(Kitco News) - Gold and silver prices moved moderately higher in the wake of a somewhat dovish FOMCstatement from the Federal Reserve Wednesday afternoon. The Fed officialssignaled they are not worried about inflationary price pressures becomingproblematic. Such suggests the U.S. central bank won't become too aggressive onraising interest rates. June Comex gold futures were last up $4.20 an ounce...Read More
MTCH shed more than one-fifth of its value on TuesdayShares of online dating specialist Match Group Inc (NASDAQ:MTCH) had their worst day ever yesterday, shedding 22.1% on news that Facebook (FB) was launching new dating services. MTCH stock is down another 3.7% today at $35.34, with a downgrade at Jefferies to "hold" from "buy" rubbing salt in the proverbial wounds. The brokerage firm also slashe...Read More
Lindsay Dunsmuir, Howard SchneiderWASHINGTON (Reuters) - The Federal Reserve held interest rates steady on Wednesday and expressed confidence that a recent rise in inflation to near the U.S. central bank’s 2 percent target would be sustained, leaving it on track to raise borrowing costs in June.The Fed’s rate-setting committee also downplayed a recent slowdown in economic and job growt...Read More
(Kitco News)- A cautiousFederal Reserve, not anxious to raise interest rates faster than expected, isbreathing new life into the gold market as prices bounce off recent four-monthlows. As expected, the Federal Reserve kept interest rates unchanged within a range between 1.50% and 1.75%. However, cautious comments from the central bank regarding inflation pressures have been positive for the yellow...Read More
WASHINGTON (Reuters) - North Korea must commit to dismantling its nuclear weapons program, new U.S. Secretary of State Mike Pompeo said on Wednesday as he formally took the reins of the State Department with a strong endorsement from U.S. President Donald Trump.Trump made his first visit to the State Department, where he was greeted by loud applause from several hundred people gathered in the Benj...Read More
WASHINGTON (Reuters) - White House lawyer Ty Cobb is leaving his post, likely by the end of May, the New York Times quoted him as telling the paper on Wednesday.He will likely be replaced by veteran Washington lawyer Emmet Flood, who advised former President Bill Clinton in impeachment proceedings, the Times reported, citing two people briefed on the matter.Neither Cobb nor Flood immediately respo...Read More
WASHINGTON (Reuters) - The Trump administration is considering executive action to restrict some Chinese companies' ability to sell telecommunications equipment in the United States, the Wall Street Journal reported on Wednesday.The move, which if implemented would likely affect Huawei Technologies Co Ltd [HWT.UL] and ZTE Corp, two of the world's major telecommunications equipment manufacturers, w...Read More
Previous signals have preceded big short-term gains for the sharesThe shares of drugmaker Immunomedics, Inc. (NASDAQ:IMMU) have been virtually unstoppable lately, pacing for a fourth straight weekly gain and fresh off a 16-year high. What's more, IMMU is one of the few stocks currently trading near new highs while simultaneously sporting attractive short-term option premiums -- even with earnings...Read More
(Reuters) - U.S. stocks edged lower on Wednesday, with declines in biotechnology and insurers negating Apple’s gains after strong results, as investors await the Federal Reserve’s policy announcement.The U.S. central bank is expected to stand pat on interest rates and investors will focus on the Fed statement, expected at 2:00 p.m. ET, for clues on the path of interest rates and its vi...Read More
(Reuters) - Health and Human Services Secretary Alex Azar on Wednesday said President Donald Trump wants to go further in lowering drug prices, an issue he campaigned on during the 2016 presidential race.“HHS is currently working with the President on a comprehensive strategy to solve these problems,” Azar said in a speech at World Health Care Congress. “We’ll be building o...Read More
