EDINBURGH (Reuters) - Scotland and Wales are within reach of a deal with the central government over power-sharing, Scotland’s Nicola Sturgeon said on Wednesday, easing the pressure on the British government as it negotiates its exit from the European Union.Speaking after a meeting with Prime Minister Theresa May in London, Scotland’s First Minister struck a more positive tone than she...Read More
NEW YORK (Reuters) - Simmering political tensions roiled stocks and bonds across the globe on Wednesday, with U.S. yield curves continuing to flatten and stock markets losing ground as industrial companies took a beating.Despite strong economic data out of China and the United States this week, stock markets could not shake a hangover from Tuesday’s news that U.S. President Donald Trump was...Read More
WASHINGTON (Reuters) - U.S. television commentator and economic analyst Larry Kudlow said on Wednesday he had accepted an offer from President Donald Trump to become the White House’s top economic adviser, replacing Gary Cohn.“The president offered me the position last evening and I accepted,” Kudlow told Reuters, adding he thought the official announcement would come on Thursday...Read More
(Reuters) - The Dow Jones Industrial Average fell more than 250 points, or 1 percent, on Wednesday as industrial stocks tumbled over growing fears of a trade war with China after President Donald Trump sought to impose fresh tariffs.Trump is looking to levy tariffs on up to $60 billion of Chinese imports, targeting the technology, telecom and apparel sectors, sources told Reuters on Tuesday.The Tr...Read More
Shares of RKDA and SILC are having volatile sessionsAn extended pullback in Boeing shares is again dragging the Dow lower. Among individual names making notable moves are agricultural biotech Arcadia Biosciences Inc (NASDAQ:RKDA), credit services provider Equifax Inc. (NYSE:EFX), and cloud stock Silicom Ltd (NASDAQ:SILC). Here's a quick look at what's driving shares of RKDA, EFX, and SILC. RKDA S...Read More
WASHINGTON (Reuters) - The United States launched a challenge to Indian export subsidies at the World Trade Organization on Wednesday, saying they hurt U.S. companies by letting Indian exporters sell goods more cheaply, U.S. Trade Representative Robert Lighthizer said.India provides exemptions from certain duties, taxes and fees that benefit numerous Indian exporters, including producers of steel...Read More
(Reuters) - Alphabet Inc’s (GOOGL.O) Google said on Wednesday it will ban advertisements for cryptocurrencies and related content starting in June.Under the new policy, the company will ban ads for unregulated or speculative financial products like binary options, cryptocurrency and financial spread betting among others. bit.ly/2Inxgg8In a separate blog post, Google said it took down 3.2 bi...Read More
• Goodish USD rebound continues to exert downward pressure. • Traders shrug off today’s mixed US economic releases. • Improving risk appetite does little to revive safe-haven demand. Gold faded mixed US economic data-led early NA session spike back closer to $1330 and refreshed session lows in the last hour. Wi...Read More
Escalating concerns about a trade war with China are weighing on industrial stocks, and have the Dow lower in afternoon trading. However, while many traders fear Beijing could single out Boeing (BA), in particular, for retaliation, Apple Inc. (NASDAQ:AAPL) and several of its suppliers could also take a hit. According to data from Goldman Sachs, Apple suppliers Skyworks Solutions Inc (NASDAQ:SWKS)...Read More
BERLIN (Reuters) - German lawmakers on Wednesday re-elected Angela Merkel as chancellor for a fourth, and likely final, term that may prove her most challenging yet as she takes charge of a fragile coalition with her personal standing diminished.Lawmakers voted by 364 to 315, with nine abstentions, in favor of re-electing Merkel, a humbling start as the coalition of her conservatives and the cente...Read More
BRUSSELS (Reuters) - European Union lawmakers on Wednesday passed a non-binding resolution calling for an association agreement with Britain after it leaves the bloc.The European Parliament, which will have a yes-no vote on any Brexit deal between the EU and London, backed a broad-based “association agreement” with Britain for the future that goes beyond a narrow focus on trade. The vo...Read More
(Kitco News)- Whilecompanies are racing into the future to create the latest digital currency, onecompany has looked to the past for the ultimate global currency.U.K.-Basedfintech start-up Glint Pay continues to grow in popularity throughout Britainand Europe as the company has breathed new life into the gold market,monetizing the precious metal for the 21 century.Thecompany made international hea...Read More
By Paul FarrugiaThere has been an incredible amount of chatter as to how many times the Federal Reserve is going to raise rates in 2018, and the speed at which it will raise them by. For gold investors, the old question lingers, "What will rising interest rates mean for the price of gold?" The simple viewpoint has been that rising rates are bad for gold because gold is not an interest-bearing ass...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump has picked television commentator and campaign adviser Larry Kudlow to replace Gary Cohn as the director of the White House Economic Council, the Washington Post and CNBC reported on Wednesday.CNBC said the announcement of Trump's decision could come as soon as Thursday. Disclaimer: The views expressed in this article are those of the author and...Read More
More than two weeks ago, we described the very specific and very important pattern in the gold market, one of short- and medium-term importance. We wrote that the triangle apex pattern based on the intraday highs, pointed to a major reversal in the first half of March. The first half of March ends this week, so the key question is if the pattern was invalidated or are we about to see a major rever...Read More
(Kitco News) - Gold prices wereending the U.S. day session modestly lower Wednesday, pressured slightly by afirmer U.S. dollar index. The yellow metal ignored a batch of U.S. economicdata released earlier today, including a producer price index report that was abit hotter on inflation than expected. April Comex gold futures were last down$2.70 an ounce at $1,324.40. May Comex silver was last down...Read More
(Reuters) - The Dow Jones Industrial Average shed more than 250 points on Wednesday as U.S. manufacturers continued to suffer from concerns over the impact of new tariffs on trade.Boeing’s (BA.N) 4 percent fall contributed to about 100 points drop in the blue-chip index, with traders citing continuing fallout from Tuesday’s reports that U.S. President Donald Trump could impose tariffs...Read More
NEW YORK (Reuters) - Walmart Inc (WMT.N) will expand its grocery home delivery services to reach more than 40 percent of U.S. households, or 100 metro areas from an existing six, as the retailer steps up a fight against rival Amazon.com Inc (AMZN.O).The extra cost may hit Walmart’s bottom line, but increased spending on grocery delivery is seen as essential in the fierce battle for online or...Read More
Broadcom Ltd (NASDAQ:AVGO) is slated to report fiscal first-quarter earnings after the market closes on Thursday, March 15. The chip name could use a win, after ending its hostile bid for Qualcomm (QCOM), which was blocked earlier this week by President Donald Trump -- citing national security concerns. Ahead of tomorrow's earnings report, AVGO options are pricing in an outsized move for Friday'...Read More
The Dow Jones Industrial Average (DJI) opened up the session up triple digits as traders digested a slightly stronger-than-forecast inflation update and a third straight monthly drop in retail sales ahead of next week's March Fed meeting. The Dow has since swung to a more than 200-point loss at last check, though, as fears of a potential trade war with China -- following rumors the White House co...Read More