Netflix and a handful of Dow stocks moved on earningsIt was another roller-coaster week on Wall Street, as traders digested a slew of big-cap earnings reports and the latest economic data. September retail sales spooked investors early in the week, and another spate of lackluster housing data didn't help. In addition, the minutes from the Fed's September meeting took traders on a wild ride mid-wee...Read More
Long put options offer a way to bet bearishly with limited riskA put option is like a call in that it is a type of derivative that relies on the movement of the underlying stock to make a profit. Unlike a call option, a put gains value when the underlying stock moves lower. Buying a put is a bearish bet that gives the trader the right, but not the obligation, to sell the underlying shares for a sp...Read More
WASHINGTON (Reuters) - A U.S. regulatory council announced on Wednesday it had removed the systemically risky label from Prudential Financial (PRU.N), freeing the insurance company from more rigorous oversight by the Federal Reserve.The decision by the Financial Stability Oversight Council could cut regulatory costs at Prudential, which no longer will have to meet enhanced capital and liquidity st...Read More
WASHINGTON (Reuters) - President Donald Trump came under criticism on Friday from U.S. lawmakers and press organizations after praising a Montana congressman who body-slammed a reporter last year.Trump’s praise for Greg Gianforte, a Republican member of the U.S. House of Representatives who pleaded guilty to a misdemeanor assault charge for the incident involving the reporter, coincides with...Read More
CHICAGO (Reuters) - A sharp jump in U.S. farmers seeking operating and equipment loans of at least $1 million fueled a spike in agricultural lending in the third quarter of 2018, as trade worries added to economic strain in the farm sector, the Federal Reserve Bank of Kansas City said on Friday.The increase in the size of loans also boosted the share of agricultural lending at large banks, adding...Read More
ANKARA (Reuters) - Turkish prosecutors investigating the disappearance of Saudi journalist Jamal Khashoggi questioned Turkish employees of the Saudi consulate in Istanbul on Friday, widening the hunt for evidence in a case straining some of Riyadh’s oldest alliances.Khashoggi went missing more than two weeks ago after entering the consulate to obtain documents in relation to a forthcoming ma...Read More
Gold futures fell Friday but secured a weekly advance, their third in a row, as a leading dollar index softened and stocks put in a mixed session. Investors kept tabs on budget tensions in Europe, which could have consequences for broader market sentiment. December gold GCZ8, -0.01% fell $1, or 0.1%, to $1,229.10 an ounce after spending time in positive and negative territory. The ICE U.S. Dollar...Read More
Gold futures fell Friday but secured a weekly advance, their third in a row, as a leading dollar index softened and stocks put in a mixed session. Investors kept tabs on budget tensions in Europe, which could have consequences for broader market sentiment. December gold GCZ8, +0.06% fell $1, or 0.1%, to $1,229.10 an ounce after spending time in positive and negative territory. The ICE U.S. Dollar...Read More
Incyte Corporation reported upbeat mid-stage results for its lung cancer treatmentEarlier today, Incyte Corporation (NASDAQ:INCY) reported upbeat results from its mid-stage study of Capmatinib, the company's lung cancer treatment sponsored by Novartis (NOVN). Incyte Corporation says the successful development could net over $500 million in future milestones. INCY stock is up 3.4% to trade at $66....Read More
NEW YORK (Reuters) - The Bank of England is preparing Britain’s financial system for the consequences of a “disorderly, cliff-edge” Brexit, however unlikely that may be, Governor Mark Carney said on Friday.With little more than five months to go until Britain leaves the European Union, London and Brussels have yet to finalize the terms of their divorce, leaving open the possibili...Read More
LONDON (Reuters) - (This October 18 story has been refiled to correct paragraphs 2 and 7 to say the report will be finalised, not published.)A report on risks to the stability of derivatives markets posed by Brexit could lead to regulatory intervention, European Commission officials said on Thursday, dismissing warnings they could tumble off a cliff if Britain leaves the EU with no deal.EU financi...Read More
MACON, Ga. (Reuters) - U.S. Federal Reserve officials are monitoring the case of missing Saudi journalist Jamal Khashoggi and the possibility that any sanctions against Saudi Arabia could disrupt oil markets, Atlanta Fed President Raphael Bostic said on Friday.Asked about the risks to the U.S. economic outlook at an event in Macon, Georgia, Bostic mentioned geopolitical risks generally, the Brexit...Read More
MEXICO CITY (Reuters) - Mexican Foreign Minister Luis Videgaray said on Friday that the country will face the challenge of responding to a migrant caravan that U.S. President Donald Trump has insisted must be halted before it reaches the U.S. border.Videgaray was speaking during a joint press conference in Mexico City with U.S. Secretary of State Mike Pompeo, who thanked Mexico for its efforts to...Read More
(Kitco News) - Gold’s resiliency this week in light of a higher U.S. dollar and hawkish FOMC meeting minutes could mean the precious metal is ready to shine again, according to analysts.As this week is coming to a close, gold is heading for a third straight weekly gain, which marks a significant turnaround following a dismal summer. The December Comex gold futures were last trading at $1,231...Read More
(Reuters) - U.S. stocks rose broadly on Friday, driven by the consumer staples sector which was helped by Procter & Gamble results, brushing aside growth risk concerns in Europe and political tensions in Saudi Arabia.Consumer goods bellwether Procter & Gamble (PG.N) reported a surprise rise in first-quarter sales, sending its shares up 6.8 percent and boosting the consumer staples .SPLRCS...Read More
SHANGHAI (Reuters) - A Chinese consumer body has criticised iPhone maker Apple Inc over a recent data security issue which impacted a number of consumers in China who said they had suffered financial losses after having their Apple IDs stolen.Apple said earlier this month that an internal investigation had found that a “small number of our users’ accounts were accessed through phishing...Read More
HAL has been struggling since its mid-May highsOil name Halliburton Company (NYSE:HAL) is trading up 1.9% at $38.73 today, but the shares have been declining since their mid-May highs. Most recently, HAL touched a two-year low of $35.75 on Sept. 2. More broadly, oil stocks are taking a hit this week on oversupply concerns and a sector-wide bear note out of J.P. Morgan Securities yesterday. Meanwh...Read More
NEW YORK (Reuters) - Stocks rose across the world on Friday with a global index aiming to avoid a fourth consecutive weekly loss, but concerns over Italy’s budget weighed on its stocks and bonds.The benchmark Italian bond yield rose to 4-1/2 year highs and the euro touched a 10-day low before rebounding as the European Union called Rome’s draft budget an “unprecedented” bre...Read More
SINGAPORE/WASHINGTON (Reuters) - The United States and South Korea have suspended upcoming joint air defense exercises to give diplomatic efforts with North Korea “every opportunity to continue,” the U.S. military said on Friday.The Pentagon said the decision to suspend Exercise Vigilant Ace, which had been scheduled for December, was taken by U.S. Defense Secretary Jim Mattis and Sout...Read More
Chinese markets rallied after yesterday's steep dropThe Dow Jones Industrial Average (DJI) is moving higher into the weekend, boosted by well-received earnings reports from the likes of American Express (AXP) and Procter& Gamble (PG), with PG up 6.8% to lead the blue-chip index at midday. Investors are also breathing a sigh of relief over China, after the country's securities regulator announced n...Read More