(Reuters) - U.S. stock index futures were higher on Friday on hopes the United States and China would begin efforts to resolve their trade dispute, but gains were capped by a strong monthly jobs data that raised concerns of faster interest rate hikes.The Labor Department report showed U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in nine-and-half years,...Read More
(Reuters) - China’s Alibaba Group Holding Ltd (BABA.N) lowered its full-year sales forecast on Friday due to concerns about the economic impact of a U.S.-China trade spat, which the company expects will dent revenue ahead of its top sale season.Asia’s most valuable public company said it will cut its full-year revenue forecast to between 375 billion and 383 billion yuan ($54.4 bln-$55....Read More
Analysts are taking a hatchet to their price targetsWhile Apple (AAPL)earnings are dominating headlines today, a handful of biotech stocks are also swimming in red ink. In fact, Puma Biotechnology Inc (NASDAQ:PBYI) has surrenderedhalf its value today, and PBYI is so far the worst stock on the Nasdaq by a landslide.PBYI is down 50% to trade at $19.30, set for its worst day ever by far. The shares e...Read More
"Our reporter @alex_hamer visited @Eldorado_Gold's Kisladag mine in the weeks before the board ticked off the US$520M mill project. STORY ($): https://t.co/KCPJzgR6cf #gold $ELD"Read full newsRead More
Learn how to protect savings and maximize returns by investing in precious metals.The U.S. Gold Bureau would like to announce the newest edition of its guide to precious metals, perfect for anyone hoping to safeguard their investments and retirement!And today, they are giving away a free copy of their Investor's Guide to Precious Metals!Their goal is to help regular investors learn the "pro" secr...Read More
WASHINGTON (Reuters) - A senior Trump administration official on Friday dismissed as untrue a media report that U.S. President Donald Trump was readying a possible trade deal with China, a CNBC reporter said in a post on Twitter.“There is a long way to go,” on negotiations, the unnamed official told CNBC’s Eamon Javers, according to his tweet.Earlier on Friday, Bloomberg, citing...Read More
LUSAKA, Nov 2 - Power supply to some mines in Africa's second-biggest copper producer was cut due to a technical fault, Zambian state power firm Zesco said on Friday."We had a system disturbance which led to loss of power on the Copperbelt, including the mines," the utility's spokesman Henry Kapata said."We are investigating the cause of the disturbance. Power restoration has started but it will b...Read More
LUSAKA, Nov 2 - Power supply to some mines in Africa's second-biggest copper producer was cut due to a technical fault, Zambian state power firm Zesco said on Friday."We had a system disturbance which led to loss of power on the Copperbelt, including the mines," the utility's spokesman Henry Kapata said."We are investigating the cause of the disturbance. Power restoration has started but it will b...Read More
GM has broken past a key trendlineFresh off an earnings victory earlier this week, the shares of General Motors Company (NYSE:GM) are up 1.1% to trade at $36.87 this morning, despite reports of the auto giant halting two renovation projects in Detroit, citing "structural costs are not aligned with the market realities." General Motors stock gapped higher on Wednesday in the wake of its blowout...Read More
Is a harmonious conclusion to the six-month-long US-China trade battle finally within reach? Or this just a ploy to push US stocks higher ahead of an election that will decide which party controls Congress for the balance of Trump's term?Read full newsRead More
RIO DE JANEIRO, Nov 2 (Reuters) - Chinese demand for top-quality iron ore from Brazilian miner Vale should stay strong despite trade tensions with the United States, helping the world's top iron ore producer keep its prices for its highest quality ore above $90 per tonne in 2019, an executive said.Chief Financial Officer Luciano Siani said the Chinese demand would also support prices for average q...Read More
Last week, two of Canada's largest gold miners reported losses for the third quarter, continuing a disappointing run that has seen the industry struggle to attract investors. Barrick Gold (ABX) reported a $412m net loss due to a $405m impairment on its Lagunas Norte project in Peru, while Goldcorp (GG) swung to a $101m loss from a net profit of $111m a year earlier. These disappointing result...Read More
Last week, two of Canada's largest gold miners reportedlosses for the third quarter, continuing a disappointing run that has seen theindustry struggle to attract investors. Barrick Gold (ABX) reporteda $412m net loss due to a $405m impairment on itsLagunas Norte project in Peru, while Goldcorp (GG) swungto a $101m loss from a net profit of $111m a yearearlier. These disappointing results were...Read More
LONDON (Reuters) - Sony Music UK said two of its catering team members had been involved in a violent altercation at its offices in central London on Friday after police said two people had been stabbed.“Sony Music confirmed there was an incident at Derry Street resulting in the building being evacuated,” a spokeswoman said in a statement.“Two members of the catering team were in...Read More
Markets US China trade deal US jobs report Gold and oil Encouraging rebound for stock markets The prospect of a trade deal between the US and China is providing a major boost to the markets on the final trading day of the week. The week got off to a shaky start following a dreadful October which very much lived up to its reputation. What’s come since is exactly what the doctor orde...Read More
Gold miners earned the ire of investors including billionaire hedge-fund manager John Paulson for entering into bad deals that destroyed shareholder value in the past. Shareholders of the two companies announcing a merger Monday signaled they think this time may be different.Barrick Gold Corp. Executive Chairman John Thornton said his company isn't paying a premium under its agreement to buy Randg...Read More
WASHINGTON (Reuters) - The U.S. trade deficit rose to a seven-month high in September as imports surged to a record high amid strong domestic demand, offsetting a rebound in exports.The Commerce Department said on Friday the trade gap increased 1.3 percent to $54.0 billion, widening for a fourth straight month. Data for August was revised to show the trade deficit rising to $53.3 billion instead o...Read More
(Reuters) - Tesla Inc (TSLA.O) said on Friday that it is developing plans to start producing about 3,000 Model 3 vehicles per week in Shanghai in the initial phase of its Gigafactory 3 to reduce the impact of tariffs.The company also said here in a filing that Model S and Model X sales in China have been, and will likely continue to be, hurt by recently increased tariffs imposed by the Chinese g...Read More
The shares have been bouncing from a key technical level in recent weeksCiti Research upgraded Wells Fargo & Co (NYSE:WFC) to "buy" from "neutral," saying the bank's potential to return to revenue growth next year could prove "issues are moving to [the] rear view mirror." The brokerage firm maintained its $60 price target on WFC, a 12% premium to last night's close at $53.56.In reaction, WFC is up...Read More
Earnings beats don't seem to be enough for SHAK and LOCO tradersThe shares of restaurant stocks Shake Shack Inc (NYSE:SHAK) and El Pollo LoCo Holdings, Inc. (NASDAQ:LOCO) are trading sharply lower in premarket action. Both companies presented quarterly results last evening, and clearly Wall Street is disappointed in what it saw. We'll take a closer look at SHAK and LOCO below. Same-Store Sales Sin...Read More