NEW YORK (Reuters) - The dollar rose on Tuesday, led by gains against the yen and Swiss franc, as risk appetite improved and Wall Street’s main indexes advanced, helping the U.S. currency stabilize after recent declines.The outlook for the dollar, however, remains murky due to global trade tensions. The greenback has lost 2 percent so far this year.“At the moment, support from high exp...Read More
SAN FRANCISCO (Reuters) - The San Francisco Federal Reserve Bank will appoint a committee in the next few days to conduct a “full-blown search throughout the world” for a new president, the bank’s chair Alex Mehran said on Tuesday.“Diversity will be a key factor” in the search for a leader to succeed John Williams, who on Tuesday was named as the next chief of the New...Read More
NEW YORK (Reuters) - U.S. stocks rebounded on Tuesday after crashing through key technical levels in the previous session but investors were still worried that Wall Street’s three major indexes could eventually turn lower and fall through their next support levels.Investors had fled on Monday after S&P 500 breached its 200-day moving average and closed below it for the first time since J...Read More
WASHINGTON (Reuters) - The Trump administration is postponing until September a summit with Gulf Arab leaders that had been planned for this spring amid an ongoing dispute between Qatar and other U.S. allies in the region, according to five U.S. officials.The decision to delay the May summit with the six-nation Gulf Cooperation Council reflects a crowded diplomatic calendar, and the fact that Pres...Read More
Shares of the Snapchat parent are pacing for their seventh straight lossIt's a broad-based rebound on Wall Street today, with the major U.S. benchmarks pacing for a positive session. Among individual stocks making notable moves are Model 3 maker Tesla Inc (NASDAQ:TSLA), Snapchat parent Snap Inc (NYSE:SNAP), and drugmaker Celgene Corporation (NASDAQ:CELG). Here's a closer look at what's moving shar...Read More
Gold bears are trying to keep the market below the $1,330 mark. Investors are disregarding the protectionist threats and the US Dollar gains value. Gold is trading at around 1,329.31.70 down 0.89% on Tuesday as investors momentarily shrug off the risk-off sentiment ignited on Monday with renewed fears of trade wars between the US and China. Earlier this week, China retaliated to...Read More
LONDON/NEW YORK (Reuters) - Spotify Technology SA (SPOT.N) shares surged following the largest-ever direct listing on Tuesday, giving the world’s leading streaming music service a market value of nearly $30 billion.Shares opened at $165.90, up nearly 26 percent from a reference price of $132 a share set by the on the New York Stock Exchange late on Monday.Spotify’s unusual route to pub...Read More
NEW YORK (Reuters) - The Environmental Protection Agency has exempted one of the nation’s largest oil refining companies, Andeavor (ANDV.N), from complying with U.S. biofuels regulations - a waiver historically reserved for tiny operations in danger of going belly up, two sources familiar with the matter told Reuters.The exemption, which applies to the three smallest of Andeavor’s ten...Read More
Stifel cut its price target for General Electric stock todayGeneral Electric Company (NYSE:GE) is the worst Dow stock today, down 0.8% to trade at $13.01, after Stifel issued a price-target cut to $13 from $15. Against this backdrop, options traders are piling on GE -- with some likely betting on even bigger losses for the blue chip.Taking a closer look, roughly 126,000 GE options have changed ha...Read More
Gold futures finished lower on Tuesday, as equities attempted to bounce back from the previous session's rout and worries over global trade tensions appeared to take a breather. Although European stocks ended lower, U.S. shares traded higher as stocks attempted to recover at least part of Monday's technology-driven bloodletting, while a leading dollar index'sDXY, -0.08% slight 0.1% gain produced a...Read More
Gold futures finished lower on Tuesday, as equities attempted to bounce back from the previous session's rout and worries over global trade tensions appeared to take a breather. Although European stocks ended lower, U.S. shares traded higher as stocks attempted to recover at least part of Monday's technology-driven bloodletting, while a leading dollar index'sDXY, -0.05% slight 0.1% gain produced a...Read More
Reduction of demand from China's central bank demand and tariffs by the Indian government will continue to put a lid on demand for gold.Rising budget deficit narrative has broken down with regards to gold prices in the last 5 years.Potential rising real interest rates are not a good sign for gold.Charts do point to a potential breakout.The x factor here is the probability of a major catalyst r...Read More
(Kitco News)- The goldmarket saw some technical selling pressures ending Tuesday’s session down onthe day, pushed lower by improved investor risk sentiment and a stronger U.S. dollar.June goldfutures settled the session at $1,337.30 an ounce, down 0.71% on the day. At the sametime, May silver futures last traded at $16.392 an ounce, down 1.7% on the day.Accordingto analysts, the precious met...Read More
Silver is acting weaker than it should at the start of an expected long-term precious metals advance.Short-term traders should beware that silver may not present multi-dollar trading opportunities until it decisively breaks its primary declining trend at $17.45.Silver is showing negative price action which reveals lower targets.By Christopher Aaron For the week ending 3/30, silver finished lower b...Read More
ZURICH/FRANKFURT (Reuters) - Two major Deutsche Bank (DBKGn.DE) investors on Tuesday criticized Chairman Paul Achleitner over the bank’s performance and his handling of a search for a new chief executive.Last week, Reuters and other news organizations reported that Achleitner had begun a search for a new CEO to replace John Cryan. Cryan has said he will stay on in a memo to staff, but Achlei...Read More
WASHINGTON (Reuters) - A top Republican lawmaker involved in U.S. trade talks with Mexico and Canada said on Tuesday he was impressed by recent talks on the North American Free Trade Agreement and that the next round will be crucial.“I was real encouraged by what I saw. What they’re putting together is the nuts and bolts of a very good trade agreement where the U.S., frankly, does bett...Read More
U.S. Treasury Yields Are DecliningThis Bodes Well for Gold PricesGold and U.S. Treasury Yields are Negatively CorrelatedFear over global trade negotiations, and recent softer than expected economic data has weakened the long end of the U.S. treasury curve, which should be a positive for gold prices. Historically as the long-end of the U.S. treasury curve declines, relative to European and Japanese...Read More
(Reuters) - Wall Street’s main indexes were slightly higher in volatile trading on Tuesday, supported by gains in financials, while technology stocks came under pressure again.Amazon fell 0.3 percent following President Donald Trump’s latest attack on the online retail giant.Tesla shares gained 4.5 percent after the electric automaker said it need not raise more capital this year and a...Read More
WASHINGTON (Reuters) - The U.S. State Department expressed concern on Tuesday at the Malaysian parliament’s approval of a bill that would allow prison terms of up to six years for spreading “fake news” - an expression frequently used by U.S. President Donald Trump.Malaysian Prime Minister Najib Razak’s government secured a simple majority in parliament on Monday to pass the...Read More
Will the S&P climb a 'wall of worry' yet again?Since the February correction and subsequent stock market chop, investors have been reducing their exposure to equities. Not only did exchange-traded funds (ETFs) see a second straight month of negative outflows in March -- something we haven't seen since the financial crisis of 2008, per State Street Global Advisors -- but the latest National Associa...Read More