(Kitco News) - Although market fears of an Italian contagion effect are now largely subdued, one strategist said that the country is not out of the woods, yet. With Premier Giuseppe Conte heading a newly sworn-in Cabinet to head a coalition government, financial markets found relief in political stability, but not everyone is confident in the populist leaders’ policies. Francesco Papadia...Read More
(Reuters) - Strong gains in tech heavyweights lifted the Nasdaq to a record intra-day high on Tuesday, while declines in financial and healthcare stocks weighed on the S&P 500 and Dow.The so-called FAANG stocks - Facebook, Amazon, Apple, Netflix and Alphabet - rose between 0.3 percent and 1.9 percent, helping the S&P technology index rise 0.3 percent.The gains come after Nasdaq closed at a...Read More
FIVE has had a great year, touching a record high todayDiscount retailer Five Below Inc (NASDAQ:FIVE) is slated to report first-quarter earnings after the close tomorrow, June 6. Five Below stock is up 2.1% at $78.88, at last check, and fresh off a record high of $79.23. The retail name has been on a tear on the charts since its July lows, up 78% with help from its rising 120-day moving average. A...Read More
Call buying has been extremely popularEnergy stocks have made headlines in recent weeks amid fluctuating oil prices. Lesser-known oil-and-gas concern Encana Corp (NYSE:ECA) has had an equally volatile year, but recently pulled back to a trendline that could have bullish implications.More specifically, Encana stock recently fell to its 60-day moving average. In fact, over the past two years, whe...Read More
Office Depot Inc (NYSE:ODP) keeps on fighting. Two years ago, the Federal Trade Commission appeared to deal the company a knockout blow. The country’s largest office supply chains, Staples and Office Depot, had intended to merge. For whatever bizarre reason, the FTC blocked the deal as being uncompetitive. ODP stock plunged following the decision.Staples had a much stronger competi...Read More
WASHINGTON (Reuters) - If Donald Trump’s summit next week with North Korean leader Kim Jong Un produces a peace declaration formally ending the Korean War as he has suggested, it could give the U.S. president a big headline-grabbing, made-for-TV moment on the world stage.But the public relations value of such a historic event could quickly fade if Trump fails, in return, to wring any signifi...Read More
LONDON (Reuters) - European Union attempts to supervise American financial firms as a condition of access to the bloc’s markets would be firmly rejected, a top U.S. securities exchange official said on Tuesday.Mark Hemsley, president of the European arm of U.S. exchange CBOE, said EU regulators were trying to map out future working relations with their UK counterparts after Britain leaves th...Read More
Small-cap stocks are also gaining todayThe Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are searching for direction at the halfway point, though the Nasdaq Composite (IXIC) continues to outperform. In fact, the index earlier reached a fresh record high, as tech stocks keep pushing higher. Heavyweights such as Apple (AAPL), Netflix (NFLX), and Amazon (AMZN) are just a few names that h...Read More
BRUSSELS, June 5 (Reuters) - The European Union does not expect any breakthrough on steel and aluminium tariffs imposed by the United States on the EU and Canada at talks of G7 leaders in Canada later this week, a senior EU official said on Tuesday.“We do not expect any breakthrough in the dispute with United States in Charlevoix,” the official said.The G7 are the United States, Canada...Read More
WASHINGTON (Reuters) - The Republican chairman of the U.S. Senate Commerce Committee and the top Democrat on the panel on Tuesday demanded that Facebook Inc Chief Executive Officer Mark Zuckerberg answer questions about whether user privacy was compromised by information disclosed to at least 60 device manufacturers.Senators John Thune, a Republican, and Bill Nelson, a Democrat, wrote to Zuckerber...Read More
Mcx Lead Calls – Buy Lead at CMP 168.30 for Target 169.20 – 169.90 with S L below price 167.20Lead daily chart has formed "Megaphone" pattern. The last session ended up bullish in trend after a few consolidations inside the channel. The market is expected to continue on a bullish momentum, testing all the way through 170-172 levels in the upcoming sessions. Alternatively, if the marke...Read More
AMD stock just sent up a signal that's had bullish implications in the pastAdvanced Micro Devices, Inc. (NASDAQ:AMD) has been one of the most volatile stocks on the S&P 500 Index (SPX) in the summer months in the past 10 years, per data from Schaeffer's Senior Quantitative Analyst Rocky White. And while AMD's average return over the June-through-August period has been negative 6.37%, most of these...Read More
LONDON (Reuters) - The London Metal Exchange (LME) is working to see if it can expand access to Rusal's aluminum, which is under suspension due to U.S. sanctions, but the exchange needs to be cautious, Chief Executive Matthew Chamberlain said on Tuesday."We are working very closely with all the parties involved to see if we can expand that eligibility, but I think the market does agree that we sho...Read More
MEXICO CITY (Reuters) - Mexico imposed wide-ranging tariffs on American products ranging from steel to pork and bourbon on Tuesday, responding to President Donald Trump's metals tariffs and taking aim at Republican strongholds ahead of U.S. congressional elections in November.Mexico's retaliation further raises trade tensions between the two countries, which have been echoed in dealings between Wa...Read More
The Trump administration has quietly asked Saudi Arabia to increase oil production by about 1 million barrels a day, enough to offset expected oil export declines as a result of Trump's renewed embargo on Tehran.Read full newsRead More
Argonaut Gold Inc. (TSX: AR) says it is maintaining 2018 production guidance,assuming the company’s explosives permit for the La Colorada mine is reinstatedby Aug. 1. A judiciary court hearing that was supposed to have occurred onMonday was postponed, and a new date has not been set. Argonaut has filed anappeal with the Collegiate Tribunal seeking reinstatement of the explosivesper...Read More
(Bloomberg) - Murray Energy Corp., the coal miner led by Robert E. Murray, said some of its debt holders agreed to refinance a chunk of the company's bonds and loans as the Trump administration makes a new push to buoy the struggling fossil fuel industry.The deal cuts debt and gives Murray Energy more time to repay obligations, in return for a higher interest rate and more collateral, the company...Read More
(Kitco News)- Despite recent resiliency in equities, the market ismoving closer to a turning point and one quantitative investment strategistsays now is the time for investors to get a little defensive and addbroad-based commodities to their portfolios, including gold.In an interview with Kitco News, Scotty George, chiefinvestment strategist at Alexander Capital, said that his firm is currentlyove...Read More
(Kitco News) - Despite recent resiliency in equities, the market is moving closer to a turning point and one quantitative investment strategist says now is the time for investors to get a little defensive and add broad-based commodities to their portfolios, including gold.In an interview with Kitco News, Scotty George, chief investment strategist at Alexander Capital, said that his firm is current...Read More
LONDON (Reuters) - World tech stocks hit a record high on Tuesday spurred on by an all-time peak for Apple, a 17-year top for European tech firms and news that Twitter and Netflix were set to join Wall Street’s flagship S&P 500 index.MSCI’s global tech index .dMIWO0IT00PUS scored the milestone as the FAANGs - Facebook, Apple, Amazon, Netflix and Google - looked set to drive the tec...Read More