LONDON, Oct 12 (Reuters) - Britain will need a period ofcontinuity after the Brexit transition ends and before along-term partnership negotiated between London and Brusselscomes into force, Britain's finance minister said on Friday."We're not going to remain in anything indefinitely," PhilipHammond told Bloomberg Television on the sidelines of anInternational Monetary Fund meeting in Bal...Read More
President Trump has managed to secure the release of a U.S. evangelical Christian pastor being detained in TurkeyContinue...Read More
Indian local secondary billet prices fell in the second week of October by about 100 rupees per tonne while demand for semi-finished steel products remained weak and the number of buyer inquiries dwindled further, Fastmarkets has heard.The price for Indian domestic billet, which is mainly produced through the induction furnace method, was assessed by Fastmarkets on Friday October 12 at 33,200-33,4...Read More
The lofty stock markets suffered a sharp selloff this week that may prove a major inflection point. There was one lone Continue...Read More
I was looking for a gold and resource shares rally starting in the Jun/July timeframe followed byContinue...Read More
JOHANNESBURG, Oct 12 (Reuters) - The South African randfirmed against the globally hobbled dollar early on Friday aheadof the country's credit review announcement by ratings agencyMoody's later in the day.* The rand was 0.85 percent stronger at 14.5100 perdollar at 0650 GMT, having closed in New York at 14.6350. * The rand is expected to trade between 14.3500 and 14.7000to thedollar on Friday, NKC...Read More
Continue...Jim Rogers co-founded the Quantum Fund with George Soros in 1973, helping to steer the fund to a 4200% return before "retiring" at age 37. He is considered to be one of the greatest investors of all time. Rogers has made two record-setting journeys - once by motorcycle and once by car - and is in the Guinness Book of World Records for doing so. In between his frequent travels, he has se...Read More
NUSA DUA, Indonesia, Oct 12 (Reuters) - Too many euro zonecountries are missing the opportunity to reduce debt now, wheneconomic growth is good, to prepare for the next economicdownturn, the head of the International Monetary Fund's Europeandepartment Poul Thomsen said."Fiscal policy has been insufficiently counter-cyclical,"Thomsen told a news conference at the IMF's annual meetings inB...Read More
China's domestic rebar prices remained flat on Friday October 12 despite futures moving higher. Domestic Eastern China (Shanghai): 4,540-4,580 yuan ($656-662) per tonne, unchangedNorthern China (Beijing): 4,340-4,370 yuan per tonne, unchangedHigher futures failed to push up spot prices amid high selling interest as stockists actively ran down their inventories due to lack of confidence in the outl...Read More
SHANGHAI/HONG KONG, Oct 12 (Reuters) - China's onshore yuancurrency weakened against the dollar on Friday morning asunexpectedly strong China exports data renewed anxiety over theSino-U.S. trade war.The weakness followed a jump in late trading on Thursday,spurred by news that Washington will not accuse Beijing ofcurrency manipulation - seen as a sign of easing tensions. The People's Bank of China...Read More
NUSA DUA, Indonesia, Oct 12 (Reuters) - A seniorInternational Monetary Fund official said on Friday it was "tooearly" to talk about normalising monetary policy in Japan, as itwill take a long time to achieve the Bank of Japan's 2 percentinflation target"Do you think it's time for the Bank of Japan to exit easypolicy? The short answer is no," Odd Per Brekk, deputy directorof the...Read More
SYDNEY, Oct 12 (Reuters) - Australia's central bank on Friday laid out a laundry list of economic risks including falling home prices, high household debt, wide scale misconduct by banks and strains in global financial markets.In its 90-page Financial Stability Review, the Reserve Bank of Australia (RBA) emphasised the economy overall was improving but highlighted the threat from a housing slowdow...Read More
European stainless steel base prices were assessed as being stable this week, although bearish sentiment still pervaded the market because of excess supply, Fastmarkets heard on Friday October 12.The situation was largely unchanged from what was seen in the previous two weeks. A sharp drop in the alloy surcharges for October resulted in substantially lower transaction prices for material produced...Read More
Key data for the pricing session in the week ending Friday October 12. China China's domestic spot markets for ferro-chrome and UG2 chrome ore were relatively quiet in the first week after the national holiday, which ran October 1-7. Offers for imported charge chrome rose but liquidity...Read More
Bank earnings drove early upside in today's sessionFollowing this week's brutal two-day sell-off, U.S. stocks managed to finish today comfortably higher. The Dow got an early boost from well-received JPMorgan earnings -- though the blue-chip bank erased its gains by the close -- and FAANG stocks also snapped back from their recent losses. However, sentiment remained skittish, with the major equity...Read More
Meanwhile, IOVA is rallying on a favorable FDA updateThe U.S. stock market rallied out of the gate, but was last seen down from its earlier highs. Three stocks making notables moves today are health-centered direct selling specialist Youngevity International Inc (NASDAQ:YGYI), biotech Iovance Biotherapeutics Inc (NASDAQ:IOVA), and financial concern PNC Financial Services Group Inc (NYSE:PNC). Her...Read More
The drop in AAII bulls could be a buy signal for the stock marketAs the U.S. stock market began its recent reversal, Wall Street bulls hit the exits at a rapid-fire rate. In fact, the National Association of Active Investment Managers (NAAIM) exposure index dropped by nearly 32 points, or 37%, last week -- the biggest point drop since August 2013, and the biggest percentage drop since February 201...Read More
AAPL logged a two-day decline of 5.5% on Wednesday and ThursdayThe tech sector got hit particularly hard during the heavy selling on Wall Street this week. This recent pullback has likely created several bullish trading opportunities, too, with Apple Inc. (NASDAQ:AAPL) falling 5.5% from its Oct. 9 close of $226.87 to its Oct. 11 settlement at $214.45. The FAANG stock is bouncing back fast, though...Read More
This week's downturn could yield rallies from several stocksStocks earlier this week were clobbered, turning in their worst day in months. However, many individual stocks have flashed bullish signals in the wake of the bloodbath. If past is precedent, two healthcare names could climb into November: drugmaker Incyte Corporation (NASDAQ:INCY) and medical device maker ABIOMED, Inc. (NASDAQ:ABMD). Bot...Read More
I have been hearing for years how gold is manipulated to go down, and is expected to rise when allowed to trade freely. So, according to these manipulation theorists, gold is really only supposed to move in one direction and would never see any corrections.Yes, I know that sounds ridiculous, but this is a perspective in the market. And this is why so many were not able to foresee the correction wh...Read More