BONITA SPRINGS, Fla. (Reuters) - The Cboe Volatility Index .VIX, Wall Street’s so-called “fear gauge,” does not give the full picture of investor sentiment and other measures should be taken into account, speakers at a major derivatives conference said this week.A record spike in the index recently after years of muted activity has put the VIX back in focus as investors try to ga...Read More
WASHINGTON/SEOUL (Reuters) - Two senior South Korean officials arrived in the United States on Thursday to brief U.S. officials on their meeting this week with North Korean leader Kim Jong Un and Pyongyang’s apparent willingness to discuss denuclearization with Washington.South Korea’s National Security Office head Chung Eui-yong and National Intelligence Service chief Suh Hoon are exp...Read More
Mr. Matthew Hornor reportsMAPLE GOLD TARGETS HIGH-GRADE EXTENSION AT SE EDGE OF PORPHYRY ZONE Maple Gold Mines Ltd. has received its fourth and final permit and is now fully permitted for all drill sites and is ramping up significantly with five drill rigs now on site. The Douay gold project hosts several known higher-grade plums with variable diameters, with limited follow-up drilling within 100...Read More
Written by Jordan Roy-Byrne CMT, MFTAThe precious metals sector continues to correct and consolidate. Gold remains in a bullish consolidation. It recently reached resistance again and even though it has failed to breakout, it remains above long-term moving averages which are sloping upward. However, the gold stocks and Silver remain in correction mode. They are trading below the long-term moving...Read More
TD Securities calls silver an “attractive”bet after recent price weakness. “Silver, recently deemed the ugly duckling ofthe [precious-metals] complex, bounced off resistance at $16.80 [per ounce] andis now trending lower with precious metals,” TDS says. “Investor appetite forsilver remains lackluster as speculators recently piled on shorts, driving netexposure to its...Read More
Casino stocks Caesars Entertainment Corp (NASDAQ:CZR) and Wynn Resorts, Limited (NASDAQ:WYNN) are trading sharply higher out of the gate thanks to separate corporate updates. We'll dig into the news behind the moves seen from CZR and WYNN shares below. Tax Benefit Boosts Caesars' Bottom LineShares of Caesars Entertainment are trading up 5.6% at $13.20 after the company posted a per-share profit of...Read More
WASHINGTON (Reuters) - The U.S. State Department approved a total of $467 million worth of potential foreign military sales to Qatar and the United Arab Emirates, the Pentagon said in separate approval notices on Thursday.Raytheon Co was listed as the prime contractor for both the foreign military sales.The Qatar Emiri Air Force was approved for $197 million worth of equipment to upgrade its air o...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
(Kitco News)- Gold prices pushed deeper into negativeterritory after the European Central Bank seemingly took the first step towardnormalization of monetary policy by dropping its easing bias Thursday, analystssaid.Recently, the gold market hasbeen highly sensitive to currency markets, specifically movements in the U.S.dollar, but the focus could now be shifting to interest rates. Economists seeth...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
Shares of bulk grocery concern Costco Wholesale Corporation (NASDAQ:COST) are falling in early trading after the company reported weaker-than-expected earnings and same-store sales for the fiscal second quarter. But while brokerage firm RBC cut its price target to $205 from $209, it kept its "outperform" rating in place, adding the company's investments in e-commerce are helping drive more traffi...Read More
HOUSTON/NEW YORK (Reuters) - Global executives and traders are bracing for higher volatility in fuel markets as they expect refiners to process more light crude oil in the lead-up to new rules aimed at slashing the use of dirty high-sulfur fuel oil in global shipping.Beginning in 2020, shipping vessels will not be allowed to burn fuel with a sulfur content higher than 0.5 percent, down from 3.5 pe...Read More
Vascular Biogenics Ltd (NASDAQ:VBLT) is the worst stock on the Nasdaq today, down 65% to trade at $2.38 -- and just off a new record low of $2.30 -- after the biotech's brain cancer drug failed to meet its late-stage study goals. However, the company said it believes VB-111 "may still hold promise for other indications we currently or may study in the future."Prior to today's freefall, VBLT stock...Read More
Insurance giant Cigna Corporation (NYSE:CI) said it is buying pharmacy benefits firm Express Scripts Holding Company (NASDAQ:EXPR) for roughly $54 billion in cash and stock. Including Express Scripts' debt, the deal is worth around $67 billion. While EXPR shares have shot roughly 13% higher this morning to trade at $82.65 -- a discount to the per-share offer price of $96.03 -- CI stock has slumped...Read More
WASHINGTON/PARIS/BEIJING (Reuters) - President Donald Trump promised on Thursday to show great flexibility and cooperation toward the United States’ “real friends” as he prepared to impose import tariffs that have provoked warnings of a trade war from Europe and China.Trump had been expected later in the day to sign a proclamation imposing 25 percent tariffs on steel imports and...Read More
FRANKFURT (Reuters) - Unilateral decisions on trade policy are dangerous and disputes should be settled using international bodies, European Central Bank President Mario Draghi said on Thursday, in the wake of U.S. plans to impose tariffs on imports of steel and aluminum.“We are convinced that disputes should be discussed and resolved in a multilateral framework, that unilateral decisions ar...Read More
FRANKFURT (Reuters) - The European Central Bank dropped a long-standing pledge on Thursday to increase its bond buying if needed, taking another small step in weaning the euro zone economy off protracted stimulus.Keeping its broader policy unchanged, the ECB said it could still extend its 2.55 trillion euro ($3.16 trillion) bond purchase scheme beyond September if needed. But it omitted a referenc...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
LONDON (Reuters) - A sense of calm returned to global markets on Thursday, as traders took a break from worrying about a global trade war and focused instead on how fast the European Central Bank will end its 2.5 trillion euro stimulus program.European [.EU] and Asian [.T] share markets edged up - the former for a fourth day - after U.S. President Donald Trump suggested he may spare some key trade...Read More
Futures on the Dow Jones Industrial Average (DJI) are trading cautiously above fair value this morning as Wall Street continues to monitor the White House's tariff plans. In a tweet this morning, President Donald Trump said he was looking forward to a 3:30 p.m. ET meeting on the subject. This comes after more than 100 Republicans from the House of Representatives signed a letter urging the preside...Read More