AAPL and AMZN notched all-time peaksThe U.S. stock market started the week with a bang, as Wall Street cheered a trade deal between the U.S. and Mexico -- sparking major upside for these auto stocks, though Tesla sat out the rally on an Elon Musk tweet. Surging tech shares only fanned the bullish flames, with the S&P 500 and Nasdaq carving out new record highs -- with the latter slicing through th...Read More
The shares are knocking on the door of multi-year highsShares of Immunomedics, Inc. (NASDAQ:IMMU) are up 2.1% to trade at $26.55, and are pacing for a sixth straight day of gains -- their longest win streak since early June. In fact, IMMU stock has added more than 19% so far this week, and is set for its best week of 2018, as the shares extend last week's post-earnings momentum. What's more, now...Read More
Handcuffing is a great strategy for nervous options traders and fantasy football team ownersYou might assume that trading options and playing fantasy football have very little in common, but you'd be wrong. To start, both have become more mainstream lately; roughly 2.6 billion equity options have changed hands already in 2018, more than all of 2007, according to the Options Clearing Corporation (O...Read More
(Kitco News) - With gold heading for its fifth consecutive monthly decline, analysts are looking at the U.S. dollar for direction, adding that the greenback has a solid hold over the precious metal’s prices.Even though gold is slightly up on the day, with December Comex gold futures last trading at $1,206.30, up 0.11%, the yellow metal is still going to mark its longest monthly losing streak...Read More
William SchombergLONDON (Reuters) - Investors returning from their summer holidays in the coming days are likely to feel a distinct chill in the air as they assess the world economy.Growth globally of about 4 percent this year has raised hopes that the hangover of the financial crisis has finally lifted, a full 10 years after the collapse of Lehman Brothers.But President Donald Trump’s relen...Read More
Julie Gordon, Sharay AnguloWASHINGTON (Reuters) - Talks between Canada and the United States to revamp NAFTA appeared to stumble on concessions over agriculture, as top negotiators struggled for a fourth day to meet President Donald Trump’s Friday deadline.U.S. Trade Representative Robert Lighthizer and Canadian Foreign Minister Chrystia Freeland resumed talks on Friday, with Mexico still on...Read More
Joseph WhiteDETROIT (Reuters) - Ford Motor Co (F.N) has abruptly killed a plan to sell a Chinese-made small vehicle in the United States because of the prospect of higher U.S. tariffs, the head of the automaker’s North American operations said Friday.The automaker’s decision came as U.S. President Donald Trump is escalating a trade battle with China, threatening to impose duties on ano...Read More
AIV stock tends to outperform during Labor Day weekShares of real estate investment trusts (REIT)Washington Prime Group Inc (NYSE:WPG) and Apartment Investment and Management Co (NYSE:AIV) have both been quietly climbing out of their early 2018 holes. There is reason to believe their recentrallies could resume, as both stocks recently flashed short-term bullish signals heading into the new month....Read More
All three indexes are headed toward weeklyand monthly gains, thoughStocks are mixed at midday, with volume light ahead of the long holiday weekend. At last check, the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are modestly lower, as trade talks between the U.S. and Canada near today's deadline, and recent comments from President Donald Trump accelerate already rocky trade relati...Read More
(Kitco News)- Gold prices are now holding only modest gains inlate-morning trading Friday. The metals have given back about half of theirdaily advances as the U.S. dollar index has pushed to its daily high and istrading moderately up.The safe-haven gold and silver markets probably won't seea lot of downside pressure the rest of the session, heading into a three-dayU.S. holiday weekend that does ho...Read More
(Kitco News)- Wall Street and MainStreet both look for gold prices to rally in the week after traders return towork from the long U.S. Labor Day weekend, based on the weekly Kitco News goldsurvey.Eighteen marketprofessionals took part in the Wall Street survey. Nine respondents, or 50%,called for higher prices, while four, or 22%, said lower. Five respondents, or28%, predicted a sideways market.Me...Read More
After a vicious selloff precious metals have stabilized. Its not a surprise given the breadth and sentiment extremes we noted and had predicted earlier. Although recent gains have met some resistance, the immediate path of least resistance should be higher. Let's take a look at the key support and resistance levels for the metals and the miners.Gold has retreated after hitting $1220/oz a few days...Read More
(Kitco News)- Gold prices areholding critical support above $1,200 an ounce, but according to some analysts,there is still much heavy lifting that needs to be done as the precious metalsees its longest monthly losing streak in five years.August was aparticularly rough month for the yellow metal as the price dropped to a 1.5year low at the beginning of the month. While prices are off its lows, them...Read More
Precious metals miner Tahoe Resources (TSX:THO)(NYSE:TAHO) had to temporarily halt operations at its La Arena gold mine in Peru following the trespassing of about 100 protesters demanding compensation for alleged environmental impacts of the operation.The illegal action by the group, from a nearby community located about three km southwest of the mine, follows recent meetings between Tahoe and s...Read More
RH has benefited from a line of support at the 50-day moving averageShares ofRH (NYSE:RH) are up 1% at $158.51 this morning, with the company gearing up for its second-quarter earnings report, slated for release after the market closes this Tuesday, Sept. 4. Below we will take a look at how RH -- formerly Restoration Hardware -- has been faring on the charts, and also dive into what the options m...Read More
A federal judge denied the blue chip's motion for a new trialShares of VirnetX Holding Corporation (NYSEAMERICAN:VHC) are up 11% to trade at $3.28 this morning, after a federal judge denied Apple's (AAPL) motion for a new trial in a patent dispute with the company. Further, the judge affirmed a jury verdict ordering Apple to pay VirnetX more than $502 million, and granted the latter's motion for...Read More
CMG still boasts a 65% lead in 2018Chipotle Mexican Grill, Inc. (NYSE:CMG) stock is trading lower this morning, after a Securities and Exchange Commission (SEC) filing revealed that Pershing Square, the hedge fund run by activist investor Bill Ackman, cut its stake in the company from 10.4% to 7.4%. This makes Vanguard Group the new top Chipotle shareholder, according to Bloomberg. At last check,...Read More
Mr.Quinton Hennigh reportsNOVO FINALIZES TRANSACTION WITH CREASY GROUPNovo Resources Corp. has finalized the outstanding components of a transaction with Mark Gareth Creasy and entities controlled by him (collectively, the Creasy group).As a result, Novo now has:Four joint ventures with the Creasy group under which it has earned a 70-per-cent interest in the gold rights (gold and minerals associa...Read More
KO has had a rocky year on the chartsThe Coca-Cola Co (NYSE:KO) stock is down 0.3% at $44.82 in early trading, after the beverage giant announced its $5.1 billion purchase of global coffee chain Costa, in an attempt to continue shifting its business away from sugary drinks and increase its international exposure. Nevertheless, the shares of java giant Starbucks (SBUX) are up 0.3% this morning, whi...Read More
Since lateJuly, there has been a growing chorus of gold sector analysts calling for animminent upside explosion in the miners based generally on the highly publicized and extreme managed money short position in goldfutures. Although I happen to agree this overly large speculator short positionis a time bomb which can eventually propel most everything gold related muchhigher once they are forced to...Read More