WOLFSBURG - Volkswagen's strategy chief said on Tuesday the German carmaker's core brand will develop its final generation of vehicles using combustion engine technology in 2026.Volkswagen made a strategy shift toward battery-driven vehicles in the wake of a damaging diesel-emissions cheating scandal in 2015, which forced the carmaker to pay more than 27 billion euros in fines for hiding excessive...Read More
President Trump and President Xi Jinping agreed to halt escalation in their trade conflict. At the same time, the Fed officials became more cautious about the pace of future interest rate hikes. How will the softening of the US trade and monetary policies affect the gold market? Trade Truce and Gold Have you heard about the Christmas truce? It was a series of unofficial ceasefires across the Weste...Read More
Wall Street is also monitoring a flattening yield curveThe stock market is pulling back today, with the Dow Jones Industrial Average (DJI) down more than 200 points at midday. The fuzzy feeling surrounding trade talks between the U.S. and Chinahave been replaced by skepticism that actual progress has been made. Also pressuring the blue-chip benchmark is FAANG stock Apple (AAPL), which is lower aft...Read More
AMD competition and China trade woes have created a top for the Dow nameNorthland Capital downgraded Intel Corporation (NASDAQ:INTC) to "market perform" from "underperform," and cut its price target on to $42 from $46 -- a more than 16% discount to last night's close at $50.13. The brokerage firm cited weak demand from Apple (AAPL), and said with competition from Advanced Micro Devices (AMD) and U...Read More
To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year's December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse the free fall of oil prices. At the time, it worked because everyone was desperate. Now, many O...Read More
AZO is pacing for its best day since March 2009Shares of AutoZone, Inc. (NYSE:AZO) stock are up 7.2% to trade at $884.04, and just touched a record high of $894.37, as traders applaud the firm's earnings. The company reported stronger-than-expected fiscal first-quarter earnings, and same-store sales also beat estimates. As such, AZO is pacing for its best day since March 2009.Since its April 20 lo...Read More
BELGRADE - Serbia's mining industry could expand to 5 percent of national output by 2023 if foreign investors keep commitments to plough millions of dollars into copper and lithium production, its mining minister said.The sector currently accounts for 1 percent of Serbia's gross domestic product. But since 2000, when a decade of isolation of the former Yugoslavia ended, more than 40 foreign compan...Read More
BELGRADE - Serbia's mining industry could expand to 5 percent of national output by 2023 if foreign investors keep commitments to plough millions of dollars into copper and lithium production, its mining minister said.The sector currently accounts for 1 percent of Serbia's gross domestic product. But since 2000, when a decade of isolation of the former Yugoslavia ended, more than 40 foreign compan...Read More
Ivan Glasenberg said there will be a generational shift at the top of Glencore Plc over the next few years, suggesting a period of upheaval for the world's largest commodity trader that's unprecedented in its short history as a public company.Glasenberg said he's actively looking for the next chief executive and plans to retire in the next three to five years. He also announced the retirement of t...Read More
The shares have already doubled in the past yearBioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) stock has been on fire lately, more than doubling in the past year. What's more, analysts at RBC see lots more upside in store for BCRX shares, hiking their price target to $16 from $10 -- representing a premium of about 73% to the security's close of $9.27 on Monday, and in territory not charted since mid...Read More
The shares recently broke below long-term supportBack in October amid the broad-market sell-off, beer maker Constellation Brands, Inc. (NYSE:STZ) broke below a trendline that had supported its rise since 2012. The stock was swiftly rejected after rallying back to this trendline earlier this month, and the $200 area -- site of the August lows -- has also emerged as resistance. Now down more than 14...Read More
HSBC said Apple is "facing the reality of market saturation"Apple Inc. (NASDAQ:AAPL) is one of the worst performers on the Dow in early trading, after HSBC downgraded the FAANG stock to "hold" from "buy," and cut its AAPL price target to $200 from $205. The brokerage firm said the tech titan's "iconic hardware unit growth is broadly over for now," and that it's "facing the reality of market satura...Read More
Fred Imbert| @foimbertPublished 15 Hours AgoUpdated1 Hour AgoCNBC.com show chapters Trading Nation: S&P 500 Nears Death Cross 5 Hours Ago |04:16 Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to jitter...Read More
Impala Platinum Holdings Ltd. said it's open to acquiring low-cost assets as the struggling miner looks beyond a plan to close unprofitable shafts in South Africa.The No. 2 platinum producer, known as Implats, is playing catch-up with larger rival Anglo American Platinum Ltd., which is boosting output and profit after shifting to lower-cost operations. Chief Executive Officer Nicolaas Muller said...Read More
Oil prices are set for another positive session as expectations rise for a production cutDow Jones Industrial Average (DJIA) futures are signaling a lower start, as Wall Street reacts to a lack of details surrounding a U.S.-China trade truce. Optimism surrounding the deal sent stock markets surging to start the month, but Bloomberg reports no paper trail exists and Beijing has yet to confirm any c...Read More
The brokerage firm maintained its rating and lofty price target, thoughThe shares of Activision Blizzard, Inc. (NASDAQ:ATVI) are down 0.2% in electronic trading, after Wedbush removed the video game maker from its "Best Idea" list. The brokerage firm did however maintain its outperform rating and $81 price target on ATVI. This reevaluation follows ATVI's struggles in recent months. Since its...Read More
The global hunt for high-quality, low-risk copper assets that are ready for construction is about to get tougher after Teck Resources Ltd. sells a stake in one of the few deals available.Sumitomo Corp. and Sumitomo Metal Mining Co. agreed to pay $1.2 billion for 30 percent of the Compa??ia Minera Teck Quebrada Blanca SA project in northern Chile. The mine, which will require an estimated investmen...Read More
A new 52-week low in USO's share price coincided with a fresh high in call open interestThe fourth-quarter sell-off in oil prices has been fairly massive in magnitude, with the West Texas crude-tracking United States Oil Fund (USO) down about 34% from its Oct. 3 intraday peak of $16.24. The commodity fund's collapse occurred with such blinding speed that its 50-day and 200-day moving averages are...Read More
* China copper premiums at 18-month low * GRAPHIC-2018 asset returns: (Updates with closing prices)By Zandi ShabalalaLONDON, Dec 4 (Reuters) - Copper eased on Tuesday as marketsawaited remedial action by the United States and China after thetwo countries' weekendagreement on a 90-day ceasefire in theirdamaging trade dispute. Other metals, however, clung on to the previous session'sgains, powered b...Read More
Following a very detailed process, Miramont Resources (CSE: MONT) finally received a drilling permit for its Cerro Hermoso project in southern Peru. The permit was granted after a series of assessments conducted by the Peruvian Ministry of Energy and Mines -known as MEM- to determine if Indigenous groups could be affected by the Canadian miner's activities. "We are very happy to begin our drill pr...Read More