OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau said on Tuesday the deadly van attack in Toronto on Monday had not changed the country's threat level or security preparations for a G7 summit in Quebec in June, adding that Canadians must not live in fear.Speaking to reporters outside of parliament, Trudeau said it would take time before the motives of the attacker were understood, but tha...Read More
The stock could not take advantage of a short squeeze in 2017Since early August, shares of satellite TV provider Dish Network Corp (NASDAQ:DISH) have experienced a sharp downtrend. The stock is already down roughly 22% in 2018, and historical data suggests the recent encounter with the 40-day moving average could be a bearish signal, too. While this technical outlook alone could warrant the attent...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Goldprices were unfazed Tuesday by news that sales of new U.S. single-family homesrose by 4% in March to a seasonally adjusted and annualized pace of 694,000.Consensusestimates compiled by various news organizations called for sales to be around630,000. The Commerce Department revised sales for February to 667,000 f...Read More
MUNICH (Reuters) - A lawyer for a member of a neo-Nazi gang accused of murdering 10 people more than a decade ago urged judges on Tuesday to dismiss accusations by German prosecutors that she was an accomplice in the crimes.Prosecutors last year asked the court in Munich to convict Beate Zschaepe and sentence her to life imprisonment for the murders by the National Socialist Underground (NSU) grou...Read More
Editor's Note: Updating earlier story with more details from report.(Kitco News) - Gold held onto its earliergains after a Conference Board report Tuesday showing that the U.S. consumerconfidence index rose to 128.7 in April from a revised 127.0 in March.Consensus expectationsfrom most news organizations called for the confidence reading to be around 125.9to 126.1.As of 10:22 a.m. EDT, Comex June...Read More
LONDON (Reuters) - Inflation expectations among people in Britain for the year ahead remained unchanged at 2.4 percent in April, according to a survey published by financial services firm Citi and polling firm YouGov.Expectations for annual inflation five to 10 years ahead rose to 3.1 percent in April, up from 3.0 percent, interrupting a recent series of small declines, Citi said.“With both...Read More
Third Federal CEO Says Mortgage Market 'Going Gangbusters'U.S. new-home sales increased in March to a four- month high, mainly reflecting a surge in the West, and upward revisions to prior months showed stronger first-quarter demand than previously estimated, according to government data released Tuesday.Highlights of New-Home Sales (March)Single-family home sales rose 4% m/m to a 694k annualized...Read More
HD stock recently pulled back to a supportive trendlineHome improvement stocks Home Depot Inc (NYSE:HD) and Lowe's Companies, Inc. (NYSE:LOW) are both trading higher this morning, after Wells Fargo initiated coverage with an "outperform" rating, and set its price targets on the retail stocks to $205 and $100, respectively. The brokerage firm believes broad macroeconomic factors will be a boon...Read More
GRUB premium buyers have been consistently rewarded over the past 12 monthsGrubHub Inc (NYSE:GRUB) stock is trading higher, after D.A. Davidson raised its price target to $100 from $80. This comes just after the Sohn Conference kick-off, where Li Ran from Half Sky Capital said that GrubHub "is the leading online food delivery platform in the U.S.," and waxed optimistic on the firm's North American...Read More
LONDON (Reuters) - World stocks steadied on Tuesday after three sessions of losses thanks to strong earnings from the likes of Google and as a rise in benchmark U.S. bond yields towards 3 percent stalled, while oil prices stretched to fresh highs above $75 a barrel.U.S. stock futures pointed to a firm open on Wall Street ESc1 1YMc1, although European shares were mixed with stock markets in London...Read More
LONDON (Reuters) - The European Union’s existing system of market access for foreign financial firms is not perfect but can work for Britain after it leaves the bloc next year, the EU’s financial services chief said on Tuesday.The so-called equivalence system is based on Brussels granting access to the EU for banks, insurers and asset managers from outside the bloc if the bloc deems th...Read More
HONG KONG (Reuters) - China’s breaches of World Trade Organization (WTO) rules are detrimental to the United States and there are worrying signs that the world’s second-largest economy is moving backward, the U.S. consul general of Hong Kong and Macau said on Tuesday.Kurt Tong was speaking at the Foreign Correspondents’ Club amid escalating tensions after China and the United Sta...Read More
Caterpillar (NYSE:CAT), the world's No.1 heavy machinery maker, boosted Tuesday its 2018 profits forecast after beating estimates for first-quarter earnings on strong global demand for its equipment.For the three months ended on March 31, the Deerfield, Illinois-based firm, which is considered a reliable bellwether of global economic activity, reported a net profit of $2.74 per share, above most...Read More
There is a decisive breakdown in the gold to silver ratio, in favor of silver.The ratio has corresponded with rising silver prices, which were up 3.0% for the week to close at $17.16.Gold was lower by 0.7% or $10 for the week to close at $1,338.By Christopher Aaron In early March, we proposed that the gold to silver ratio was forming an important topping pattern and that in order for the ongoing p...Read More
NEW YORK, April 24 (Reuters) - The U.S. Treasury yield curve flattened in early U.S. trading on Tuesday with the benchmark 10-year yield holding below 3 percent in advance of a $32 billion auction of two-year government notes.At 8:20 a.m. (1220 GMT), the spread between two-year and 10-year Treasury yields narrowed 0.6 basis point at 48.60 basis points after hitting its steepest levels in two weeks...Read More
(Reuters) - The Dow Jones Industrial Average .DJI was set to open roughly 150 points higher on Tuesday after Caterpillar and United Technologies led a slew of strong earnings reports from members of the blue-chip index.With U.S Treasury yields easing slightly from the peaks hit on Monday, the results from industrial heavyweights helped reinforce optimism about the pace of U.S. economic growth an...Read More
CHICAGO (Reuters) - Caterpillar Inc (CAT.N) on Tuesday upgraded the outlook for 2018 profits after the world’s largest heavy-duty equipment maker beat estimates for first-quarter earnings on strong global demand for its equipment.Shares, part of the Dow Jones Industrial Average .DJI, were up 4.25 percent in pre-market trading.The Deerfield-?EUR?Illinoisbased company now expects the full-yea...Read More
(Reuters) - Lockheed Martin Corp (LMT.N), the Pentagon’s No.1 weapons supplier, reported a better-than-expected quarterly profit and raised its full-year forecast, driven by higher sales of its F-35 combat jets.Shares of the company rose 1.4 percent to $363.7 in premarket trading on Tuesday.Revenue from the company’s aeronautics business, which makes the F-35 jet, rose 6.7 percent to $...Read More
CAT and UTX are just two Dow components trading higher after earningsA round of well-received corporate earnings reports has the U.S. stock market signaling a positive start. Pre-market gains for blue chips Caterpillar (CAT), Verizon Communications (VZ), and United Technologies (UTX) have Dow Jones Industrial Average (DJI) futures trading well above fair value, while the S&P 500 Index (SPX) and Na...Read More
The broad-market tracker is staring up at a $25 trillion market cap, among other key technical levelsIt's been a lengthy sideways chop for the S&P 500 Index (SPX) since the Jan. 26 all-time closing high of 2,872.87 -- with emphasis resting on the "chop" more so than the "sideways," given the high-volatility gaps and swings that have characterized the last few months of broad-market equity action....Read More