Almost 80 percent of battery-powered vehicles in the U.S. are leased, not owned.Read full newsRead More
Kaohsiung oil trader chartered tanker.A Kaohsiung oil trader was freed on bail Wednesday for forgery in the chartering of a tanker smuggling oil to North Korea.Read full newsRead More
China's PBOC called for rectifying irregularities in electricity use of some bitcoin mining fields, and during a closed-door meeting, discussed limiting the power use of bitcoin mining.Read full newsRead More
Like the value of individual cryptocurrencies, the total market cap of the crypto market has spiked higher in recent months.Read full newsRead More
• Goodish USD rebound prompts some early profit-taking. • Fading safe-haven demand adds to the downward pressure. • Sliding US bond yields lend immediate support ahead of FOMC minutes. Gold retreated after hitting a 3-1/2 month high and dropped to an intraday low near $1312, albeit has managed to recover majority of its lost gro...Read More
Gold moved visibly higher during the first session of the year and this time mining stocks accompanied it. In fact, it seems that they are back on the track after a short pause. What's the likely reason behind this year's rally and what does it imply going forward?Let's jump right into the mining stock charts (chart courtesy of http://stockcharts.com).Gold stocks indeed broke above the rising supp...Read More
The U.S. stock market is pushing further into record-high territory today, despite some alarming tweets overnight from President Donald Trump. The Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) have each touched all-time peaks, with the healthcare and tech sectors leading the charge once again. Plus, the Institute for Supply Management's (ISM) manufacturing i...Read More
Natixis: Restrained production and the need to maintain stability ahead of Saudi Aramco's IPO will support prices.Read full newsRead More
Most OMC stocks, including IOC and HPCL, have under-performed BSE Oil & Gas index, in the three months ending DecemberRead full newsRead More
There's no stopping the palladium rally.Read full newsRead More
"Gentlemen: There is no more gasoline in Venezuela. In Venezuela, we are out of gas. In Venezuela, there is no gas oil. In Venezuela, there are no lube oils...Read full newsRead More
(Changes "last year" to "2016" in third paragraph)CAIRO, Jan 3 (Reuters) - Average yields on Egypt's six-month and one-year treasury bills rose at an auction on Wednesday, data from the central bank showed.The yield on the 182-day bill rose to 19.140 percent from 18.990 percent at the last similar auction, and the yield on the 364-day bill rose to 18.186 percent from 17.689 pe...Read More
Chip stocks are hot today, with rivals of sector behemoth Intel (NASDAQ:INTC) catching a big boost from reports of a design flaw in Intel microprocessors produced over the last decade that compromises security. While INTC is down more than 3.7% -- and the biggest decliner on the Dow today -- primary rival Advanced Micro Devices, Inc. (NASDAQ:AMD) is soaring.AMD stock is up 7.2% at $11.77, and on t...Read More
NEW YORK (Reuters) - The U.S. economy is on track to grow at a 3.2 percent annualized rate in the fourth quarter after data showed construction spending reached a record high in November and stronger-than-forecast December figures on factory activity, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday.The latest estimate for fourth-quarter gross domestic product growth w...Read More
(Bloomberg) - Call it a new golden age.The SPDR Gold Shares ETF (ticker GLD) kicked off 2018 with an advance of 1.2 percent on Jan. 2, extending its streak of gains to 11, a record. It retreated slightly at the start of regular trading on Jan. 3, but is still up for the year.This "stealth rally in gold" has been enabled by the battered U.S. dollar, says Bespoke Investment Group. The Bloomberg Dol...Read More
Weekly Gold Focus - Gold futures will continue to keep an eye on the weakening Dollar Index that isstarting off 2018 at a 3-month low despite three more interest rate hikesexpected throughout the year. Rising Geopolitical risks with North Korea andIran has helped set the stage for the safe-haven trade to back in the cards.The top two events to keep an eye out for with a fairly busy economic schedu...Read More
FRANKFURT, Jan 3 (Reuters) - Germans are investing heavily in gold, Deutsche Boerse said on Wednesday, with holdings of a gold-backed security it offers rising almost 50 percent in 2017.Gold is seen as a safe haven for investors during times of uncertainty. Spot gold prices gained about 14 percent during 2017.Deutsche Boerse said its Xetra-Gold notes, which are backed by physical gold, rose in dem...Read More
Power management provider Eaton Corporation (NYSE:ETN) recently announced that it expects to incur a one-time expense between $90 and $110 million as a result of the new tax bill. The guidance was well-received, with ETN stock gapping higher on Friday. From a longer-term perspective, the shares surged an impressive 17.7% in 2017, and their recent low near $75 represents five times the 2009 low. Wh...Read More
WINNIPEG, Manitoba (Reuters) - Ottawa has launched legal challenges of U.S. duties on imports of certain Canadian softwood lumber products, Canadian Foreign Affairs Minister Chrystia Freeland said on Wednesday.The duties are “unfair, unwarranted and troubling,” harm Canadian lumber producers and raise U.S. home-building costs, Freeland said in a statement.Reporting by Rod Nickel in Win...Read More
Shares of MoneyGram International, Inc. (NASDAQ:MGI) gapped lower out of the gate this morning, down 9.3% at $12.07, after a U.S. government panel blocked the company's sale to China's Ant Financial. The $1.2 billion deal was scuttled by the Committee on Foreign Investment in the United States (CFIUS), reportedly over national security concerns -- though the committee declined to comment on the ru...Read More