Nov 4 (Reuters) - The S&P 500 and the Nasdaq indexes hit a record high on Thursday, propped up by a slew of stellar earnings reports and as investors shrugged off the Federal Reserve's first steps to begin paring its pandemic-era support.Shares of Qualcomm Inc (QCOM.O) jumped 12.6% after the chipmaker forecast better-than-expected profit and revenue for its current quarter on soaring demand...Read More
WASHINGTON, Nov 4 (Reuters) - Jared Kushner’s global investment firm, Affinity Partners, plans to add two senior partners and is seeking to raise several billion dollars as it begins to ramp up its activities, a person familiar with the plan said on Thursday.Kushner, who was a top adviser to former President Donald Trump but has stepped away from politics for the time being, is expected to b...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) - Great Panther Mining (TSX:GPR) (NYSEA: GPL) reported that for Q3 2021, the company recorded a net loss of$18.0 million compared with net income of $18.6 million for Q3 2020. The company said that lower...Read More
Nov 4 (Reuters) - The world's top central banks are pushing back in unison on the idea that higher interest rates will be needed to fight a run of high inflation and have now bound their monetary policies tight to the hope that the world's tangled supply chains are on the verge of repair.The Bank of England on Thursday joined the Federal Reserve and the European Central Bank in pinning a dovish po...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) - Hecla Mining Company(NYSE:HL) announced Thursday that in Q3 2021, net loss applicable to commonshareholders was $1.1 million, or 0.2 cent per share, compared to net income of$15.1 million, or 2.9 cents...Read More
NEW YORK, Nov 4 (Reuters) - Preparatory discussions on a possible IMF financing program for Lebanon have started, the International Monetary Fund said on Thursday."Preparatory technical discussions have started," said IMF spokesman Gerry Rice in a scheduled press conference."Clearly, strong policies and reforms are needed to address the really unprecedented economic and social crisis facing Lebano...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) - Equinox Gold (TSX: EQX, NYSEAmerican: EQX) reported today that the company produced 139,758 ounces of gold inQ3 2021, an increase of 12% over 124,867 ounces produce in Q3 2020.The company said itrecogn...Read More
Nov 4 (Reuters) - Online broker TradeStation Group said on Thursday it would go public through a merger with a blank-check firm in a deal that values the combined company at about $1.43 billion.The company intends to use the funds raised to increase its marketing spend in a bid to acquire customers and hire employees to lead the research and development of new products.TradeStation is a financial...Read More
NEW YORK Nov 4 (Reuters) - The dollar rebounded on Thursday from a dip after the U.S. Federal Reserve repeated it saw high inflation as transitory, while the British pound dropped sharply after the Bank of England defied market expectations and kept rates on hold.The Fed announced on Wednesday a $15 billion monthly cut to its $120 billion in monthly purchases of Treasuries and mortgage-backed secu...Read More
Mr. Michael HudsonreportsHANNAN RADIOMETRIC DATING CONFIRMS MIOCENE PORPHYRY BELT AT THE PREVISTO COPPER-GOLD PROJECT, PERU Hannan Metals Ltd. has confirmed that uranium-lead zircon dating on four porphyry intrusive centres within an area of 140 kilometres by 50 kilometres has defined a previously unrecognized Miocene metallogenic belt associated with significant BLEG (bulk leach extractable gold)...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) - Kirkland Lake Gold (TSX:KL)(NYSE:KL) today announced that the company’s net earnings totalled a record$254.9 million ($0.96 per share) in Q3 2021, a 26% increase from $202.0 million($0.73 per sha...Read More
BRASILIA, Nov 4 (Reuters) - Brazil is set to hold its largest-ever cellular auction on Thursday, with local units of America Movil, Telefonica and Telecom Italia vying with a dozen other firms for broadcast spectrum dedicated to fifth-generation (5G) wireless technology.Telecoms regulator Anatel, which will start unsealing bids at 10 a.m. local time (1300 GMT), expects to get commitments from the...Read More
WASHINGTON, Nov 4 (Reuters) - U.S. unit labor costs surged in the third quarter, while productivity declined at its sharpest pace since 1981, adding to signs that high inflation could last for a while.The Labor Department said on Thursday that unit labor costs, the price of labor per single unit of output, increased at an 8.3% annualized rate last quarter after rising at a 1.1% pace in the April-J...Read More
(Updates after flows to Germany resume)LONDON, Nov 4 (Reuters) - Gas flows from Russia to Germany via the Yamal pipeline started up again on Thursday afternoon, data from the pipeline's German operator showed, sending European gas prices lower.Russian gas has not flowed to Germany via the pipeline since Saturday. Instead, supplies were being sent from Germany to Poland in a reversal that has sent...Read More
WASHINGTON (Reuters) - The U.S. trade deficit jumped to a record high in September as exports slumped, government data showed on Thursday.The Commerce Department said that the trade gap surged 11.2% to a record $80.9 billion. Economists polled by Reuters had forecast an $80.5 billion deficit.Exports tumbled 3.0% to $207.6 billion in September. Goods exports plunged 4.7% to $142.7 billion. The decl...Read More
LONDON, Nov 4 (Reuters) - A great central bank exit from the extraordinary stimulus unleashed to keep economies afloat during the COVID-19 pandemic is underway, with the United States and Australia this week moving away from hefty policy support.But policymakers have also pushed back against investor expectations for a slew of interest rate rises, as they wait to see whether inflation remains stic...Read More
TOKYO, Nov 4 (Reuters) - Nintendo Co Ltd (7974.T) on Thursday cut its full year Switch sales forecast by 6% and said it is struggling to meet demand in the key year-end shopping season as chip shortages disrupt production of the hit device.While many companies have warned of the risks posed by the global semiconductor shortage, most have stopped short of cutting targets. Toyota Motor Corp (7203...Read More
Mr. Marcel Robillard reportsPUMA EXPLORATION DISCOVERS NEW VISIBLE GOLD-BEARING ZONE AT WILLIAMS BROOK GOLD PROPERTY Puma Exploration Inc.'s continuing surface trenching and stripping programs have uncovered a new 100-metre-long high-density quartz veining zone with visible gold (VG) at its Williams Brook gold project located in New Brunswick, an emerging new gold district of Atlantic, Canada. A l...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) - First Majestic Silver Corp's plan to stockpile its silverdidn't pan out as expected after the company reported a 1% drop in revenues inthe third quarter.Thursday, ahead of the North American equity ope...Read More
Wednesday was FED Day or themeeting of the three blind mice. Either way, they once again showed howclueless they are. The FED has changed their transitory call on inflation to:it will be transitory. Inflation is not transitory, and it is hotter than theywill admitBefore Wednesday's FED Decision,gold, silver and platinum were getting clobbered before a late-day rally cutlosses in gold and platinum....Read More