The shares recently broke below long-term supportBack in October amid the broad-market sell-off, beer maker Constellation Brands, Inc. (NYSE:STZ) broke below a trendline that had supported its rise since 2012. The stock was swiftly rejected after rallying back to this trendline earlier this month, and the $200 area -- site of the August lows -- has also emerged as resistance. Now down more than 14...Read More
HSBC said Apple is "facing the reality of market saturation"Apple Inc. (NASDAQ:AAPL) is one of the worst performers on the Dow in early trading, after HSBC downgraded the FAANG stock to "hold" from "buy," and cut its AAPL price target to $200 from $205. The brokerage firm said the tech titan's "iconic hardware unit growth is broadly over for now," and that it's "facing the reality of market satura...Read More
Fred Imbert| @foimbertPublished 15 Hours AgoUpdated1 Hour AgoCNBC.com show chapters Trading Nation: S&P 500 Nears Death Cross 5 Hours Ago |04:16 Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to jitter...Read More
Oil prices are set for another positive session as expectations rise for a production cutDow Jones Industrial Average (DJIA) futures are signaling a lower start, as Wall Street reacts to a lack of details surrounding a U.S.-China trade truce. Optimism surrounding the deal sent stock markets surging to start the month, but Bloomberg reports no paper trail exists and Beijing has yet to confirm any c...Read More
The brokerage firm maintained its rating and lofty price target, thoughThe shares of Activision Blizzard, Inc. (NASDAQ:ATVI) are down 0.2% in electronic trading, after Wedbush removed the video game maker from its "Best Idea" list. The brokerage firm did however maintain its outperform rating and $81 price target on ATVI. This reevaluation follows ATVI's struggles in recent months. Since its...Read More
A new 52-week low in USO's share price coincided with a fresh high in call open interestThe fourth-quarter sell-off in oil prices has been fairly massive in magnitude, with the West Texas crude-tracking United States Oil Fund (USO) down about 34% from its Oct. 3 intraday peak of $16.24. The commodity fund's collapse occurred with such blinding speed that its 50-day and 200-day moving averages are...Read More
* China copper premiums at 18-month low * GRAPHIC-2018 asset returns: (Updates with closing prices)By Zandi ShabalalaLONDON, Dec 4 (Reuters) - Copper eased on Tuesday as marketsawaited remedial action by the United States and China after thetwo countries' weekendagreement on a 90-day ceasefire in theirdamaging trade dispute. Other metals, however, clung on to the previous session'sgains, powered b...Read More
Following a very detailed process, Miramont Resources (CSE: MONT) finally received a drilling permit for its Cerro Hermoso project in southern Peru. The permit was granted after a series of assessments conducted by the Peruvian Ministry of Energy and Mines -known as MEM- to determine if Indigenous groups could be affected by the Canadian miner's activities. "We are very happy to begin our drill pr...Read More
(Updates prices, adds analyst comment)ISTANBUL, Dec 4 (Reuters) - Turkey's lira weakened somethree percent on Tuesday amid increased expectations of an earlyloosening in monetary policyafter data showed the country'sannual inflation rate eased in November from a 15-year peak.The lira fell sharply earlier this year due to investors'concerns over the central bank's ability to respond adequately to h...Read More
* Palladium hits record high of $1,235/oz * Gold on track for second straight day of gains * Palladium could be bound for correction in shortterm-analysts * GRAPHIC-2018 asset returns: (Recasts, updates prices)By Swati VermaBENGALURU, Dec 4 (Reuters) - Gold rose to its highest inmore than five weeks on Tuesday as the dollar sagged after theUnited States and China agreed a 90-day pause on fresh tra...Read More
South Africa's DRDGOLD Ltd (JSE, NYSE:DRD) will commission this Thursday the first phase of the Far West Gold Recoveries project (FWGR) in West Rand, one of the assets it exchanged with precious metals producer Sibanye-Stillwater (JSE:SGL) (NYSE:SBGL) early this year.The project is a large-scale, long-life surface tailings retreatment that will retreat material with a 35% higher gold content t...Read More
Gold is currently trading at $1,237; the highest level since Nov.1 and looks set to extend the rally further, tracking the slide in the US 10-year treasury yield. Technically speaking, the safe haven yellow metal is looking north, having cleared the resistance of the trendline connecting the Oct. 26 low and Nov. 7 low. That breakout gained credence as prices moved above the horizontal resistance...Read More
Published 22 Hours AgoUpdated6 Hours AgoReuters Getty ImagesGold bullion bars and coins.Palladium soared to a record high on Tuesday, fueled by speculative interest and tight supplies of the autocatalyst metal, briefly surpassing bullion, which scaled to more than a five-week peak as the dollar slid.Spot gold was up 0.6 percent to $1,237.81 per ounce after earlier hitting $1,241.86, the highest...Read More
Published 22 Hours AgoUpdated6 Hours AgoReuters Getty ImagesGold bullion bars and coins.Palladium soared to a record high on Tuesday, fueled by speculative interest and tight supplies of the autocatalyst metal, briefly surpassing bullion, which scaled to more than a five-week peak as the dollar slid.Spot gold was up 0.6 percent to $1,237.81 per ounce after earlier hitting $1,241.86, the highest...Read More
The Gold Shares ETF needs to pop above its "reversion to the Mean" at $117.56 to regain momentum.The commodities ETF has a negative but oversold weekly chart with my annual pivot at $16.20.The long dollar ETF traded to a fresh 2018 high of $26.04 last week and is now overbought on its weekly chart.Here are the weekly charts for the gold, commodities and dollar exchange-traded funds. The gold trust...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average ended higher Monday after Donald Trump proclaimed a 90-day "truce" in the U.S. trade war with China.Nexstar Media Group Inc. (NXST) reached a deal to buy Tribune Media Co. (TRCO) for $6.4 billion, including debt. Tribune shares rose 12%.GlaxoSmithKline PLC (GSK) will buy ovarian cancer...Read More
The Monday Market Minute Global stocks surge as White House says U.S. and China reach 90-day truce on tariffs, Beijing says "important consensus" reached on trade at G20 summit in Argentina.Oil rises more than 5% on news that OPEC will pursue 2019 production cuts at this week's meeting in Vienna, while U.S.-China trade breakthrough boosts bullish sentiment in beaten-down commodities.Europea...Read More
Please Note: Most US markets will be closed tomorrow for a national day of mourning. "Meanwhile, futures giant CME Group CME will shut down trading of interest-rate and futures and options products for the day, though electronic trading and trading in energy and metals futures will have a regular session, including those for oil and gold. "We are deeply saddened by the passing of President Geor...Read More
By Craig HemkeCopper is often referred to as "Dr. Copper" for its ability to foreshadow moves in other markets and the global economy in general. Today we coin the term "Mr. Palladium", as this particular metal may be offering its own bit of foreshadowing. And what might that be? Perhaps the end of the entire LBMA/COMEX Digital Derivative and Fractional Reserve Pricing Scheme. You may recall tha...Read More
By Ira EpsteinGold continues to look good as stock indices sink and US Dollar weakens. https://www.iraepstein.com/ Read More