MID held above its 200-day moving average last week, even as the SPX breached its ownThe S&P 500 Index (SPX) rattled investors last Monday, April 2, by closing below its 200-day moving average for the first time in nearly two years. Lost in the sea of headlines about this benchmark trendline breach was the fact that the S&P MidCap 400 Index (MID) one-upped its bigger-cap counterpart by battling ba...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump will not attend the Latin American summit this week in order to focus on the Syria crisis, the White House said on Tuesday.Trump was scheduled to arrive in Peru on Friday to attend the summit and then visit Colombia.“At the president’s request, the vice president will travel in his stead. The president will remain in the United States...Read More
China's president supported free trade and said the 'Cold War mentality' is outdatedFutures on the Dow Jones Industrial Average (DJI) are more than 350 points above fair value, after Chinese President Xi Jinping signaled free trade in the country's manufacturing and financial sectors, said Beijing would strengthen intellectual property protection, and warned against a "Cold War mentality" in his s...Read More
UBS analyst Steven Strycula believes Hershey's competitors can steal market shareChocolate king Hershey Co (NYSE:HSY) was downgraded to "sell" from "neutral" by UBS analyst Steven Strycula, who also dropped his price target to $90 from $106. Citing an internal report, Strycula says consumers have been buying chocolate less frequently and have shifted to healthier snacks. Strycula also noted the bi...Read More
Gold's immediate trend still up despite calming of global trade fears.Gold price should remain elevated as long as equity market is choppy.Emerging market trend is also supporting gold's near-term trend.Gold kept its immediate-term uptrend intact on Monday despite a much calmer financial market. Gold has benefited from the recent headline-driven turbulence in the global equity market, yet...Read More
Mr. Eric Fier reportsSILVERCREST CONTINUES TO EXPAND HIGH-GRADE FOOTPRINT FOR BABICANORA VEIN; 4.0 METRES AT 22.83 GPT AU AND 1,718.8 GPT AG, OR 3,431 GPT AGEQSilvercrest Metals Inc. has released its first set of phase III drill results for the Las Chispas property located in Sonora, Mexico. Stepout drilling of the Babicanora vein, including Area 51, continues to intersect high-grade mineralizatio...Read More
• Early optimism fades on a report that the US-China trade talks have stalled. • Surging US bond yields/risk-on mood now seemed to cap additional gains. Gold reversed an early dip to $1331 level and moved back to the top end of its daily trading range, albeit lacked any follow-through momentum. A modest US Dollar rebound prompted some initial weakness...Read More
FRANKFURT (Reuters) - Bayer (BAYGn.DE) shares jumped nearly 5 percent on Tuesday following a media report that the U.S. Justice Department will allow the German drugs and pesticides group to acquire Monsanto (MON.N) in a $62.5 billion deal.The Justice Department reached an agreement in principle with Bayer and Monsanto in recent days after the companies agreed to sell more assets, the Wall Street...Read More
LONDON (Reuters) - Oil broke above $70 a barrel on Tuesday, extending strong gains from the previous day, as investors grew more optimistic that a trade dispute between the United States and China may be resolved without greater damage to the global economy.Brent crude futures were up $1.39 at $70.04 a barrel by 1131 GMT, while West Texas Intermediate crude futures rose $1.23 to $64.65 a barrel.Th...Read More
(Reuters) - U.S. stock index futures rose more than a percent on Tuesday after Chinese President Xi Jinping promised to cut import tariffs, soothing investor concerns about rising U.S.-China trade tensions.In his first public comments since the trade dispute with the Trump administration started, Jinping vowed to open the country’s economy and said China would raise the foreign ownership lim...Read More
(Reuters) - Futures pointed to a higher opening for Canada's main stock index on Tuesday as Chinese President Xi Jinping's promise to lower import tariffs eased concerns about a Sino-U.S. trade war.Xi said China will sharply widen market access for foreign investors, a chief complaint of the country's trading partners and a point of contention for U.S. President Donald Trump's administration, whic...Read More
(Reuters) - Kroger Co (KR.N) said on Tuesday it would hire 11,000 employees in its supermarket divisions, including Fred Meyer stores and Mariano’s Fresh Market, with nearly 2,000 of them for management roles.The hiring would not include jobs created as a result of capital investment, such as temporary construction jobs or increases due to the company’s mergers, Kroger said.The company...Read More
LONDON (Reuters) - The euro jumped on Tuesday, bond yields edged higher and European stocks gave up some gains after a top European Central Bank policymaker said the bank could raise its sub-zero desposit rate before normalising monetary policy.Ewald Nowotny told Reuters in an interview that its 2.55 trillion euro ($3.1 trillion) bond buying programme would be wound down by the end of this year, w...Read More
(Kitco News)- Thegold market is holding its own as U.S. wholesale inflation pressures rose morethan expected last month.Tuesday,the U.S. Labor Department said its Producer Price Index (PPI) rose 0.3% inMarch following an increase of 0.2% in February. According to consensus forecasts, economists were expecting anincrease of 0.1%. Forthe year, producer prices rose 3.0%. CorePPI, which strips out vo...Read More
(Kitco News)- Gold remains caught in a tight trading range, bouncing up against resistance once again at the$1,339 area. The softening of the trade warjargon overnight saw Chinese President XiJinping offer a more conciliatory tone by promising to open up the Chinese market.This was offset by concerns over the level of the U.S. response to Syria's useof chemical weapons. Until the response, if any,...Read More
Newmont Mining Corp. (NYSE: NEM) says the Ahofo mill expansion andall civil surface construction work remain suspended until the company andauthorities “are satisfied that work can resume safely.” Six construction contract workers were killedin an accident on Saturday, and an investigation is being led by theInspectorate Division of Ghana’s MineralsCommission. Newmont temp...Read More
(Kitco News) - Gold and silver prices marketshave not strayed far from unchanged price levels so far Tuesday. The bulls areimpressed with the resilience of their safe-haven metals, in the face of keenerrisk appetite in the marketplace the past two days. A weaker U.S. dollar indexso far this week is working in favor of the precious metals bulls. June Comex gold futures were last up $1.10 an ounce a...Read More
NEW YORK (Reuters) - Quirks in the new U.S. tax code are sowing doubts over how much big banks can boost dividends and stock buybacks this year, threatening to take the shine off what are likely to be strong quarterly profits.Changes in how companies can measure and apply past losses to tax bills, coupled with more extreme scenarios in the Federal Reserve’s annual bank stress tests, could ma...Read More
BEIJING (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan said on Tuesday that he is still optimistic that very few if any of the proposed tariffs by the United States and China announced in recent weeks will actually be implemeneted.Kaplan told reporters at an event in Beijing that it is in the interests of both countries to have a constructive trade relationship.Reporting by Elias...Read More
LONDON (Reuters) - The European Central Bank could stagger the process of raising euro zone interest rates by first lifting its sub-zero deposit rate back toward positive territory, one of its longest-standing policymakers, Ewald Nowotny, said on Tuesday.Nowotny told Reuters in an interview that its 2.55 trillion euro ($3.1 trillion) bond buying program would be wound down by the end of this year,...Read More