Momentum as well as technicals for the US dollar are bearish. Everyone is short the greenback. I will prefer to look for signs of profit taking on short US dollar positions. FOMC minutes on Wednesday, US December private ADP employment numbers on Thursday and US December nonfarm payrolls on Friday will affect the short term trend of the US dollar. Last year the focus of the markets was on intere...Read More
By Chris ThomasJan 3 (Reuters) - Miners gave Australian shares a jump-start on Wednesday, supported by rallying metal prices, while investors were also cheered by Wall Street's strong start to 2018.The S&P/ASX 200 index rose 0.2 percent, or 11 points, to 6,072.3 by 0026 GMT. The benchmark had closed marginally lower on its first day of trade in the year."We saw pretty strong Chinese data...Read More
An ounce of gold gains nearly $80 in the last three weeks. Greenback continues to suffer losses against its rivals. The XAU/USD pair's rally, which started after the pair refreshed its five month-low at $1236 on December 12, hasn't lost any strength on the first trading day of 2018, lifting the pair to its highest level in more than three months at $1315. As of writing, the pair was...Read More
* Oil trades near strongest levels since mid-2015* Retailers up after bullish note* Indexes up: Dow 0.4 pct, S&P 0.8 pct, Nasdaq 1.5 pct (Updates volume, adds details)By Caroline ValetkevitchNEW YORK, Jan 2 (Reuters) - U.S. stocks rose in the first session of the new year and the Nasdaq closed above 7,000 for the first time on Tuesday as investors were optimistic that 2018 will bring more gain...Read More
Gold ended 2017 on a strong and solid note with consistent daily gains throughout the final trading days of last year. The rally, which began on December 11th of last year when gold prices hit an intraday low of $1238 per ounce, continues into the New Year. Trading to just over $1300 per ounce on the final trading day of 2017, gold traders continue to have favorable sentiment to the safe haven ass...Read More
(Adds view on U.S. dollar, updates prices)Jan 2 (Reuters) - Latin American currencies firmed sharply on Tuesday as the dollar broadly retreated on bets for a slower pace of U.S. interest rate hikes while solid economic growth data in China bode well for the region's raw materials exports. A key dollar index hit a 3-1/2-month low, weighed by expectations of a slower pace of interest rate increases...Read More
* U.S. stocks close higher, boosting global shares* European equities close lower* Euro and sterling gain while dollar drops (Updates to U.S. market close; adds commentary)By Stephanie KellyNEW YORK, Jan 2 (Reuters) - The S&P 500 and the Nasdaq Composite notched record closing highs on Tuesday, the first trading day of 2018, while European equities finished lower and the U.S. dollar fell to it...Read More
(Adds trader comment, update prices)* Canadian dollar at C$1.2507, or 79.96 U.S. cents* Bond prices lower across the yield curve By Alastair SharpTORONTO, Jan 2 (Reuters) - The Canadian dollar strengthened to a 10-week high against its U.S. counterpart on Tuesday, the first trading day of 2018, as the greenback broadly fell and the price of oil held near its highest in 2-1/2 years.At 4 p.m. EST (...Read More
In our Midday Market Check newsletter, we highlighted the huge move from Switzerland-based gene editing firm Crispr Therapeutics (CRSP), but that was just part of a much larger theme today. A number of stocks with gene editing exposure saw sharp gains today, and one of the biggest returns came from Editas Medicine Inc (NASDAQ:EDIT). Just take a look at EDIT stock's peers, according to Google Finan...Read More
By Beth PinskerNEW YORK, Jan 2 (Reuters) - The first paychecks of 2018 will be dispatched soon, but it may be weeks or months before taxpayers and payroll processors know how the new U.S. tax laws will affect your take-home pay.The Internal Revenue Service said it expected to issue guidance in January on how much in taxes employers should withhold based on the new tax rates. Employers and payroll...Read More
