WASHINGTON (Reuters) - U.S. import prices jumped faster than expected in September amid resurgent energy prices but prices excluding fuels were unchanged.The Labor Department said on Friday import prices rose 0.5 percent last month. That was the largest increase since May and followed a revised 0.4 percent decrease in August.Import prices were previously reported to have fallen 0.6 percent in Augu...Read More
The Dow is set for a massive comebackDow Jones Industrial Average (DJIA) futures are signaling a huge comeback for U.S. stocks. The S&P 500 Index (SPX) and Nasdaq-100 (NDX) are both set for substantial jumps at the open, too, taking their cue from a broader recovery in global stock markets. Traders are digesting earnings releases from a number of big banks, including Dow component JPMorgan Chase (...Read More
The brokerage firm targeted 30% upside for SQ stockIt's been a rough week for Square Inc (NYSE:SQ) amid the surprise resignation of the company's Chief Financial Officer (CFO) Sarah Friar and a dramatic broad-market sell-off. However, Canaccord Genuity thinks this recent pullback creates a buying opportunity, and upgraded the payments processing name to "buy" from "hold," while boosting its price...Read More
MEXICO CITY (Reuters) - Stroll the aisles of any Oxxo in Mexico and you will find the staples of convenience store sustenance: beer, cigarettes, enough candy to keep dentists at full employment.Look closer and you will see this old-school chain is a linchpin of the country’s e-commerce. The retailer, with more than 17,000 locations throughout Mexico, has cracked two of the biggest barriers t...Read More
(Reuters) - JPMorgan Chase & Co (JPM.N) reported a better-than-expected quarterly profit on Friday as gains from higher interest rates and growth in loans helped the bank offset weakness in bond trading revenue.The largest U.S. bank by assets, whose results are often seen as a barometer of the economy, has benefited from a tax windfall and a strong economy that has led to higher interest rates...Read More
WASHINGTON (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Friday that President Donald Trump does not feel he needs to attack the Federal Reserve and respects its independence.“The president likes low interest rates. The president is concerned about the Fed raising interest rates too much and slowing down the economy and those are obviously natural concerns,” Mnuchin said in...Read More
The imminentshort squeeze gold bulls had been waitingfor since late July, was triggered yesterday after U.S. equitieswere down over three percent the previous session. Just after the London MetalsExchange (LME) opened yesterday morning, gold spec shorts slowly began to coveras Dow Futures were showing more weakness before the opening bell. Once theU.S. CPI inflation data came in lower than expecte...Read More
It’s safe to say it’s been a volatile week for markets and a bad one for stocks. But, with the rout showing early signs of abating, we’d like to finish the week focussing on a market which went up this week. At the beginning of the month we highlighted Gold’s potential to break higher. Noting the general lack of mean reversion throughout 2018’s decline, signs of beari...Read More
Great PantherSilver Ltd. (TSX: GPR; NYSE American: GPL) reports output from its two Mexicanmines declined in the third quarter compared to a year ago, although thecompany remains track to meet its full-year output guidance. Silver production decreased 16% year-on-yearto 448,840 ounces, while gold production fell 19% to 4,737 ounces. However,lead and zinc production increased 29% and 14%, respect...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump would go through with plans to meet with Chinese President Xi Jinping at the G20 summit next month if it looked like it would be a positive meeting, U.S. Treasury Secretary Steven Mnuchin said on Friday.“If it looks like we can make positive direction, then I’m sure that the president will have the meeting. But we need to do work in ad...Read More
FRANKFURT (Reuters) - The European Central Bank must be mindful of financial stability risks, including those created by its own ultra easy policy, ECB board member Sabine Lautenschlaeger said on Friday, weighing in on a recent debate.“The ECB cannot and should not turn a blind eye to risks to financial stability,” Lautenschlaeger said in Malta. “Without financial stability, it b...Read More
(Kitco News) - Gold prices aretrading modestly down in early U.S. trading Friday, on a normal correctivepullback after scoring on Thursday the strongest daily gains in over two years.Now, the yellow metal is in a much better technical posture to suggest higherprices are likely in the coming weeks, or longer. December gold futures werelast down $2.10 an ounce at $1,225.70. December Comex silver wa...Read More
LONDON (Reuters) - Oil edged further above $80 a barrel on Friday as a rally in equities lent support, though prices pared most of their gain after a closely watched forecaster deemed supply adequate and the outlook for demand weakening.Crude was still heading for its first weekly drop in five weeks, pressured by a big rise in U.S. inventories and fading concerns for now that looming U.S. sanction...Read More
BENGALURU (Reuters) - Indian online retailer Flipkart, owned by Walmart Inc, expects bumper sales during the annual festive season that just kicked off, as it boasts that U.S. rival Amazon Inc is losing relevance in India.Flipkart and Amazon both began their flagship annual sales in India on Wednesday, and will compete for shoppers during the October-December festive season when most big-ticket pu...Read More
(Reuters) - Wall Street indexes extended their decline on Thursday as volatility spiked and investors shunned risky investments, and Nasdaq looked like it could confirm a correction.By late afternoon the S&P was down another 2 percent after shedding 3 percent in the previous day’s session and Nasdaq was down as much as 10.3 percent from its closing record high, reached on Aug. 29. If it...Read More
BRUSSELS (Reuters) - Production at factories in the euro zone increased in August by more than forecast, reversing the negative trend of the previous two months in what could prove a boost for the bloc's economic growth in the third quarter, data released on Friday showed.The European Union statistics agency Eurostat said industry output in the 19-country currency bloc was up in August by 1.0 perc...Read More
LONDON (Reuters) - Oil markets look “adequately supplied for now” after a big production increase in the last six months, but the industry is coming under strain, the West’s energy watchdog said on Friday.The International Energy Agency said in its monthly report that the world’s spare oil production capacity was down to 2 percent of global demand, with further falls likely...Read More
* Stocks bounce pushes most euro zone bond yields up* Recovery in risk appetite benefits Italian market* IMF says Italy needs to respect EU budget rules* Moody’s to review Portugal ratings* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates with Draghi comments,)By Dhara RanasingheLONDON, Oct 12 (Reuters) - German government bonds were set for their best week since August on F...Read More
NUSA DUA, Indonesia (Reuters) - Just in case any of the global central bankers and finance ministers gathered in Indonesia missed the message delivered repeatedly this week, the host nation said it again on Friday: Everyone stands to lose if trade wars are allowed to escalate. Indonesian President Joko Widodo didn’t mention the United States or China, the world’s two largest econ...Read More
NUSA DUA, Indonesia (Reuters) - The euro zone’s continuing expansion has vindicated European Central Bank policy but risks to the outlook, from trade protectionism to the threat of a hard Brexit, are on the rise, ECB President Mario Draghi said on Friday.The ECB has been dialing back stimulus for months and expects to end a 2.6 trillion euro asset purchase scheme in December, arguing that it...Read More