Twitter Inc (NYSE:TWTR) has been a long-time punching bag for Wall Street, but the social media stock has been a technical outperformer since bottoming at $14.12 last April. In fact, it just surged 42.3% in the fourth quarter. This technical strength is continuing today, with the shares last seen trading at a two-year high of $25.70, as a bullish analyst note has lifted TWTR stock 5.8% this mornin...Read More
LONDON, Jan 12 (Reuters) - Four euro zone countries are scheduled to sell bonds in the coming week via auction. * On Monday, Slovakia will reopen bonds maturing in January 2027 and March 2037 and is expected to raise up to 300 million euros, according to analysts. * On Wednesday, Germany is to sell 1.5 billion euros of 30-year bonds. * On Thursday, France plans to sell 6.5-7.5 billion euros of thr...Read More
* Consumer prices rise 0.3 pct in Dec. vs est. rise of 0.2 pct* Retail sales up 0.4 pct vs est increase of 0.4 pct* Facebook falls after making changes to News Feed* Indexes up: Dow 0.42 pct, S&P 0.19 pct, Nasdaq 0.07 pct (Updates to open)By Sruthi ShankarJan 12 (Reuters) - Wall Street's main indexes were higher on Friday as strongDecember retail sales data drove gains in consumer stocks and b...Read More
FRANKFURT, Jan 12 (Reuters) - A blueprint for talks on Germany's next coalition governmentcirculated on Friday spelled out measures to achieve a renewable quota of 65 percent in the power mix by 2030.* Negotiators said they plan tenders for 4 gigawatts (GW) of photovoltaics and 4 GW onshore wind as well as an unspecified offshore wind energy contribution for 2019 and 2020* This will help achieve t...Read More
Electronic Arts Inc. (NASDAQ:EA) is down 0.8% to trade at $111.00 this morning, after Morgan Stanley downgraded the video game stock to "equal weight" from "overweight," while issuing a price-target cut to $120 from $126. Morgan Stanley cited weak digital revenue for its "Star Wars" game, as well as the company's conservative stance on upcoming titles, as reasons for the downgrade. SunTrust Robins...Read More
Facebook, Inc. (NASDAQ:FB) is falling in early trading, after CEO Mark Zuckerberg, announced that the social media platform will be filtering its News Feed to prioritize what's been shared by a user's family and friends, as opposed to non-advertising content produced by publishers and other businesses. Zuckerberg said he expects the shift to have a negative impact on user engagement and time spent...Read More
OSLO, Jan 12 (Reuters) - Norway's central bank has awarded 73 billion Norwegian crowns ($9.17 billion) in an F-deposit for Jan 12-15, with a highest rate of 0.50 percent, it said on Friday.Overall demand in the auction was for 79.82 billion crowns.Allocation at the highest rate was 88.86 percent, the central bank added.($1 = 7.9611 Norwegian crowns) (Reporting by Oslo newsroom) Disclaimer: The vi...Read More
TORONTO, Jan 12 (Reuters) - Canada's main stock index opened flat on Friday, as resources stocks and marijuana producers weighed, lumber companies bounced higher and an oil and gas explorer jumped after announcing a reduced capital spending plan. The Toronto Stock Exchange's S&P/TSX composite index was up 17.49 points, or 0.11 percent, to 16,304.43 shortly after the open. It is heading for a 0...Read More
US-based Planetary Resources is now a step closer to begin mining asteroids as it successfully launched Thursday night its Arkyd-6 spacecraft, the company's second technology for celestial bodies-observing tests.The Redmond, Washington-based firm had been working on its Arkyd-6 imaging satellite for years with the goal of developing a tool able to deliver affordable, on-demand intelligence of n...Read More
Mr. Joseph Campbell reportsTERRAX ACQUIRES PTARMIGAN MINE PROPERTY ON EASTBELT, YELLOWKNIFE CITY GOLDTerrax Minerals Inc. has entered into an agreement to acquire the Ptarmigan mine property, located within its Eastbelt property at the Yellowknife City gold project.The Ptarmigan mine was a gold producer in the Yellowknife gold district from 1941 to 1942, in 1983, and from 1985 to 1997.The main Pta...Read More
Futures on the Dow Jones Industrial Average (DJI) are trading well above fair value, after the blue-chip index closed at a fresh record high on Thursday. Traders are cheering signs of political stabilization in Germany -- where Chancellor Angela Merkel's CDU party and Martin Schulz's Social Democratic party have reportedly agreed to an outline to begin formal coalition negotiations -- as well as d...Read More
The equity markets have been ascrazy as I have seen since the Internet bubble of the 1990s with one majordifference -- they never go down. The dot.com craze was wild in bothdirections; stocks always ended up higher but had major swings of 3% to 5%.Today's market has not seen a down move of 3% in two years, which is thelongest such period in history.For the last month, the gold market has been acti...Read More
(Kitco News) - Gold pricesare moderately higher in early U.S. trading Friday, but off theovernight gains that notched a four-month high. U.S. consumer price inflationthat was a bit higher than expected helped to pull the gold market off itsovernight highs. However, gold and silver prices are being supported by aslumping U.S. dollar index and a surging Euro currency. February Comex gold waslast up...Read More
WASHINGTON, Jan 12 (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Friday that he believes the Republican tax cuts will ultimately become revenue neutral over 10 years due to higher growth, but the Treasury will likely ask Congress for more money to implement the plan."We think there will be over $1 trillion in growth, so I do think this will pay for itself," Mnuchin told an e...Read More
Editor's Note: Updating earlier story with more details from report, current prices.(Kitco News) - Goldfutures pared overnight gains slightly after a Commerce Department report Fridayshowing that U.S. retail sales rose by 0.4% to $495.4 billion in December. Sales excluding autos were also up 0.4%.The headline number was slightly below consensusexpectations compiled by news organizations that had b...Read More
(Kitco News)- Gold prices have fallen from their four-month highsfollowing stronger-than-expected U.S. inflation data.Friday,the U.S. Consumer Price Index rose 0.1% in December, after increasing 0.4% in November,the U.S. Labor Department said. According to consensus forecasts, economistswere expecting to see an increase of 0.1%.However,monthly core inflation, which strips out volatile food and ene...Read More
(Kitco News) - First Majestic Silver Corp. (TSX: FR; NYSE: AG) has agreed to acquire Primero MiningCorp. (TSX: P) in an all-stockdeal, the companies announced Friday.With the addition ofPrimero’s San Dimas silver-gold mine in Mexico, First Majestic said it anticipatescompany annualized silver-equivalent production of 27 million to 30 millionounces. First Majestic already operates six mi...Read More
(Kitco News) - Gold broke above the $1,322 level as the dollar came underfurther pressure overnight. With growth in Europe accelerating, the markets are expecting the ECB to begin amore aggressive tightening cycle. Physical demand in Asia has also picked upahead of the Chinese Lunar New Year. The recent move in gold has been almostentirely correlated to dollar weakness, which continues to remain t...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
Indonesian authorities inked Friday a deal with state-owned holding Asahan Aluminum, or Inalum, which sets a framework for Freeport-McMoRan (NYSE:FCX) to transfer control of its massive Grasberg copper and gold mine as agreed last year.The country and the Phoenix, Arizona-based miner had arranged in principle in August that up to a 51% stake in Freeport's local unit, PT Freeport Indonesia (PTFI),...Read More