Gold rebounds from 3-day lows but fails to break above $1,230/oz. Yellow metal receives support from lower US yields amid risk aversion. Gold climbed from $1,218/oz and peaked at $1,230 during the US session but found resistance and pulled back. As of writing was trading around $1,225 away from the highs but still on positive ground for the day. The metal continues to move in a conso...Read More
The VIX is set to snap its four-day losing streakLosses for the Dow Jones Industrial Average (DJI) are accelerating at midday, as investors continue to fret about the hawkish Fed meeting minutes and digest a big overnight sell-off in Chinese stocks. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also lower, as corporate earnings begin to take center stage. Elsewhere, Wall Street's "fear...Read More
The stock was overbought heading into today's tradingIntelsat SA (NYSE:I) has had a jaw-dropping run in 2018, up nearly 1,000% year-to-date. What's more, the shares hit a record high of $37.70 yesterday, but were last seen down 1.4% to trade at $36.96. Today's pullback may have been in the cards, considering I stock's 14-day Relative Strength Index (RSI) closed last night 77 -- deep in overbought...Read More
NVS will pay $2.1 billion in cash for ECYTSwitzerland's Novartis AG (NYSE:NVS) said it will pay $2.1 bllion in cash for Endocyte (ECYT) -- or $24 per ECYT share -- hoping to capitalize on the Indiana-based drugmaker's prostrate cancer treatment. Novartis also reported better-than-expected third-quarter profit and raised its full-year revenue forecast, even as quarterly sales fell just short of the...Read More
BofA-Merrill Lynch analysts think there's a chance housing recovers, thoughThe housing sector keeps disappointing, most recently evidenced by weak housing starts data yesterday. Meanwhile, shares of U.S. homebuilders continue to struggle, and this morning Toll Brothers Inc (NYSE:TOL) and PulteGroup, Inc. (NYSE:PHM) are both in the red once again. Below is a quick look at how shares of TOL and PHM...Read More
This is the second major announcement for SIRI within the past monthShares of streaming name Sirius XM Holdings Inc (NASDAQ:SIRI) are popping in early trading, after the company announced a new partnership with Amazon (AMZN) that includes offering a three-month trial of its products to consumers who purchase Amazon's Echo Dot smart speaker. In response, SIRI is up 1.3% at $6.33, at last check.It'...Read More
Uncertainty still hangs over the market following the Fed minutes releaseI stopped by CNBC's Squawk Box this morning, where the discussion centered around the aftermath of Wednesday's freshly released September Fed meeting minutes. The Federal Open Market Committee (FOMC) last met ahead of the equity market's wild October sell-off, and the minutes revealed that some members are now in favor of a r...Read More
CloseGain/LossGold $1225.10+$1.30Silver$14.57-$0.06XAU70.05+0.28%HUI155.48+0.16%GDM556.39+0.27%JSE Gold1198.81+8.42USD95.97+0.39Euro114.59-0.46Yen89.37+0.02Oil$68.65-$1.1010-Year3.182%-0.009T-Bond138.00+0.09375Dow25379.45-1.27%Nasdaq7485.14-2.06%S&P2768.78-1.44% The Metals: Gold dipped $5.10 to $1218.70 in Asia, but it then chopped back higher in London and New York and e...Read More
By Ira EpsteinGold shines while other metals break. https://www.iraepstein.com/ Read More
Source: Michael J. Ballanger for Streetwise Reports 10/17/2018 Precious metals expert Michael Ballanger discusses the bullish set-up for gold and why he believes this time is different. -->For the first time in months, Fido the Wonder Dog has been in my office and at the foot of my bed 24/7 for the past few days giving me great solace that the current advance in precious metals prices is he...Read More
Miles Franklin sponsored this article by Gary Christenson. The opinions are his.Predicting the end of the world, physical or financial, is seldom helpful. If the prediction is correct, how do you profit from the insight? If the prediction is wrong and the "end of the world" is delayed (typical), you lose credibility.An estimate of risk versus reward based on an analysis of current information is...Read More
When it goes up, prices go down. It's going up... By Adam TaggartThis is a revisitation of a report I wrote back in late 2016, predicting the imminent end of zero-bound interest rates and warning of the downward pressure that rising rates, mathematically, must place on today's elevated asset prices.Since the publication of that report, interest rates have indeed vaulted higher. Look at how the...Read More
"Policy would need to become modestly restrictive for a time." This is the key quote from the recent FOMC minutes. This is not a reason for gold's joy. Fed Is Becoming More Hawkish Yesterday, the Fed released minutes from the recent FOMC meeting. As everyone knows, the Committee hiked interest rates by another 25 basis points in September. But what about the future stance? Well, the minutes si...Read More
By Avi GilburtFor many years, I have been a staunch bull. In fact, many commenters and contributors on Seeking Alpha and MarketWatch were quite vocal regarding how they thought I was crazy back in 2016 for expecting the market to go from 1800 to over 2600SPX, and potentially up through 3000. Needless to say, many of them remained bearish throughout that rally. When many were extremely bearish i...Read More
The latest Fed meeting minutes will remain in focusDow Jones Industrial Average (DJIA) futures are trading below fair value this morning, with focus staying on yesterday's release of the Fed meeting minutes. Earnings also continue to roll through, as blue chip Travelers (TRV) released numbers this morning, and the post-close schedule is highlighted by American Express (AXP). For economic data, 210...Read More
- Do you own gold in the safest way possible?- Do you own gold via an exchange traded fund, a digital gold provider or another form of pooled gold?- Have you ever thought about how you would sell or access your gold if the internet went down or if your gold provider became compromised or un-contactable?- In this episode of the Goldnomics Podcast, we discuss how Direct Access Gold ensures liqu...Read More
CloseGain/LossGold $1225.10+$1.30Silver$14.57-$0.06XAU70.05+0.28%HUI155.48+0.16%GDM556.39+0.27%JSE Gold1198.81+8.42USD95.97+0.39Euro114.59-0.46Yen89.37+0.02Oil$68.65-$1.1010-Year3.182%-0.009T-Bond138.00+0.09375Dow25379.45-1.27%Nasdaq7485.14-2.06%S&P2768.78-1.44% The Metals: Gold dipped $5.10 to $1218.70 in Asia, but it then chopped back higher in London and New York and e...Read More
After several months during which gold moved almost entirely in reverse fashion to the dollar, ignoring other developments and barely acting as the haven asset it’s considered to be, this dynamic may be changing. Demand for the yellow metal seems to be picking up amid broader uncertainty in markets, evident by bullion prices remaining resilient lately even in the face of a soaring dollar. Wh...Read More
Buyers held back from trading in the export market for pig iron from the Commonwealth of Independent States during the week ended Thursday October 18, because there was enough material available for them to ignore high offer prices.Fastmarkets' export price assessment for high-manganese pig iron from the CIS was $360-370 per tonne fob Black Sea on October 18, narrowing downward from $360-375 per t...Read More
Upbeat trial results prompted an upgrade from RBCPenny stock Proteostasis Therapeutics Inc (NASDAQ:PTI) is up a whopping 184% ahead of the bell, set to open as the best stock on the Nasdaq this morning. The biotech name yesterday reported positive trial data for its combination therapy for cystic fibrosis (CF), and in response, RBC upgraded PTI to "outperform" from "sector perform," while boosti...Read More