Gold rebounds amid risk aversion still remains in a 3-day range. US Dollar losses momentum after hitting fresh highs on US data. Gold bounced to the upside, despite USD strength and climbed to $1,297/oz hitting a fresh daily high. Th yellow metal rose from $1,290 supported by a decline in equity prices and yields. In Wall Street the DOW JONES failed to hold to gains and was down 0.31%. Des...Read More
WASHINGTON (Reuters) - Senate Republicans and President Donald Trump will meet at the White House on Tuesday to discuss a measure before Congress aimed at tightening investment rules to better protect national security, Senator John Cornyn, the No. 2 Senate Republican, told reporters on Tuesday.Cornyn has spearheaded efforts in Congress to win passage of a bill to tighten oversight by the inter-ag...Read More
NEW YORK (Reuters) - The U.S. government's healthcare program for the elderly will exhaust its reserves for hospital insurance in 2026, three years earlier than last year's forecast, the Social Security and Medicare Boards of Trustees said in a report on Tuesday.The report also said the costs of the U.S. Social Security program will exceed incoming revenues this year for the first time since 1982,...Read More
NEW YORK (Reuters) - The dollar fell on Tuesday, reversing gains to a near six-month high, as the euro rallied after Italian Prime Minister Giuseppe Conte said the government had never considered leaving the euro zone.“Conte’s comments were reassuring to investors given the make-up of the Italian coalition and its previous statements and certainly helped pushed the euro higher,”...Read More
BRUSSELS (Reuters) - G7 leaders will call on North Korea on Friday to get rid of its nuclear weapons if it wants sanctions against the country to be lifted, a senior European union official said on Tuesday.The G7 are the United States, Canada, Japan, Britain, France, Germany and Italy. Their leaders are to meet in Canada on June 8-9.“We expect a strong and united G7 message to the Democratic...Read More
(Reuters) - The S&P 500 edged slightly higher on Tuesday, on track for its third straight day of gains, while Nasdaq hit an intraday record high with help from the technology and consumer discretionary sectors.Amazon.com rose 1.8 percent, leading gains in the S&P consumer discretionary index, while Apple edged up 0.7 percent, providing the biggest boost to the technology index.Still, inves...Read More
OTTAWA (Reuters) - The Group of Seven leading industrial nations can expect frank discussions on trade at a summit this week, which U.S. President Donald Trump is expected to attend, a senior Canadian government official said on Tuesday.Trump infuriated Canada and European Union members of the G7 by imposing tariffs on steel and aluminum last week.A government official told reporters on Tuesday it...Read More
Plus, RGNX is at a record high ahead of joining the S&P SmallCap 600Stocks are modestly higher at midday, astech remains in focus. Three names making notable moves in today's trading are retailer Macy's Inc (NYSE:M), athletic device maker Fitbit Inc (NYSE:FIT), and drug concern Regenxbio Inc (NASDAQ:RGNX). Below we will take a closer look at howshares of M, FIT, and RGNX have been faring on the...Read More
WTW stock hit a seven-year high earlierShares of Weight Watchers International, Inc. (NYSE:WTW) have jumped 7.2% to trade at $85.27, and earlier hit a seven-year high of $86.76. BofA-Merrill Lynch became the latest brokerage firm to pour love on WTW stock -- initiating coverage with a "buy" rating and $95 price target, and saying the Oprah-endorsed company should lead the weigh management pack in...Read More
ROME, June 5 (Reuters) - Italy's new, anti-establishment government won its first confidence vote in the upper house Senate on Tuesday after Prime Minister Giuseppe Conte had presented his coalition's agenda of tax cuts and higher welfare spending.The government, backed by the 5-Star Movement, founded nine years ago as a grass-roots protest group, and the right-wing League, won the vote by 171-117...Read More
WASHINGTON (Reuters) - The United States warned governments and the private sector on Tuesday to crack down on what it described as Iranian efforts to exploit them to fund its support for terrorism, destabilizing actions in the region and rights abuses at home.The appeal, in a speech by the senior U.S. Treasury official for terrorism and financial intelligence, follows U.S. President Donald Trump&...Read More
WASHINGTON (Reuters) - U.S Senate Majority Leader Mitch McConnell said on Tuesday he was cancelling most of the Senate’s August recess to give lawmakers time to pass spending bills before a Sept. 30 deadline and to confirm more of President Donald Trump’s appointees.“Due to the historic obstruction by Senate Democrats of the president’s nominees and the goal of passing app...Read More
SAN FRANCISCO (Reuters) - Microsoft Corp is stepping up its hiring of women seeking to rejoin the workforce, following a rash of complaints about sexual harassment and gender discrimination at the world’s largest software company.Such “returnship” programs, aimed at workers who had paused their careers to raise children or care for loved ones, are gaining popularity in Silicon Va...Read More
The designer, 55, reportedly committed suicideThe shares of Tapestry Inc (NYSE:TPR) -- nee Coach -- are down 1.7% at $44.38, amid reports that designer Kate Spade committed suicide. Tapestry bought Spade's namesake brand last year, though last quarter's Kate Spade sales left much to be desired. Against this backdrop, TPR options are flying off the shelves this afternoon.It's been a rough few weeks...Read More
LONDON (Reuters) - Gold jewelry sales in number one market China are finally picking up after years of decline, but consumers are still shying away from platinum.Chinese jewelry sales are a key component of global demand for both physical gold and platinum, accounting for 14 percent and 16 percent of consumption respectively. Since peaking in 2013, both have fallen by around a third.Analysts and j...Read More
Gold futures settled higher Tuesday for the first time in three sessions, to reclaim $1,300-an-ounce level as the U.S. dollar stronger turned lower for the week, helping the precious metal recoup some investment interest. August gold GCQ8, -0.05% tacked on $4.90, or 0.4%, to settle at $1,302.20 an ounce after falling in each of the last two sessions. Its settlement Monday at $1,297.30 marked the l...Read More
FRANKFURT (Reuters) - The market rout that hit Italy last week shows that the euro zone is not yet “crisis proof” and more reforms are needed at both the national and European levels, the head of Germany’s central bank said on Tuesday.Investors are nervous about Italy’s new anti-establishment government, which has promised to increase spending, cut taxes and challenge Europ...Read More
(Reuters) - Microsoft Corp’s (MSFT.O) decision to buy GitHub has been a blessing for rival U.S. coding platform GitLab, which has seen thousands of developers jump ship on worries that GitHub may end up favoring Microsoft products over others.“It has been crazy in the last twenty-four hours. We are seeing thousands switching, tweeting about it,” GitLab Chief Executive Officer Syt...Read More
NEW YORK/WASHINGTON (Reuters) - U.S. President Donald Trump will meet with his trade advisers on Tuesday to discuss an offer by China to import an extra $70 billion of American goods over a year as Beijing tries to defuse a potential trade war between the world's two largest economies.Two sources with direct knowledge of the talks told Reuters there have been no discussions on what Washington woul...Read More
The healthcare concern could enjoy a short squeezeThe shares of gene therapy concern Abeona Therapeutics Inc (NASDAQ:ABEO) are set for their best day in nearly two months, up 15.5% to trade at $17.92, thanks to a bullish analyst note. Specifically, Seaport Global started coverage of ABEO stock with a "buy" endorsement and $29 price target -- representing 90% upside to the security's closing price...Read More