By: Gary SavageI want to add a quick note on the jobs report. Today's number is important in that if the government tries to fake a good number the market will probably lose all confidence in government statistics and likely react badly. There is no scenario where the number can be good as we have already been feeling the effects of the virus scare for a couple of months. A good number will be...Read More
By: Ira EpsteinRead More
Mar 08, 2020 Guest(s): Ian Ball CEO, Abitibi Royalties Despite warnings of gold being harder and harder to replace with new discoveries, Ian Ball, CEO and president of Abitibi Royalties (TSX-V:RZZ), said that innovation and pricing signals will find a way to keep the markets well supplied with the precious metal. Ball spoke to Kitco at the PDAC conference in Toronto. "I don't think we are at pea...Read More
Mar 09, 2020 Guest(s): Adrian Day The Federal Reserve's inter-meeting emergency 50-basis-point interest rate cut last week was a panic move and will continue to support gold prices, said Adrian Day, CEO of Adrian Day Asset Management. "You can't fight a virus with a rate cut," Day told Kitco News, on the sideline of PDAC 2020, the world's largest mining conference. "I think the Fed has complete...Read More
Another tumultuous week inequity and interest rate markets has helped fuel a big pop in safe-haven demandfor gold and silver. The major market moving eventwas, of course, the Federal Reserve’s emergency rate cut on Tuesday. The Fedslashed its overnight funds rate by 50 basis points. But even before the Fedacted, the bond market had already forced its hand as yields on the 10-yearTreasury not...Read More
Yesterday, the Fed cut interest rates by 50 basis points. Not during a regular monetary policy meeting, but in a surprising move. But what are the implications for the gold market specifically?Fed Cuts Interest Rates in Emergency MoveLast week, I wrote that the spread of the new coronavirus to Europe and the inversion of the yield curve make “the Fed more likely to step in and cut the federa...Read More
LONDON, 6 March 2020 - First-time gold investors are being targeted by scammers, but there are simple signs to beware says BullionVault, quoted alongside other experts today by leading US finance news-site CNBC."The price of gold spiked again this week but scammers are also capitalizing on the surge," warns CNBC.One scam, says BullionVault's Adrian Ash, is over-charging unwitting investors for "ra...Read More
By: Ira EpsteinGold is fighting a battle. Momentum is slightly up, but needs to get above $1,654.30 swing line..Read More
Near zero bond yields globally will ensure that sharp corrections in gold will be used to invest for the short term as long as term. Guarded optimism in silver at the moment. One needs to remain on the sidelines till Monday. Clear picture of the spread of corona virus in USA and India will be known by end of next week. USA and India are two big consumers of goods and services. A big global slowd...Read More
All three indexes tanked by of 3% or moreStocks took a massive hit Thursday, unable to capitalize on yesterday's furious Super Tuesday rally. Wall Street continues to be gripped by coronavirus fears, as countries around the world extend quarantine and travel restrictions. The Dow lost over 969 points by the close, erasing nearly all of yesterday'sgains. The S&P 500 and Nasdaq Composite took massiv...Read More
Z is outperforming the broadmarketReal estate app Zillow Group (NASDAQ:Z) was testing all-time high territory last week, and has just pulled back to around the $50-$52 level. Now 19% higher year-to-date, the tech name is outperforming the broader market. With this foundation in place, now looks like an opportune time for bulls to circle in. Digging deeper, the majority of analysts still have tepi...Read More
Options traders are picking up TDOC calls at an elevated clip today Online healthcare platform Teladoc Health Inc (NYSE:TDOC), has been joining a good chunk of its sector peers in bucking the broadmarket trend in recent weeks, with coronavirus fears actually boding well for the tech name as more patients anxious over the outbreak turn to remote health services over traditional office visits. In fa...Read More
COVID-19 fears continue to drive stocks lowerThe Dow Jones Industrial Average (DJI) is extending its losses this afternoon, down almost 600 points as Wall Street fails to adjust to the potential long-term outcome of the global spread of COVID-19. With over 94,000 cases now reported by the World Health Organization (WHO), safe haven assets are looking attractive, sending April-dated gold futuresup...Read More
The retailer's fourth-quarter earnings exceeded analysts' expectations Shares of Burlington Stores Inc (NYSE:BURL) are up 1.1% at $221.12 this morning after announcing fourth-quarter profits of $3.25 per share, which was right on the money for Wall Street's estimations, and a 42-cent increase from the same quarter last year. And while the retail sector continues to struggle amidst the growing coro...Read More
AEO's 50-day moving average has kept a lid on any rallies since NovemberAmerican Eagle Outfitters (NYSE:AEO) stock was looking to take a much needed climb today after a recent two-year low of $12.24 on Monday. Boosted by the demand for Aerie -- its sub-brand -- the retail company reported adjusted fourth-quarter profits of 37 cents per share, just over Wall Street's expected 36 cents per share. Ho...Read More
Broadcom, Adobe, Gap, and Ulta will step into the earnings confessionalThe earnings calendar is starting to thin out, but next week still has a lot for investors to look forward to. There's the latest inflation data to unpack, as well as the University of Michigan consumer sentiment index at the end of the week. Of the companies that do report earnings, Apple supplier Broadcom (AVGO), Adobe Sys...Read More
Virgin Galactic's CEO will take a 20% pay cut, while the executive team's wages will be reduced by 15%Buzzy space-exploration stock Virgin Galactic Holdings Inc (NYSE:SPCE) is getting hit today after MarketWatch reported that its CEO Shai Weiss will take a 20% pay cut. Meanwhile, the rest of the executive team's wages will be reduced by 15%, in order to field some of the $113 billion in losses the...Read More
Dow futures are signalling a roughly 600 point drop this morning It appears as if yesterday's Super Tuesday surge will be short-lived, with stock futures signaling significant drops this morning. Dow Jones Industrial Average (DJI) futures are eyeing a roughly 600 point tumble, paring a chunk of yesterday's massive quadruple-digit gains, whilethe S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) a...Read More
Bob Moriarty ArchivesMar 5, 2020What if you gave a party and no one came? The Fed found themselves in that embarrassing position on Tuesday as they dumped a .5% drop in the Fed Funds rate onto a startled market. The market wasn’t startled at the interest rate decline, the market was startled because when the Fed spiked the punch one more time no one would drink the Kool Aid.I’ve said f...Read More
Craig Hemke, TF MetalsThough we just wrote about this last week, Tuesday's "emergency" fed funds rate cut demands that we write this update. Why? Because the bond market action in the hours since foreshadows even more cuts later this month, and this will have direct implications for gold, silver, and the U.S. dollar.So let's begin with last week's link. If you missed it, that's OK. Here's your c...Read More