* Sibanye in talks to cut almost 6,000 jobs* Plans to restructure struggling gold operations* Shares up, outpacing mining index (Adds mines minister, analyst comment, shares, background)Sibanye-Stillwater could cut nearly 6,000 jobs in a potential restructuring of the company's gold mining operations following losses at some of its mines last year.The precious metal miner said it had entered into...Read More
Both stocks are pacing for sharp losses todayWall Street is punishing shares of Sierra Wireless, Inc. (NASDAQ:SWIR) and NetApp Inc. (NASDAQ:NTAP) before the open, with the stocks set to open down 22% and 8.4%, respectively. Let's dig into the earnings results and sentiment data on SWIR and NTAP below. Sierra Wireless missed on both earnings per share and revenue for the fourth quarter, and also de...Read More
XOM has room for more bullish analyst attentionThe shares of Exxon Mobil Corporation (NYSE:XOM) are up 0.3% in electronic trading, after Macquarie raised its outlook on the energy name by two levels to "outperform" from "underperform," while setting a price target of $83. The analyst in coverage likes the company's multiple liquefied natural gas (LNG) projects and strong balance sheet, and notes X...Read More
The big bank has created a digital token called the "JPM Coin"Despite CEO Jamie Dimon being a vocal critic of bitcoin, JPMorgan Chase & Co. (NYSE:JPM) said it's created a digital token, the JPM Coin -- the first among big banks. According to CNBC, early trials for the cryptocurrency are set to begin later this year, and will be used in lieu of international payments to large corporate clients, whi...Read More
Coca-Cola and Cisco Systems reported earnings todayDow Jones Industrial Average (DJI) futures were initially higher this morning, amid continuing optimism over a U.S.-China trade deal. President Donald Trump yesterday said talks were "going along very well." However, a lackluster report on December retail sales -- which suffered their worstdrop since 2009 -- has takenthe wind out of the bulls' sai...Read More
Will fiscals stimulus run out by 2020?What is the biggest threat within the US?What does it all mean for the gold market?114 months. So long is the current US economic expansion. It officially started in June 2009, and if the country avoids recession until July 2019, the uptrend in the business cycle will exceed 120 months, becoming the longest expansion since at least 1857, when the NBER began re...Read More
Sierra Metals (TSX: SMT) is one step closer to expanding its Yauricocha mine in Peru.This week, the miner reported the approval of the Environmental Impact Assessment Study for the expansion of the tailings deposition facility at the polymetallic mine.The positive answer follows an initial negative issued in December 2016 by Peru's National Environmental Certification Service to Sierra's subsidia...Read More
A new lithium technology could change the face of lithium production forever.Andrew Carnegie didn't invent the Bessemer converter, but used it to amass an incredible fortune producing steel at lower costs. What one simple machine can do for increasing production and lowering costs is staggering (think of the cotton gin).The lithium industry has been plagued with inefficiency and expensive producti...Read More
Elliott wave view in Gold suggests that rally from August 16, 2018 low ($1160.37) is unfolding as an Elliott Wave Impulse structure. Rally to $1326.53 ended wave (3). Wave (4) pullback is in progress as a double three Elliott Wave structure. Down from $1326.53, wave W ended at $1302.4 and wave X ended at $1318.17. Internal of wave W takes the form of a zigzag Elliott Wave structure. Wave...Read More
* GRAPHIC-2019 asset returns:* Market watching U.S.-China trade talks (Updates with closing prices)By Pratima DesaiLONDON, Feb 14 (Reuters) - Copper prices climbed on Thursdaytowards two-month highs hit last week as import data from topconsumer China suggested robust demand, while markets awaitedthe outcome of high-level Sino-U.S. trade talks in Beijing.Benchmark copper on the London Metal Exchang...Read More
Legendary gold mine investor and founder of Franco-Nevada Corp., Pierre Lassonde, appears on the radio program this week.He discusses the current state of the gold mining industry and whether or not he thinks now is a good time to increase gold share holdings.Michael Oliver shares his analytical view of the gold markets.Legendary gold mine investor Pierre Lassonde appears for the first time on the...Read More
Three manias in a generation (2000, 2008, 2019) all end badly.Current price earnings ratio (30.02) is higher than 1929.Gold priced in yen near all-time high.Follow David McAlvany and get email alertsRead More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average rose Wednesday amid optimism that U.S. and Chinese negotiators could reach a trade deal before another round of tariffs kicks in.Activision Blizzard Inc. (ATVI) rose 7% after the video game maker unveiled a stock buyback and cost-cutting program that offset a weaker-than-expected profit outlook.J...Read More
By: Dave KranzlerThe retail sales report for December - delayed because of the Government shut-down - was released this morning. It showed the largest monthly drop since September 2009. Online sales plunged 3.9%, the steepest drop since November 2008. Not surprisingly, sporting goods/hobby/musical instruments/books plunged 4.9%. This is evidence that the average household has been forced to cut...Read More
Since the invention of banking, the global financial system has become increasingly centralized. In the modern system, central banks now control everything from interest rates to the issuance of currency, while government regulators, corporations, and intergovernmental organizations wield unparalleled influence at the top of this crucial food chain. There is no doubt that this centralization...Read More
By: Richard (Rick) Mills, Ahead of the herd What were you doing on August 1, 2018? Likely it was just like any other day, with your thoughts on work, your spouse, your kids, money, what to make for dinner, etc. What you should have been thinking about though, was the Earth. August 1 was Earth Overshoot Day. What does that mean? Well, Earth Overshoot Day is the day of the year when humanity h...Read More
Stocks had trouble staying aloft Tuesday after rocketing higher a day earlier. Although the Dow finished with a 117-point gain, it was up by more than 200 in the early going and probably would have finished in the red if sellers had been less timid. There were other signs of heavy distribution. For one, AAPL's sly handlers opened the stock on the high of the day, trapping bulls before pulling th...Read More
Question: Plunger you keep insisting that we are in a bear market. Really? The averages have done nothing but go straight up since December 24th. At this rate we will be at new highs within a month. I thought prices go down in a bear market! That's not happening.Answer: The most reliable method of forecasting the eventual outcome of the market over the past 118 years has been Dow's Theo...Read More
Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More
Grant's Interest Rate Observer Founder and Editor Jim Grant and CNBC's Rick Santelli discuss the bond market in Europe.James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: The Crash That Cured Itself. Grant's television appearanc...Read More