(Kitco News) - May could have a few surprises up its sleeve for gold traders, according to INTL FCStone, including Iranian nuclear deal as well as a close below $1,303.Gold’s trading range for this month is projected to be between $1,285 and $1,338, commodities consultant with INTL FCStone Edward Meir said in Monthly Market Overview report published on Wednesday.Some of the main downward pri...Read More
Steve Holland, Arshad MohammedWASHINGTON (Reuters) - U.S. President Donald Trump has all but decided to withdraw from the 2015 Iran nuclear accord by May 12 but exactly how he will do so remains unclear, two White House officials and a source familiar with the administration’s internal debate said on Wednesday.There is a chance Trump might choose to keep the United States in the internationa...Read More
SYDNEY (Reuters) - The Commonwealth Bank of Australia has been forced to reveal it lost the records of almost 20 million accounts and decided not to inform its customers, another blow to an institution already reeling from multiple scandals.CBA’s acting Group Executive, Retail Banking Services, Angus Sullivan accepted responsibility on YouTube after BuzzFeed Australia broke the story on Wedn...Read More
Don’t rock the boat baby, don’t tip the boat over. These lyrics by the Hues Corporation are incredibly appropriate when considering today’s statement made by the Federal Reserve following this month’s FOMC meeting. The statement indicated that they would leave interest rates as they are and maintain their projected pace to raise rates two more times this year. Collectively...Read More
The Federal Open Market Committee held the funds rate at a target of 1.5 percent to 1.75 percent, as expected. The committee noted that "overall inflation and inflation for items other than food and energy have moved close to 2 percent." The Fed also noted some improvements in the economy, saying, "business fixed investment continued to grow strongly." Jeff Cox| @JeffCoxCNBCcom Published 7 Hours...Read More
Yamana Gold (TSX:YRI)(NYSE:AUY) announced today that gold production exceeded its plan for the first quarter of 2018.In a media statement, management detailed that gold equivalent ounce production from Yamana mines for the first quarter was 211,246, including 199,555 ounces of gold and 899,261 ounces of silver. Total attributable gold production was 248,088 ounces of gold, including attributable p...Read More
Yamana Gold (TSX:YRI)(NYSE:AUY) announced today that gold production exceeded its plan for the first quarter of 2018.In a media statement, management detailed that gold equivalent ounce production from Yamana mines for the first quarter was 211,246, including 199,555 ounces of gold and 899,261 ounces of silver. Total attributable gold production was 248,088 ounces of gold, including attributable p...Read More
The Nasdaq also turned lower in afternoon tradingThe Dow briefly turned higher this afternoon, but failed to hold upside momentum, losing steam after the Fed decided to keep interest rates unchanged, as expected. The central bank said inflation has "moved close to" its 2% target,fueling expectations for a June rate hike. What's more, even an Apple-led tech rally failed to keep the Nasdaq afloat. I...Read More
NEW YORK (Reuters) - The volatility that stopped the bull market in U.S. stocks in its tracks after hitting record highs in January is rewarding stock-picking fund managers.Approximately 60 percent of U.S. actively managed large-cap funds are beating their benchmarks for the year to date, the best performance through April for any year since at least 2009, according to research from Bank of Americ...Read More
BEVERLY HILLS, Calif. (Reuters) - The titans of finance who flock to the annual Milken Institute Global Conference each spring say they believe their quest for profits can also make the world a better place.At the Beverly Hills, California, event featuring lavish parties, celebrities and big Wall Street names, speakers argued that chasing returns does not have to come with a social or environmenta...Read More
* Fed keeps rates unchanged, on track to raise rates in June* Apple shares rise, day after results (Adds details on reaction to the Fed, oil settlements)By Caroline ValetkevitchNEW YORK, May 2 (Reuters) - The dollar was off its highs of the day and Treasury yields eased on Wednesday after the Federal Reserve held interest rates steady and gave no signals it was in a rush to increase the pace of ra...Read More
BRUSSELS (Reuters) - The European Commission proposed a bigger new multi-year budget on Wednesday that will trigger battles among member states over how to fill the funding gap left by Britain’s exit next year.The Dutch led the charge for rich northern states unwilling to step into the Brexit breach: “A smaller EU ... should have a smaller budget,” Prime Minister Mark Rutte said....Read More
NEW YORK (Reuters) - U.S. stocks edged higher on Wednesday after the Federal Reserve released its policy announcement, leaving interest rates unchanged.In its announcement, the U.S. central bank expressed a confident economic outlook, saying that activity had expanded at a moderate rate and that inflation was nearing its 2-percent target. The Fed unanimously decided to keep its lending rate in a t...Read More
Two of the names are now at risk for downgradesThe Nasdaq is outperforming today, thanks to a positive earnings reaction for Apple (AAPL). Nevertheless, drug stocks Akorn, Inc. (NASDAQ:AKRX), Esperion Therapeutics Inc (NASDAQ:ESPR), and Gilead Sciences, Inc. (NASDAQ:GILD) are all trading dramatically lower. Here's a closer look at what has shares of AKRX, ESPR, and GILD near the bottom of the...Read More
* Fed holds interest rates steady* Dollar weakens after Fed statement* Platinum near December lows(Recasts throughout; updates prices, headline, market activity and comments)By Renita D. Young and Pratima DesaiNEW YORK/LONDON, May 2 (Reuters) - Gold prices extended gains on Wednesday after the U.S. Federal Reserve's dovish remarks weakened the dollar against a basket of currencies, yet bullion rem...Read More
LONDON (Reuters) - Britain’s upper house on Wednesday voted to give parliament the power to stop any Brexit deal that might restore a hard border across the island of Ireland, in the latest defeat for Prime Minister Theresa May’s government.The House of Lords voted 309 to 242 in favor of the amendment to the government’s key Brexit blueprint that will sever political, financial a...Read More
Apple's CFO warned of falling NAND pricesWhile Apple suppliers trade higher following the iPhone maker's quarterly report, chip stock Micron Technology, Inc. (NASDAQ:MU) is sinking. The shares were last seen down 1.7% at $46.01, after the chief financial officer of Apple, Luca Maestri suggested NAND prices could drop and DRAM prices are "near the peak." Nevertheless, a number of options traders ap...Read More
BERLIN (Reuters) - German Chancellor Angela Merkel said on Wednesday that the nuclear deal with Iran should not be canceled but its negotiating framework needed to be broadened.Israeli Prime Minister Benjamin Netanyahu gave details on Monday of what he said was evidence of a secret Iranian nuclear weapons program, in a bid to encourage the United States to pull out this month of a 2015 nuclear dea...Read More
• Resurgent USD demand prompts some fresh selling during the early NA session. • Weaker opening in the US equity markets/retracing US bond yields help limit downside. • Investors await FOMC announcement before positioning for near-term direction. Gold finally broke down of its European session consolidation phase and has now sur...Read More
(Reuters) - Apple Inc is betting on services such as app downloads and music subscriptions to help drive growth as the cell phone market matures, but the company faces tough competitors and potentially low profit margins in some of its target areas.Investors support Apple’s effort to look beyond its signature product, the iPhone, for growth. A 31 percent increase in services revenue to $9.2...Read More