NEW YORK (Reuters) - U.S. inflation expectations edged higher last month, with one measure hitting its highest level in a year, according to a Federal Reserve Bank of New York survey published Monday that adds to signs of price pressures.The survey of consumer expectations, which the Fed considers among other data as it continues to gradually raise interest rates, showed median one-year ahead infl...Read More
Ayenat MersieNEW YORK (Reuters) - Oil prices fell on Monday as investors grappled with ongoing concerns over rising U.S. output and tight OPEC supply, while last week’s data showing speculators cut bets on oil suggested more selling could be seen.Brent crude futures LCOc1 were down 63 cents, or 1 percent, by 1:32 p.m. EDT (1732 GMT), to $64.86 per barrel.U.S. West Texas Intermediate (WTI) cr...Read More
Catherine Ngai(Reuters) - Goldman Sachs Group Inc (GS.N) unexpectedly announced on Monday that Harvey Schwartz will retire from the bank, leaving David Solomon as sole president and chief operating officer and the most obvious successor to Chief Executive Lloyd Blankfein.Schwartz and Solomon were named co-COO in December 2016 in a setup that appeared to pit the two against each other to eventually...Read More
Gold should have performed a lot better over the past two years - and especially the past two months. That's because both periods were characterized by the factors that, according to conventional wisdom, should cause gold to perform well: higher inflation and stock-market turmoil. Because gold GCJ8, +0.14% did not do well suggests that we should take a critical look at what makes gold a good inve...Read More
Hyperinflation is the most prominent factor that makes Venezuela the most miserable country in the world, according to the latest finding from famed economist Steve Hanke.In the latest update of his Misery Index, Hanke, economist at Johns Hopkins University, ranked 98 countries in terms of happiness in relation to their economic conditions."In the sphere of economics, misery tends to flow from hi...Read More
It's been a volatile day for stocks, with the Dow exploring a 282-point range on both sides of breakeven, but lower at last check. Among individual names making notable moves are semiconductor stock Micron Technology, Inc. (NASDAQ:MU), financial giant Goldman Sachs Group Inc (NYSE:GS), and biotech Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Here's a quick look at how shares of MU, GS, and MACK ar...Read More
Gold prices finished modestly lower on Monday, giving back the gains seen in the previous session as investors await U.S. consumer-price index data due Tuesday for the latest clue on the pace of Federal Reserve interest-rate hikes. Global risk-on sentiment, including some gains in the U.S. stock market in early Monday trading, seen after Friday's U.S. jobs report contributed to losses for the yell...Read More
Footwear concern DSW Inc. (NYSE:DSW) is expected to report its fourth-quarter earnings tomorrow before market open. DSW has shed 5.6% year-over-year, and has been trading below newfound resistance of the 50-day moving average since late January. Shares of DSW were last seen up 2.4% at $19.54. History suggests DSW could continue this positive price action tomorrow, considering the stock has had a...Read More
Retail earnings have been in the spotlight in recent weeks, and Dick's Sporting Goods, Inc. (NYSE:DKS) is next to take the mic, with its results slated for release before tomorrow's open. Ahead of the event, DKS stock was trading up 2.8% at $32.77, but the shares are running into potential technical resistance, and given their history of negative earnings reactions, today's rally could be short-li...Read More
(Kitco News)- Goldand silver prices were ending the U.S. day session modestly weaker Monday. Keenerrisk appetite in the world marketplace at present is keeping the buyers of thesafe-metals squelched. A weaker U.S. dollar index today did allow gold andsilver to move off of their daily lows that were scored in early dealings. AprilComex gold futures were last down $3.90 an ounce at $1,320.20. May Co...Read More
LONDON (LPC) - Senior participants are warning that today's market could be as good as it gets, despite a robust global economic backdrop and buoyant mood in the private equity and leveraged loan markets.Comparisons to 2007's pre-crisis conditions are becoming more common and industry figures are debating whether today's robust conditions constitute a bubble, as purchase prices rise, jumbo buyouts...Read More
MONTREAL (Reuters) - Canadian Prime Minister Justin Trudeau on Monday kicked off a tour of the nation's steel and aluminum regions to reassure workers worried that the United States could still introduce tariffs on the imports of the metals.Trudeau's first stop was the province of Quebec, the heart of Canada's aluminum industry, where he will be accompanied by Quebec Premier Philippe Couillard. He...Read More
Facebook Inc (NASDAQ:FB) was in the news recently, after inking an exclusive streaming partnership with Major League Baseball last week. Also making headlinesis Microsoft Corporation (NASDAQ:MSFT), in focus after Deutsche Bank raised its price target to $120 from $115. Meanwhile, options volume for both big-cap tech stocks has been hot in recent weeks.Both FB and MSFT stocks landed on Schaeffer's...Read More
(Kitco News)- The goldmarket could struggle to attract buyers in the near-term as markets focus onthe impending Federal Reserve interest rate hike next week, but one investmentfirm sees the potential for the yellow metal in the second half of the year asfocus turn to a lackluster U.S. dollar.In a recentinterview with Kitco News, Maxwell Gold, director of investment strategy andresearch at ETF Secu...Read More
Payrolls-related tailwinds helped boost the Dow Jones Industrial Average (DJI) to a triple-digit lead in early trading, but the lingering optimism toward last Friday's jobs data has since evaporated. At last check, Dow was down more than 100 points -- pressured by big drops for Boeing (BA) and Intel (INTC) -- while the S&P 500 Index (SPX) has also turned lower. Meanwhile, the Nasdaq Composite (IXI...Read More
(Kitco News)- Gold prices have recovered some of their early losses inlate-morning trading Monday. The yellow metal got a slight lift as the U.S.dollar index dropped to its session low and is trading modestly down on theday. Also, the U.S. stock indexes have backed way off their daily highs, whichis also supportive to the gold and silver markets. April gold was last down$4.90 at $1,319.10.By Jim W...Read More
Netflix, Inc. (NASDAQ:NFLX) hit a record high on Friday, but today the shares are trading 2.1% lower at $324.62, after Citron Research in a tweet said "the stock can be shorted back to $300. Content spend unsustainable long term." While this price target represents a nearly 8% pullback from current levels, NFLX was trading below $300 as recently as last Monday. Short interest on Netflix is actuall...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Shares of semiconductor concern Intel Corporation (NASDAQ:INTC) are slightly lower following a Wall Street Journal report suggesting the company is considering making an offer to buy Broadcom (AVGO), providing yet another twist in the latter firm's pursuit of Qualcomm (QCOM). Intel responded with a statement downplaying the M&A buzz, saying it's instead focused on integrating its previous acquisit...Read More
RBC raised its price target on shares of Freeport-McMoRan Inc (NYSE:FCX) to $22 from $18 -- representing expected upside of more than 19% to Friday's close at $18.43, and sitting in territory not seen since May 2015. While FCX stock has dropped 0.2% in early trading to hover near $18.39, the brokerage firm's upbeat outlook is likely in response to the equity's longer-term uptrend. Specifically, th...Read More