J.P. Morgan Securities lifted its rating on the chip stock to "overweight"J.P. Morgan Securities upgraded Nvidia Corporation (NASDAQ:NVDA) to "overweight" from "neutral," saying investors aren't pricing in potential upside catalysts from gaming trends and the chipmaker's self-driving car technology. However, with the stock pacing for its worst month in years, the brokerage firm lowered its NVDA pr...Read More
BRUSSELS (Reuters) - The euro zone grew much less than expected in the third quarter and economic confidence continued to fall, official estimates showed on Tuesday, as signs of distress became more evident in Italy, the bloc’s third biggest economy.The European statistics office Eurostat said economic growth in the 19 countries sharing the euro slowed to 0.2 percent in the third quarter aga...Read More
BERLIN, Oct 30 (Reuters) - Inflation in Germany's most populous regions accelerated in October to reach the highest level in many years, data showed on Tuesday, adding weight to the European Central Bank's case for gradually winding down its unprecedented monetary stimulus.With price pressures building in the euro zone, the ECB last week confirmed its plan to end its 2.6 trillion euro bond-buying...Read More
An analyst said the stock will be grounded until margins improveSouthwest Airlines Co (NYSE:LUV) is trading up 0.4% at $48.10, despite J.P. Morgan Securities downgrading the stock to "underweight" from "neutral" and cutting its price target to $52 from $63. In the firm's note, it mentioned the shares will be stalled until the company improves its margins. LUV has been stuck in a recent sell-off, w...Read More
UAA recently found support at its 320-day moving averageThe shares of Under Armour Inc (NYSE:UAA) are up 17.2% ahead of the bell, powered higher by the retailer's blowout third-quarter earnings report. Under Armour reported adjusted quarterly profit of 25 cents per share, exceeding the average analyst estimate of 12 cents per share. Revenue topped Wall Street projections, as well, while fiscal-y...Read More
The Big Board tracker is now staring up at numerous layers of former supportMany headlines this past Wednesday, Oct. 24, covered the Nasdaq Composite's (IXIC) close in formal "correction" territory, down more than 10% from the all-time high it had reached as recently as Aug. 30. But considerably less attention was paid to the fact that the Nasdaq's less-flashy cousin, the NYSE Composite Index (NYA...Read More
Dow futures are pointing to a healthy rise at the openU.S. stocks will try again to gain at the open today, after yesterday's rally attempt turned into a massive sell-off. For now, the Dow Jones Industrial Average (DJI) is eyeing a healthy jump, and futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are pointing to positive starts, as well. Traders again will be focusing on corporate ea...Read More
BERLIN (Reuters) - Germany’s jobless total fell in October and employment hit a record high in September, data showed on Tuesday, underlining the strength of a labor market that is supporting a consumer-led upswing in Europe’s largest economy.The Federal Labour Office said the seasonally adjusted jobless total fell by 11,000 to 2.292 million, slightly below the predicted drop of 12,000...Read More
CloseGain/LossGold $1223.60-$5.50Silver$14.48+$0.03XAU65.44+1.14%HUI145.23+0.84%GDM532.62+0.49%JSE Gold1170.50+4.49USD96.99+0.38Euro113.45-0.40Yen88.65-0.41Oil$66.18-$0.8610-Year3.119%+0.031T-Bond138.84375-0.50Dow24874.64+1.77%Nasdaq7161.65+1.58%S&P2682.63+1.57% The Metals: Gold dropped $9.10 to $1220.00 in London before it chopped back higher in early New York trade, but...Read More
(Adds detail)ZAGREB, Oct 30 (Reuters) - Croatia plans to formally notifyBrussels next year about its intention of joining the two-yearwaiting room before eventually adopting the euro currency,central bank governor Boris Vujcic said on Tuesday."We're preparing a letter of intention on joining theEuropean Exchange Mechanism (ERM-2) (that) we plan to send (toBrussels) next year," Vujcic tol...Read More
CloseGain/LossGold $1223.60-$5.50Silver$14.48+$0.03XAU65.44+1.14%HUI145.23+0.84%GDM532.62+0.49%JSE Gold1170.50+4.49USD96.99+0.38Euro113.45-0.40Yen88.65-0.41Oil$66.18-$0.8610-Year3.119%+0.031T-Bond138.84375-0.50Dow24874.64+1.77%Nasdaq7161.65+1.58%S&P2682.63+1.57% The Metals: Gold dropped $9.10 to $1220.00 in London before it chopped back higher in early New York trade, but...Read More
By Ira EpsteinStall time in gold now that stock indices look to be finding their footing.https://www.iraepstein.com/ Read More
COLORADO SPRINGS, Colo., Oct. 30, 2018 (GLOBE NEWSWIRE) -- Gold Resource Corporation (NYSE American: GORO) (the "Company" or "GRC") reported production results for the third quarter ended September 30, 2018 of 6,411 ounces of gold and 321,590 ounces of silver, which along with base metal revenue generated $24.3 million in net revenue for the quarter. Gold Resource Corporation is a gold and sil...Read More
Graceland Updates By Stewart Thomson 1. The US stock market continues to gyrate wildly with many key Dow stocks staging truly horrific meltdowns.2. This market is beginning to look eerily like the bear market that started in 1929. Instead of buying stocks as the business cycle troughed as Barrack Obama was elected, many investors appear to have bought maniacally after Trump was el...Read More
By Ricky WenMonday's session was a deadly and massive bull trap due to the morning false breakout above the key 2693/2700 levels with the high at 2707 that lasted for a brief moment and looked like the start of a significant temporary bottom formation off Friday's 2627 low. Eventually, the market managed to tank about 100 points from the intraday high towards the 2620/2590 major support area tha...Read More
By Stefan GleasonThe Nasdaq composite enters this week's trading down over 10% in the month of October. For what it's worth, market technicians consider a 10% pullback an official "correction."So far it's just that - a correction. It may therefore be a bit premature to carve the stock market's tombstone.But investors should be prepared for further downside in share prices... and a possible longe...Read More
On Thursday, Mr. Draghi held a press conference. But the real thunderbolt hit on Monday, when Ms. Merkel announced that she would step down this year as a leader of her conservative party. Will that lighting make gold shine? Draghi Says That We Shouldn't Worry Let's start with the latest ECB's monetary policy statement and the following Draghi's press conference. In short, the ECB kept its mon...Read More
By Ron PaulPresident Trump recently called the Federal Reserve's interest rate hikes crazy. Leaving aside President Trump's specific complaint, which is likely motivated by the belief that low rates will help him win reelection, he is right that "crazy" is a good way to describe the Federal Reserve.When not forced to use a government-created currency, individuals have historically chosen to use...Read More
Yesterday's slow-motion selloff probably didn't generate much fear, but it probably exhausted sellers for a while. Although I've put out a somewhat lower target in the E-Mini S&Ps for Tuesday, the big moves in the FAANGs appear to be over, or very nearly so. Rick's Picks had been using a 1496 downside target in AMZN that caught the exact low of a so-far $68 bounce. (Click on the inset to see thi...Read More
India has done a bilateral forex swap agreement with Japan and China separately. China has done a forex swap agreement with Japan. Forex swap agreement between large nations like India, China and Japan will result in more and more nations copying them. Net result is a decline in the US dollar share in global trade and a decline in the purchasing power of the US dollar. Gold will be a medium of s...Read More