NEW YORK (Reuters) - The S&P 500 turned lower on Thursday on a report that U.S. Special Counsel Robert Mueller had issued a subpoena for documents related to U.S. President Donald Trump’s businesses, reinforcing the picture of turmoil in the White House.The S&P fell to a session low soon after the New York Times report was released. The Nasdaq, already down, added to its losses, whil...Read More
BRUSSELS (Reuters) - Large companies with significant digital revenues in the European Union such as Google and Facebook could face a 3 percent tax on their turnover under a draft proposal by the European Commission seen by Reuters.The proposal, expected to be adopted next week and still subject to changes, updates an earlier draft which envisaged a tax rate of between 1 and 5 percent.The tax, if...Read More
UnitedHealth stock helped the Dow higher, howeverThe Dow finished over 100 points higher today, snapping a three-day losing streak thanks to a strong session from UnitedHealth (UNH) and upbeat economic data. However, the S&P and Nasdaq ended the day in the red, amid lingering concerns of a global trade war and reports that special counsel Robert Mueller recentlysubpoenaed the Trump Organization f...Read More
In preparation for an interview today with Kitco's Daniela Cambone I've put together some notes on the Kudlow appointment.For what it is worth:KudlowHis positions are well known....+Knocks on his bombastic persona and spotty track record are also well known+In 2007-2008 he vehemently came out saying everything was fine. And his math and logic in justifying his reasons were flawed by my cou...Read More
WASHINGTON (Reuters) - Democrats on a congressional oversight panel accused Republicans on Thursday of failing to insist that U.S. President Donald Trump’s administration comply with requests for records in an investigation of security clearance practices, use of private jets and private email accounts.Democrats said that at a committee meeting on Thursday, Republicans blocked requests that...Read More
WASHINGTON (Reuters) - President Donald Trump has not decided whether he will sign legislation that would allow U.S. officials to travel to Taiwan to meet with their Taiwanese counterparts, the White House said on Thursday.“A final decision hasn’t been made. We’ll keep you guys posted,” White House spokeswoman Sarah Sanders told reporters during a briefing.The legislation,...Read More
NEW YORK (Reuters) - The dollar rose for a second straight session on Thursday as traders further trimmed short currency positions and braced for next week’s Federal Open Market Committee meeting at which the U.S. central bank is expected to raise interest rates for the first time this year.The dollar index, which measures the greenback against a basket of six other major currencies, was up...Read More
Global stocks have been volatile recentlyThe White House has created an endless stream of headlines for the U.S. stock market to react to lately, with President Donald Trump's steel and aluminum tariff plan sending the Dow slumping into the month of March. Traders also responded to signs of potential trade wars with the European Union (EU) and China, as well as reports a May meeting between Trump...Read More
Who will win: bulls or bears? The LBMA published its annual forecast survey for precious metals prices in 2018. Gold prices range from $1,120 to $1,510. Where is the price of the yellow metal headed? Summary of the Survey The views of about 30 analysts in the 2018 forecasts are strongly divergent. The average price of gold is projected to be $1,318, so it is expected to be around the current level...Read More
(Reuters) - Online trading platform CMC Markets Plc said on Thursday it had launched contracts for differences (CFDs) and spreadbetting offerings for cryptocurrencies following significant interest from its users.CFDs and binary options are financial products that give an investor exposure to price movements in securities without actually owning the underlying assets such as a currency, commodity...Read More
Steve Holland, Doina ChiacuWASHINGTON (Reuters) - The United States slapped sanctions on Russian individuals and entities for U.S. election meddling and cyber attacks but put off targeting oligarchs and government officials close to President Vladimir Putin, prompting lawmakers in both parties to say President Donald Trump needs to do much more.With the United States under pressure to act, the act...Read More
(Reuters) - A pedestrian bridge spanning several lanes of traffic collapsed on Thursday at Florida International University in Miami-Dade County, trapping people and cars underneath the structure, with local media saying several people were killed.The bridge connects the university with the city of Sweetwater and was only opened days ago, CBS Miami reported. The channel showed footage of firefight...Read More
WASHINGTON (Reuters) - U.S. Special Counsel Robert Mueller has subpoenaed the Trump Organization for documents, including some related to Russia, the New York Times reported on Thursday, citing two people briefed on the matter.U.S. stock prices fell on the report, with the S&P 500 reaching session lows, while the dollar slipped against the euro and yen and yields on U.S. government debt moved...Read More
(Reuters) - Walmart Inc (WMT.N) was sued on Thursday by a former executive who accused the largest U.S. retailer of ignoring problems he uncovered in its e-commerce business, amid growing pressure from Amazon.com Inc (AMZN.O), and firing him in retaliation for his complaints.The plaintiff, Tri Huynh of Washington state, is seeking a variety of damages in his whistleblower lawsuit with the U.S. Dis...Read More
(Kitco News) - Kitco aficionados, it isnow time to have your say in where you think gold prices are heading in theshort-term.Will gold prices go higher, lower or remain unchanged nextweek? Kitco readers will have until 9 a.m. EDT, Friday to cast their vote. The results will be tabulated and released after noon (12PM EDT) along with the results fromour market professional survey.Readers can also se...Read More
Why bulls may want to root for a 5 seed this yearMarch Madness is officially underway, with Round 1 games kicking off today. While many of us here at Schaeffer's are rooting for our hometown teams Xavier and University of Cincinnati, stock market bulls may want to root for a 5 seed this year, if history is any indicator. Below are S&P 500 Index (SPX) returns from April through December, depending...Read More
By Shree Kargutkar Volatility is backThe calm of equity markets across the world was rudely interrupted in February by a sudden spike in volatility which impacted virtually every asset class. Volatility across equities, bonds, currencies and commodities rose sharply during the month and remained elevated into March. For the month of February, gold equities declined 10.10%, while gold bullion fell...Read More
BRUSSELS (Reuters) - U.S. Commerce Secretary Wilbur Ross and European Trade Commissioner Cecilia Malmstrom have agreed to meet next week in an attempt to resolve a deepening dispute over trade tariffs, a European Commission source said on Thursday.Ross and Malmstrom spoke on the telephone on Thursday and discussed U.S. plans to impose import duties of 25 percent on steel and 10 percent on aluminum...Read More
Gold prices fell Thursday to post a two-week low, as a stable dollar sapped some demand for the precious metal, but persistent trade tensions supplied a floor for the haven asset. April gold GCJ8, -0.30% fell $7.80, or 0.6%, to settle at $1,317.80 an ounce, marking its lowest finish since March 1. Gold futures ended lower Wednesday after up-and-forth trading that has set prices up for a loss of ro...Read More
FCAU recently bounced from its 80-day moving average Fiat Chrysler Automobiles NV (NYSE:FCAU) notched a record high of $24.95 on Jan. 25, before pulling back during the broader stock market correction. These losses accelerated recently on concerns over President Donald Trump's tariffs on steel and aluminum. However, the shares are now trading near a trendline that has had bullish implications, a...Read More