- Gold acts as hedge in 2018 - up 2.7% and 3.8% in euros and pounds (see tables & charts)- Stocks fall sharply - S&P500, FTSE & Euro Stoxx 5o fall 6.25%, 12.5% & 15% respectively- Worst year for most international equity indices since 2008- Sharp falls in economically sensitive commodities: oil (WTI), gasoline and lumber down 24.2%, 27% & 23.8% respectively- Volatility surges as seen in VIX ris...Read More
Traders and investors are focused on a global slowdown. Economic data releases worldwide need to beat street expectation to change the negative sentiment. US December private ADP numbers need to beat street expectation for the US dollar to rise and gold and silver to correct. However political uncertainty in the UK and Eurozone will prevent a major collapse in gold and silver. I will prefer to u...Read More
Early investors stand to reap the rewards as a new technology looks to change everything.One research firm - which recommended Google and Amazon before they became household names - has built a worldwide reputation of identifying profitable tech trends well before Wall Street and the talking heads on T.V.And just recently, they've uncovered a technology that's already being labeled "humanity's las...Read More
AAPL shares fell roughly 10% todayApple (AAPL) last night slashed its quarterly sales outlook, citing weak iPhone demand in China. The surprise announcement -- and AAPL's steepest one-day slide in nearly six years -- had a ripple effect on Wall Street, and fueled fears of a global economic slowdown; lackluster factory data out of the U.S. only exacerbated those concerns. Against this backdrop, the...Read More
The similarities are eerie, and Republicans could be facing a crisis.He's a successful businessman who never held public office before winning the Presidency...He's coming into power after an electoral college landslide...And he did it by beating an out-of-touch New Yorker opponent.Once in office, he launches a vast trade war, promising to stand up for America's heartland, with 890 increased tarif...Read More
Several Fed members will speakThe Fed's December meeting minutes will be released next Wednesday, with Wall Streetlooking for clues to the pace of future rate hikes. In addition, several Fed members will be speaking throughout the week, and traders will digest the latest inflation and international trade data. Earnings will begin to pick up, with Delta Air Lines (DAL) and weed names Constellation...Read More
BTAI is one of the best stocks on Nasdaq todayStocks are heading toward sharp losses today, as Apple's (AAPL) weak forecast puts a damper on the new year. Airliner Delta Air Lines, Inc. (NYSE:DAL) and auto stock General Motors Company (NYSE:GM) are lower, while drugmaker BioXcel Therapeutics Inc (NASDAQ:BTAI) is soaring. Below, we'll take a look at the news moving the shares of DAL, GM, and B...Read More
ISM's manufacturing index fell to 54.1 in December, its lowest level since November 2016."The manufacturing community continues to expand, but at much lower levels and at a sharp decline from November," says Timothy Fiore, chair of the Institute for Supply Management.Fred Imbert| @foimbertPublished 10 Hours AgoUpdated9 Hours AgoCNBC.com Luke Sharrett | Bloomberg | Getty ImagesA worker handles a...Read More
Mizuho slashed its SQ price target earlierThe shares of Square Inc (NYSE:SQ) are down 8% at $52.59, after Mizuho cut its price target on the stock to $75 from $95. But while the brokerage firm tapped blue-chip Visa (V) as its "top pick" among U.S. payment processors, it said Square was still attractive and the company's expansion into new markets will help drive revenue growth.This downside just e...Read More
Is it time to prepare for the next financial crisis?Something strange is going on in the financial system.And according to The Wall Street Journal, it's causing some investors- including the biggest banks in the world- to move massive amounts of money out of the banking system.What exactly is going on?Former hedge fund manager, Dr. Steve Sjuggerud, one of the most widely-followed financial analys...Read More
Japan's Ministry of Economy, Trade and Industry has approved Irving Resources' (CSX: IRV) Otoineppu prospecting plan, which includes drilling, at its Omu Sinter prospect, part of its 100% owned Omu gold-silver project near Hokkaido, Japan.Irving will now submit a mine safety regulation permit to the Japanese government. The company meanwhile is trying to get work permits for a Canadian drill crew...Read More
The shares are trading at new lows after the iPhone maker slashed guidanceApple's (AAPL) cut revenue guidance is being felt across several sectors, weighing on iPhone retailers like Best Buy (BBY) and a slew of chipmakers. Among them, STMicroelectronics NV (NYSE:STM) stock is trading at new lows, and options traders are swarming the Swiss semiconductor maker today.At last check, STM shares were do...Read More
PTLA stock rallied more than 14% on Monday on a regulatory winThe shares of Portola Pharmaceuticals Inc (NASDAQ:PTLA) surged more than 14% on Monday, after the Food and Drug Administration (FDA) approved commercial production for the clinical stage biotech's manufacturing process for Anexxa, a universal bleeding reversal drug. It could be time to take profits on PTLA stock, though, considering it...Read More
Options traders also appear bullish on the stockThe sell-off in Apple (AAPL) stock is the talk of Wall Street today, and the pain is especially real for a number of the tech giant's suppliers. But while many investors are distancing themselves from this part of the market, we noticed one Apple partner that multiple analysts have already come to support of: optical networking specialist Lumentum Ho...Read More
Private payrolls rose by 271,000 in December, smashing Reuters estimates of 178,000, according to an ADP/Moody's report.The gain was the highest since February 2017 and brought the monthly average for 2018 to 203,000.The report comes amid worries that the U.S. economy is slowing.Jeff Cox| @JeffCoxCNBCcomPublished 12 Hours AgoUpdated11 Hours AgoCNBC.com show chapters ADP December payrolls up 271...Read More
Etsy just ran into a historically bullish trendline The shares of Etsy Inc (NASDAQ:ETSY) notched a record high of $58.30 in early December, and while the broader stock market languished, ETSY shares finished 2018 with a gain of nearly 133%. Since that high, though, the e-commerce concern has pulled back to a key trendline -- a signal that, if history is any indicator, could mean another big rally...Read More
Mining companies operating in Zambia have failed to show how higher taxes introduced this year will affect their profitability despite objecting to the new framework, a senior government official said on Thursday.The country, Africa's second-largest copper producer, increased its sliding scale for royalties of 4 to 6 percent by 1.5 percentage points from Jan. 1 and introduced a new 10 percent tax...Read More
Detour Gold said on Thursday it has picked Paulson & Co-backed nominee Bill Williams to be its interim chief executive officer, replacing Michael Kenyon.The Canadian gold miner was previously involved in a months-long proxy fight with billionaire John Paulson's hedge fund, which pushed for a complete overhaul of the board and Kenyon's resignation.Williams is a mining industry veteran and was a for...Read More
The shares just pulled back to a trendline with bullish implicationsMicrosoft Corporation (NASDAQ:MSFT) was not exempt from the broad market sell-off last quarter, shedding 11.2%, its worst since March 2015. However, as the saying goes, "new year, new me," and that pullback could be a buying opportunity for the Dow name, if recent history is any indicator.Specifically, MSFT has retreated to its 3...Read More
The S&P and Nasdaq are much lower at midday, tooThe Dow Jones Industrial Average (DJI) fell 169 points out of the gate, and the losses have only accumulated. At last check, the blue-chip index was down almost 500 points, sinking back below the 23,000 mark, with a negative reaction to Apple's (AAPL) weak revenue forecast sparking the risk-off backdrop. A weaker-than-expected Institute for Supply Ma...Read More