Toy stocks Hasbro, Inc. (NASDAQ:HAS) and Mattel, Inc. (NASDAQ:MAT) both gapped lower last week on the liquidation plans ofToys 'R' Us. Over the weekend, Barclays added salt to the stocks' proverbial wounds, cutting its price target on HAS, and downgrading MAT shares.Hasbro Stock Eyes Fifth Straight LossHasbro stock is down 0.8% to trade at $90.75, after Barclays reduced its price target to $100...Read More
Dow stock Merck & Co., Inc. (NYSE:MRK) has fallen under pressure in recent months. MRK shares suffered a huge bear gap back in October after the company pulled its European marketing application for Keytruda, and last month they were hit when rival Bristol-Myers Squibb (BMY) announced a positive trial update for Opdivo. However, Merck stock is bouncing today following a bullish brokerage note. Spe...Read More
(Kitco News)- Largespeculators’ net positioning did not change much in gold futures but the netbearish position in silver was scaled back according to the latest datagathered by the Commodity Futures Trading Commission.Duringthe week-long period through March 6 that was covered by the report, Comex April gold rose $16.60 to $1,335.20an ounce. May silver rose 35 cents to $16.784.Netlong or sh...Read More
(Reuters) - Goldman Sachs Group Inc (GS.N) said on Monday that Harvey Schwartz, the bank's President and co-Chief Operating Officer, will retire on April 20.A Goldman Sachs sign is displayed inside the company's post on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2017.The bank said David Solomon will serve as sole president and Chief Operating Officer.The Wall Stre...Read More
(Reuters) - U.S. stock index futures pointed to a higher opening for Wall Street on Monday, building on gains from last week's strong February jobs data that allayed fears of rising inflation and faster interest rate hikes.Wall Street's main indexes closed up nearly 2 percent on Friday after data showed U.S. job additions in February grew by a strong clip but wage growth was sluggish."The mar...Read More
BERLIN (Reuters) - Germany and its European Union partners must act quickly to find common ground on a European investment budget, German Chancellor Angela Merkel said on Monday, before signing an agreement on her new coalition government.German Chancellor and leader of the Christian Democratic Union (CDU) Angela Merkel, leader of the Christian Social Union (CSU) Horst Seehofer and leader of the S...Read More
LONDON (Reuters) - World stocks surged to a two-week high on Monday after strong U.S. jobs data at the end of last week helped take the edge off investors' concerns about the potential outbreak of trade war between the United States and other major economies.European shares shot up across the board, following their Asian counterparts, while emerging market currencies strengthened as investors boug...Read More
(Reuters) - DowDuPont Inc chief Andrew Liveris will step down on April 1, making good on an earlier promise to retire as the company named existing managers to head its materials science unit when it is spun off as Dow next year.Jim Fitterling, currently chief operating officer of the materials science unit, will become its chief executive under the Dow brand in a spin-off planned for the first qu...Read More
BRUSSELS (Reuters) - The European Commission said it expected to be in contact with the United States over steel and aluminum tariffs this week, but added that no formal talks were scheduled."No meetings as such are planned at the moment between U.S. and EU authorities," a spokesman for the European Commission told a regular news conference."But we expect contacts to take place at s...Read More
Stocks closed last week on a strong note, and they're set to carry that momentum into this week, with Dow Jones Industrial Average (DJI) futures trading above fair value. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are signaling upside, too, with the latter index poised to follow the Nasdaq Composite (IXIC) to fresh record highs. The economic calendar is rather bare today, giving investors...Read More
LONDON (Reuters) - The euro's rally on Monday fizzled as a more-dovish-than-expected central bank meeting last week continued to weigh on the single currency, while a revival in risk appetite hurt the dollar against higher-yielding currencies.Strong U.S. jobs numbers and receding fears over a trade war helped a rebound in markets, and when markets have rallied this year the euro has tended to bene...Read More
(Kitco News)- Gold continues to see selling pressure as both theshort-term fundamentals and the technical picture have deteriorated. Gold'sfailure to break above the $1,337 level early last week and the subsequentbreak of $1,322 overnight suggests the technical picture may have turnedbearish. The FOMC meeting next week is expected to bring a 25-basis-pointincrease in rates, especially after Friday...Read More
Gold might be range-bound lately but the metalis still holding up due to its safe-haven status, says commodities brokerage SPAngel. Stock-index futures are pointing to a higher open on Wall Street in thewake of Friday’s news that the U.S. economy added 313,000 jobs last month. Butwhile lower, gold has not sold off sharply. “The precious metal still holds itshaven status, remaining pers...Read More
(Kitco News)- Gold is lower again this morningand last week's rally to $1,340 is a distant memory. The only thing that canhelp gold here is the oversold conditions and a dead-cat bounce. The pattern ingold is ugly, making lower highs and lower lows. Now, $1,300 is the key levelthat gold must hold or $1,240 is in the cards.There are so many things that arein play here when it comes to the metals. T...Read More
* Stocks jump to two-week high after U.S. data* Report shores up bets on more U.S. rate hikes* GRAPHIC-2018 asset returns: (Updates prices, adds comment)By Jan HarveyLONDON, March 12 (Reuters) - Gold fell on Monday as theprevious session's upbeat U.S. payrolls data sparked a freshrally in stock markets and shored up expectations that theFederal Reserve would press ahead with further interest rater...Read More
(Kitco News)- Goldprices are again moderately lower in early U.S. trading Monday. Growing riskappetite in the world marketplace at present is prompting selling pressure inthe safe-haven metals. U.S. and world stock markets have made solid reboundsfrom the sharp losses seen in January and February. April Comex gold futures were last down $6.20 an ounce at $1,317.80. May Comex silver was last down $...Read More
"If the market is destined to chop in the days ahead, the put-heavy [SPY] 270 strike is one to watch as potential overhead resistance. Although this wasn't the case when equities rebounded from their lows early last month, often times put-heavy strikes like 270, after being broken, act as resistance on the rally back."-- Monday Morning Outlook, March 5, 2018$VIX closed below 18.30-18.66 area for s...Read More
• Fails to build on Friday’s rebound amid fading safe-haven demand. • A goodish pickup in the US bond yields adds to the downward pressure. • Weaker USD helps limit immediate sharp downfall. Gold extended its post-NFP consolidative price action and remained confined within a narrow trading range around the $1320-25 band. W...Read More
The US mining industry is asking the Supreme Court to revoke an Obama-era rule banning the mining of uranium on public lands nearby the Grand Canyon.The National Mining Association (NMA) and the American Exploration and Mining Association (AEMA) filed petitions on Friday asking the court to reverse the 2012 ban implemented by the previous administration as uranium prices soared and a flurry of n...Read More
There's a strange thing about the fear going through the global mining industry after the Democratic Republic of Congo signed an order to lift royalties last week: Compared with most other countries, these levies are still relatively low.The existing 2 percent rate on copper extraction compares with royalties five times that level in Chile and Peru, the two biggest producers.Even at the new 3.5...Read More