WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission on Friday said it had targeted allegedly illegal stock sales involving Longfin Corp stock as well as the finance and technology company’s chief executive and three other people.The regulator, in a statement, said it had obtained a court order to freeze more than $27 million in trading proceeds from “allegedly illegal di...Read More
BEIJING/WASHINGTON (Reuters) - China warned on Friday it was fully prepared to respond with a “fierce counter strike” of fresh trade measures if the United States follows through on President Donald Trump’s threat to slap tariffs on an additional $100 billion in Chinese goods.In light of China’s “unfair retaliation” against earlier U.S. trade actions, Trump uppe...Read More
• A modest USD retracement helps bounce off lows. • Gains remain capped ahead of the key NFP report. Gold pared some of its losses to 2-week lows and is now trying to stabilize around the $1325-24 region as investors keenly await the release of latest US jobs report. In absence of any fresh fundamental trigger, a modest US Dollar retracement, am...Read More
LONDON (Reuters) - Bank of England Governor Mark Carney said on Friday that governments and companies around the world were making progress in the push toward creating a low-carbon economy.“The good news is that governments are now establishing the policy frameworks, and the private sector is beginning to allocate capital accordingly,” Carney told an international conference on climate...Read More
The blockchain stock has given back 44% in 2018After adding an astounding 265% in 2017, Overstock.com Inc (NASDAQ:OSTK) raced to a record high of $89.80 on Jan. 8, but promptly capsized. At last check, the stock is up 0.9% to trade at $35.85, after the company announced Gregory Iverson as its new chief financial officer. If history is any guide, though, it could be time to bet on the blockchain s...Read More
(Kitco News) - Participants in the Kitco News weekly gold surveylook for the price of the metal to rise next week amid ongoing rhetoricpointing to a potential trade war between the U.S. and China and after a softU.S. jobs report. Wall Street Bullish Bearish Neutral VSMain Street Bullish Bearish Neutral The metal has chopped up and down lately onheadlines about the U.S. and Chi...Read More
(This April 5 story corrects paragraph 18 to show the expansion will add 200,000 barrels of daily capacity, not 200 million barrels.)By Devika Krishna KumarNEW YORK (Reuters) - The Permian basin in Texas is leading the way as U.S. oil production has reached an all-time high, but the prolific output is causing bottlenecks as pipelines transporting the crude have filled up more quickly than expected...Read More
MEXICO CITY (Reuters) - Mexican Foreign Minister Luis Videgaray said on Friday he does not rule out the possibility of a “quick result” in negotiations with the United States and Canada over an updated North American Free Trade Agreement (NAFTA).Mexico’s top diplomat emphasized that progress is being made on various issue-specific tables of the negotiation, noting that he met in...Read More
(Reuters) - U.S. stock indexes opened lower on Friday as renewed fears of a trade conflict between the United States and China outweighed a lower-than-expected March jobs data that eased concerns over aggressive interest rate hikes.The Dow Jones Industrial Average .DJI fell 234.05 points, or 0.96 percent, to 24,271.17. The S&P 500 .SPX lost 22.96 points, or 0.862237 percent, to 2,639.88. T...Read More
WASHINGTON (Reuters) - U.S. trade talks with China have not yet begun but will hopefully start in the next few months, President Donald Trump’s economic adviser said on Friday.“They have not really begun yet. China’s response to our complaints ... has been unsatisfactory,” White House economic adviser Larry Kudlow told Bloomberg TV. “That’s why we’re looki...Read More
(Kitco News)- The underlying focus for the gold market remains the worryabout a potential trade war with China. It was a matter of time beforePresident Trump's ego forced him to respond to China's comment on Wednesdaythat they had won round one of the tariff salvo. Last night, President Trump proposedanother $100billion to the list of tariffincreases on the Chinese and the gold market prompt...Read More
NTAP has enjoyed the support of the 80-day moving average in recent monthsJust off yesterday's analyst day where the company announced it's doubling its quarterly dividend and increased its share buyback plan, data storage specialist NetApp Inc. (NASDAQ:NTAP) is trading up 1.5% at $63.84 after receiving a slew of positive analyst attention. NTAP notched no fewer than four price-target hikes, with...Read More
Northrop Grumman and Raytheon received lofty price-target hikesDespite the recent market turbulence, including this morning's tariff-induced drop, defense stocks Northrop Grumman Corporation (NYSE:NOC) and Raytheon Company (NYSE:RTN) have held up well -- especially compared to sector peer Boeing Co (NYSE:BA). Brokerage firm RBC is betting on even more upside for NOC and RTN stocks, too, raising it...Read More
AMZN is reportedly thinking of adding peer-to-peer payments to AlexaPayPal Holdings Inc (NASDAQ:PYPL) is down 1.1% to trade at $76.12 this morning, after the Wall Street Journal reported thatAmazon (AMZN) was considering adding a person-to-person payment option to its Alexa technology. Such a feature would put Amazon in direct competition with Paypal. PayPal stock has added an impressive 77% yea...Read More
Mizuho, on the other hand, upgraded VRX stock this morningMizuho upgraded Valeant Pharmaceuticals Intl Inc (NYSE:VRX) to "neutral" from "underperform," and boosted its price target by $5 to $15. The brokerage firm said it doesn't see any "near term sell catalysts," and that it believes the Bausch + Lomb parent will reach its 2018 guidance. The analyst in coverage did caution, however, that it expe...Read More
LONDON (Reuters) - Rising trade tensions between the United States and China have sparked equity outflows over the last week, though so far there has only been a modest unwind of 2018’s most popular trades, fund flows data show.A weekly data compilation by Bank of America Merrill Lynch (BAML) showed the third straight week of equity outflows, with redemptions of $7.2 billion, according to a...Read More
NEW YORK (LPC) - The high stakes trade confrontation between the U.S. and China is boosting the secondary loan prices of steel manufacturers and metals companies, but components manufacturers are potentially vulnerable to Chinese retaliation.President Donald Trump’s proposed tariffs on Chinese goods are fuelling talks of a trade war that could crush global growth, and increasing political un...Read More
(Reuters) - Wall Street was set to open lower on Friday, weighed down by fears of an escalating trade conflict between the United States and China, but a lower-than-expected March jobs data eased some concerns over aggressive interest rates hikes.Global stock markets edged downward after President Donald Trump threatened to slap an additional $100 billion in tariffs on Chinese goods and Beijing wa...Read More
WASHINGTON (Reuters) - The United States imposed sanctions on Friday against Russian businessmen, companies and government officials, striking at associates of President Vladimir Putin in one of Washington’s most aggressive moves to punish Moscow for a range of activities, including alleged meddling in the 2016 U.S. election.The action, taken under pressure from the U.S. Congress, freezes th...Read More
The president is considering another $100 billion in tariffs on Chinese productsFutures on the Dow Jones Industrial Average (DJI) are plummeting, with the blue-chip index set to snap its three-day win streak. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also firmly in the red in electronic trading, after President Donald Trump raised the trade stakes on Beijing last night -- proposing $1...Read More