By Yianni SakarellosThe Dow Jones Industrial AverageInvestors experienced highly volatile equity markets in Q1 2018, with the Dow Jones Industrial Average (DJIA) plunging 1,600 points at its session lows on February 5, 2018. The DJIA closed down 1,175 points that day, its worst point decline in history.Market participants were and still are primarily fearing uncertainty stemming from the new Feder...Read More
PNC and ALLY stocks, for example, are trading just above their 200-day moving averagesMany market watchers expected bank stocks to outperform in 2018 due to higher interest rates. But a quick glance at charts for some of the biggest financial names shows their shares near or below breakeven on a year-to-date basis. This weakness could prove to be a buying opportunity, however, especially if you di...Read More
(Reuters) - U.S. stocks were whipsawed on Tuesday on conflicting reports on whether President Donald Trump will withdraw the United States from the Iran nuclear deal.The stocks pared losses to trade flat after CNN reported Trump was expected to allow sanctions to go forward on Iran, but would not withdraw from the deal.But those moves evaporated after the New York Times reported that Trump told Fr...Read More
WASHINGTON (Reuters) - A senior White House official on Tuesday denied a New York Times report that said U.S. President Donald Trump had told France’s President Emmanuel Macron that he would be withdrawing from the Iran nuclear deal.“The president did not tell Macron those things,” the official said.Reporting by Steve Holland; Writing by Makini Brice; Editing by Bill Trott Discl...Read More
MURNAU, Germany (Reuters) - Senior members of Chancellor Angela Merkel’s conservative bloc pushed back on Tuesday against criticism that Germany is blocking euro zone reform proposals by French President Emmanuel Macron.Merkel’s CDU-CSU bloc is opposed to any pooling of debts in Europe, any fiscal policy without national parliamentary control and the European Commission’s proposa...Read More
NEW YORK (Reuters) - Oil prices dived as much as 4 percent on Tuesday as media reports rattled markets with doubts about whether U.S. President Donald Trump would withdraw Washington from the Iran nuclear deal as most had expected.A CNN report first raised doubts about whether Trump would impose sanctions as quickly as the market had expected, a decision that would reduce global crude supplies and...Read More
(Kitco News) - Gold prices saw a modest rally in early-afternoon U.S. trading Tuesday, as U.S. President Donald Trump announced the U.S. is pulling out of the 2015 agreement with Iran regarding that nation halting its nuclear weapons program. However, prices have pulled back a bit from session highs scored just after Trump started his speech. Still, gold prices are modestly above where they were j...Read More
With limited upside for precious metal prices, miners are refocusing on productivity, says Nathan Flesher, who works for McKinsey's mining arm.Gold miners are looking at a rangebound price for bullion at the $1,300/oz level. But with a limited outlook for any significant moves for gold upwards, miners must generate more output from capital spent to attract investor interest. Flesher says measu...Read More
(Kitco News)- Warren Buffet, CEO ofBerkshire Hathaway, is known for his pernicious views on gold but his latestbout of negativity misses the point of yellow metal’s true investment value,according to some analysts.The Oracle of Omahamade some ripples through the gold market over the weekend as he compared theprecious metal to the S&P 500. During his presentation Saturday at theBerkshire...Read More
Traders are on edge as the world awaits Trump's decision on IranIt's been a volatile day for stocks, with major equity indexes bouncing between positive and negative territory as investors anxiously await President Donald Trump's decision on whether or not to move forward with the nuclear deal with Iran. The president is expected to make his announcement from the White House at 2:00 PM Eastern. Ag...Read More
GENEVA (Reuters) - The United States is threatening the World Trade Organization with “three hard blows”, including taking the system of judicial appointments hostage, China’s Ambassador to the WTO, Zhang Xiangchen, told its membership on Tuesday.Zhang said it was “dangerous and devastating” that the United States was challenging the WTO’s fundamental guiding pr...Read More
A short squeeze could help fuel a big bounceThe shares of Array Biopharma Inc (NASDAQ:ARRY) have struggled since peaking two months ago. However, ARRY stock has pulled back to a historically supportive trendline, suggesting it could be time to buy the dip. What's more, Array Biopharma is scheduled to report earnings tomorrow morning, and the shares have a history of rallying after quarterly releas...Read More
Valeant said it will change its name to Bausch Health in JulyShares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) are surging today -- up 15.9% to trade at $21.05, and on track for their best day since Nov. 7 -- after the drugmaker reported stronger-than-forecast first-quarter adjusted profit and sales, boosted its full-year revenue forecast, and said it is changing its name to Bausch Health Comp...Read More
Manufacturers, particularly in the technology and automotive sectors, are under increasing pressure from customers to demonstrate that products are made with responsibly-sourced materials. Transparent supply chains that trace where the materials come from and what practices were used to produce them are expected by shareholders and the public. But unlike similar programs gaining momentum in other...Read More
NEW YORK (Reuters) - Mundane back-office concerns are giving pause to potential investors in digital currency hedge funds who have otherwise warmed up to the volatile asset class.Traditional custodian banks such as Bank of New York Mellon Corp (BK.N) and State Street Corp (STT.N) do not yet handle crypto assets like bitcoin. That means hedge funds have been forced far from Wall Street to places li...Read More
LONDON (Reuters) - Oil prices eased on Tuesday from 3-1/2-year highs they hit on worries the United States may be set to pull out of a key nuclear accord with Iran, but robust tech sector gains in Asia helped support world stocks near one-week highs.U.S. President Donald Trump will announce at 1800 GMT whether Washington will withdraw from a deal that eased economic sanctions on Iran in exchange f...Read More
Today Thomson Reuters released the GFMS Gold Survey 2018, the 51st in the series of annual Surveys, looking at the shifts and developments in the global gold markets, their fundamentals and their drivers over the year and setting the scene for the future. As usual the prospect for higher price depends on risk hedging at the professional level while grass roots activity should support a higher base...Read More
Getty ImagesThe economy is still adding plenty of new jobs almost nine years after the end of the Great Recession. The numbers: The number of job openings in the U.S. surged in March to a record 6.55 million from 6.1 million, showing companies are still eager to add workers with the economy growing soundly almost nine years after the last recession. What happened: Professional and white-collar...Read More
GENEVA (Reuters) - The new U.S. ambassador to the World Trade Organization told the WTO’s membership on Tuesday that something had gone “terribly wrong” with judges at the world body and that China’s arguments showed Beijing was living in a fantasy.Addressing the WTO’s General Council for the first time, Dennis Shea said the WTO’s rules had substantial value and...Read More
WASHINGTON/PARIS (Reuters) - U.S. President Donald Trump is expected to announce on Tuesday that he is pulling out of the Iran nuclear deal, European officials said, after they struggled to persuade him that the accord has halted Iran’s nuclear ambitions.One senior European official closely involved in Iran diplomacy said U.S. officials had indicated late on Monday that Trump would withdraw...Read More