(Kitco News)- Goldprices continue to hold on to modest gains, following weaker-than existing homesales data, from the National Association of Realtors (NAR).Existinghome sales were slightly down, showing a seasonally adjusted and annualizedrate of 5.15 million in September. Economists were expecting to see asales rate of 5.29 million units.Goldprices were largely unchanged after the data was relea...Read More
(Reuters) - Procter & Gamble Co (PG.N) reported first-quarter profit that beat estimates and sales that unexpectedly rose on Friday, thanks to robust demand for its beauty and cleaning products, helping it stave off rivalry from cheaper store-branded products.Organic sales, which exclude revenue from newly acquired units, enjoyed growth of 4 percent, the best in five years.Sales surged 5 perce...Read More
FRANKFURT (Reuters) - The European Central Bank’s policy meeting will be relegated to a sideshow next week as the wrangle over Italy’s budget takes the main stage.The Italian government is looking to boost spending in the hope of engineering faster economic growth.But its resolve to breach European Union fiscal rules will be put to the test as it faces a rebuke from the Commission, dow...Read More
Streaming stock ROKU also got an upgradeWalt Disney Co (NYSE:DIS) is trading up 1.4% this morning at $117.75 and earlier hit a three-year high of $118.13 after a bull note out of Barclays. The firm upgraded the blue chip to "overweight" from "equal weight" and boosted its price target to $130 from $105, representing all-time-high territory and a 12% premium to last night's close at $116.18. Barcla...Read More
When gold’slatest Commitment of Traders (CoT) report was released last Friday, we learnedspeculators boosted their net-short position in bullion futures and options tothe largest level since at least 2006 in the week ended Oct. 9th.During the previous session on October 11th, gold posted the biggestdaily rise since the Brexit vote as a surge in safe- haven demand saw managedmoney speculators...Read More
FRANKFURT (Reuters) - European politicians have called for action to tackle dividend stripping after Reuters and other media revealed how large banks were involved in trading schemes that cost taxpayers billions of euros.In Germany’s biggest post-war fraud investigation, prosecutors in Cologne are investigating banks involved in the trades, which secured illicit double tax rebates on dividen...Read More
The online payment concern is paring some of its October lossesShares of PayPal Holdings Inc (NASDAQ:PYPL) are soaring in early trading, last seen up 8.6% at $84.17, after the company last night reported an impressive third-quarter profit beat. The firm also highlighted a record in net new active accounts and encouraging engagement metrics, and said Venmo payments grew 78%. In response, the stock...Read More
The retail stock is on track to carve out a new annual low this morningThe shares of eBay Inc (NASDAQ:EBAY) are 5.8% lower ahead of the bell, after Stifel downgraded the retail stock to "hold" from "buy," while slashing its price target to $35 from $43. The analyst in coverage cited weakening gross merchandise volume (GMV) trends, which were highlighted in PayPal's (PYPL) quarterly report last nig...Read More
Despite yesterday's decline, stocks could close the week in positive territoryStocks are signaling a comeback after another big sell-off yesterday. Dow Jones Industrial Average (DJIA) futures are trading nearly 100 points above fair value, getting help from well-received earnings out of blue chips American Express (AXP) and Procter & Gamble (PG). Futures are also higher for the S&P 500 Index (SPX)...Read More
LONDON (Reuters) - Oil prices rose on Friday on signs of surging demand in China, the world’s second-biggest oil consumer, although the market was heading for a second week of losses on rising U.S. inventories and concern that trade wars were curbing economic activity.Benchmark Brent crude oil LCOc1 was up 70 cents a barrel at $79.99 by 1100 GMT. U.S. light crude CLc1 was 40 cents higher at...Read More
Phil Flynn,senior market analyst with at Price Futures Group, looks for gold to build onits recent gains over the next week. “Geopolitical turmoil and shaky global stockmarkets will keep gold shiny,” he says. “The murder mystery in Saudi Arabia, aswell as EU [European Union] concerns over Italy’s budget, will keep gold buyingstrong.” By “murder mystery,” F...Read More
GENEVA (Reuters) - Disputes over U.S. tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions.The agenda for an Oct. 29 meeting of the WTO's dispute settlement body on Friday confirmed the legal moves, which Reuters reported late on Thursday.The dispute procedure begins with a 60-day...Read More
(Reuters) - Schlumberger NV’s (SLB.N) third-quarter profit rose 18.2 percent on higher oilfield services demand and the company said it expects the current pipeline bottlenecks in the Permian basin to be addressed within the next 12 to 18 months.U.S. crude prices CLc1 are up about 40 percent from a year ago, but service companies which help operators drill and finish wells, have seen demand...Read More
PARIS (Reuters) - European Union negotiator Michel Barnier said on Friday a Brexit deal with the United Kingdom was 90 percent done, although there was still a chance no accord would be reached due to ongoing stumbling blocks over the Irish border.“Ninety percent of the accord on the table has been agreed with Britain,” Barnier told France Inter radio.“I’m convinced a deal...Read More
BEIJING (Reuters) - China’s economic growth cooled to its weakest quarterly pace since the global financial crisis, with regulators moving quickly to calm nervous investors as a years-long campaign to tackle debt risks and the trade war with the United States began to bite.Chinese authorities are trying to navigate through numerous challenges, as the trade war fears have sparked a blistering...Read More
US trade tariffs could be a way to make its trade with other countries fairer.Unstable situations in developing countries are catalysts for higher gold prices ahead.Likely that low value jobs are not coming back to the US.SBTV's latest guest is Jayant Bhandari of Anarcho Capital. He brings a fresh perspective to the US trade war with China and insights on the performance of gold in the Third World...Read More
(Kitco News) - Gold prices aremodestly up in early U.S. trading Friday, supported on some safe-haven buyinginterest in a nervous trading environment heading into the weekend. December goldfutures were last up $1.80 an ounce at $1,231.90. December Comex silver waslast up $0.121 at $14.725 an ounce. Don'tbe surprised if trader and investor anxiety upticks as the trading session progressesFriday, hea...Read More
LONDON, (Reuters) - - Britain's government recorded a smaller budget deficit than expected in September, according to figures that are likely to cheer finance minister Philip Hammond ahead of his annual budget.The deficit in September stood at 4.123 billion pounds, compared with 4.958 billion pounds a year ago, the Office for National Statistics (ONS) said. A Reuters poll of economists had pointed...Read More
(Reuters) - Honeywell International Inc (HON.N) reported better-than-expected quarterly profit on Friday and lifted its full-year forecasts for cash flow and margins, driven by strong sales of aircraft parts and warehouse automation products.Shares of Honeywell, which makes everything from aircraft engines to catalysts used in petroleum refining, were up 3.2 percent at $160.17 in premarket trading...Read More
LONDON (Reuters) - OPEC is struggling to add barrels to the market after agreeing in June to increase output, an internal document seen by Reuters showed, as an increase in Saudi Arabia was offset by declines in Iran, Venezuela and Angola.The Organization of the Petroleum Exporting Countries and allies agreed in June to boost supply as U.S. President Donald Trump urged producers to offset losses c...Read More