Walmart is the best Dow stock today, thoughThe Dow Jones Industrial Average (DJI) is trading well into triple-digit-gain territory today, as a dearth of market-moving news has stocks continuing their positive momentum from last week's upbeat jobs report. Walmart (WMT) is the best performing blue chip today amid a broader rally in retail stocks and news the company sold the majority of its Brazilia...Read More
GENEVA (Reuters) - The European Union could impose preliminary measures to safeguard its steel and aluminum industries as early as July, although a full investigation will take nine months, EU Trade Commissioner Cecilia Malmstrom told Reuters on Monday.“We can take pre-measures in July already. This is what we are going to discuss. We want to see the preliminary outcomes of the investigation...Read More
OTTAWA (Reuters) - Canada’s cabinet on Monday discussed how to protect the domestic steel and aluminum industry from U.S. tariffs, just hours ahead of a scheduled meeting between Prime Minister Justin Trudeau and domestic industry leaders.U.S. President Donald Trump last week unveiled a 25 percent tariff on Canadian steel and a 10 percent tariff on aluminum, citing national security reasons....Read More
MELBOURNE (Reuters) - Metals traders are moving jobs for the first time in years as a price recovery spills into the trading sector, and more hires are expected as brokers eye opportunities from China's mainland exchanges opening to investors abroad.The signs of an uptick follow a six-year industry shake-out as years of declining prices led to the exit of major traders such as Barclays and Deutsch...Read More
The truck stock has seen choppy trading since late MarchTruck and machinery manufacturer Navistar International Corp (NYSE:NAV) is slated to report fiscal second-quarter earnings before the market opens tomorrow, June 5. Navistar stock is down 0.4% at $38.77 at last check, and has seen choppy trading since its late-March lows. More recently, NAV has struggled to break above the 200-day moving ave...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday said he had committed no wrongdoing but has the “absolute” power to pardon himself, echoing an sweeping argument put forth by his lawyers amid the U.S. special counsel’s investigation into alleged Russian meddling in the 2016 U.S. election.In the memo to U.S. Special Counsel Robert Mueller, which was sent in January and...Read More
WASHINGTON (Reuters) - New orders for U.S.-made goods fell more than expected in April, weighed down by declines in demand for transportation equipment and machinery, but the underlying trend continued to suggest strong momentum in the manufacturing sector.Factory goods orders decreased 0.8 percent, the Commerce Department said on Monday. Data for March was revised up to show orders rising 1.7 per...Read More
(Kitco News) - Gold prices have lost modest early gains and are trading just belowunchanged in late-morning dealings Monday. The gold market dipped when the U.S. dollar index rose from its daily low. A rallying U.S. stock market today isalso a negative for the safe-haven gold market. Augustgold was last down $2.00an ounce at $1,297.30. By Jim Wyckoff For Kitco NewsFollow @jimwyckoffjwyckoff@kitco....Read More
(Reuters) - U.S. stocks rose on Monday led by gains in technology shares and Friday’s robust jobs data, which gave investors heightened confidence that the U.S. economy remained strong.Apple (AAPL.O) rose 1 percent, providing the biggest boost to the Nasdaq .IXIC and S&P 500 .SPX.Microsoft rose 0.3 percent after saying it would buy privately held coding website GitHub Inc for $7.5 bil...Read More
NEW YORK (Reuters) - Prices of U.S. renewable fuel credits for 2018 hit fresh five-year lows on Monday as expectations mounted the administration under U.S. President Donald Trump would soon announce its plans for an overhaul of the biofuels program, traders said.The Trump administration is expected on Monday to announce changes in biofuels policies, including a plan to count ethanol exports towar...Read More
WASHINGTON (Reuters) - New orders for U.S.-made goods fell more than expected in April, weighed down by declines in demand for transportation equipment and machinery, but the underlying trend continued to suggest strong momentum in the manufacturing sector.Factory goods orders decreased 0.8 percent, the Commerce Department said on Monday. Data for March was revised up to show orders rising 1.7 per...Read More
(Kitco News)- Thegrowing threat of a trade war is not great news for commodity markets as itcould reduce global demand as economic growth prospects falter.Image courtesty of Panoro MineralsHowever,one junior mining explorer thinks copper is in a position to withstand theprotectionists’ assault on global markets and global growth as the base-metalsmarket faces a significant imbalance in its s...Read More
(Kitco News) - Large speculatorsincreased their net bullish positioning in gold futures and moved into a smallnet-long position for silver during the most recent reporting week for datacompiled by the Commodity Futures Trading Commission.During the week-longperiod to May 29 covered by the report, Comex August gold rose $6.70 to$1,304.10 an ounce, while July silver lost 20.2 cents to $16.373.Net lo...Read More
OTTAWA/WASHINGTON (Reuters) - Prime Minister Justin Trudeau this week plays host to a summit of the Group of Seven leading industrialized nations with six of the seven members outraged at the United States over a slew of recent moves by President Donald Trump.This year’s meeting is likely to be overshadowed by Trump’s planned summit with North Korean leader Kim Jong Un, tentatively sch...Read More
ANKARA (Reuters) - Progress will be made regarding Kurdish militants in Syria, Turkish Foreign Minister Mevlut Cavusoglu was quoted as saying on Monday, after holding talks with his U.S. counterpart in Washington.Turkey’s state broadcaster TRT Haber also quoted Cavusoglu as saying that his talks with U.S. Secretary of State Mike Pompeo were “very successful”, while private news c...Read More
(Bloomberg) - Gold may have posted two straight months of declines, but is set to shrug off the blues and rise in 2019 as the dollar weakens.The precious metal will start to rebound in the final quarter of this year to average $1,375 an ounce in the last three months of next year and could touch a high of $1,400, said Bart Melek, global head of commodity strategy at TD Securities in Toronto. That...Read More
(Reuters) - Microsoft Corp (MSFT.O) said on Monday it would buy privately held coding website GitHub Inc for $7.5 billion in an all-stock deal to expand its clout among software developers.GitHub supplies coding tools for developers and calls itself the world’s largest code host with more than 28 million developers using its platform.“Microsoft is a developer-first company, and by joi...Read More
The FAANG stock was on a four-day winning streak heading into today's tradingData privacy concerns that plagued Facebook Inc (NASDAQ:FB) last spring resurfaced over the weekend, after the New York Times reported the company gave a number of its partnered phone and device makers -- such as Apple (AAPL) and Amazon (AMZN) -- unauthorized access to user data. In response, Facebook has insisted the pa...Read More
(Reuters) - Wall Street's three main indexes opened higher on Monday led by gains in Microsoft and Apple as well as Friday's robust jobs data which continued to boost investor optimism on strength in the U.S. economy.The Dow Jones Industrial Average .DJI rose 92.34 points, or 0.37 percent, at the open to 24,727.55.The S&P 500 .SPX opened higher by 7.05 points, or 0.26 percent, at 2,741.67....Read More
(Reuters) - Facebook Inc (FB.O) on Sunday rejected claims by the New York Times that it had allowed Apple and other major device makers “deep” access to users’ personal data saying any such links were tightly controlled and largely subject to users’ consent.Facebook shares fell 1.3 percent to $191.50 before the bell on Monday, in what was otherwise an upbeat start for Wall...Read More