Gold prices dropped back from a 10-month high on Thursday, suffering from their largest one-day decline since August. Analysts attributed the steep loss to minutes from the Fed's January meeting released a day earlier, which sounded less dovish than investors had expected, as well as a stronger dollar and rising bond yields. Prices for the metal also sank on the back of technical trading pressure....Read More
As expected, curbs placed on B.C.'s housing market have resulted in lower new housing starts and a loss of about $325 million from property transfer taxes.Last year's budget installed tax curbs to slow down B.C.'s runaway housing market, including increases to the property transfer and school taxes on homes valued over $3 million, and a new real estate speculation tax.But the government isn't coun...Read More
The recent minutes show that the Fed is divided over future rate hikes. How should gold investors react? To Hike, or not to Hike, That Is The Question As Chairman Powell has been good at communicatingthe US central bank’s plans, the recent FOMC minutes do not contain too many surprises. In January, the Fed took investors by surprise, saying that it could be patient on interest rates. The min...Read More
The stock just pulled back to a trendline with bullish implicationsExchange operator Intercontinental Exchange Inc (NYSE:ICE) has struggled to take off so far in 2019, yet to break past its year-to-date breakeven level. However, if history is any guide, this could present an intriguing buying opportunity for ICE bulls. More specifically, Intercontinental Exchange stock is now trading within one s...Read More
Wednesday's trading session was virtually flat, as investors hesitated following the recent run-up. Will the broad stock market continue higher despite some clear short-term technical overbought conditions?The U.S. stock market indexes were mixed between 0.0% and +0.2% on Wednesday, as investors sentiment remained bullish despite some clear short-term technical overbought conditions. The S&P 5...Read More
The passage of Bill C-45 could be a signal to early investors that pot stocks are ready to pop.With Bill C-45 now in effect, it's possible that in the very near future, investors may be seeing stock market gains that will never be seen again. This is a sentiment echoed by The New York Times, which reported that when this bill passes as expected, it will "completely legalize marijuana as a consu...Read More
After 18 months of drilling at its Golden Hill exploration project in southwestern Burkina Faso, Teranga Gold (TSX: TGZ; US-OTC: TGCDF) has completed a maiden resource estimate.The plan is to build on the resource and advance the project through a preliminary economic assessment and into the feasibility stage of development.Golden Hill contains 415,000 ounces of gold in 6.40 million indicated tonn...Read More
Barsele Minerals (TSXV: BME; US-OTC: BRSLF) has tabled an updated resource estimate for its Barsele gold project in northern Sweden totaling 5.5 million indicated tonnes grading 1.81 grams gold per tonne for 324,000 oz. gold and 25.4 million inferred tonnes at 2.54 grams gold for 2.08 million oz. gold.The resource is split between pit constrained, bulk underground and selective underground mining...Read More
Home Depot and Macy's are just two of the retailers reporting earningsThe last week of February will be jam-packed with virtually everything Wall Street has to offer. There's important economic data to digest, like the latest fourth-quarter gross domestic product (GDP) estimate, and several Fed speakers will take the mic, including Fed Chair Jerome Powell, who will give his semi-annual testimony b...Read More
Existing home sales hit a three-year low in JanuaryThe Dow Jones Industrial Average (DJI) is pulling back today, down triple digits amid pressure from Johnson & Johnson (JNJ) and a round of dismal economic data. Among the onslaught of data points are existing home sales, which plunged to a three-year low in January, and the IHS Markit flash manufacturing purchasing managers index (PMI), which fe...Read More
The weekly 2/22 327.50-strike put is popular todayBiogen Inc (NASDAQ:BIIB) stock is sinking, after Stifel downgraded it to "hold" from "buy," and cut its price target by $51 to to $346. The brokerage firm expressed concern over BIIB's Alzheimer's drug after Roche Holding ended late-stage trials for similar treatments targeting beta-amyloid last month, as well as a patent review for its multiple sc...Read More
This news follows a damning Reuters report from DecemberThe shares of Johnson & Johnson (NYSE:JNJ) are down 1% at $135, at last check, after the consumer products giant said it received subpoenas from the U.S. Department of Justice and Securities Exchange Commission (SEC) in relation to litigation over alleged asbestos in its talc-based products, including its Baby Powder brand. This follows a dam...Read More
The pizza chain reported disappointing same-store sales growthThe shares of Domino's Pizza, Inc. (NYSE:DPZ) are down 9.5% at $252.13 in early trading, after the restaurant concern reported earnings and same-store sales growth that fell short of analysts' estimates. The company cited competition from both food delivery services and other pizza companies as reasons for the miss. Today, DPZ stock is...Read More
Mr. Jeffrey Pontius reportsCORVUS GOLD EXPANDS MOTHER LODE DEPOSIT TO THE EAST, WEST AND AT DEPTH BELOW PIT BOTTOM WITH THICK OXIDE MINERALIZATION TO DEPTHCorvus Gold Inc. has received results from eight holes targeting the eastern, western and below-pit-bottom resource expansion potential at the Mother Lode deposit in Nevada (please see attached table).Results continue to show high potential for...Read More
* AMCU extends Sibanye gold strike to platinum* AngloGold, Lonmin, Harmony, Amplats served union strike notices* Lonmin shares down (Adds other firms, Sibanye comment, detail)Workers led by South Africa's Association of Mineworkers and Construction Union (AMCU) plan to down tools at gold and platinum mines next week in support of colleagues at Sibanye-Stillwater who are striking over wages and job...Read More
FL stock is signaling a positive start todayAhead of its fourth-quarter earnings report, due before the market opens next Friday, March 1, Foot Locker, Inc. (NYSE:FL) unveiled its 2019 capital allocation plans, which include a 10% quarterly dividend hike and a $1.2 billion share buyback plan. In reaction, FL is trading up 2.3% ahead of the bell -- set to open in territory not seen since May 2017,...Read More
Gold miner Newmont Mining Corp beat analysts' estimates for quarterly profit on Thursday, boosted by higher gold production in its Colorado and Ghana mines and lower costs.The company is set to overtake Barrick Gold Corp as the world's largest gold producer following its acquisition of rival Goldcorp Inc, which is expected to close in the second quarter.Newmont's gold production rose nearly 8 perc...Read More
We're seeing mixed messages around EA's new "Anthem" gameIt's been an extremely volatile stretch for the shares of video game maker Electronic Arts Inc. (NASDAQ:EA), as they made a sharp rebound from their post-earnings lows near $80 earlier this month thanks to the exceptional reception around its "Apex Legends" game. By the numbers, the equity's 30-day historical volatility has moved up to 88.4%...Read More
Williamson is considered the biggest college star todayThe shares of Nike Inc (NYSE:NKE) are under pressure this morning, down 1.6% in electronic trading in the wake of a sneaker malfunction for the ages. Zion Williamson, the star freshman for Duke's basketball team and likely number one pick in the upcoming NBA draft, suffered a knee injury yesterday in a rivalry game against North Carolina, aft...Read More
Traders will also continue to monitor U.S.-China trade talksDow Jones Industrial Average (DJI) futures are slightly lower today, as Wall Street begins to digest an onslaught of economic data. So far, traders are reacting to the latest data on durable goods orders, with orders for core capital goods unexpectedly falling in December. In addition, the four-week moving average of weekly jobless claims...Read More