Gold’stechnical-chart picture has improved, and the December futures potentiallycould challenge the 100-day moving average around $1,238.10 an ounce in thenot-too-distant future, says Charlie Nedoss, senior market strategist withLaSalle Futures Group. The most-active Comex contract hit a 10-week high of $1,230 anounce on Thursday, although it has pulled back some to $1,225.30, down $2.30for...Read More

The brutal selloff that engulfed global stocks this week took a pause on Friday as risk sentiment slightly improved across financial markets. Most Asian shares recovered during early trade despite Wall Street suffering heavy losses overnight. In Europe, stocks continue to march higher on positive global cues which could support Wall Street later in the afternoon. Although positive trade data from...Read More

Long call options offer limited risk and theoretically unlimited rewardIn the simplest terms, a call option gains value when the underlying stock rises. Buying a call is essentially a bullish bet that gives the trader the right, but not the obligation, to purchase the underlying shares for a specific price (the strike price) before an expiration day.Let's say Stock XYZ is trading at $39.50. A trad...Read More

Wells Fargo is rising with sector peers Citigroup and JPMorgan ChaseShares of Wells Fargo & Co (NYSE:WFC) are moving higher in early trading, after the banking firm this morning posted third-quarter results. Though earnings fell just shy of estimates, revenue was slightly better than expected, with CFO John Shrewsberry adding that the company saw "positive business trends" during the quarter. As...Read More

Wedbush thinks there's major potential for Fitbit in healthcareFitbit Inc (NYSE:FIT) is trading up 7.3% at $4.83, after Wedbush upgraded the stock to "outperform" from "neutral" and set a $6.50 price target, citing potential tailwinds from the company's push into the healthcare space. In particular, the analyst note highlighted Fitbit's collaboration with Google. FIT shares showed signs of life ea...Read More

Oct 11 (Reuters) - Coal miner Peabody Energy said on Thursday it intends to permanently seal the area where high methane levels have been concentrated after it reported fire in parts of its North Goonyella mine in Australia's Queensland last month.The company said three of the mine's five openings remain temporarily sealed to reduce air flow into the mine and issued force majeure notices to coal...Read More

Both names were up more than 5% in early tradingMizuho Securities initiated coverage on Abeona Therapeutics Inc (NASDAQ:ABEO) with a "buy" rating and $17 price target, representing expected upside of 69.3% to last night's close at $10.04. In reaction, ABEO stock is up 6.6% to trade at $10.70.Analysts are already upbeat toward the rare disease specialist, with all seven in coverage maintaining a "s...Read More

BEIJING, Oct 12 (Reuters) - China's unwrought copper imports surged to their highest in 2-1/2 years in September, while copper concentrate imports climbed an all-time high as the world's top copper consumer's crackdown on scrap leaves it needing other forms of the metal.China's imports of copper, which include anode, refined, alloy and semi-finished copper products, rose 24 percent from August to...Read More

Gold’s technical-chart picture has improved, and the December futures potentially could challenge the 100-day moving average around $1,238.10 an ounce in the not-too-distant future, says Charlie Nedoss, senior market strategist with LaSalle Futures Group. The most-active Comex contract hit a 10-week high of $1,230 an ounce on Thursday, although it has pulled back some to $1,225.30, down $2.3...Read More

GDYNIA/LONDON, Oct 12 (Reuters) - ArcelorMittal, the world's largest steel producer, has agreed the sale of plants in the Czech Republic, Romania, Macedonia and Italy to Liberty House to satisfy regulatory requirements for its acquisition of Italian steelmaker Ilva.The announcement by ArcelorMittal on Friday did not disclose the value of the disposals, though investment bank Jefferies said they ar...Read More

WASHINGTON (Reuters) - U.S. import prices jumped faster than expected in September amid resurgent energy prices but prices excluding fuels were unchanged.The Labor Department said on Friday import prices rose 0.5 percent last month. That was the largest increase since May and followed a revised 0.4 percent decrease in August.Import prices were previously reported to have fallen 0.6 percent in Augu...Read More

The Dow is set for a massive comebackDow Jones Industrial Average (DJIA) futures are signaling a huge comeback for U.S. stocks. The S&P 500 Index (SPX) and Nasdaq-100 (NDX) are both set for substantial jumps at the open, too, taking their cue from a broader recovery in global stock markets. Traders are digesting earnings releases from a number of big banks, including Dow component JPMorgan Chase (...Read More

The brokerage firm targeted 30% upside for SQ stockIt's been a rough week for Square Inc (NYSE:SQ) amid the surprise resignation of the company's Chief Financial Officer (CFO) Sarah Friar and a dramatic broad-market sell-off. However, Canaccord Genuity thinks this recent pullback creates a buying opportunity, and upgraded the payments processing name to "buy" from "hold," while boosting its price...Read More

MEXICO CITY (Reuters) - Stroll the aisles of any Oxxo in Mexico and you will find the staples of convenience store sustenance: beer, cigarettes, enough candy to keep dentists at full employment.Look closer and you will see this old-school chain is a linchpin of the country’s e-commerce. The retailer, with more than 17,000 locations throughout Mexico, has cracked two of the biggest barriers t...Read More

Chile's state miner Codelco, the world's No.1 copper producer, has revealed its smelter at Chuquicamata, its second largest operation by size, will be running at reduced rates until at least the end of the year, as it hurries to complete a planned overhaul ahead of stricter emissions standards coming in effect.Chile's Codelco is in the midst of upgrading its smelter at Chuquicamata, its second la...Read More

(Reuters) - JPMorgan Chase & Co (JPM.N) reported a better-than-expected quarterly profit on Friday as gains from higher interest rates and growth in loans helped the bank offset weakness in bond trading revenue.The largest U.S. bank by assets, whose results are often seen as a barometer of the economy, has benefited from a tax windfall and a strong economy that has led to higher interest rates...Read More

Chile's state miner Codelco, the world's No.1 copper producer, has revealed its smelter at Chuquicamata, its second largest operation by size, will be running at reduced rates until at least the end of the year, as it hurries to complete a planned overhaul ahead of stricter emissions standards coming in effect.Chile's Codelco is in the midst of upgrading its smelter at Chuquicamata, its second la...Read More

WASHINGTON (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Friday that President Donald Trump does not feel he needs to attack the Federal Reserve and respects its independence.“The president likes low interest rates. The president is concerned about the Fed raising interest rates too much and slowing down the economy and those are obviously natural concerns,” Mnuchin said in...Read More

"IF THE #SP500 $SPX DROPS TO 1,500 (AS FORECASTED) IT IS SIMPLY RETURNING TO THE LONG TERM TREND-LINE FROM BOTTOM OF 1929 CRASH.Via @hks55"Read full newsRead More

The imminent short squeeze gold bulls had been waiting for since late July, was triggered yesterday after U.S. equities were down over three percent the previous session. Just after the London Metals Exchange (LME) opened yesterday morning, gold spec shorts slowly began to cover as Dow Futures were showing more weakness before the opening bell. Once the U.S. CPI inflation data came in lower than e...Read More