NEW YORK (Reuters) - Stocks bounced back on Tuesday across the world, supported by earnings expectations, while oil prices fell on evidence of higher U.S. oil production and increasing U.S. crude inventories.European shares rallied, pulling up from Monday’s 22-month lows, partly on expectations that the reporting season will deliver double-digit earnings growth. A rebound in Italian assets h...Read More
GENEVA (Reuters) - U.N. human rights chief Michelle Bachelet called on Saudi Arabia and Turkey on Tuesday to reveal everything they know about the disappearance and possible murder of missing journalist Jamal Khashoggi and said Riyadh should waive immunity on its diplomatic premises and officials.Overnight, Turkish crime scene investigators entered the Saudi consulate in Istanbul, the last place K...Read More
PYPL shares are getting a boost todayU.S. stocks are soaring today thanks to strong quarterly earnings results. Three names that are joining in on the rally and trading higher following bullish analyst attention are digital payments specialist PayPal Holdings, Inc. (NASDAQ:PYPL), semiconductor concern Marvell Technology Group Ltd. (NASDAQ:MRVL), and blue chip The Coca-Cola Co (NYSE:KO). Below is a...Read More
Gold futures edged up Tuesday to mark another finish at their highest since July, but a rally in the U.S. stock market limited the gains for the precious metal. Against a backdrop of relatively stable trading for a leading dollar index, December gold GCZ8, -0.30% rose 70 cents, or less than 0.1%, to settle at $1,231 an ounce. Prices had pulled back from a high of $1,235.90, but the settlement was...Read More
Gold prices are down around 12% since its January peak.Wall Street consensus is net short Gold, according to CFTC futures and options data.The faster bond yields break down, the faster gold is going to break out, says Hedgeye CEO Keith McCullough.It's been a disastrous year to be long Gold (GLD). Gold prices are down around 12% since its January peak. However, some intriguing financial market chan...Read More
LONDON (Reuters) - There is still a one-in-four chance Britain and the European Union part ways in less than six months without reaching a deal, according to a Reuters poll taken as EU leaders prepare to meet in Brussels later this week.The stubborn problem of resolving the United Kingdom’s post-Brexit land border with Ireland thwarted an effort over the weekend to clinch a deal before this...Read More
LONDON (Reuters) - The pound rose above $1.32 on Tuesday on stronger-than-expected labour data, but investors said doubts about a European Union summit yielding much progress on Brexit would limit the currency’s advance.Negotiations are deadlocked over the status of the border between Northern Ireland and EU-member Ireland after Britain leaves the bloc in March.Some traders have been unwindi...Read More
• The precious metal built on last week's bullish breakthrough near two-month-old trading range, albeit now seemed facing some resistance near 50% Fibonacci retracement level of the $1309.30-$1160.19 downfall. • Given that technical indicators on the daily chart have started gaining positive momentum, a follow-through move beyond 100-day SMA, for...Read More
Hungary's central bank increased its gold reserves 10-fold, citing the need to improve its holdings' safety, joining regional peers with relatively high ownership in the European Union's east.Following a similar move by Poland, the central bank in Budapest now holds 31.5 tons of the metal, taking the share among total reserves to 4.4 percent, in line with the average in the region, according to a...Read More
(Kitco News) - Gold prices areslightly up and not far below Monday’s 10-week high in early-afternoon U.S.trading Tuesday. The gold bulls are impressed their metal is able to hold gainsamid a solid rally in the U.S. stock market today. December gold futures werelast up $1.80 an ounce at $1,232.50. December Comex silver was last down $0.007at $14.72 an ounce.Thenear-term technical posture for...Read More
WASHINGTON (Reuters) - The U.S. Federal Reserve said on Tuesday that it terminated a 2013 enforcement action against Royal Bank of Scotland Group (RBS.L) for sanctions lapses in its foreign operations.Between 2005 and 2009, the bank processed around $34 million in wire transfers that violated sanctions against Sudan, Iran, Cuba and Myanmar, the Treasury Department said in December 2013.The Fed sai...Read More
* China stocks end lower on lean factory gate inflation * GRAPHIC-2018 asset returns: (Adds closing prices)By Maytaal AngelLONDON, Oct 16 (Reuters) - Copper prices slid on Tuesdayamid lean factory-gate inflation data in China and naggingconcerns about global growth, trade tensions and rising U.S.interest rates.Chinese stocks fell overnight after data showed factory-gateinflation in the world's top...Read More
NEW YORK (Reuters) - Oil prices were little changed on Tuesday as concerns about tightening global supplies ahead of U.S. sanctions on Iran faced higher U.S. shale production and inventories.The disappearance of a Saudi Arabian journalist Jamal Khashoggi in Turkey has also strained U.S.-Saudi ties and provoked international outcry and fears that supplies from the world’s top crude exporter m...Read More
ROME (Reuters) - Italian Prime Minister Giuseppe Conte said on Tuesday he was proud of his government’s freshly approved expansionary budget while the European Commission warned it may run into opposition from euro zone partners.Italy’s governing coalition of the right-wing League party and anti-establishment 5-Star Movement vow not to backtrack, saying their big-spending plan is neede...Read More
(Reuters) - Walmart Inc’s (WMT.N) chief executive officer on Tuesday urged investors to rethink the company’s business, touting its various tech investments to grow online sales at a time it is battling Amazon.com (AMZN.O) for market share.The retailer also lowered its earnings forecast for the year and said its e-commerce growth next year would be slower than in the current fiscal yea...Read More
Dow stocks Goldman Sachs and UnitedHealth are both higher after earningsThe Dow Jones Industrial Average (DJI) is up more than 350 points, on track for its best day in two months, thanks to some strong earnings reports from blue-chips Goldman Sachs (GS) and UnitedHealth (UNH). The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are sporting impressive gains, too, powered by a bouncing tech sector...Read More
U.S. hedge fund Livermore Partners is calling for an overhaul of the board at Detour Gold Corp and a strategic review, becoming the second activist to target the Canadian mining company.Livermore, which has engaged in other activist campaigns including at Canadian and UK media firm Entertainment One Ltd , sent a letter to Detour on Tuesday, saying the board has failed its shareholders on "numerous...Read More
(Reuters) - BlackRock Inc’s (BLK.N) quarterly revenue fell short of Wall Street’s expectations on Tuesday as the world’s biggest asset manager reported its lowest sales of equity, bond and other long-term investments since the second quarter of 2016.Investors pulled money from BlackRock’s institutional stock index funds, while putting more into ostensibly lower-risk bond fu...Read More
Barrick Gold has rallied 37% off of its lows in the past month.While 2019 earnings estimates are an improvement from 2018 levels, they are still below 2017 levels.The stock likely needs a pullback and higher low to allow its moving averages to play catch-up before moving higher.Barrick Gold (ABX) has seen a powerful move off of the lows since September, which has accelerated after its acquisition...Read More
(Reuters) - Wells Fargo & Co (WFC.N) said on Tuesday it had applied for an investment firm license in France as part of a Brexit strategy to shift some of its servicing of European mainland customers out of London.The San Francisco-based bank, whose purchase of a high-profile location near the Bank of England two years ago was seen as a vote of confidence in the Brexit process, said it would c...Read More