It's been a wild ride for the U.S. stock market, with the Dow and S&P 500 Index (SPX) set to snap its longest monthly win streaks in decades -- and the Cboe Volatility Index (VIX) on track for its best monthly gain since August 2015. Amid this volatile trading environment, the VIX premium moved to a discount for the first time since October 2016 last week, and has since swung to a more extreme rea...Read More
(Kitco News)- In its continued attempted to promote innovation in themining Sector, Goldcorp is giving four companies the opportunity to presenttheir ideas to #disruptmining and win $1 million in potential investmentcapital.Luis Canepari, vice-president of technology at Goldcorp(NYSE: GG, TSX: G,) said the company went through hundreds of submissions tofind the best of the best in innovation. He a...Read More
SAO PAULO, Feb 28 (Reuters) - Mexican equities fell sharply again on Wednesday, posting their biggest monthly loss since September 2011, as a mediocre corporate results season wrapped up and uneasy negotiations continued for the North American Free Trade Agreement.Markets also continued to be spooked following a relatively hawkish speech by the newly appointed head of the Federal Reserve Jerome Po...Read More
* Spot gold may fall to $1,303/oz - technicals* Dollar index rises to highest since Feb. 9 * Fed's Powell strikes hawkish tone(Recasts, updates prices; adds comment, NEW YORK to dateline)By Renita D. Young and Maytaal AngelNEW YORK/LONDON, Feb 28 (Reuters) - Gold prices steadied on Wednesday after the previous session's more than 1 percent fall following comments by the Federal Reserve's new chair...Read More
The shares of agricultural concerns CF Industries Holdings, Inc. (NYSE:CF) and Mosaic Co (NYSE:MOS) have been strong the past few months, but if recent history is any indicator, the stocks could be poised to pull back in March. In fact, looking back over the past 10 years, CF and MOS stocks have generated the worst monthly returns of all S&P 500 Index (SPX) stocks, according to data from Schaeffer...Read More
MEXICO CITY, Feb 28 (Reuters) - Mexico's economy will grow between 2 and 3 percent in 2018, the central bank said in a quarterly report on Wednesday, leaving its forecast unchanged from the last report. The Banco de Mexico's inflation report said a delay in the ongoing renegotiation of the North American Free Trade Agreement, or an unfavorable outcome to the talks, are risks to growth, along with...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
Blue chip Procter & Gamble Co (NYSE:PG) has been getting crushed since the company's disappointing earnings release last month. In fact, PG shares are pacing toward an 8.4% February loss, which would stand as its third-worst monthly performance in the past 10 years, and the biggest since February 2009. The stock was last seen trading down 1.7% at $79.14, breaking below its recent consolidation ato...Read More
* LME/ShFE arb: * GRAPHIC-2018 asset returns: * Lead headline inventories jump 12 pct (Adds closing prices, Aluminium tom/next, Chile copper)By Zandi ShabalalaLONDON, Feb 28 (Reuters) - Copper prices sank to their lowest in over two weeks on Wednesday as the dollar advanced on prospects of higher interest rates and growth in China's manufacturing sector slowed in February.Benchmark copper on the L...Read More
The Dow Jones Industrial Average (DJI) was up triple digits at its intraday peak, as stock traders initially celebrated the latest gross domestic product (GDP) estimate and shook off concerns about Fed rate hikes. However, the Dow and S&P 500 Index (SPX) have since turned lower, weighed down by healthcare and energy stocks. At last check, April-dated oil futures were 1.8% lower at $61.86 per barr...Read More
Akamai Technologies, Inc. (NASDAQ:AKAM) has been hot in 2018, thanks mainly to the cloud concern's post-earnings bull gap earlier this month. Analysts were quick to chime in with price-target hikes after the results, too, which helped send AKAM stock soaring back near its Jan. 9 annual high of $69.56. And even though this recent price action just echoes the equity's longer-term uptrend, with AKAM...Read More
Markets, including gold, react to latest Fed testimony.Gold ETF (IAU) violates pivotal immediate-term support in the process.My recommended stop-loss in IAU was consequently violated.Gold suffered a setback on Tuesday after financial markets reacted negatively to the Congressional testimony of the new Federal Reserve chief. The gold price didn't violate its Feb. 7 pivotal low discussed in the prev...Read More
ABUJA, Feb 28 (Reuters) - The International Monetary Fund (IMF) projects that Nigeria will "muddle through" with its economic policies in the medium term, according to a report seen by Reuters on Wednesday.The lender warned that "comprehensive and coherent" economic policies "remain urgent and must not be delayed by approaching elections and recovering oil prices".The...Read More
* Fed chair's testimony read as striking hawkish tone* Weaker-than-expected U.S. data fails to tarnish dollar* Euro zone inflation slows, clipping euro bulls* Yen edges higher after BoJ trims super-long JGB buying (Recasts, adds comment, FX table, updates prices, changes byline, dateline; previous LONDON)By Gertrude Chavez-DreyfussNEW YORK, Feb 28 (Reuters) - The dollar rose to five-week highs on...Read More
Best Buy Co Inc (NYSE:BBY) is scheduled to report fourth-quarter earnings ahead of tomorrow's open. Retail earnings have been coming in hot this week, with shares of Macy's (M) and Etsy (ETSY) gapping higher post-earnings. Although BBY stock has a recent history of negative earnings reactions, there's plenty of skepticism priced into the outperforming retail shares -- and a rare earnings win could...Read More
Frontier Communications Corp (NASDAQ:FTR) stock is down 25.3% to trade at $6.90, after the telecom company suspended its quarterly cash dividend.In response, Jefferies downgraded FTR stock to "hold" from "buy," and took a hatchet to its price target -- cutting it by 68%, to $8 from $25 -- with the analysts stating they "see no near-term catalyst to lift [the] shares." In addition, three other bro...Read More
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.(Kitco...Read More
An anonymous director reports ASCOT ANNOUNCES PRIVATE PLACEMENT FINANCINGAscot Resources Ltd. has entered into an agreement with Sprott Capital Partners and Primary Capital Inc., in connection with a marketed private placement to raise gross proceeds of $5,000,440.The offering will consist of 3,356,000 common shares of the company that will qualify as flow-through shares at a price of $1.49 per fl...Read More
BloombergEmployees prepare fabric for clothing at the 9B Apparel manufacturing facility in Los Angeles. The numbers: Chicago PMI slipped in February to a reading of 61.9, a six-month low, from 65.7 in January. 1)#Chicago #Business #Barometer declines 3.8 points to 61.9 in Feb from 65.7 in Jan #chicagopmi pic.twitter.com/rZVJc18YXZ— MNI Indicators (@MNIIndicators) February 28, 2018 What hap...Read More
Valeant Pharmaceuticals Intl Inc (NYSE:VRX) stock has plunged nearly 10% to trade at $16.71, after the Bausch + Lomb parent said revenue fell 10% in the fourth quarter to $2.16 billion -- just below the average analyst estimate. And while the drugmaker's adjusted earnings of 98 cents per share were one penny more than the consensus forecast, VRX gave disappointing full-year revenue guidance.VRX st...Read More