looked set...Read More
I’m liking what I see from the crypto markets lately.It may sound foolish or dangerous to say this, but hear me out.If you look at the myriad attacks on crypto over the last month, the return to November 2017 pricing and the recent settling and smoothing of the market, I can understand your skepticism.Look, I get it. Recently, there have been a lot of negative forces beating down the crypto...Read More
That was quick!Late last week, I said most investors were too scared to buy the dip. Boy, was I wrong...Traders are gobbling up stocks, pushing the major averages higher for five days in a row. Eager buyers have all but erased the market's double-digit pullback. As of this morning, the Dow, S&P 500, and Nasdaq Composite are all back above their respective 50-day moving averages.Futures are up...Read More
Earlier this week, I saw a politically motivated quote in the paper that just about made me lose my cool.Not only was it incredibly misleading, but it also disparaged one of the programs that I've been encouraging retirees to take advantage of for years now!Now, when it comes to politics and the different opinions that everyone is entitled to, I try to be understanding. Even when I disagree with a...Read More
Wolf Richter (WolfStreet.com) breaks down the volatile trading action over the past couple of weeks and analyzes the latest US economic data.Read More
Click Here to Listen to the InterviewBill Fleckenstein is the President of Fleckenstein Capital and writes a popular column 'Contrarian Chronicles' for MSN Money as well as the daily Market Rap column for his website: Fleckenstein Capital. Bill has appeared at one time or another in virtually all financial media including Bloomberg, CNBC, The New York Times, MSN, Marketwatch, Barron's and more. Bi...Read More
"The huge volatility of the price of cryptocurrencies - with respect to either traditional currencies or to a basket of goods and services - has made use of cryptocurrencies Continue...Read More
There are indications Crude Oil prices are going lower.There are also indications that it’s going higher. Which narrative do youbelieve? OilBears point to what they believe is over-supply caused by soaring USproduction, mostly from shale fields. With production increasing over +20% inless than two years, and drill rigs on the rise, the US now produces about asmuch Oil as the industry leaders...Read More