BRUSSELS/FRANKFURT (Reuters) - Euro zone inflation accelerated last month, providing further rationale for the European Central Bank’s decision to dial back stimulus even as growth is slowing more sharply than most had forecast.Consumer price growth in the 19 countries sharing the euro picked up to 2.2 percent in October from 2.1 percent last month, Eurostat said in a preliminary report, hol...Read More
Prices for hollow steel sections in Northern Europe have fallen this week following a decline in feedstock prices, Fastmarkets heard on Wednesday October 31.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe fell by ?,?10 per tonne to ?,?650-660 ($739-750) per tonne delivered on October 31, from ?,?660-670 per tonne delivered on Oct...Read More
MOSCOW (Reuters) - Russia’s drive to fill state coffers to give itself a $200 billion buffer against threats like new U.S. sanctions is prudent, analysts say, but will come at the expense of economic growth.With oil prices high, Russia has been steadily siphoning revenues from its major export into the National Wealth Fund (NWF). It has also raised oil industry taxes, hiked value-added tax a...Read More
* BOJ maintains policy and cut price forecasts* Advantest, Sony, Honda attract buying after earnings* Chiyoda nosedives after co expects lossBy Ayai TomisawaTOKYO, Oct 31 (Reuters) - Japan’s Nikkei bounced to a one-week high on Thursday as chip-related stocks surged in line with their U.S. counterparts, while first-half earnings from firms such as Sony and Honda supported sentiment.The Bank...Read More
DETROIT, Oct 31 (Reuters) - General Motors Co onWednesday posted far stronger-than-expected quarterly profit andsaid its full-year earnings forecast would come in at the highend of its forecast due to strong demand in North America.The Detroit automaker reported third-quarter net income of$2.53 billion, or $1.75 a share, compared with a loss last yearof $2.98 billion, or $2.03 a share. Last year's...Read More
* Graphic: World FX rates in 2018 By Saikat Chatterjee LONDON, Oct 31 (Reuters) - The dollar rose to its highestlevels in more than a year on Wednesday as dovish comments bythe Bank of Japan and weak data from China reinforced thegreenback's attractiveness as an investment destination.Fuelled by an overnight rally in equities - Japanese stocks are up more than 2 percent - the dollarwas set for a s...Read More
The world's fastest-growing vertically integrated global cannabis company could net investors a huge return in the months to come.The worldwide trend toward marijuana legalization has triggered a wave of growth opportunities for investors around the globe.Beyond the explosive Canadian market - this diversified cannabis operator maintains production, processing, and distribution facilities worldwid...Read More
MOSCOW, Oct 31 (Reuters) - Russia's rouble held steady onWednesday as the impact of the globally stronger dollar wasoffset by rising risk appetite and higher oil prices before thefinance ministry's weekly auction of government bonds.At 0747 GMT, the rouble was little changed at 65.57 againstthe dollar and 74.40 versus the euro.The rouble showed a muted reaction to the U.S. dollar'sadvance to 16-mo...Read More
The VIX just turned in its best month in over three yearsStocks closed out October with a flourish, as the Dow finished up over 240 points to cap off a hectic and volatile month. Despite tacking on more than 670 points over the last two days, the blue-chip index still turned in its worst month since January 2016. The S&P 500 and Nasdaq also finished strong today thanks to an upbeat round of corpor...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
Oct 31 (Reuters) - Finnish mining technology company Outotec cut its margin target for 2018 and said the impact ofproblems at one of its start-up operations is still unknown. "At this point, it is too early to assess the totalfinancial impact of the needed repair" Outotec said in itsthird-quarter report, referring to issues in one of its electricfurnaces, flagged on Friday. Outotec, whic...Read More
The cybersecurity firm posted impressive third-quarter earningsThe shares of FireEye Inc (NASDAQ:FEYE) are up 10.8% to trade at $18.88 -- headed toward their best day since May 2017 -- after the cybersecurity company reported third-quarter adjusted earnings of 6 cents per share on $211.65 million in revenue, more than analysts were expecting. The impressive results came as FireEye shifted to a sub...Read More
CloseGain/LossGold $1216.90-$6.70Silver$14.28-$0.20XAU64.28-1.77%HUI142.82-1.66%GDM525.44-1.36%JSE Gold1163.80-6.70USD97.01+0.02Euro113.25-0.20Yen88.62-0.03Oil$65.31-$0.8710-Year3.147%+0.028T-Bond138.25-0.65625Dow25115.76+0.97%Nasdaq7305.90+2.01%S&P2711.74+1.09% The Metals: Gold fell $11.50 to $1212.10 by midmorning in New York before it bounced back higher at times, but...Read More
Marijuana stocks are in "early internet" territory.Amazon's early investors walked away with over 79,000% in profits. And this same phenomenon is happening in the cannabis space right now.Remember, the dotcom bubble separated out the real companies from the fake.Which is why it's so important to "weed" out the companies that might not survive this volatile but opportune time.Now, the race has ser...Read More
(by Reuters from BOSTON, LBMA)The price of gold is expected to rise to $1,532 an ounce by October next year, delegates to the London Bullion Market Association's (LBMA) annual gathering predicted on Tuesday.Gold in USD (10 Years)A poll of delegates at the LBMA conference in Boston also predicted higher prices in a year's time for silver, platinum and palladium.Spot gold has had a difficult few m...Read More
Marijuana stocks are getting a lift from a recent bullish analyst noteThe shares of Aurora Cannabis Inc (NYSE:ACB) are up 10.8% to trade at $6.75 today, as several weed stocks enjoy sector tailwinds from the Canaccord Genuity bull note yesterday. The stock is now up 14% since Monday's close, and the surge has sparked a flurry of options trading for ACB. At last check, more than 6,400 options h...Read More
SBBP and KIN are also making big moves on the charts todayA round of upbeat earnings and economic data has the U.S. stock market up big today, though it's still staring at a sizable October deficit. Among individual names making notable moves are da Vinci Surgical System parent Intuitive Surgical, Inc. (NASDAQ:ISRG), rare disease specialist Strongbridge Biopharma plc (NASDAQ:SBBP), and veterinary...Read More
One investor guru thinks this may be the next big play to make in gold.The world's wealthiest investors always grab the headlines...Especially with a track record that's off the charts, producing explosive gains like this:$1.29 to $23.86, where $10,000 grew to over $184,000!Or how about his record-breaking score last month, 9 cents Canadian to C$1.18 in about 2 weeks, turning $10,000 into over $1...Read More
The shares are set for their biggest monthly loss in almost 10 yearsIt's been a brutal month for Amazon.com, Inc. (NASDAQ:AMZN), with the FAANG stock set to close out October with a 20% loss, its biggest monthly drop since November 2008. The swift decline took a notable slice out of Amazon's market cap -- which topped $1 trillion for the first time in early September, but closed last night at $748...Read More
Facebook and General Motors are big earnings winners todayStocks are pushing higher once more, with the Dow Jones Industrial Average (DJI) up 389 points earlier in the session. The blue-chip benchmark is making a frenetic push to trim its steep October losses, but is still heading toward its worst month since January 2016. The S&P 500 (SPX) and Nasdaq Composite (IXIC) are vaulting higher tod...Read More