The first trading day of 2018 started on a strong note, with the Dow up nearly 145 points out of the gate this morning. The blue-chip index peaked early in the session, though, despite upbeat manufacturing data and an extended slide for the U.S. dollar. While the Dow finished just off its intraday high, New Year's week is firmly on pace to extend its bullish track record -- and the S&P 500 and Nas...Read More
(Kitco News) - Gold prices continued to rally during after-hours trading on Tuesday, while palladium surged to a record high, as weaker U.S. dollar provided additional support for the precious metals.Spot gold on Kitco.com was last trading at $1,317.20 per ounce, up 1.13% on the day. Spot palladium was at $1,086.00 per ounce, up 3.13% on the day, after almost hitting $1,090 earlier in the session....Read More
(Adds details on market activity and updates prices to close)* TSX ends up 100.86 points, or 0.62 percent, at 16,309.99* Index posts record-high close* Five of the TSX's 10 main groups end higher* Energy rallies 2.3 percent, materials gains 2.7 percent TORONTO, Jan 2 (Reuters) - Canada's main stock index rose to a record high on Tuesday, the first trading day of the year, as the recent rally in...Read More
Jan 3 (Reuters) - Australian shares are seen edging higher on Wednesday after a quiet entry into the year, with investors expected to take heart from Wall Street's strong start to 2018.Material stocks are likely to buoy the Australian market, riding on a rally in metal prices.The local share price index futures rose 0.1 percent or 8 points to 6,030, a 31.3-point discount to the underlying S&P/...Read More
Jan 3 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6,061.3-3.8NZX 50**8,398.08 -10.45DJIA**24,797.4477.47 NIKKEI**22,764.94-19.04Nasdaq**6,997.17593.941FTSE**7,648.1-39.67S&P 500** 2,691.50 17.87 Hang Seng** 30,515.31596.16SPI 200 Fut 6,026.00.07STI** 3,430.327.38SSEC**3,349.05241.8799 KOSPI** 2,479.65 12.16------------------------------------------------------------...Read More
Jan 2 (Reuters) - The S&P 500 and the Nasdaq closed at record highs on Tuesday in the first session of the new year as investors were optimistic that 2018 will bring more gains for the market.The Dow Jones Industrial Average rose 104.42 points, or 0.42 percent, to 24,823.64, the S&P 500 gained 22.2 points, or 0.83 percent, to 2,695.81 and the Nasdaq Composite added 103.51 points, or 1.5 pe...Read More
ALL TIMES IN EST/GMT -------------------------------------------------------0700/1200: The USDA issues weekly world rice price.1000/1500: The Commerce Dept. issues Construction Spending for November.No set time: The Association of American Railroads issues Weekly Traffic of Major Railroads.1400/1900: The Federal Open Market Committee issues minutes from its Dec. 12-13 meeting.1630/2130: The Americ...Read More
* ECB's Coeure sees chance bond buys will not be extended* Wall Street gains add upward pressure on bond yields* U.S. Treasuries gained 2.3 pct in 2017 vs 19.5 pct for S&P 500 By Kate DuguidNEW YORK, Jan 2 (Reuters) - U.S. Treasury yields rose on Tuesday on strong Wall Street gains and in line with European government yields after a European Central Bank official said the ECB's massive bond p...Read More
TESARO Inc (NASDAQ:TSRO) stumbled to the finish line in 2017, shedding 2% in December alone. To make matters worse, the biotech stock is starting off 2018 reacting to a flurry of bearish analyst attention -- sending the shares even deeper into the red.Piper Jaffray and Cowen and Company both issued price-target cuts to $80 for Tesaro this morning. As such, TSRO stock has dropped 8.8% at last check...Read More
* Dollar pressured by doubts about Fed rate hike outlook* Euro rises as ECB seen normalizing rate policy* Yen rises vs dollar (Adds comment, updates prices)By Gertrude Chavez-DreyfussNEW YORK, Jan 2 (Reuters) - The dollar dropped on Tuesday to its lowest in more than three months, weighed down on the first trading day of 2018 by expectations of a slower pace of interest rate increases by the Feder...Read More