BERLIN (Reuters) - Amazon (AMZN.O) Chief Executive Jeff Bezos said on Tuesday that it was right that big companies are scrutinised and said his firm would respond to any new regulations by finding new ways to please its customers.Bezos was speaking in Berlin, where he received an award from German media company Axel Springer (SPRGn.DE), and was responding to a question about how seriously he took...Read More
(Reuters) - Toys ‘R’ Us will set aside about $156 million to pay vendors for toys and merchandise shipped after the U.S. retailer’s Chapter 11 bankruptcy filing last September, a lawyer for the company said on Tuesday.The vendor reserve fund will be carved out of a broader budget meant to cover some expenses as the retailer winds down its business in the largest-ever U.S. retail...Read More
(Kitco News) - A sharp drop in the The S&P 500 Tuesday is breathingsome life into gold as investors continue to wonder if and when the yellowmetal will break above key resistance on the back of higher volatility.Some analysts have said that conditions are ripe for gold torally above $1,360 an ounce, which is a critical resistance level according tomany investors.Bill Baruch, president of Blue...Read More
YEREVAN (Reuters) - A politician who forced Armenia’s prime minister to resign led thousands of people on a march on Tuesday after which he said he was ready to take the reins of power and would keep up pressure on the ruling elite until they agreed to real change.Prime Minister Serzh Sarksyan, who had ruled the country as president before that for a decade, resigned on Monday after almost t...Read More
TechCrunch reported on Amazon's possible interest in the QVC rivalLosses for the major U.S. equity indexes are accelerating, thanks to rising bond yields and negative earnings reactions for big-caps 3M (MMM) and Alphabet (GOOGL). While miner Freeport-McMoRan Inc (NYSE:FCX) is slumping alongside the broader stock market, construction firm Chicago Bridge & Iron Company N.V. (NYSE:CBI) and home shop...Read More
DES MOINES, Iowa (Reuters) - Wells Fargo & Co (WFC.N) investors gave strong backing to the bank’s directors and executives on Tuesday, suggesting they are ready to give its revamped leadership time to rebuild from scandal despite a noisy annual shareholder meeting.Wells Fargo executives said each of the bank’s 12 director nominees received more than about 89 percent support from in...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump and French President Emmanuel Macron pledged on Tuesday to try to resolve U.S.-European differences on Iran but Trump gave no clear signal about whether he would carry out a threat to abandon an international nuclear deal with Tehran.After lengthy talks at the White House, Macron told a joint news conference with Trump that they had discussed &ldq...Read More
WASHINGTON (Reuters) - U.S. consumer confidence rebounded in April and new home sales increased more than expected in March, pointing to underlying strength in the economy despite signs that growth slowed in the first quarter.Other data on Tuesday also showed house prices increasing solidly in February. Strong consumer confidence and rising house prices should underpin consumer spending, which app...Read More
Gold price under serious pressure as U.S. dollar index rallies.Investors are piling into greenback as U.S. Treasury yields rise.Gold's 30-day rally window, moreover, has closed.Gold has had a tough go of it since last week. Despite a buoyant market for oil and fears among equity investors, gold hasn't been able to benefit from factors which would normally spark a flight to quality among invest...Read More
Ford reports earnings after the close on WednesdayFord Motor Company (NYSE:F) will be the first car company to step up to the plate this earnings season, with the Detroit-based automaker scheduled to report first-quarter earnings after the close Wednesday, April 25. Ahead of the event, options activity has been bullish, despite the stock's troubling post-earnings history.Ford stock has produced a...Read More
Gold strong but sideways.Seasonal cycle usually brings a low in June or July.A dip towards and below 1,300 USD would be a great buying opportunity. The Midas Touch Gold Model?,,? remains in neutral mode since 22nd of February 2018! The Midas Touch Gold Model?,,? 23rd of April 2018 Although gold has been acting pretty strong over the last three months, it was not able to breakout through the massiv...Read More
WASHINGTON (Reuters) - President Donald Trump's trade fight with China moved inside the white marble walls of the U.S. Supreme Court on Tuesday, where lawyers for both countries faced off over whether Chinese companies can be held liable for violating U.S. antitrust laws.The nine justices heard arguments in an appeal by two American companies of a lower court ruling that threw out claims of price...Read More
(Reuters) - Wall Street dropped sharply on Tuesday as concerns over marquee companies warning of higher costs were exacerbated by the benchmark U.S. 10-year Treasury yield piercing the 3-percent level for the first time in four years.Google-parent Alphabet (GOOGL.O) sank 4.9 percent, erasing all its gains for the year, as investors focused on the company’s rising expenses and shrinking margi...Read More
The numbers: The S&P/Case-Shiller national index rose a seasonally adjusted 0.5% and was up 6.3% compared to a year ago in February. The 20-city index rose a seasonally adjusted 0.8% and was 6.8% higher than a year ago. What happened: Rather than moderating, as many economists have expected, home prices are accelerating. The 6.8% annual gain in the closely-watched 20-city index was the stro...Read More
The shares are on track to snap their longest win streak since FebruaryThe U.S. dollar has been trending higher in recent sessions, as the 10-year Treasury yield trades near 3% -- a key level it topped earlier today for the first time since January 2014 -- pointing to stiffer inflationary pressures and increased expectations the Fed will raise rates at a quicker-than-forecast pace. As such, the Po...Read More
NEW YORK (Reuters) - Bitcoin rose to a six-week high on Tuesday on positive headlines that included the possible entry of major financial institutions into the space, lifting sentiment on the overall cryptocurrency market.The virtual currency gained after a brutal 50 percent loss in the first quarter of the year, following a nearly 1,400 percent surge in 2017.On Tuesday, bitcoin climbed in six of...Read More
BERLIN (Reuters) - The German government has lowered its economic growth forecast for this year to 2.3 percent from 2.4 percent previously, a source familiar with the figure told Reuters on Tuesday.Economy Minister Peter Altmaier will present growth forecasts for 2018 and 2019 during a news conference on Wednesday. They will form the basis of new tax estimates which are due in early May.Reporting...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Tuesday said the United States would likely reach a trade agreement with China and that officials from both sides would sit down for negotiations in a few days.China has said it would welcome a visit by U.S. Treasury Secretary Steven Mnuchin, who is seeking to resolve a tense trade dispute between the world’s two largest economies after T...Read More
LONDON (Reuters) - European shares steadied on Tuesday as a batch of company updates failed to set a clear trend and chipmakers were weighed down by AMS’ warning of a downturn in orders.The pan-European STOXX 600 benchmark ended flat at the end of a choppy day, marginally weighed down after the U.S. 10-year Treasury yield rose above 3 percent for the first time since 2014.The rise in bond yi...Read More
The options market is pricing in nearly triple the average post-earnings swing for FBSocial media giant Facebook Inc (NASDAQ:FB) is slated to report its first-quarter earnings after the close tomorrow. The stock is currently swooning in sympathy with fellow FAANG member Alphabet's (GOOGL) earnings reaction, and amid reports that Facebook hosted ads for stolen identities. Shares of FB were down 3.5...Read More