Two key Democratic Republic of Congo opposition leaders withdrew their support for a joint candidate in next month's election, increasing the likelihood that President Joseph Kabila's protege will win.The next government will be less likely to modify new mining legislation that's deeply unpopular with Glencore Plc and Randgold Resources Ltd for boosting taxes and removing investor protections.Tha...Read More
WASHINGTON, Nov 13 (Reuters) - Italy’s fiscal stimulus plans would leave the country vulnerable to higher interest rates that could ultimately plunge it into recession, the International Monetary Fund warned on Tuesday, recommending instead a “modest” fiscal consolidation to reduce financing costs.The IMF said after an annual staff review of Italy’s economic policies that a...Read More
BERLIN (Reuters) - Senior German officials are planning a last-ditch drive to convince the government to consider excluding Chinese firms such as Huawei from building the country’s 5G infrastructure amid concerns this could compromise national security.The behind-the-scenes push in Berlin, which comes after decisions by Australia and the United States to ban Chinese suppliers from 5G, has em...Read More
(Kitco News) - Thegold/silver ratio has risen to its highest level in roughly a quarter century,with silver suffering from both weakness in precious metals lately but also draggeddown by pessimism about base metals.“Thesilver price has been very weak in recent days - in both absolute and relativeterms....The gold/silver ratio has risen to 86, its highest level in 25 years,”said a resea...Read More
LONDON (Reuters) - Big Oil is today in a spending sweet spot as years of cost cuts and rising oil prices converge but investments will need to rise after 2020 to boost output, BlackRock, the world’s largest asset manager, said on Tuesday.Oil and gas giants such as Royal Dutch Shell (RDSa.AS), Chevron (CVX.N) and BP (BP.L) are generating as much cash at today’s oil prices of around $70...Read More
WASHINGTON (Reuters) - CNN filed a lawsuit on Tuesday against the Trump administration over the revocation of press credentials for White House correspondent Jim Acosta, whose questions and reporting have been a frequent target of criticism by President Donald Trump.“We have asked this court for an immediate restraining order requiring the pass be returned to Jim, and will seek permanent rel...Read More
Susquehanna lifted its rating on both names to "positive"Chip stocks have had a rough stretch, as evidenced by the price action in the VanEck Vectors Semiconductor ETF (SMH), down 15% since its early September highs near $110. Susquehanna sees buying opportunity within the semiconductor space, though, and earlier today upgraded Nvidia Corporation (NASDAQ:NVDA) and Xilinx, Inc. (NASDAQ:XLNX) to "p...Read More
AAPL is lower after Goldman cut iPhone estimatesThe shares of Apple Inc. (NASDAQ:AAPL) are down 0.5% to trade at $193.25 this morning, after a price-target cut from Goldman Sachs to $209 from $222. In addition, the brokerage firm cut Apple's iPhone estimates for 2019, thinking it will produce 6% fewer iPhones next year because supplier Lumentum Holdings (LITE) recently slashed its shipment outlo...Read More
SINGAPORE (Reuters) - Asian leaders gathered for a summit on Tuesday amid warnings that the post-World War Two international order is in jeopardy and trade tensions between Washington and Beijing could trigger a “domino effect” of protectionist measures by other countries.Malaysian Prime Mahathir Mohamad told a business forum ahead of the summit in Singapore that other developed countr...Read More
• A modest USD uptick prompts some fresh selling at higher levels. • Improving risk-sentiment further collaborate to the intraday slide. • Fed rate hike expectations should keep a lid on any attempted rebound. Gold surrendered early modest recovery gains and dropped to fresh one-month lows, below the key $1200 psychological mark...Read More
STRASBOURG, France (Reuters) - German Chancellor Angela Merkel on Tuesday told the European Parliament that a European digital tax should only be introduced if broader global efforts fail.“We think the best thing would be to find an international solution in an international context ... but if that doesn’t work, we can’t wait forever but rather need to act at the European level a...Read More
The S&P tends to perform well during the short holiday weekThanksgiving week is typically a low-volume trading week, with U.S. stock markets open fewer than four days (Black Friday is a half-day for Wall Street). This week, I'll look at what stocks have done in the past during the week of Thanksgiving, while also finding which stocks tend to do well -- and which stocks don't -- during the holiday...Read More
(Kitco News)- A lack of fear in financialmarkets is keeping a lid on gold prices, according to Europe’s largestprecious-metals retailer.Despite the equity markets’continued correction following the worst month since the 2008 financial crisis,analysts at Degussa said in their latest market report that investors aren’tfleeing into gold because they aren’t afraid of a bear sto...Read More
Fred Imbert| @foimbertPublished 15 Hours AgoUpdated1 Hour AgoCNBC.com show chapters Markets will bounce 'all over the place' on White House's trade statements, Nuveen's Bob Doll says 7 Hours Ago |04:18 Stocks fell in volatile trading on Tuesday, failing to regain their footing after suffering steep losses in the previous session.The Dow Jones Industrial Aver...Read More
TLT call traders love to "buy low," and the trend continued after a brutal OctoberSpiking bond yields were one of the major factors that rattled equity investors in October, and accordingly, the iShares 20+ Year Treasury Bond ETF (TLT) took quite the proverbial trip to the woodshed. On Oct. 3, the fund broke below previously stalwart support in the $116-$116.50 area, which had supported lows in Fe...Read More
The S&P 500 and the Nasdaq opened higher on Tuesday, boosted by a rebound in technology stocks and hopes of progress in the U.S.-China trade talks, while losses in Boeing Co (BA.N) and Home Depot Inc (HD.N) weighed on the Dow.The Dow Jones Industrial Average .DJI fell 65.97 points, or 0.26 percent, at the open to 25,321.21. The S&P 500 .SPX opened higher by 3.83 points, or 0.14 percent...Read More
WASHINGTON (Reuters) - U.S. soybean farmer Mike Schlosser does not expect President Donald Trump’s trade war with China, the single biggest headwind to his business, to end any time soon. But he is among many in farm country who expect at least some good news this year - in the form of a new Farm Bill.Congress comes back on Tuesday for the lame-duck session after Democrats in last week&rsquo...Read More
Mr. Eric Fier reportsSILVERCREST APPOINTS PIERRE BEAUDOIN AS COOSilvercrest Metals Inc. has appointedPierre Beaudoin as chief operating officer for the company. Mr. Beaudoinwill dedicate his full attention to the development of the Las Chispas property, and, as such, he will be stepping down from the Silvercrest board in December.Mr. Beaudoin is a precious metal mining executive with more than 30...Read More
NEW YORK (Reuters) - Walmart (WMT.N) and Home Depot (HD.N), two of the top 10 U.S. employers, have embraced a health insurance strategy that punishes drugmakers for using discount cards to keep patients from switching or stopping their medications.Large U.S. companies have started tightly managing how employees and their family members use these popular discount, or copay, cards for everything fro...Read More
Amazon has struggled to recover from its late-October lowsShares of Amazon.com, Inc. (NASDAQ:AMZN) are slightly higher in early trading, after a report out of the Wall Street Journal stated the e-tailer has selected New York City and Northern Virginia as locations for its next two headquarters. The company is expected to make an announcement of the conclusion to its 14-month search by the end of...Read More