Gold futures finished lower on Thursday as the European Central Bank slashed its forecast for eurozone growth and extended a pledge to hold off on interest-rate hikes until at least late this year, pressuring the euro and providing a boost to the U.S. dollar. The euro EURUSD, +0.3752% fell to four-month lows after the ECB said its ultralow interest rates wouldn't rise at least until late 2019. We...Read More
Ivan Glasenberg, head of Glencore, will no longer be a member of the board of Russian oil major Rosneft, Rosneft board meeting minutes showed on Thursday.Glencore sold a 14.16 percent stake in Rosneft in May 2018, the company said, and now holds a stake of 0.57 percent.Rosneft listed 11 candidates for membership of the board on Thursday, all of whom were put forward by shareholders with over 2 per...Read More
The blue chip recently pulled back to a historically bullish trendlineAerospace giant Boeing Co (NYSE:BA) has been making big moves on the charts of late, with a bull gap in late January paving the way to the shares' March 1 record high of $446.01. While the stock has since pulled back to a key trendline, data from Schaeffer's Senior Quantitative Analyst Rocky White indicates the next leg of BA's...Read More
"Crop's Elite Partners With MYM Nutraceuticals on 120 Acres of Nevada Hemp -- $CROP @CROP_CSE #Cannabis #California #CRXPF #CropCorp #MarijuanaStocks #Potstocks #hemp #CBD #smallcap #momentumstocks#CSE #BNN -- Read the News Release here: https://t.co/mWPvT6Zr3h"Read full newsRead More
As the old saying goes, politics is a show business for ugly people. Fair enough, but what does it have to do with gold? Let’s jump right in and find out! There Is No Trade War Economic reports are rarely fun. But when we read the latest US trade report, we could not help but laugh. It turns out that the US goods and services deficit was $59.8 billion in December, up $9.5 billion, or almost...Read More
A push by the world's biggest gold miners to get even bigger will likely have a knock-on effect among their competitors, adding new vigor to an industry that failed to inspire investor support in 2018.The megamerger mania now underway for Newmont Mining Corp., Barrick Gold Corp. and Goldcorp Inc. is likely to result in some of their assets being sold, helping to diversify portfolios for other mine...Read More
A push by the world's biggest gold miners to get even bigger will likely have a knock-on effect among their competitors, adding new vigor to an industry that failed to inspire investor support in 2018.The megamerger mania now underway for Newmont Mining Corp., Barrick Gold Corp. and Goldcorp Inc. is likely to result in some of their assets being sold, helping to diversify portfolios for other mine...Read More
There will also be earnings to take in from the retail sectorThe main focus of next week's economic calendar will probably be Tuesday's release of the consumer price index (CPI), with the inflation gauge likely sparking speculation about the Fed's next move. On the earnings side of things, Adobe's (ADBE) and Broadcom's (AVGO) releases late in the week could generate the most headlines. Below is a...Read More
Alrosa, (MCX:ALRS) the world's top diamond producer by output, reported Thursday that total sales of rough and polished diamonds increased to $345.6 million, up 23% compared to January 2019 (up $64.1 million).Rough diamonds sales in February increased to $340.6 million, compared to $278.2 million in January 2019, while polished diamond sales grew to $5 million, compared to $3.4 million a...Read More
The analyst initiated coverage with an "overweight" rating and a $21 price target The shares of Unity Biotechnology, Inc. (NASDAQ:UBX) suffered an 11.2% drop yesterday -- and touched a record low of $9.05 -- after poorly received fourth-quarter earnings. Despite all this, Cantor Fitzgerald last night initiated coverage of UBX with an "overweight" rating and a price target of $21 -- more than dou...Read More
The analyst in coverage also slashed their price target on the stockPivotal Research cut its rating on United Natural Foods Inc (NYSE:UNFI) to "sell" from "hold," and slashed its price target to $8 from $14. This follows the Whole Foods supplier's fiscal second-quarter EBITDA loss -- reported Monday -- which CEO Steven Spinner said was due to "higher than anticipated costs" associated with its Sup...Read More
Cantor Fitzgerald initiated coverage with an "outperform" ratingThe shares of Chiasma Inc (NASDAQ:CHMA) are modestly higher today, after the pharma stock scored a very bullish brokerage note. Specifically, Cantor Fitzgerald launched coverage of CHMA with an "outperform" rating and $18 price target -- more than three times the equity's current price, and in territory not charted in three years. The...Read More
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McEwen Mining (MUX) was trading 3% lower on Thursday after the Toronto-based company announced suspension of a shareholder payout just a day before the record date.Chairman Rob McEwen, who owns 23% of the company worth $586 million in New York, said it decided on the freeze because of operating issues at the Black Fox mine in Ontario and with the startup of its Nevada project Gold Bar:"While viewe...Read More
McEwen Mining (MUX) was trading 3% lower on Thursday after the Toronto-based company announced suspension of a shareholder payout just a day before the record date.Chairman Rob McEwen, who owns 23% of the company worth $586 million in New York, said it decided on the freeze because of operating issues at the Black Fox mine in Ontario and with the startup of its Nevada project Gold Bar:"While viewe...Read More
STM and LRCX just pulled back to trendlines with historically bullish implicationsSeveral chip stocks are lower today, after Japan-based Renesas Electronics issued partial production cuts to counter slowing Chinese demand. Two such names in the red today are STMicroelectronics NV (NYSE:STM) and Lam Research Corporation (NASDAQ:LRCX). However, if history is any guide, both semiconductor stocks co...Read More
The ECB cut its economic growth forecastU.S. markets are being weighed down by a downwardly revised economic growth forecast from the European Central Bank (ECB), which also unveiled a new stimulus plan and said it doesn't expect to hike interest rates until 2020.ECB President Mario Draghi warned of a "period of continued weakness and pervasive uncertainty." As such, the Dow Jones Industrial Avera...Read More
The electric vehicle (EV) revolution has galvanised battery metals such as lithium, cobalt and nickel - and now the tiny tin market is becoming aware that it, too, might be a beneficiary.The International Tin Association (ITA) has just released a report on the use of tin in lithium-ion batteries. The headline takeaway is that this additional use beyond soldering and packaging could generate a dema...Read More
Debt in 2019: Fed balance sheet & U.S. national debt to rise further.Institutional capital buying gold in a currency crisis will be like 'Hoover Dam going through a garden hose'.Fundamentals for silver are better than gold at this moment.SBTV welcomes Daniel Ameduri, Co-Founder of Future Money Trends and Crush The Street, back as we discussed future Fed rate hikes, the state of U.S. de...Read More
Diamond rich Botswana expects mineral revenues in the 2019/20 fiscal year to drop by 4 percent to 13.6 billion pula ($1.26 billion) due to a decline in royalties and dividends, a minerals ministry budget document showed on Thursday.Mineral Resources Minister Eric Molale said in the document that global diamond demand was showing signs of slowing down. Retail jewellery sales fell during the last qu...Read More