FRANKFURT/LONDON (Reuters) - European steelmakers are pinning their hopes on the European Union being able to negotiate an exemption from new U.S. steel import tariffs that have raised fears of a damaging trade warShare prices initially fell across the European steel sector on Friday, but there was something of a mixed picture, with two of the bloc’s biggest producers saying the move will ha...Read More
While the Dow Jones Industrial Average (DJI) is higher today, thanks to a strong jobs report and easing geopolitical tensions between the U.S. and North Korea, the blue-chip index has been underperforming its tech-rich counterpart, the Nasdaq Composite (IXIC). What's more, if recent history is any indicator, this could be a bullish signal for U.S. stocks -- and the Nasdaq could extend its quest fo...Read More
(Reuters) - Chicago Federal Reserve Bank President Charles Evans on Friday said he wanted the U.S. central bank to keep interest-rate increases on hold until after March to allow inflation a chance to rise and even exceed the Fed’s 2-percent target.“My own preference would be to wait a little bit longer,” Evans said in a CNBC interview. “We could go midyear and all of a sud...Read More
Editor's Note: Gold and silver have 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. (Kit...Read More
The Dow Jones Industrial Average (DJI) jumped triple digits out of the gate, and hasn't looked back. Boosting the blue-chip index is this morning's blowout jobs report, while a modest rise in wage growth is helping to temporarily ease inflation fears. Traders are also cheering a planned meeting between U.S. and North Korean leaders. Intel (INTC) is the best Dow stock at midday, and the big surge f...Read More
HOUSTON (Reuters) - Two influential U.S. senators pushed President Trump on Friday to be more nuanced in his approach to trade, in the wake of his controversial decision to impose tariffs on most steel and aluminum imports.“I would hope that we would not treat every country like a one size fits all,” U.S. Senator John Cornyn, Republican of Texas and Senate majority whip, said at the CE...Read More
SEOUL/WASHINGTON (Reuters) - For at least two decades, leaders in North Korea have been seeking a personal meeting with an American president.Now, as a summit unexpectedly appears possible, analysts fear U.S. President Donald Trump’s understaffed administration may lack the expertise to successfully turn a political spectacle long sought by Pyongyang into a meaningful opportunity to convince...Read More
Still no immediate-term buy signal for gold as sideways trend persists.Dollar index refusal to reverse its 6-week trend is the prime culprit.Gold mining stocks also still under control of the sellers.Gold prices were slightly lower on Thursday as the equity market strengthened along with the U.S. dollar index. Gold's brief thrust above its 15-day moving average on Tuesday was ephemeral as there wa...Read More
Amazon.com, Inc. (NASDAQ:AMZN) stock is up 0.8% to trade at $1,564.33, and earlier hit a record high of $1,565.25, afterUBS upped its price target on the e-commerce powerhouse to $1,760 from $1,620. This represents a 12.5% premium from the security's current perch.Amazon stock rode its momentum from 2017 into the new year, already tacking on 33%. The shares have been guided higher by their 10-we...Read More
Editor's Note: Gold and silver have 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. (Kit...Read More
ROME (Reuters) - Long divided along economic lines, Italy is now also politically cleft after Sunday’s elections, with the anti-elite 5-Star Movement triumphing in the underdeveloped south and the right predominating in the wealthy north.Whoever ends up governing the country after the inconclusive March 4 ballot will not be able to ignore the gaping chasm, but will face deeply conflicting de...Read More
GOLD (in USD) Bearish breakout. Gold starts declining after reaching 1329. The pair is ready for another leg lower, approaching the 1310 range and hourly support given at 1300 (29/12/2017 low). Hourly resistance remains at 1348 (20/02/2018 high). Expected to show further declining moves. In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1&...Read More
Shares of Big Lots, Inc. (NYSE:BIG) have plunged 11.8% to trade at $47.51, after the Columbus, Ohio-based discount retailer said same-store sales unexpectedly declined in the fourth quarter. And while the company reported better-than-expected adjusted profit of $2.57 per share for the three-month period, its quarterly revenue of $1.64 billion and full-year per-share profit forecast of $4.75 to $4....Read More
Fiber optics stock Finisar Corporation (NASDAQ:FNSR) has slumped 11.2% out of the gate to trade at $17.95, after the company's fiscal third-quarter earnings report failed to meet expectations. Earnings and revenue for the period both missed estimates, and the company's current-quarter forecast was also lower than expected. As a result, a number of analysts are trimming their outlooks on FNSR share...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
BRUSSELS (Reuters) - The European Union expects to be excluded from U.S. steel and aluminum tariffs but will go to the World Trade Organization to impose its own measures if Washington presses ahead, EU officials said on Friday.U.S. President Donald Trump set import tariffs on Thursday of 25 percent on steel and 10 percent on aluminum but exempted Canada and Mexico and offered the possibility of e...Read More
BERLIN (Reuters) - The United States is missing out on a global boom for tourism, hurt by a so-called Trump slump and currency exchange rates, travel industry experts said at a gathering in Berlin this week.While U.S. President Donald Trump maintains that the travel ban blocking visitors from nations including Iran, Libya and Syria is needed to protect the United States from Islamic militants, the...Read More
Shares of department store concern Kohl's Corporation (NYSE:KSS) are moving higher, after Cowen and Company upgraded the stock to "outperform" from "market perform," and raised its price target to $74 from $66 -- territory not seen since May 2015. The brokerage firm waxed optimistic on several "competitive advantages," including Kohl's loyalty program, which it said could be attractive to potent...Read More
Chesapeake Energy Corporation (NYSE:CHK) is up 2.4% to trade at $3.05 this morning, after The Wall Street Journal reported the energy giant has engaged in asset sale talks with Tellurian (TELL).Chesapeake is reportedly seeking to cut $2-3 billion in debt through asset sales, anddiscussions apparently revolved around the company's Louisiana drilling fields. Chesapeake Energy stock has shed 25% ye...Read More
Earlier thisweek, I attended the annual Prospectors & Developers Association of Canada(PDAC) conference in Toronto. It is the premier destination for miningcompanies to mingle with suppliers, customers, potential investors,consultants, and analysts. Not only is this a must-attend event for professionalmining investors such as myself, PDAC can also be a very good gauge of sentimentin the gold s...Read More