(Kitco News) - With gold hitting a seven-week high last Wednesday, manyinvestors are hoping to see strong momentum carry over into this week.But one trader is also warning that while the gold market isready for a breakout, investors still need to be patient. Bill Baruch,president of Blue Line Futures, said on Monday said that it is only a matter oftime before gold breaks its current trading range...Read More
(Reuters) - Shares of American optical components makers fell on Monday after the U.S. Department of Commerce decided to ban companies from selling components to Chinese telecom equipment maker ZTE Corp for seven years.ZTE pleaded guilty last year in federal court in Texas for conspiring to violate U.S. sanctions by illegally shipping U.S. goods and technology to Iran.Shares of Maynard, Massachuse...Read More
Conflict with Syria should bolster gold's safe-haven demand.Silver has lagged, but is not a major factor for gold right now.Oil price strength is pointing to higher gold prices intermediate term.As if investors don't have enough incentives for safety purchases of the yellow metal, they just got another one over the weekend. The U.S.-led air strike on Syria in retaliation for the apparent use o...Read More
LONDON (Reuters) - Britain backs Queen Elizabeth’s son and heir, Prince Charles, to succeed her as head of the Commonwealth network of 53 mostly former British colonies, a spokesman for Prime Minister Theresa May said on Monday.“The UK supports the Prince of Wales as the next head of the Commonwealth. He has been a proud supporter of the Commonwealth for more than four decades and has...Read More
(Kitco News)- One international fund manager is recommending thatinvestors pay more attention to what is happening in the gold market comparedto bond markets and interest rates, as the yellow metal continues to hold itsground despite rising real interest rates.In a recent interview with Kitco News, Ronald-PeterStoeferle, fund manager at Incrementum AG and author of the annual In Gold WeTrust repor...Read More
(Kitco News) - Gold prices wereholding modest gains in midday trading Monday, which is impressive given theupbeat trader and investor attitudes in the marketplace to start the tradingweek. June Comex gold futures were last up $3.30 an ounce at $1,351.20. May Comex silver was last up $0.057 at $16.715 an ounce. Themarketplace late last week had fully anticipated the U.S.-led missile attack onSyri...Read More
The drug stock has quadrupled since its May lowsIn what's been a wild day for drug stocks, Dynavax Technologies Corporation (NASDAQ:DVAX) shares are climbing, up 4.9% to trade at $20.72, getting a halo lift from drug name Merck (MRK), which reported upbeat data on its cancer drug, Keytruda. Dynavax also reported encouraging data with its own cancer treatment, SD-101, amid the annual American Asso...Read More
TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe could find his oft-touted close ties with Donald Trump sorely tested at a summit this week in which Tokyo fears the U.S. leader will to try to link vital security matters with touchy trade topics.It is a fraught time for both sides, and comes as Trump prepares to meet with North Korean leader Kim Jong Un, whose government has been openly antagon...Read More
LONDON (Reuters) - Prime Minister Theresa May said Britain was determined to prevent the use of chemical weapons becoming normalized, responding to questions in parliament about her decision to authorize air strikes against Syria.Asked whether she could order new strikes if chemical weapons were found to have been used in the future, May said: “Nobody should be in any doubt of our resolve to...Read More
Transport stock J B Hunt is the top S&P 500 performer after earningsThe Dow Jones Industrial Average (DJI) is holding higher today, trading up200 points, thanks to a Keytruda-induced pop from Merck (MRK). In fact, the rise in MRK shares is providing a lift for the broader healthcare sector, a big reason the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are tracking the Dow higher. Investors are...Read More
AMMAN (Reuters) - After Syrian forces bombed the town of Douma earlier this month in an attack the United States says involved chlorine gas, Washington and its allies launched missile strikes as punishment.The retribution has changed little in the course of the seven-year civil war, but the alleged poison gas attack did.Rebels had held the stronghold of Douma, near the capital Damascus, for years...Read More
General Electric is slated to report its first-quarter earnings Friday morningIndustrial conglomerate General Electric Company (NYSE:GE) has emerged as one of the worst Dow stocks in history over the past year. With the company's quarterly earnings report due at the end of this week, GE made Schaeffer's Senior Quantitative Analyst Rocky White's list of 20 stocks that saw the heaviest weekly opti...Read More
DAMASCUS/THE HAGUE (Reuters) - The United States accused Russia on Monday of blocking international inspectors from reaching the site of a suspected poison gas attack in Syria and said Russians or Syrians may have tampered with evidence on the ground.Moscow immediately denied the charge and blamed delays on retaliatory U.S.-led missile strikes on Syria at the weekend.In the fraught aftermath of th...Read More
LONDON (Reuters) - Oil recovered some ground on Monday, but prices were still down on the day as investor concern waned about escalating tensions in the Middle East following air strikes on Syria over the weekend.The United States, France and Britain launched 105 missiles on Saturday, targeting what they said were three chemical weapons facilities in Syria in retaliation for a suspected poison gas...Read More
(Kitco News) - Legendary investor Jim Rogers says market participantsshould enjoy the rally in stocks while it lasts, issuing a dire warning that“the worst correction of his lifetime” is coming.U.S. stocks opened higher on Monday as the corporateearnings season continued, with Bank of America reporting better-than-expectedquarterly results.The Dow Jones Industrial Average rose 182 poi...Read More
WASHINGTON (Reuters) - U.S. retail sales rebounded in March after three straight monthly declines as households boosted purchases of motor vehicles and other big-ticket items, suggesting consumer spending was heading into the second quarter with some momentum.The Commerce Department said on Monday retail sales increased 0.6 percent last month after an unrevised 0.1 percent dip in February. January...Read More
Packaged food stocks like KHC have been crushed over the past yearKraft Heinz Co (NASDAQ:KHC) stock is trading down 0.9% today at $60.38, following a double downgrade to "underperform" from "outperform" at Credit Suisse. The covering analysts dropped their price target to $55 from $77, and lowered their next two years' earnings-per-share estimates, based on a belief management will struggle to inn...Read More
Getty ImagesSales at U.S. retailers rose in March for the first time in four months as consumers end a shopping hiatus. The numbers: Sales at U.S. retailers rose 0.6% in March to end a streak of three straight declines, the Commerce Department reported Monday, underscoring the improved financial picture of American households and the resiliency of an economic expansion that could turn out to be t...Read More
BERLIN (Reuters) - Germany’s Europe minister called on Monday for a new policy of easing tensions with Russia, adding to a chorus of voices pressing Chancellor Angela Merkel to moderate her hardened stance towards the Kremlin.The conservative chancellor swung behind Britain after the poison attack on a former Russian double agent in England last month, expelling four diplomats despite uneasi...Read More
(Reuters) - Dallas Federal Reserve Bank President Robert Kaplan on Monday forecast falling unemployment, rising wages, and solid economic growth this year and next, but warned that without structural reforms, future growth will suffer.Policies that increase immigration, allow the U.S. to take advantage of globalization and trade, reduce government debt growth and boost educational attainment are a...Read More