LONDON (Reuters) - World stock markets suffered their worst tumble this week since February’s violent shakeout with some $2.6 trillion of investor wealth lost, but there was no clear trigger apart from long-brewing worries on U.S. interest rates, trade wars, China and emerging markets.Whatever the precise cause of this week’s reversal, many investors are now wondering whether the confl...Read More
(Kitco News)- WallStreet and Main Street both look for gold’s newfound upward momentum tocontinue next week, based on the Kitco News gold survey.Equitiessold off sharply Wednesday and Thursday. Even though the stock market was upFriday morning, the prior weakness left gold higher for the week as investorsturned to the metal as a safe haven. The dollar index also eased this week,further fueli...Read More
(Kitco News)- The gold investors are breathing a much-needed sigh of reliefafter the precious metal pushed to a 10-week high, seeing its best gains in twoyears, but more work needs to be done, according to one commodity analyst.In a report Friday, Ole Hansen, head of commodity strategy atSaxo Bank, said that after Thursday’s rally, which saw prices rise more than$29 on the day, he is now bul...Read More
Get ready for an influx of pot stock profits.On October 17th, marijuana will be 100% legal in Canada.That's sparking a new wave of IPOs. And shares could surge 501% - 1,364% in the coming weeks - just like the recent weed stock IPOs.One investor's research has uncovered a secret way to access red hot IPO shares.Click here right now for details on this urgent trading situation.Canada is the first c...Read More
(Reuters) - Wall Street climbed more than 1 percent on Friday following its worst two-day slide in eight months, with technology and other high-growth stocks leading a fight back.Ten of the 11 major S&P sectors were higher, led by the technology sector’s .SPLRCT 3.11 percent jump, with Microsoft (MSFT.O) and Apple (AAPL.O) gaining 3 percent.JPMorgan Chase & Co (JPM.N) and Wells Fargo...Read More
BRUSSELS (Reuters) - Brussels, the political heart of Europe, could prove the center of global market focus next week as Italy’s budget and Brexit talks overshadow economic data and central banks.World shares were on course for their worst week since February as a spike in U.S. bond yields, a U.S.-China trade war and other global risks have combined to undermine sentiment.One such risk is an...Read More
Trump may be facing an uphill battle he can't win in 2020.He's a successful businessman who never held public office before winning the Presidency...He's coming into power after an electoral college landslide...And he did it by beating an out-of-touch New Yorker opponent.Once in office, he launches a vast trade war, promising to stand up for America's heartland, with 890 increased tariffs in total...Read More
(Bloomberg) - Gold Fields Ltd. shareholders getting impatient over the company's failure to stem losses at the huge South Deep deposit in South Africa shouldn't lose hope, said Chief Executive Officer Nick Holland.Gold Fields said in August it's embarking on yet another turnaround plan at the operation, its only one left in South Africa. South Deep's disappointing performance has been a drag on t...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
Getty ImagesTanker trucks load up with fuel at a terminal attached to a Citgo oil refinery March 8, 2005 in Lemont, Illinois. The numbers: The cost of goods imported into the U.S. rose in September for the first time in four months. The import price index climbed 0.5% last month, driven up by higher cost of imported fuel, the government said Friday. This was above the Wall Street expectations o...Read More
(Bloomberg) - Gold may have finally snapped out of its inertia.Prices largely held the biggest gain since June 2016, when the U.K. voted to exit the European Union, after a slump in global equity markets stoked demand for the metal as a store of value. Bullion received another shot in the arm during Thursday's surge after data showing weaker-than-expected U.S. inflation raised speculation that th...Read More
BEIJING (Reuters) - Amid gathering gloom over the state of the Chinese economy, exporters of motorcycles, tractors, photocopiers and Christmas tree lighting will join thousands of other companies peddling their wares at China’s largest trade fair Monday.Many of those exporters will have something in common - uncertainty over future U.S. orders as a trade war with the United States rages. The...Read More
(Reuters) - Citigroup Inc reported a better-than-expected quarterly profit on Friday, helped by lower expenses, higher bond trading revenue and strength in its consumer banking business in Mexico.Investors have been waiting to see how trading revenue fared at the five big Wall Street banks due to an escalating U.S-China trade war and executives warning that the business’s growth would be mut...Read More
NUSA DUA, Indonesia (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Friday that he told China’s central bank chief that currency issues need to be part of any further U.S.-China trade talks and expressed his concerns about the yuan’s recent weakness.Mnuchin also told Reuters in an interview that China needs to identify concrete “action items” to rebalance the two...Read More
Gold’stechnical-chart picture has improved, and the December futures potentiallycould challenge the 100-day moving average around $1,238.10 an ounce in thenot-too-distant future, says Charlie Nedoss, senior market strategist withLaSalle Futures Group. The most-active Comex contract hit a 10-week high of $1,230 anounce on Thursday, although it has pulled back some to $1,225.30, down $2.30for...Read More
The brutal selloff that engulfed global stocks this week took a pause on Friday as risk sentiment slightly improved across financial markets. Most Asian shares recovered during early trade despite Wall Street suffering heavy losses overnight. In Europe, stocks continue to march higher on positive global cues which could support Wall Street later in the afternoon. Although positive trade data from...Read More
Long call options offer limited risk and theoretically unlimited rewardIn the simplest terms, a call option gains value when the underlying stock rises. Buying a call is essentially a bullish bet that gives the trader the right, but not the obligation, to purchase the underlying shares for a specific price (the strike price) before an expiration day.Let's say Stock XYZ is trading at $39.50. A trad...Read More
Wells Fargo is rising with sector peers Citigroup and JPMorgan ChaseShares of Wells Fargo & Co (NYSE:WFC) are moving higher in early trading, after the banking firm this morning posted third-quarter results. Though earnings fell just shy of estimates, revenue was slightly better than expected, with CFO John Shrewsberry adding that the company saw "positive business trends" during the quarter. As...Read More
Wedbush thinks there's major potential for Fitbit in healthcareFitbit Inc (NYSE:FIT) is trading up 7.3% at $4.83, after Wedbush upgraded the stock to "outperform" from "neutral" and set a $6.50 price target, citing potential tailwinds from the company's push into the healthcare space. In particular, the analyst note highlighted Fitbit's collaboration with Google. FIT shares showed signs of life ea...Read More
Both names were up more than 5% in early tradingMizuho Securities initiated coverage on Abeona Therapeutics Inc (NASDAQ:ABEO) with a "buy" rating and $17 price target, representing expected upside of 69.3% to last night's close at $10.04. In reaction, ABEO stock is up 6.6% to trade at $10.70.Analysts are already upbeat toward the rare disease specialist, with all seven in coverage maintaining a "s...Read More