WASHINGTON (Reuters) - U.S. President Donald Trump warned on Thursday there was much more he could do that would hurt China’s economy further, showing no signs of backing off an escalating trade war with Beijing.Trump imposed tariffs on nearly $200 billion of Chinese imports last month and then threatened more levies if China retaliated. China then hit back with tariffs on about $60 billion...Read More
WASHINGTON (Reuters) - U.S. consumer prices rose less than expected in September, held back by a slower increase in the cost of rent and falling energy prices, as underlying inflation pressures appeared to cool slightly.The modest price increases come despite a U.S. labor market that looks robust by most measures. A separate report on Thursday showed an unexpected but modest rise in the number of...Read More
LONDON (Reuters) - Former British Prime Minister Tony Blair said there was a 50-50 chance of getting another Brexit referendum as Prime Minister Theresa May will be unlikely to secure a majority for any divorce deal in parliament.“Whatever Brexit is on offer today is going to result in significant economic harm,” Blair, who served as prime minister from 1997 to 2007, told Reuters.&ldqu...Read More
Nightstar Therapeutics also received bullish attentionIntuitive Surgical, Inc. (NASDAQ:ISRG) has been a long-term outperformer on the charts, but it wasn't able to dodge yesterday's huge market sell-off, losing 3.6% for its lowest close since late July. This extended the shares' recent pullback following their all-time high of $581.12 from Oct. 1. Today, ISRG stock has dipped another 1.4% to trade...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump launched a second day of criticism against the Federal Reserve on Thursday, calling its interest rate increases a “ridiculous” policy that was making it more expensive for his administration to finance its escalating deficits.“I’m paying interest at a high rate because of our Fed. And I’d like our Fed not to be so agg...Read More
(Reuters) - Sears Holdings Corp (SHLD.O) has started to miss payments to vendors, adding to concerns about its future after sources said the U.S. department store operator was preparing to file for bankruptcy in the coming days.Three vendors told Reuters that Sears has missed scheduled payments in the last couple of weeks.It was not immediately clear how widespread the vendor problems were and how...Read More
(Reuters) - Delta Air Lines (DAL.N) reported a third-quarter profit that beat analysts’ estimates on Thursday as strong demand for air travel and tight control over costs helped the airline battle rising fuel expenses.With oil prices hovering near their four-year highs, Delta and its peers such as American Airlines Group Inc (AAL.O) and Southwest Airlines Co (LUV.N), are facing a surge in fu...Read More
Merger and acquisitions in the precious metals sector are gaining momentum following Barrick's recently announced $6.1 billion-deal to acquire Randgold Resources.Shortly after, Canada's Americas Silver (TSX:USA) announced it was buying Pershing Gold (Nasdaq:PGLC) for $50.78 million in an all-stock deal."This transaction aligns with our stated initiative of building a profitable and low-cost precio...Read More
Merger and acquisitions in the precious metals sector are gaining momentum following Barrick's recently announced $6.1 billion-deal to acquire Randgold Resources.Shortly after, Canada's Americas Silver (TSX:USA) announced it was buying Pershing Gold (Nasdaq:PGLC) for $50.78 million in an all-stock deal."This transaction aligns with our stated initiative of building a profitable and low-cost precio...Read More
Falling prices demolish production and wipe out investors.Buy the SPDR Gold Shares ETF January 2020 $120-$125 call spread for $1.60.China, Russia, and Kazakhstan have been the largest buyers of gold. As incredible as it may sound, I'm starting to hear good things about gold. That's amazing as the barbarous relic has been the red headed step child of the financial markets for the past six years. No...Read More
(Reuters) - Wall Street opened lower on Thursday, but not as much as stock futures had indicated, after data showed consumer prices rose less than expected in September, indicating inflation pressures were easing.The Dow Jones Industrial Average fell 80.35 points, or 0.31 percent, at the open to 25,518.39. The S&P 500 opened lower by 8.81 points, or 0.32 percent, at 2,776.87. The Nasdaq Compos...Read More
The FAANG stock had its worst day since mid-2016 on WednesdayThe shares of Netflix, Inc. (NASDAQ:NFLX) plunged 8.4% during Wednesday's tech rout, marking their biggest one-day drop since July 19, 2016. Nevertheless, analysts are staying upbeat toward the FAANG stock, with several issuing bullish notes overnight.For starters, Piper Jaffray reiterated its "overweight" rating and $420 price target fo...Read More
ROME (Reuters) - The Italian government’s plan to lower the retirement age will cost future generations around 100 billion euros ($115.4 billion), the chief of the state pension agency INPS said on Thursday.The reform “will increase pension debt for young people by about 100 billion euros,” Tito Boeri said in a parliamentary hearing.“We have no choice but to sound an alarm,...Read More
(Bloomberg) - Equities are plummeting, President Donald Trump says the Federal Reserve's gone 'loco' and the trade war's heating up, yet traditional havens in times of trouble such as gold are not getting any love.The biggest selloff in equities since February rolled through Asia and into Europe on Thursday, triggering steep losses in benchmark share indexes, but gold has barely stirred, while ot...Read More
Gold-backed global exchange-traded funds posted a largeinflow Wednesday, says Commerzbank. This came as the U.S. Dow Jones IndustrialAverage fell by more than 800 points. Meanwhile, “the gold ETFs tracked byBloomberg registered an inflow of around eight tonnes yesterday,” Commerzbanksays. “This is attributable to the SPDR Gold Trust in the U.S. and was thefirst daily inflow into...Read More
The stock has seen a significant sell-off since its mid-September record peakShares of Stitch Fix Inc (NASDAQ:SFIX) are 3% lower at $22.81 in early trading, after being hit with a price-target cut to $21 from $23 at Piper Jaffray. Analyst Erinn Murphy cited an internal survey that found a low usage frequency on the Stitch Fix platform. In response, the stock is down 3.3% at $22.92. Following its...Read More
SAN FRANCISCO/FRANKFURT (Reuters) - Apple Inc is buying the power-management technology at the heart of its iPhones in a $600 million deal with Dialog Semiconductor that also secures the German-listed company’s role as a supplier to the U.S. tech giant.The agreement to acquire patents and people from the Anglo-German chip designer is not only unusual, but also the largest of its kind by Appl...Read More
(Kitco News) - Although silver's freefall appears to have ended and prices are holding above their August lows, the precious metal is still struggling to find a new direction, according to one market analyst.In a report published Tuesday, Ira Epstein, director of the Ira Epstein Division of Linn & Associates, Inc., said that in this neutral price environment, he sees silver as a short-term tra...Read More
LU??S EDUARDO, Brazil/BOONE, Iowa (Reuters) - The Bella Vita luxury condominium tower rises 20 stories over the boomtown of Lu?-s Eduardo Magalh??es in northeastern Brazil. Its private movie theater and helipad are symbols of how far this dusty farming community has come since it was founded just 18 years ago.Local soybean producers shell out upwards of a half-million U.S. dollars to live in the c...Read More
(Reuters) - The U.S. Securities and Exchange Commission, Tesla Inc and Chief Executive Officer Elon Musk submitted a joint filing late on Wednesday in support of a settlement, saying the terms were in the best interest of investors.“We therefore respectfully submit that the court should accept and enter the proposed consent judgments,” they said in a letter filed with the U.S. District...Read More