WASHINGTON (Reuters) - President Donald Trump’s nominee to be CIA director, Gina Haspel, said on Wednesday the United States needs to do more to address what she described as China’s “overt and illicit efforts to steal” U.S. technology.U.S. government agencies, and members of Congress, have recently made a series of moves aimed at stopping or reducing access by some Chinese...Read More
NEW YORK (Reuters) - Galaxy Digital Capital Management LP, the cryptocurrency asset management firm founded by former macro hedge fund manager Mike Novogratz, launched an index on Wednesday in cooperation with Bloomberg to track performance of 10 virtual coins, the companies said in a statement.The index, called Bloomberg Galaxy Crypto Index, will track some of the largest virtual currencies tradi...Read More
(Kitco News) - Kitco aficionados, it isnow time to have your say in where you think gold prices are heading in theshort-term.Will gold prices go higher, lower or remain unchanged nextweek? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12PM EDT) along with the results fromour market professional survey.Readers can also se...Read More
NEW YORK (Reuters) - The dollar fell on Wednesday from its strongest levels in 2018 against a basket of currencies due to mild profit-taking, but is expected to resume its rise due to solid U.S. economic growth and more interest rate increases from the Federal Reserve.The weaker greenback stemmed from a bounce in the euro, which hit a fresh year-to-date low in earlier trading.“There’s...Read More
(Kitco News) - Gold priceshave moved to their session highs in late-morning tradingWednesday, at the same time the U.S. dollar index has dropped below unchangedand is trading near its daily low. Some short covering in the futures marketand perceived bargain hunting in the cash market are helping to lift the yellowmetal. Junegold futures were last up $3.00 an ounce at $1,316.80. By Jim Wyckof...Read More
May 9 (Reuters) - Canada's main stock index climbed higher on Wednesday, as oil prices hit 3-1/2-year highs after President Donald Trump pulled the United States out of an international nuclear deal with Iran.* At 9:42 a.m. ET (1342 GMT), the Toronto Stock Exchange's S&P/TSX Composite Index rose 38.91 points, or 0.25 percent, to 15,881.62.* The U.S. withdrawal from the deal with Iran cast unce...Read More
WASHINGTON (Reuters) - U.S. producer prices barely rose in April after strong gains in the first quarter, held down by a moderation in the cost of both goods and services, which could ease fears that inflation pressures were rapidly building up.The Labor Department said on Wednesday its producer price index for final demand edged up 0.1 percent last month after increasing 0.3 percent in March.That...Read More
Both names have been heavily targeted by short sellersT2 Biosystems Inc (NASDAQ:TTOO) was upgraded to "buy" from "neutral" at Janney, after the sepsis specialist reported first-quarter revenue of $2.3 million -- well above the consensus estimate of $1.4 million. Leerink also chimed in, boosting its price target to $5 from $4 -- though this is still a discount to last night's close at $6.10. Nevert...Read More
The success of 'Black Panther' helped offset the struggling TV sectorShares of entertainment mogul Walt Disney Co (NYSE:DIS) are trading lower this morning, despite the company's fiscal second-quarter earnings beat. The firm said higher theme-park revenue and the success of "Black Panther" helped offset weakness in the TV division, and CEO Bog Iger teased the possibility of more "Avengers" movies...Read More
Saikat Chatterjee, Ritvik CarvalhoLONDON (Reuters) - The dollar’s near-5 percent rally against a basket of currencies in the space of just three weeks has brought it up against some critical technical levels, which could give fresh legs to the greenback if successfully broken.The initial catalyst was the realization that some of the world’s biggest central banks, notably the European C...Read More
Makini Brice, Susan HeaveyWASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday that three Americans detained by North Korea have been released and are on their way home with Secretary of State Mike Pompeo.Trump said he will greet Pompeo and the Americans when they land at Andrews Air Force Base outside Washington at 2 a.m. EDT (0600 GMT) Thursday morning.“I am pleased to info...Read More
(Kitco News)- Gold-backed exchange-traded fundssaw their most significant level of inflows last month in more than a year as gold prices rose to a two-month high, according to the latest data compiled by theWorld Gold Council.The monthly investment data showthat global gold ETFs increased their holdings by 72.2 tonnes to 2,481 tonnesin April. This is the second straight month of inflows and follow...Read More
Analysts remain bullish on the social media giantFacebook Inc (NASDAQ:FB) stock is up 0.5% to trade at $179.78 this morning, after the company announced an extensive restructuring of executive responsibilities, including a new team dedicated to blockchain and privacy concerns. The company will now be divided into three divisions called "Family of apps," "New platforms and infra," and "Central pr...Read More
Kinross Gold Corp. is the latest miner to be hit by changing policies in Africa as governments seem increasingly willing to upend historic deals with foreign companies in their quest for more mining revenue.Mauritania's rejection of a key permit to expand a Kinross project, and a proposed mining code review in Ghana, dealt a double blow to the Toronto-based miner, sending its shares down the most...Read More
LONDON (Reuters) - U.S. asset manager MFS Investment Management said it will seek permission to create a European Union hub in Luxembourg as it positions itself for Britain’s exit from the bloc.MFS, which is owned by Canadian insurer Sun Life Financial (SLF.TO) and traces its roots to the launch of the first U.S. investment trust in 1924, has yet to make a final decision on the scale of any...Read More
(Reuters) - Wall Street was set to open higher on Wednesday, with shares of energy companies getting a boost from surging oil prices after President Donald Trump decided to pull the United States out of a nuclear deal with Iran.Oil rose more than 3 percent to 3-1/2 year highs after Trump announced the “highest level” of economic sanctions against the OPEC member, casting uncertainty ov...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump’s nominee to head the CIA will promise lawmakers on Wednesday she will never resume a program of harsh interrogations, often denounced as torture, that has been the major issue complicating her confirmation.Democratic senators have vowed to question nominee Gina Haspel, currently the spy agency’s acting director, about the issue at her...Read More
Standard Chartered says “the floor forprices has risen” in the gold market without requiring significant physicaldemand to cushion the downside. The precious metal remains range-bound -although at the lower end of the band - but price dips have not been deepenedby a soft physical market, the bank says. “We continue to expect prices to testthe downside in the lead-up to the June F...Read More
Mexican authorities have granted Canada's First Majestic Silver (NYSE:AG) (TSX:FR) their antitrust clearance to go ahead with its planned acquisition of fellow miner Primero Mining (TSX:P), in a cash and stock deal valued at $320 million, including debt.The approval was the final government agency's permission the parties required to close the deal, Primero said in a statement.With the friendly...Read More
Crude futures are trading higher this morningDow Jones Industrial Average (DJI) futures are trading above fair value, climbing alongside blue-chip energy stocks Chevron (CVX) and Exxon Mobil (XOM) as oil prices turn higher in the wake of the the U.S. decision to withdraw from the Iran nuclear agreement. At last check, June-dated crude futures are up 2.7% at $70.91 per barrel. Investors are also d...Read More