(Reuters) - The S&P 500 and the Nasdaq indexes looked set to drop from record highs on Friday, as results from mega-cap firms Apple and Amazon.com reignited concerns of labor and supply shortages that have been at the forefront of this quarterly earnings season.Market participants have been closely watching how corporate America navigates through these challenges along with concerns about rising i...Read More
KINSHASA, Oct 27 (Reuters) - The International Monetary Fund on Wednesday revised upward this year's economic growth forecast for the Democratic Republic of Congo to 5.4% due largely to higher-than-expected mining production.The IMF said in statement that it had also reached a staff-level agreement with Congo's government on the first review of a three-year $1.5 billion extended credit facility th...Read More
(Recasts with revised windfall levy rate, adds details on budget allocation)KUALA LUMPUR, Oct 29 (Reuters) - Malaysia has agreed to raise the threshold for its palm oil windfall profit levy effective next year and will set the tax rate at 3% nationwide, the finance minister said on Friday.The threshold price for companies in Peninsular Malaysia will be increased to 3,000 ringgit ($725) from 2,500...Read More
(Kitco News) Gold dropped after the U.S. annual core PCE price index came in at 3.6% in September versus the consensus forecast of 3.7%. The index has been at 3.6% since June.On a monthly basis, the core PCE price index was up 0.2% as expected in September, according to the data published by the U.S. Department of Commerce on Friday.The core inflation strips out volatile food and energy prices and...Read More
LONDON (Reuters) - Amazon and Apple earnings curbed enthusiasm for global equities on Friday, though the euro held near one-month highs on euro zone rate rise hopes.Amazon.com reported a slump in profit late on Thursday that it expects will continue through the holiday quarter, as higher pay to attract workers and other operational disruptions diminish the company's windfall from online shopping.S...Read More
MEXICO CITY, Oct 29 (Reuters) - Mexico's economy shrank 0.2 percent in the third quarter compared with the previous three-month period, the first quarterly decline since recovery from the pandemic began, preliminary data from national statistics agency INEGI showed on Friday.The seasonally-adjusted contraction in gross domestic product (GDP) compared with the consensus forecast from a Reuters poll...Read More
Oct 29 (Reuters) - The U.S. auto sector's production slump this year is more than a big minus for Detroit - it's a major drag on the entire economy.Gross domestic product growth slowed to the weakest pace in more than a year during the third quarter at just 2% annualized. That was less than a third of the growth rate in the preceding quarter. read moreWhile the Delta variant of COVID-19 played a...Read More
FRANKFURT/BRUSSELS, Oct 29 (Reuters) - The euro zone economy continued to boom over the summer as activity rebounded after coronavirus lockdowns but inflation is also blowing past expectations, leaving the European Central Bank with a growing policy headache.Growth has soared as consumers return to stores and venues but many businesses have been unable to keep up with demand, putting further press...Read More
ROME, Oct 29 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday said she still sees inflation as a temporary result of severe supply chain bottlenecks, and expects price increases to normalize during 2022 as people get back to work and demand shifts back to services."As demand shifts back to services and supply has a chance to adjust, I believe that price increases will normalize and we'll...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Gold and silver prices are moderatelylower in early U.S. trading Friday, weighed down by rising U.S. Treasury yieldsand a rebound in the U.S. dollar index on this day. December gold was last down$10.1...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Bitcoin-U.S. dollar are higherin early U.S. trading Friday. Bulls are keeping alive a price uptrend in placeon the daily bar chart. They have to defend this week's low, as a drop belowthat key chart su...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - Glencore (GLEN:LSE) upgraded its profit forecast for the currentyear and said it expects underlying profit (adjusted EBIT) to exceed itsUS$2.2bn-US$3.2bn a year long-term guidance range. The firm said...Read More
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here! (Kitco News) - The latest Eurozone CPI reading will not do anything to take thepressure off ECB President Lagarde and her colleagues. The reading came inat 4.1% year on year vs analyst expectations of 3.7% (prev 3.4%...Read More
Jack ChanPosted Oct 28, 2021Gold sector as represented by $HUI is now on amajor SELL signal.Long-term signals can last for months and are more suitable for investors.Short-term is on BUY signal.Short-term signals can last for days and weeks and are more suitable for traders. Speculation is in bear market values, but now at level of previous tradable bottom.Speculation in bear market values. Our ra...Read More
Armstrong Economics, Released o 10/28/21Truckers should be treated with dignity rather than Continue... Martin Armstrong: Stop treating truckers like criminals who are destroying the climate! added by Herman James on 10/28/2021View all posts by Herman James ?+'Read More
Stansberry Research, Released on 10/29/21Silver supplies are dwindling and consumption is expanding for the precious metal, says Keith Neumeyer, First Majestic Silver Corp. President and CEO. He explains why this narrative deserves to be highlighted further for investors, and criticizes the CFTC's handling earlier this year based on the fluctuation of silver trading."The mining sector is such a st...Read More
Doug Casey's Take, Released on 10/29/21Human colony collapse is possible and, it seems, likely. In today's Q&A episode, we explain how easily it can happen. Plus, Carbon hysteria and much more. Doug's Recent Article on Carbon Streaming Companies and Carbon Hysteria: https://internationalman.com/articles...?>>?Join our email list to get Special reports and updates: https://dougcasey.substack.com/ab...Read More
Rebel Capitalist, Released on 10/29/21George Edward Gammon is an American real estate investor and entrepreneur. He produces and stars in a popular YouTube Channel. Prior to 2012, George started, owned, and operated multiple businesses ranging from conventions to advertising. The last growing to 24 million in annual revenues and over 100 employees. After 12 years as a successful entrepreneur, at t...Read More
Wall Street Silver, Released on 10/29/21Jeff Clark, the Gold Advisor, joins us to share part of his presentation from the New Orleans Investment Conference. Jeff shares his top 3 Silver exploration stocks and 1 gold exploration stock. All are exploration stage, high risk and high potential rewards. If that is your goal, this video is for you.Jeff Clark is editor and lead writer of BIG GOLD, the mo...Read More
Kitco News, Released on 10/29/21Jack Dorsey, CEO of Twitter, recently Tweeted that "Hyperinflation is going to change everything. It's happening."Steve Hanke, professor of applied economics at Johns Hopkins University, responds. 0:00 - Hyperinflation8:03 - Inflation in the U.S.13:16 - 300,000,000% monthly inflation18:15 - Cryptocurrency board Steve Hanke is an American applied economist at the Joh...Read More