Mr. Matthew Hornor reportsMAPLE GOLD REPORTS DRILL RESULTS FROM CENTRAL PORPHYRY ZONE AT DOUAY: 158.2M @ 1.25 G/T AU, INCLUDING 52 METRES @ 3.53 G/T AUMaple Gold Mines Ltd. has released additional drill results from its current winter drilling campaign at the Douay gold project. Hole DO-18-216 intersected52 metres grading 3.53 grams per tonne gold (uncut), within a broader 158.2-metre interval gra...Read More
MONTREAL, PARIS (Reuters) - Bombardier (BBDb.TO) and Airbus (AIR.PA) unveiled to employees the top leaders for the CSeries program, in a further step towards finalizing a deal that will see the European planemaker taking control of the Canadian jetliner, according to a memo to staff on Wednesday that was seen by Reuters.Philippe Balducchi, head of performance management for Airbus Commercial Aircr...Read More
CRUS and QRVO are on track to report tonight, while SWKS will report tomorrowIt's the thick of earnings season, and Apple (AAPL) is dominating headlines today with its impressive results. In response, several Apple suppliers are trading higher today including Cirrus Logic, Inc. (NASDAQ:CRUS), Qorvo Inc (NASDAQ:QRVO), and Skyworks Solutions Inc (NASDAQ:SWKS). The three names will remain in focus,...Read More
LONDON (Reuters) - The Bank of England has named former Schroders and Morgan Stanley banking analyst Huw van Steenis as a senior adviser on the future of the British financial system.During the appointment - which the BoE said was likely to last six to nine months - Van Steenis will help BoE staff study new financial technology, emerging market capital flows and the transition to a low-carbon econ...Read More
Apple reported an impressive earnings beat last nightBuilding anticipation ahead of this afternoon's Fed policy decision is overshadowing an Apple (AAPL) earnings beat, with theDow Jones Industrial Average (DJI) and S&P 500 Index (SPX) lower at midday. In addition, Travelers (TRV) stock is slipping amid insurance-sector woes, further weighing on the blue-chip index. The Nasdaq Composite (IXIC) is...Read More
Mr. Vishal Gupta reportsCALIFORNIA GOLD ANNOUNCES NEW HIGH-GRADE ASSAYS FROM THE QUEEN SPECIMEN ZONE - INTERSECTS 2.06 G/T AU ACROSS 19.3 M, INCLUDING 9.14 G/T AU ACROSS 0.5 M AND 5.11 G/T AU ACROSS 3.4 M AT FREMONT (TRUE WIDTHS ARE APPROXIMATELY 91% OF REPORTED INTERVALCalifornia Gold Mining Inc. has releasednew assay results from the continuing resource drilling program at the Queen Specimen zo...Read More
NEW YORK (Reuters) - Oil prices were flat on Wednesday, with U.S. crude up slightly as the market shrugged off a surprise build in U.S. crude inventories because the move was largely concentrated on the U.S. West Coast.Crude stockpiles posted a surprise build of 6.2 million barrels in the week, according to the U.S. Energy Information Administration. [EIA/S]. Nearly 5 million barrels were concentr...Read More
Call writers may be hoping to profit on a post-earnings volatility crushShort-term volatility expectations are elevated on Tesla Inc (NASDAQ:TSLA) ahead of the electric carmaker's first-quarter earnings report, due out after tonight's close, per the stock's 30-day at-the-money implied volatility of 54% -- in the 90th percentile of its annual range. And while this isn't too surprising given the unc...Read More
BEIJING (Reuters) - China's foreign ministry on Wednesday reiterated that all sides should continue to uphold the Iran nuclear agreement, and that the International Atomic Energy Agency (IAEA) has said many times Iran is in compliance with the deal.Speaking at a daily news briefing, ministry spokeswoman Hua Chunying said China had noted reports about Israeli Prime Minister Benjamin Netanyahu unvei...Read More
• A follow-through pickup in the US bond yields helps limit USD slide and cap gains. • Fading safe-haven demand also does little to provide any additional boost. • The highly anticipated FOMC statement would help determine the near-term trajectory. Gold held on to its recovery gains and now seems to have entered a bullish...Read More