Over the last few days, we have seen market sentiment shift from an overall bullish demeanor in regard to U.S. equities to a bearish outlook. The Dow Jones Industrial Average has now lost over 5% in trading since Wednesday, with a net decline of over 1,300 points in just two days of trading. Following yesterday????s decline of over 800 points in the Dow, today traders continued their liquidation s...Read More
(Kitco News)- Gold finds its legs after the crush in global equity marketsyesterday. The rising yields with the uncertainty of the trade war with Chinabecame too much for equity investors and the herd headed for the exits. Thescenario suggests that it was a safe haven play, but generally when equitiescollapse the first move for gold is lower, as investors raise cash to meetmargin calls. This move...Read More
Bitcoin prices on Thursday finally broke out of a recent lull, dropping as much as 6% and putting the $6,000 level back in play. A single bitcoinBTCUSD, -0.27% was last going for $6,202.07, down 5.5% since Wednesday at 5 p.m. Eastern Time on the Kraken exchange. Earlier in the session, the world's largest digital currency traded to an intraday low of $6,125.75, its lowest level since Sept. 19....Read More
Bitcoin prices on Thursday finally broke out of a recent lull, dropping as much as 6% and putting the $6,000 level back in play. A single bitcoinBTCUSD, -0.26% was last going for $6,202.07, down 5.5% since Wednesday at 5 p.m. Eastern Time on the Kraken exchange. Earlier in the session, the world's largest digital currency traded to an intraday low of $6,125.75, its lowest level since Sept. 19....Read More
Volatile session ends in heavy losses for major equity benchmarksU.S. stocks swung between minor gains and massive losses in today's wildly volatile session. Traders were temporarily relieved by this morning's tame reading on consumer inflation -- but sentiment remained skittish after Wednesday's steep sell-off, particularly as President Donald Trump continued to criticize the Fed's policy-tighten...Read More
The world's central banks have been ramping their purchases of gold recently, including purchases by a few banks that have previously ignored gold.The United States continues to run an enormous deficit that shows no possibility of going down in the future.There are signs that foreign investors are no longer willing to keep financing this deficit, which could ultimately lead to money printing.D...Read More
Could this be 9 times more valuable than Google, Facebook, and Amazon combined?It's a gadget you could conceal in the palm of your hand. A gadget that could easily pass through airport security. A gadget that could be mass produced quickly.And a gadget that holds the technology set to blow the lid off a breakthrough $15 trillion tech revolution...Of course, this gadget could stand to make a lot of...Read More
Oct 11 (Reuters) - Blackstone Group is nearing a deal to buy British live events complex NEC Group, and has agreed to pay just over 800 million pounds ($1.06 billion) for the business, Sky News reported on Thursday.Blackstone could strike a deal for the Birmingham-based complex as soon as Friday, Sky News reported.Blackstone and NEC Group did not immediately respond to requests for comment.$1 = 0....Read More
President Donald Trump continued to attack the Federal Reserve on Thursday, criticizing Chairman Jerome Powell as being too stringent with monetary policy.He blamed the Fed for causing a massive drop in stocks this week.Despite the criticism, Trump says he will not fire Powell.Michael Sheetz | Thomas Franck Published 9 Hours AgoUpdated6 Hours AgoCNBC.com show chapters President Trump continues...Read More
American Express, Johnson & Johnson, and P&G will also report The Fed's September meeting minutes will be released next week, with Wall Street expected to search for clues to the pace of future rate hikes. Traders will also digest monthly retail sales and housing data. Meanwhile, earnings season kicks into gear, with several big names reporting, including Dow members American Express Company (NYSE...Read More
LONDON/BRUSSELS (Reuters) - British and EU negotiators making headway on the Irish border hope for a Brexit deal breakthrough on Monday, diplomats said, though the British prime minister’s Northern Ireland ally has stoked uncertainty by warning it could vote against her.Under pressure from all sides, Theresa May told journalists at Downing Street reception that talks on the key issue of the...Read More
NEW YORK (Reuters) - Wall Street indexes continued their decline on Thursday as investors continued to shun 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 fell as much as 10.3 percent from its closing record high, reached on Aug. 29. If it closes at th...Read More
One company could be positioning itself to take over the cloud market.Both cloud computing and blockchain technology has changed the way modern society operates.Today the global public cloud market is nearing a colossal $200 billion and is growing at a 22% annual rate.Did you ever think in 2006 that Amazon Web Services would be the beast that it is today? The cloud computing division of Amazon is...Read More
(Reuters) - Major U.S. banks, beginning on Friday, are expected to report earnings growth that exceeds that of the broader market, but that may not be enough to impress investors, who have been unimpressed by loan growth and are anticipating higher deposit rates and credit costs.Investors skepticism has been significant in 2018. The S&P 500 Banks Index .SPXBK has fallen 3.7 percent year to dat...Read More
WASHINGTON (Reuters) - The head of the U.S. Securities and Exchange Commission said on Thursday the agency was in no rush to change quarterly reporting requirements for large public companies, two months after President Donald Trump ordered his agency to study the matter.“I don’t think quarterly reporting is going to change for our top names anytime soon,” said Chairman Jay Clayt...Read More
Gold prices surged Thursday to the highest in more than two months, with the metal's haven status in full force and attracting investment interest amid a sharp retreat for U.S. stocks that has infected foreign indexes. Gold gained as global stock markets suffered from broad declines Thursday. Major U.S. stock indexes headed lower Thursday, as well, failing to recover from Wednesday's plunge. The d...Read More
Traders shouldn't sweat the downturn, if history is any indicatorStocks on Wednesday suffered their worst day in months -- or years, in the case of the tech-rich Nasdaq Composite. The S&P 500 Index (SPX) endured its steepest one-day percentage loss since February, giving up 3.3%. Meanwhile, the S&P 500 ETF Trust (SPY) 14-day Relative Strength Index (RSI) fell below 25 -- into oversold territory. H...Read More
OTTAWA (Reuters) - Canada does not hold out much hope that Washington will quickly lift tariffs that it imposed on steel and aluminum exports and is resisting a U.S. push to agree to strict quotas, two sources familiar with the matter said.The administration of U.S. President Donald Trump imposed the tariffs on Canada and Mexico in June, citing national security reasons. Although Canada and Mexico...Read More
The options market is pricing in a bigger-than-usual post-earnings swing for JPMThird-quarter earnings season is about to get underway, with big-cap bank JPMorgan Chase & Co. (NYSE:JPM) set to take its turn in the spotlight ahead of the open tomorrow, Oct. 12. The financial stock has been relatively quiet over the last two months, per its 60-day historical volatility of 15% -- in the low 15th perc...Read More
ATHENS (Reuters) - Greece still seeks reparations for its victims of World War Two and repayment for a loan it was forced to make to its Nazi occupiers, President Prokopis Pavlopoulos told his visiting German counterpart on Thursday.Pavlopoulos, who met Frank-Walter Steinmeier in Athens, said that such demands fell under the framework of “resistance against those who want to return to a nigh...Read More