Netflix stock has more than doubled over the past 12 monthsShares of Netflix, Inc. (NASDAQ:NFLX) are up 0.6%in pre-market trading, after Cowen and Company hiked its price target to $430 from $375 on the streaming service -- nearly 8% upside to last night's close of $398.18. Analyst John Blackledge said he sees a strong second quarter from the FAANG stock, expecting the company's growing catalog o...Read More
WASHINGTON/NEW YORK (Reuters) - U.S. President Donald Trump said he met with four potential Supreme Court justices on Monday, while a person familiar with the selection process said Trump was focused keenly on two people, although others were still in contention.Trump told reporters at the White House that he will meet with “two or three more” candidates to replace Justice Anthony Kenn...Read More
The stock market will close early today ahead of the Fourth of July holidayStocks are eyeing a strong open to today's abbreviated session, with U.S. markets set to close at 1 p.m. ET in advance of the July 4 holiday. Dow Jones Industrial Average (DJI) futures are trading 137 points above fair value, and S&P 500 Index (SPX) and Nasdaq-100 (NDX) futures are higher, too, as tech stocks look set to ex...Read More
(Reuters) - U.S. stock index futures rose on Tuesday, boosted by a jump in oil prices and early gains in big technology stocks.Oil prices climbed more than 1 percent after Libya declared force majeure on significant amounts of its supply, though rising overall U.S. and OPEC output dragged on markets. [O/R]But the specter of trade turbulence continued to loom over the markets, with President Donald...Read More
WASHINGTON/BRUSSELS (Reuters) - U.S. President Donald Trump warned the World Trade Organization on Monday that “we’ll be doing something” if the United States is not treated properly, just hours after the European Union said that U.S. automotive tariffs would hurt its own vehicle industry and prompt retaliation.Trump, speaking to reporters during a meeting with Dutch Prime Minist...Read More
LONDON (Reuters) - World stocks rose on Tuesday, supported by gains in Europe and three straight days of tech-driven rises in the United States, even though markets across Asia and especially China remained in the grip of trade turbulence.Wall Street was set for another firmer session as investors positioned for strong Silicon Valley earnings before the reporting season starts next week, while Eur...Read More
Shorts have been creating a steady stream of selling pressure on the beverage stock Beer maker Molson Coors Brewing Co (NYSE:TAP) has had a tough time on the charts, with the shares down roughly 21% year-over-year. Plus, a recent rally off the stock's May 4 multi-year low was swiftly contained in the $68-$70 region -- home to its pre-bear gap levels from early May and its 100-day moving average. W...Read More
(Kitco News) - Gold and silver pricesare moderately higher in early U.S. trading Tuesday, on someshort covering in the futures markets and perceived bargain-basement buying inthe cash markets. Gold hit a 12-month low overnight and silver scored a6.5-month low on Monday. The key “outside markets” are also in a bullish dailyposture for the precious metals markets today, as the U.S. dolla...Read More
Despite recent weakness, gold remains thefavorite metal for Adrian Day, chairman and chief executive officerof Adrian Day Asset Management. Gold closed the second quarter around the lowfor the year as the wideningtariff disputes boosted the dollar, Days says. However, in the longer term, atrade war could hurt the greenback, he says. “Short term, many factors arenegative for gold: the strong...Read More
July 3 (Reuters) - Futures pointed to a higher opening for Canada's main stock index on Tuesday as oil prices gained after Libya declared force majeure on some of its crude exports and loss of Canadian supplies lifted U.S. crude price.Libya's National Oil Corp declared force majeure on loadings from Zueitina and Hariga ports, resulting in 850,000 bpd of supplies being disrupted.Production at Syncr...Read More
BEIJING (Reuters) - China’s embassy in Washington has issued a security advisory to Chinese nationals traveling to the United States, the latest such warning as trade tensions escalate between the two countries.The embassy warned Chinese tourists to be aware of issues including expensive medical bills, the threats of public shootings and robberies, searches and seizures by customs agents, te...Read More
Before hitting rock bottom, wemust admit there is a problem. We have certainly seen that the problem in goldtoo many was bottom fishing and not admitting there was a problem. Gold appearsto have found the lows at $1,240 and is trading higher this morning.This could be just a dead-catbounce or a short-covering rally, but the fact that the lows held could be thestart of something. We never know for...Read More
LONDON (Reuters) - Oil prices rose on Tuesday after Libya declared force majeure on some of its crude exports, while the loss of Canadian supplies helped lift U.S. crude to 3-1/2-year highs.U.S. light crude CLc1 jumped 99 cents, or 1.3 percent, to $74.93 a barrel, its highest since November 2014, before easing back to $74.79, up 85 cents, by 1120 GMT.Benchmark Brent crude oil LCOc1 was up 70 cents...Read More
DUBAI (Reuters) - Saudi Energy Minister Khalid al-Falih discussed the oil market developments with his Russian counterpart, and both agreed to continue close coordination in the interest of producers, consumers and the global economy, according to a statement by the Saudi Energy Ministry on Tuesday.Falih spoke with Russian Energy Minister Alexander Novak on Monday and discussed the need to modify...Read More
ROME (Reuters) - The new Italian government will not adopt measures to lower this year’s budget deficit, as requested by the European Commission, and is also ready to raise next year’s deficit goal, Economy Minister Giovanni Tria said on Tuesday.“The government doesn’t have the intention of adopting corrective measures for this year,” Tria told a parliamentary panel.T...Read More
SYDNEY (Reuters) - Australia’s central bank kept rates at record lows for a 23rd straight month on Tuesday, citing sluggishness in inflation and wages at home and the risk to global growth from trade policy in the United States.The Reserve Bank of Australia (RBA) last cut rates to 1.50 percent in August 2016, making it easily the longest run without a change since the cash rate was first for...Read More
* Italy/German spread at tightest in a week at 228 bps* Threat of German government collapse recedes* Safe haven German bond yields higher 2 bps* Trade war threat still hangs over market* French 30-year yield hits 18 month low* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds Tria comments, graphic, updates prices)By Abhinav RamnarayanLONDON, July 3 (Reuters) - German borrowing costs...Read More
SHANGHAI/HONG KONG (Reuters) - The U.S. government has moved to block China Mobile (0941.HK) from offering services to the country’s telecommunications market, recommending its application be rejected because the firm posed national security risks.The move by President Donald Trump’s administration comes amid growing trade frictions between Washington and Beijing. The United States is...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
LONDON (Reuters) - U.S. authorities have demanded the U.S. arm of Glencore Plc (GLEN.L) hand over documents relating to its business in Nigeria, the Democratic Republic of Congo and Venezuela, sending shares in the parent company down more than 10 percent.The Swiss-based commodities trader and miner said its subsidiary had received a U.S. Department of Justice subpoena requesting documents and rec...Read More