It's a mixed session on Wall Street today, as traders await updates on the budget showdown in D.C. Among individual stocks making notable moves are embattled blue chip General Electric Company (NYSE:GE), pharmaceutical firm Valeant Pharmaceuticals Intl Inc (NYSE:VRX), and e-commerce giant Amazon.com, Inc. (NASDAQ:AMZN). Here's a quick look at what's moving shares of GE, VRX, and AMZN.GE Stock Hit...Read More
U.S. stocks hit new highs again this week, with the Dow Jones Industrial Average (DJI) soaring past the 26,000 level, thanks to another round of well-received fourth-quarter earnings reports. The momentum stalled by week's end, however, when profit-taking and fears of a government shutdown took hold on Wall Street. As a result, the CBOE Volatility Index (VIX) notched its best weekly win since Dec...Read More
(Updates quotes, prices and news throughout)* 10-year yields hit highest level since September 2014* Deadline for U.S. government funding bill approaching By Kate DuguidNEW YORK, Jan 19 (Reuters) - Yields on the 10-year U.S. government note hit a three-year high on Friday as weakness in overnight trading led the debt to test key technical support levels, before the higher yields attracted new buy...Read More
The shares of biotech Exelixis, Inc. (NASDAQ:EXEL) -- which makes Cabometyx -- have been in a channel of higher highs and lows since early 2016, gaining 55% over the past year. Since its most recent test of the $32-$32.50 range -- home to its Oct. 16 record high -- earlier this month, EXEL stock has given back about 13%, and was last seen 0.3% lower to trade at $27.80. However, the drug stock coul...Read More
SAN FRANCISCO, Jan 19 (Reuters) - San Francisco Federal Reserve President John Williams on Friday did not comment on reports Thursday that he is under consideration by the White House to be the Fed Board's No. 2, succeeding Stanley Fischer who resigned late last year."I'm not going to comment on that at all," he told reporters after an event at the Fed's headquarters. "This is a dec...Read More
Jan 19 (Reuters) - * Synchrony Financialposted quarterly adjusted earnings of 70 centsper share. The mean expectation of 20 analysts for the quarter ended December 31 was for earnings of 63 centsper share. * Revenue rose 7.94 percent to $3.92 billion from a year ago; analysts expected $3.96 billion. * Synchrony Financial's Reported EPS for the quarter was 49 cents. * The mean earnings estimate of...Read More
Jan 19 (Reuters) - * Kansas City Southernposted quarterly adjusted earnings of $1.38 per share. The mean expectation of 18 analysts for the quarter ended December 31 was for earnings of $1.37 per share. * Revenue rose 10.34 percent to $660.40 million from a year ago; analysts expected $656.28 million. * Kansas City Southern's Reported EPS for the quarter was $5.33. * The mean earnings estimate of...Read More
Gold looks to close the week slightly lower. DXY retraces daily losses in the early NA session. UoM Consumer Sentiment Index is due next from the U.S. After reaching a fresh daily high at $1338 during the European session, the XAU/USD pair lost its traction and started to consolidate its daily gains. As of writing, the pair was trading at $1334, still up 0.55% on the day. Global equity indexes&#...Read More
* Gold, silver, palladium set for first weekly drop in six* Platinum on track for sixth weekly gain* Analysts cautious on gold as dollar weakness seen overdone (Updates prices; adds comment and NEW YORK to dateline)By Renita D. Young and Maytaal AngelNEW YORK/LONDON, Jan 19 (Reuters) - Gold prices rose slightly on Friday as the U.S. dollar hovered near a three-year low on heightened fears of a U.S...Read More
WASHINGTON (Reuters) - U.S. financial regulators have begun work to “streamline” the Volcker Rule banning banks from making risky bets with their own money, the country’s top banking regulator said on Friday.Randal Quarles, vice chairman for supervision at the Federal Reserve, told a conference in Washington that the five agencies that oversee the rule were working on a proposal...Read More
Jan 19 (Reuters) - * Regions Financial Corpposted quarterly adjusted earnings of 36 cents per share. The mean expectation of 27 analysts for the quarter ended December 31 was for earnings of 26 centsper share. * Revenue rose 11.91 percent to $1.49 billion from a year ago; analysts expected $1.44 billion. * Regions Financial Corp's Reported EPS for the quarter was 27 cents. * The mean earnings esti...Read More
Saqib Iqbal AhmedNEW YORK (Reuters) - The U.S. dollar took a harsh beating in 2017, on the way to its nearly 10 percent fall, its worst annual performance since 2003. The currency is still reeling this year.The dollar index .DXY, which measures the greenback against a basket of major currencies, recently fell to a three-year low.Moves by central banks around the world toward monetary policy normal...Read More
Michael Martina, Kevin YaoBEIJING (Reuters) - As influential voices within the U.S. business community warn China that U.S. President Donald Trump is serious about tough action over Beijing’s trade practices, there is little sense of a crisis in the Chinese capital, where officials think he is bluffing.In Beijing, many experts think Washington is unwilling to pay the heavy economic price nee...Read More
NEW YORK (Reuters) - Fitch Ratings said on Friday its top AAA debt rating for the United States would not be directly impacted by a possible federal shutdown, which will begin on Saturday if lawmakers fail to clinch a deal to fund the government.“Partial federal government shutdowns have occurred in the past and this shutdown does not have a direct impact on the sovereign’s ‘AAA&...Read More
(Adds detail, background)MILAN/ROME, Jan 19 (Reuters) - Italian airports and motorway operator Atlantia said on Friday it would call a shareholder meeting to vote on changes to its offer for Spanish rival Abertis , as it seeks to strengthen its hand in a bid battle. Atlantia said it proposed to shorten the lock-up period during which Abertis shareholders would not be able to sell new Atlantia sto...Read More
* Trump, Schumer meet to avert shutdown* 10-year Treasury yields highest since Sep 2014* Euro zone stock index hits 10-yr high (Updates with U.S. market open, changes byline, dateline; previous LONDON)By Chuck MikolajczakNEW YORK, Jan 19 (Reuters) - World equity markets scaled to a record on Friday as the U.S. dollar languished near three-year lows and a U.S. government shutdown loomed, while U.S....Read More
After risingfive consecutive weeks, gold has paused at the $1340 level, which is the levelbullion reached just after Donald Trump was declared the 45th Presidentof the United States on November 8th, 2016. However,this shocking and gold bullish news was immediately “trumped” by India’s PrimeMinister Narendra Modi announcing the confiscation of the country’s largest currencyb...Read More
By Ann SaphirSAN FRANCISCO, Jan 19 (Reuters) - The U.S. economy is being lifted by tailwinds, including the recent U.S. tax cuts, growth in the global economy, and financial conditions, San Francisco Federal Reserve Bank President John Williams said on Friday."In the U.S. we are now in a situation where the economy is actually doing well," Williams said, after years when the economy was...Read More
(Kitco News)- The U.S. dollar remains the key market gold investorsneed to watch in the near-term as further weakness will continue to support theyellow metal, according to analysts.Although gold is preparing to end the week in negativeterritory -- ending a five-week winning streak -- analysts see strong technicalmomentum in the marketplace that will continue to support prices.February gold future...Read More
The last couple of days have been tumultuous and this is reflected by the headlines in the media. In an article on the website of The Guardian, we read:Bitcoin has all the hallmarks of a classic speculative bubble and even after almost halving in value in a matter of weeks it still has further to fall, according to a leading team of economists.As regulators in South Korea again signalled on Thursd...Read More