NEW YORK (Reuters) - Wall Street led global stocks higher on Monday as the beaten down tech sector rallied, also lifting oil prices, while investors kept an eye on a U.S.-China trade spat.Large-cap U.S. tech companies rose 2.6 percent but are still down more than 7 percent from a record high hit four weeks ago.The United States and China have threatened each other with tens of billions of dollars...Read More
Inverse correlation between U.S. equities and gold remains intact.As long as financial market is internally weak, gold should stay strong.Volatility Index (VIX) is a worthwhile reflection of this relationship.Gold prices rose on Friday and U.S. equities sold off on trade-related concerns. Meanwhile the dollar was lower while Treasury prices were higher as safe-haven buying was in evidence. Gold co...Read More
Source: Streetwise Reports 04/09/2018Eric Zaunscherb, an analyst with Canaccord Genuity, reviewed and interpreted this company's recent drill results.In the field.In an April 4 research note, Canaccord Genuity analyst Eric Zaunscherb reported that Marathon Gold Corp. (MOZ:TSX; MGDPF:OTC.MKTS) released the stepout drill results from the Marathon gold deposit and Sprite zone bog area, which "pro...Read More
Facebook CEO Mark Zuckerberg is in Washington, D.C., this weekSocial media giant Facebook, Inc. (NASDAQ:FB) and airline concern Boeing Co (NYSE:BA) both experienced pullbacks over the past few weeks, which sparked interest from options traders. What's more, FB and BA made Schaeffer's Senior Quantitative Analyst Rocky White's list of 20 stocks that saw the heaviest weekly options volume during the...Read More
(Kitco News) - Gold and silver prices were slightly higher in midday trading Monday. The preciousmetals saw modest support from a weaker U.S. dollar index on this day. Buyersof the safe-haven metals were squelched by a solid rally in the U.S. stockmarket today. June Comex gold futures were last up $0.70 an ounce at $1,336.80.May Comex silver was last up $0.078 at $16.344 an ounce.Therewas better i...Read More
OLED stock is testing round-number supportiPhone supplier Universal Display Corporation (NASDAQ;OLED) has had a disastrous start to 2018, due to the broader stock market correction and an earnings miss in February, not to mentionreports last month that Apple Inc. (NASDAQ:AAPL) is developing its own LED screens. Despite OLED stock's struggles, there is some indication that the chip stock may hav...Read More
(Kitco News)- Although the precious metals market continues to struggleto find new momentum, one international bank sees potential for the next threeyears.In a recent research report, commodity analysts atMacquarie said they think the precious metals sector is the best bet within thebroad-commodity sector. The bank said that it sees higher gold prices throughto 2020 because of growing inflation pr...Read More
April 9 (Reuters) - Operations restarted at Newmont Mining Corp's two gold mines in Ghana on Monday, a company spokesman said, after they were shut down on Saturday following an accident in which six construction workers were killed.Civil works on the mill expansion project at Newmont's Ahafo project, where the accident occurred, remain suspended, the spokesman said in an email. Newmont operates t...Read More
(Bloomberg) - In Venezuela's gold capital, national guardsmen block the roads. Military convoys and motorcycles circle while soldiers keep wary watch behind sandbag checkpoints or patrol with faces covered by balaclavas and rifles in hand.The military has been fighting for months to master El Callao, the dangerous nation's most dangerous town, and a beachhead in efforts to develop a mineral-rich...Read More
The Trump administration has made it a point to cool trade war fearsThe Dow Jones Industrial Average (DJI) is grinding higher today, as fears of a trade war recede once again. The blue-chip index was last seen up over 300 points, bouncing back from Friday's huge sell-off and marking another big market swing. Healthcare and tech are leading the way, with the former sector buoyed by big pharma M&A a...Read More
The construction concern has retreated to two historically bullish trendlinesAfter a strong start to 2018, shares of Caterpillar Inc. (NYSE:CAT) quickly retreated from their Jan. 16 record high of $173.24 amid the broader stock market correction. The construction stock plunged 5% in February, and an additional 4.7% in March -- the latter drop sparked by rising fears of a U.S.-China trade war. CAT...Read More
(Reuters) - Canada’s main stock index rose on Monday, led by gains in financial stocks ahead of a key report that could help guide Bank of Canada’s interest rate policy, and after officials in U.S. President Donald Trump’s administration highlighted that the trade dispute with China could be resolved through talks.* At 9:37 a.m. ET (1337 GMT), the Toronto Stock Exchange’s S...Read More
NEW YORK (Reuters) - U.S. inflation expectations remained largely flat in March, holding the gains of the last several months, according to a Federal Reserve Bank of New York survey published on Monday.The survey of consumer expectations, which the Fed considers along with other data on U.S. price pressures, showed median one-year ahead expectations edged lower to 2.75 percent, from 2.83 percent i...Read More
WASHINGTON (Reuters) - Facebook Inc Chief Executive Officer Mark Zuckerberg will hold meetings with some U.S. lawmakers on Monday, a day before he is due to appear at Congressional hearings over a political consultancy’s use of customer data, two congressional aides said on Sunday.The planned meetings at Capitol Hill are expected to continue through Monday afternoon and include some lawmaker...Read More
WASHINGTON (Reuters) - White House economic adviser Larry Kudlow said on Monday progress was being made on efforts renegotiate the North American Free Trade Agreement but that he had no specific details on the talks.“Progress is being made on renegotiating and recalibrating NAFTA ... good progress,” Kudlow told CNBC in an interview, adding that there should be “much greater curre...Read More
(Kitco News)- Sentiment remains extremelyvolatile in the gold market as hedge funds liquidated most of their newlyacquired bullish positions and added to their bearish bets, according to thelatest trade data from the Commodity Futures Trading Commission.“Recently established gold longsgot squeezed once again with quarter-end dollar demand and what turned out tobe a temporary easing of geopol...Read More
The chip stock hit an annual low just last weekBMO cut its price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) by $3 to $12, following a rough stretch for chip stocks. Nevertheless, this new AMD price target stands at a premium to last Friday's close at $9.61, and in early trading, the security is 1.6% higher at $9.69, thanks to broad-market tailwinds.Since being rejected by the $12.90 regio...Read More
(This March 29 story refiles to correct figure to 19 percent in paragraph 20.)By Maiya Keidan, Pamela Barbaglia and Paola ArosioLONDON/MILAN (Reuters) - Italy’s Banca Monte dei Paschi di Siena (MPS) (BMPS.MI) will meet investors in London on April 4, two sources close to the bank told Reuters, as the Tuscan lender seeks to soothe concerns over its turnaround progress.Monte dei Paschi is grap...Read More
LONDON (Reuters) - Oil rose on Monday, boosted by investor caution over an air strike on a Syrian air base over the weekend, which overshadowed some of the concern that has undermined the crude market over an intensifying trade dispute between China and the United States.Syria and its main ally Russia blamed Israel for carrying out an attack on a Syrian air base near Homs on Monday which followed...Read More
MOSCOW (Reuters) - Russia’s ruble experienced its biggest one-day fall for over two years on Monday and stocks in major Russian companies also slid, as investors reacted to a new round of U.S. sanctions targeting some of Russia’s biggest tycoons.The sanctions, announced on Friday, target officials and business people around President Vladimir Putin in an aggressive response to alleged...Read More