The $121 area looks important for a number of reasonsAutodesk, Inc. (NASDAQ:ADSK) has made some big moves on the charts in recent months, both to the upside and the downside. The shares were last seen trading near $127, a roughly 10% retreat from their March 13 record high of $141.26. However, the software stock recently bounced from a noteworthy technical level, suggesting it could be poised for...Read More
(Kitco News) - June gold futuresprices Monday morning dipped below thetechnically important 200-day moving average for the first time sincelate-December, but then popped right back above it. This is one encouragingsign the recent selling pressure in the gold market could be ending. However,it will be important for June gold prices to hold above the 200-day movingaverage today. If such is the case,...Read More
BEIJING (Reuters) - Volkswagen AG (VOWG_p.DE), the world’s biggest automaker, is in talks to form a joint venture with China’s Didi Chuxing to manage part of the ride-hailing company’s fleet of cars and help develop “purpose-built” vehicles for Didi’s services.As part of the deal between Volkswagen and China’s biggest ride-hailing service, expected to be s...Read More
(Kitco News)- Gold priceshave bounced of a five-week low following data showing further weakness in thehousing sector as fewer consumers than expected committed to buying a home inMarch, accordingto the latest data from the National Association of Realtors (NAR).Monday,the association said that its pending home sales index rose only 0.4% in Marchto a reading of 107.6, compared to February's downwa...Read More
The all-stock deal is valued at roughly $26 billionSpeculation surrounding a potential merger of telecommunication firms Sprint Corp (NYSE:S) and T-Mobile Us Inc (NASDAQ:TMUS) has been swirling for years. Over the weekend, the two confirmed a roughly $26 billion all-stock deal, with TMUS CEO John Legere picked to lead the combined company. T-Mobile parent Deutsche Telekom will hold a 42% stake and...Read More
GOLD (in USD) Selling pressures. Gold is weakening following recent rise at 1325, heading along the 1315 range. Hourly support and resistance are given at 1314 (13/03/2018 low) and 1357 (26/01/2018 high). The technical structure suggests short-term upward moves. In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1'392 (17/03/2014) is requ...Read More
(Reuters) - The U.S. Supreme Court on Monday declined to hear Google’s appeal of a lower court’s ruling that narrowed the scope of patents that can be challenged before a federal tribunal whose proceedings have led to the cancellation of many patents.The justices let stand a 2016 federal appeals court ruling against Google, a subsidiary of Alphabet Inc (GOOGL.O), which had successfully...Read More
Authored by Trey Reik, Senior Portfolio Manager, Sprott Asset Management USA, Inc.The turbulence which riled U.S. equities in early February spread to short-term credit markets during March. As the S&P 500 Index1 slumped towards ongoing retest of February lows, various measures of dollar funding stress surged to post-crisis highs. Most notably, the Libor-OIS spread exploded to 59 basis points by...Read More
EURUSD, “Euro vs US Dollar” EURUSD has completed the ascending structure at 1.2133. Possibly, today the price may rebound from this level. Later, the market may continue trading to the downside to reach the short-term target at 1.1964. GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD has finished another descending impulse and right now is forming a new consolidati...Read More
Wayfair stock sold off after earnings in FebruaryShares of online furniture retailer Wayfair Inc (NYSE:W) are sharply lower in early trading, after receiving a downgrade to "neutral" from "outperform" at Wedbush, along with a drastic price-target cut to $63 from $90 -- though this is still more than double Citron Research's price target. Wayfair stock was down 4.5% at $63.64 at last check.W has be...Read More
NYT stock has doubled since Trump was electedDespite repeated claims from President Trump that its business has been "failing," New York Times Co (NYSE:NYT) shares have been booming since he was elected. Indeed, NYT stock was trading near $11 during the 2016 presidential election, and has roughly doubled in value since, last seen trading at $22.20. While the equity has pulled back some since pea...Read More
LONDON (Reuters) - Music apps such as Spotify and multiplayer online games might give central bankers just as a good a sense of what’s going on in the economy as traditional surveys, the chief economist at the Bank of England says.Andy Haldane said the rise of digital leisure might help policymakers crack the problem of understanding the mood of consumers, whose spending drives the economy.H...Read More
(Reuters) - U.S. stock indexes were on track to open higher on Monday as strong earnings and a string of mergers lifted spirits, kicking off a busy week for inflation watchers.Shares of oil refiner Andeavor (ANDV.N) jumped 12.2 percent in premarket trading after rival Marathon Petroleum (MPC.N) agreed to buy the company for more than $23 billion. Marathon’s shares were down 7.9 percent.Inves...Read More
MCD stock is trading more than 4% higher ahead of the bellFollowing last month's rare loss, the Dow Jones Industrial Average (DJI) seems set for an April win, with futures trading well above fair value this morning thanks to a positive earnings reaction for McDonald's (MCD). The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also signaling a higher start, as Wall Street reacts to several M&A d...Read More
(Reuters) - T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N) said on Sunday they had agreed to a $26 billion all-stock deal and believed they could win over skeptical regulators because the merger would create thousands of jobs and help the United States beat China to creating the next generation mobile network.The agreement capped four years of on-and-off talks between the third and fourth largest...Read More
A "no-hike" Fed meeting this week could provide a boost for stocks "...something that has grabbed my attention when listening to a long line of guests on financial television during the past few weeks is the near-consensus opinion that earnings will drag stocks out of their recent funk...as a contrarian, I am reluctant to buy into the consensus here. Friday's poor earnings reactions out of the ban...Read More
(Kitco News)- Gold pricescontinue to trade near a 5-week low as inflation pressures rise in line withexpectations, according to the latest data from the U.S. Commerce Department.Monday, theCommerce Department said that its Personal Consumption Expenditures Indexincreased to 2.0% annually in March, up from the 1.7% increase reported inFebruary.At the sametime core PCE, which strips out volatile foo...Read More
(Kitco News)- Gold continues to struggle against the backdrop of easinggeopolitical tensions and the strength in the dollar. The European Central Bank announced last week that rateswould remain unchanged, which initiated further capital flows into the dollar,as yield differentials widened between the U.S. and Europe. The euro has beenvery resilient at the 1.20 euro/dollar level and a break below t...Read More
Consumption-linked price measure rises 2% from year earlierIncomes rose 0.3% from prior month, less than forecastsMichelle Girard, chief U.S. economist at NatWest Bank, reacts to the inflation data.U.S. consumer spending picked up in March while the Federal Reserve’s preferred inflation gauge hit the central bank’s 2 percent target for the first time in a year, reinforcing the outloo...Read More
Gold hasfallen back below $1,320 per ounce at the start of a new trading week. “One factorweighing on its price remains the firm U.S. dollar,” Commerzbank says. “Thesigns of detente in the North Korean conflict are also contributing to the lackof solid demand for gold as a safe haven at present. Following the historicmeeting between North Korean leader Kim Jong-un and South Korea...Read More