NEW YORK (Reuters) - A Lamborghini costs about 23 bitcoins, which might not seem like much, unless you owned the cryptocurrency in December, in which case you could have bought one of the $200,000 luxury cars for just 10 of them.Such was the conversation at Consensus, a three-day crypto event happening in Midtown Manhattan this week. Lamborghinis lined the entrance for a publicity stunt on Monday,...Read More
* 10-yr US yield nears 3.1 pct, hits highest since July 2011* Data shows U.S. consumer spending picking up* Dollar hits 2018 peak, Wall Street indexes drop* Oil prices gain, boosted by Iran fears (Updates with afternoon trading)NEW YORK, May 15 (Reuters) - The yield on the benchmark U.S. 10-year Treasury note hit its highest point in about seven years on Tuesday on the heels of a report that indic...Read More
(Kitco News) - Gold’s drop below its critical psychological level of $1,300 an ounce was in the cards for some time amid fading geopolitical risks and rallying U.S. dollar, according to analysts.Gold prices breached the carefully watched support of $1,300 earlier on Tuesday, as the U.S. dollar index climbed to a five-month high and 10-year bond yields pushed above 3% for the first time since...Read More
Lanci Gold Weekly is a subscription newsletter distributed to clients Sunday evening. Institutional clients also receive trade alerts.Gold in America is proud to be exclusive in its ability to post Vince's newsletter weekly on Tuesdays starting this week.- Staff Editor. Distributed Sunday Evening.Summary:"Sell soon, buy later?"The path lower is easier. Whether to buy the dip (exhaustion) or sur...Read More
CSIQ made a big move after earnings last quarterCanadian Solar Inc. (NASDAQ:CSIQ) was able to snap an ugly streak of post-earnings performances back in March, when the shares gained 7.2% after the alternative energy company reported a better-than-expected fourth-quarter profit. The stock will try to carry this momentum into the next earnings release, scheduled for before the open tomorrow, while o...Read More
(Kitco News)- Gold and silver prices are sharply lower in early-afternoon U.S. trading Tuesday.Gold fell to a five-month low today. Importantly, the yellow metal has fallenwell below major technical support at $1,300.00. The U.S. dollar index surgedto a five-month high today, as the currency has been a significantly bearishforce working against the precious metals bulls. June Comex gold futures we...Read More
Plus, an auto parts retailer climbing the Nasdaq Stocks are sliding today, with the Dow's chances of a ninth straight win appearing quite bleak. Among stocks making particular noise today, biotech Inovio Pharmaceuticals Inc (NASDAQ:INO) and Chinese automotive parts manufacturer Sorl Auto Parts, Inc. (NASDAQ:SORL) are enjoying strong upside moves, while online retailer Vipshop Holdings Ltd (NYS...Read More
Mr. Christian Grijalva reportsSAN MARCO ACQUIRES ESPIRITU SMR POLYMETALLIC PROPERTY: INCREASES DISTRICT SCALE EXPLORATION FOOTPRINT IN THE SAHUARIPA DISTRICT OF EASTERN SONORA STATESan Marco Resources Inc. has been awarded the Espiritu SMR property in the Mexican government's recent mineral concession lottery.Espiritu SMR is located approximately 230 kilometreseast of Hermosillo and 15 kilometres...Read More
TTWO options traders have been unusually bullish in recent monthsVideo game maker Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is slated to report its fiscal fourth-quarter earnings after the market closes tomorrow, May 16. On the charts, TTWO is up roughly 20% from its recent lows near $95. Longer term, the stock has added 62% over the past year, and is within a chip-shot of its Feb. 1 recor...Read More
Home Depot's earnings took a major toll on the Dow todayStocks are trading lower at midday, with the Dow Jones Industrial Average (DJI) plummeting 219 points at its intraday low on the back of Home Depot's (HD) disappointing sales. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also significantly lower, with housing stocks among the top decliners. A surging 10-year Treasury yield also...Read More
Implied volatilities collapsed after last week's earnings reportNvidia Corporation (NASDAQ:NVDA) has been trending higher over the past two years -- up more than 500% from its May 2016 lows south of $40. While the shares have pulled back since last Thursday's earnings-related record high of $260.50 -- down 4.6% today at $243.61 -- they appear to be finding a foothold in the $240 region, home to it...Read More
Gold on Tuesday suffered its worst trading day in 17 months after a recovery in the value of the US dollar and seven-year highs for yields on the country's government bonds.The most active gold futures contract on the Comex market in New York dropped to a low of $1,288.20 an ounce, down over 2% or more than $28 an ounce compared to Monday's settlement. Volumes were massive with 43m ounces of June...Read More
HONG KONG, May 15 (Reuters) - Privately held gold trader Sakthi Trading Group is planning to build two gold refineries in Africa and is looking for investors for the projects, company executives said on Tuesday.The group, headquartered in the United Arab Emirates, is seeking a total investment of $246 million for the refineries and related processing centres, in Ghana and the Democratic Republic o...Read More
Short-term options are pricing in relatively low volatility expectationsChemical giant DowDuPont Inc (NYSE:DWDP) has been stuck in a channel of lower highs and lows since its late-January peak, down more than 13%. In mid-March, the shares breached the $67-$68 neighborhood -- where they were trading when Dow and DuPont merged back in early September -- and several unsuccessful attempts to reclaim t...Read More
(Kitco News)- Gold prices have fallen belowcritical support at $1,300 an ounce and while the market is oversold, there isstill room for prices to move lower, according to some analysts.Gold has finally moved below itsrecent range as the market has been unable to withstand rising interest-rateexpectations, which have pushed U.S. 10-year bond yields above 3%, theirhighest level since 2011. June gold...Read More
The analyst isn't worried about the NAND market, eitherShares of Micron Technology, Inc. (NASDAQ:MU) are popping today, after Stifel boosted its price target to $101 from $95 -- a nearly 91% premium to last night's close, and the highest MU price target on Wall Street. The brokerage firm cited expectations for rising first-quarter DRAM prices, and said, "the NAND flash market is growing and far fr...Read More
Getty ImagesWorkers on an Ashburn, Va., townhouse. The numbers: Builder confidence in the market for newly built single-family homes rose two points to a level of 70 in May, according to the National Association of Home Builders/Wells Fargo housing market index released Tuesday. The Econoday-compiled consensus was for a 69 reading. April's reading was downwardly revised a point to 68. Any number...Read More
* Euro slips to fresh 2018 low vs dollar * Sterling weak despite British employment jump (New throughout, updates rates and comments as of U.S. marketopen; new byline, changes dateline; previous LONDON) NEW YORK (Reuters) - The U.S. dollar rallied against a basket of major currencies on Tuesday to its highest since December, helped by a rise in U.S. Treasury yields and as data showed U.S. retail s...Read More
Tesla stock remains heavily shortedTesla Inc (NASDAQ:TSLA) stock is down 2.3% to trade at $285.20 this morning, after Morgan Stanley issued a price-target cut to $291 from $376 and slashed its profitability forecasts. The analyst in coverage expressed concerns about Model 3 production and the recent executive turnover, saying TSLA is trading near fair value. On the other hand, Electrekjust got it...Read More