(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
WASHINGTON (Reuters) - President Donald Trump said on Tuesday he would use U.S. military forces to protect the nation’s southern border with Mexico until there is a border wall and “proper security” in place.“We are going to be doing things militarily,” Trump told reporters at the White House, adding he had discussed the idea with U.S. Defense Secretary Jim Mattis.&ld...Read More
The equity is on pace to end a second straight session beneath a key trendlineHome construction company Lennar Corporation (NYSE:LEN) is slated to report fiscal first-quarter earnings before the bell tomorrow morning. Lennar stock added close to 50% from its September lows to its record high of $72.17 on Jan. 22, before pulling back with the broader stock market. Today, the shares are on pace to...Read More
NEW YORK (Reuters) - Spotify (SPOT.N) shares began trading on the New York Stock Exchange on Tuesday with an opening price of $165.90 per share.The streaming music leader has structured the stock market listing to allow existing investors to sell directly to the public while offering no shares of its own, in a test case being closely watched by other well-funded multibillion-dollar tech companies...Read More
NEW YORK (Reuters) - John Williams, the genial president of the Federal Reserve Bank of San Francisco and a top monetary economist, was promoted on Tuesday to head the New York Fed in a politically explosive decision likely to ramp up criticism that the bank ignored more diverse candidates.The New York Fed’s directors said Williams will on June 18 succeed William Dudley in what is seen as th...Read More
WASHINGTON (Reuters) - President Donald Trump on Tuesday said the United States is subsidizing Amazon.com Inc (AMZN.O) and that the online retailer must pay more to ship its products through the nation’s postal agency.Trump, citing an unnamed report, told reporters at the White House that the U.S. Postal Service “delivers packages for Amazon at a very low rate,” adding: “If...Read More
LONDON (Reuters) - European stocks retreated on Tuesday as investors began the second quarter in a fragile mood amid international trade tensions and mounting pressure on big technology companies.The pan-European STOXX 600 ended the day down 0.5 percent after falling more than 1 percent earlier in the session. The index was supported in afternoon trading by a slight rebound on Wall Street.Germany'...Read More
(Kitco News)- While gold investors are celebrating a positive firstquarter, one research firm has sent up a warning signal as it sees significantrisks to the downside because of rising real bond yields.In a report Tuesday, New Zealand-based research firm TopdownCharts, said that the growing divergence between gold prices and rising realinterest rates is becoming “increasingly precipitous.&rd...Read More
The stock could be headed for record highs soon, if history repeatsChegg Inc (NYSE:CHGG) stock has been on a rollthe past year, but like much of the broader stock market, ran out of steam last month. However, if history is any guide, it could be time to buy short-term call options on the online education platform.At last check, Chegg stock was fractionally higher to trade at $20.11. Looking closer...Read More
NVDA is one of the best S&P 500 stocks todayA rebound in the tech sector, including a sharp bounce for semiconductor giant Nvidia (NVDA), and gains in consumer discretionary names are helping lift U.S. stock indexes today. The Dow Jones Industrial Average (DJI) was last seen boasting a triple-digit lead, with Johnson & Johnson (JNJ) and UnitedHealth (UNH) in the front of the pack. Even Amazon (AMZ...Read More
Blockchain's transparency, tamper-proof record and decentralized nature make the cryptocurrency vehicle more secure than any repository under the control of one entity. Blockchain can be used to secure everything from financial transactions to voting and medical records. Eric C. Jansen, founder of AspenCross Wealth ManagementPublished 13 Hours AgoUpdated8 Hours AgoCNBC.com Blockchain, the vehicle...Read More
LONDON (Reuters) - The head of Britain’s military research center said on Tuesday it was unable to prove the military-grade nerve agent that poisoned a Russian double-agent last month had been produced in Russia.“We were able to identify it as Novichok, to identify that it was military-grade nerve agent,” Gary Aitkenhead, chief executive of the Defence Science and Technology Labo...Read More
BEIRUT (Reuters) - Iranian President Hassan Rouhani attacked the United States and Israel for their roles in Syria before he boarded a plane for Turkey where he was scheduled to meet President Tayyip Erdogan and visiting Russian President Vladimir Putin.“The Americans are against the Syrian government establishing its authority throughout the whole country and are even thinking of a breakup...Read More
An increasingly panic-prone market is supporting gold.Gold's relative strength factor has been increasing.Most importantly, its fear component is bolstering the price.Gold got a much-needed boost from the latest spike in bearish sentiment among equity investors. As the stock market plunged on Monday, the price of gold was one of the assets to actually benefit from the increase in fear. In toda...Read More
(Bloomberg) - Randgold Resources Ltd.'s celebrated ability to operate in Africa is being tested on all fronts, and it's taking a toll on the London-listed gold miner's stock.For most of the last decade, Randgold shares were the best performers among gold miners tracked by Bloomberg. Now they are among the worst in the industry, sinking 20 percent so far this year.Randgold made its reputation on i...Read More
(Reuters) - The billionaire Steven A. Cohen has won the dismissal of an $8 billion lawsuit accusing him and his former firm SAC Capital Advisors LP of conspiring with other hedge funds to spread false rumors about Fairfax Financial Holdings Ltd, hoping to “crush” or “kill” the insurer.In a decision last week, New Jersey Superior Court Judge Frank DeAngelis said the nearly 1...Read More
The blockchain name said it's being investigated by the SECOptions volume is soaring on Longfin Corp (NASDAQ:LFIN) today, as the shares extend their sell-off to a sixth straight day. At last check, more than 13,600 puts and almost 8,300 calls had traded -- nine times what's typically seen at this point in the day. For the sake of comparison, LFIN's single-day options volume topped out at a record...Read More
DETROIT (Reuters) - General Motors Co (GM.N) said on Tuesday it will stop reporting monthly U.S. vehicle sales, saying the 30-day snapshot does not accurately reflect the market and the company will, instead, issue quarterly sales reports.GM will also no longer report monthly sales in China, its largest market, or Brazil. The company will provide monthly data to the U.S. Federal Reserve, industry...Read More