(Reuters) - The New York Times Co (NYT.N), assailed by a U.S. president who brands it as “failing,” signed up more than 200,000 paying online subscribers in the third quarter, helping it top Wall Street estimates for both profit and revenue.Shares in the publisher rose 8 percent after quarterly results on Thursday showed digital-only subscribers rose to 3.1 million at the end of Septem...Read More
JAKARTA (Reuters) - The pilot of a Lion Air flight from Indonesia’s Bali island on Sunday made a radio alert minutes after take-off due to technical problems, but they were overcome and he pushed on to Jakarta. The same jet crashed on another flight hours later, killing all 189 people on board.Herson, chief of the airport authority for the Bali-Nusa Tenggara area, told Reuters that after the...Read More
Turkish steel producers made no purchases in the deep-sea scrap market on Thursday November 1, with a fresh offer of material from the Baltic Sea region failing to find a taker, according to market participants.A scrap merchant in the Baltic Sea region was heard offering 30,000-35,000 tonnes of HMS 1&2 (95:5) at $345 per tonne cfr on Thursday. No mill had accepted the cargo at...Read More
LONDON (Reuters) - Swiss bank UBS (UBSG.S) will expand training for staff investigating sexual misconduct claims, and introduce a confidential hotline to handle such allegations, an internal memo sent to staff seen by Reuters shows.The changes follow a review conducted by law firm Freshfields into how UBS handled a former junior trader’s initial allegation that she was raped in September 201...Read More
CloseGain/LossGold $1233.20+$16.30Silver$14.74+$0.46XAU67.19+4.52%HUI149.73+4.84%GDM544.52+3.60%JSE Gold1139.52-24.28USD96.27-0.74Euro114.11+0.86Yen88.87+0.25Oil$63.69-$1.6210-Year3.139%-0.008T-Bond138.50+0.375Dow25380.74+1.06%Nasdaq7434.06+1.75%S&P2740.37+1.06% The Metals: Gold climbed steadily higher throughout most of world trade and ended near its midafternoon New Yor...Read More
By Ira EpsteinChina and the US talk which caused gold to rally.https://www.iraepstein.com/ Read More
By Dave KranzlerOne of the proprietors of StockBoardAsset.com tweeted about two weeks ago wondering when the stock market was going to start pricing in a slow-down in the economy. To that I responded by pointing out that the DJ Home Construction index is starting to price in a housing market crash. Residential construction + all economic activity connected to selling and financing existing homes...Read More
Gold has once again fallen into a rut, dropping moderately for three consecutive days. This has occurred with the December contract having failed by $8 to achieve a $1254.10 rally target I'd flagged. The futures have since made a tentative bottom 0.60 above the $1212.80 correction target where I'd suggested bottom-fishing. We narrowly missed catching the $5.40 rally that ensued, but will it ge...Read More
Ukrainian steelmaker Metinvest increased its output of sellable semi-finished products by 18% year on year, to 2.3 million tonnes over the first nine months of 2018, supported by favorable market conditions.In particular, Metinvest's sellable pig iron output increased by 21% year on year in January-September 2018, to 1.2 million tonnes against 989,000 tonnes.Fastmarkets' assessment for the CIS exp...Read More
In our latest video update, we consider the performance of markets in a volatile October. Stock markets globally fell sharply while gold acted as a hedge in all currencies, rising 1.7% in dollars, 4.4% in euro terms and 4.2% in sterling terms.Stocks Fall Sharply in OctoberThe S&P 500 is just short of a 10% decline from its record September high and remains on pace for the worst month since 2009....Read More
EDENVILLE, South Africa (Reuters) - Earlier this year, Nick Serfontein wrote an open letter to South African President Cyril Ramaphosa asking him to take the views of white farmers on board as the government considers expropriating land without compensation to reduce rural poverty.Now Serfontein sits on a 10-person board advising the president where to go next, based on what he says is his own exp...Read More
(Reuters) - Top U.S. automakers reported another month of rises in sales of sports utility vehicles and pick-up trucks on Thursday as American consumers continued to shun sedans and hatchbacks.The country’s No. 2 producer, Ford Motor Co (F.N), reported a 6.7 percent rise in SUV sales to 67,554 units in October, while smaller rival Fiat Chrysler Automobiles NV (FCAU.N) (FCHA.MI) saw overall s...Read More
TEL AVIV (Reuters) - Teva Pharmaceutical Industries (TEVA.TA) (TEVA.N) raised its 2018 earnings outlook, said it was seeing “a very strong launch” for its long-awaited migraine treatment Ajovy and expects to launch generic EpiPen in the fourth quarter.Teva raised its full-year forecast for adjusted EPS to $2.80-$2.95, from a previous estimate of $2.55-$2.80 and its shares were 8.5 perc...Read More
Turkish billet prices increased over the past week due to the latest uptick in imported scrap values in the country, sources said on Thursday November 1.Fastmarkets' weekly price assessment for billet imports into Turkey was $465-470 per tonne cfr on November 1, up from $455 per tonne last week.Suppliers in the Commonwealth of Independent States (CIS) were offering billet in Turkey at around $470-...Read More
Steel billet import prices in Egypt fell in the week to Thursday November 1, on continuing limited demand in the country. Fastmarkets' weekly price assessment for steel billet imported into Egypt was $477-480 per tonne cfr on Thursday, compared with $480-490 per tonne cfr last...Read More
As gold and silver are consolidating, the mining sector is going into an interesting change. Young people are coming into the mining sector and new technologies are being brought in. Neumeyer does not believe central banks can afford to take rates much higher. Over the next couple years, he expects the Fed to cut rates which will be bullish for gold. The gold/silver price ratio is about 85/1. Neum...Read More
NEW YORK (Reuters) - BlackRock Inc (BLK.N) Chief Executive Larry Fink said on Thursday the United States is on a path to a full-fledged trade war against China as the world’s two largest economies engage in tit-for-tat tariffs.Fink is one of the most influential figures in global finance, who keeps up relations with politicians in many countries as leader of the world’s largest fund ma...Read More
Link to Slides and Sources: https://www.itmtrading.com/blog/disap...Lynette Zang has held the position of Chief Market Analyst at ITM Trading since 2002. Ms. Zang has been in the markets on some level since 1964. Her mission is to convert financial noise into understandable language. She has been a banker, a stock broker and studied world currencies since 1987. She believes strongly that we need t...Read More