Powell: Rates are "just below" neutralThe Dow spent the session in positive territory today, ending with a gain of more than 600 points -- its best day since March. The surge came after the much-anticipated speech from Fed Chair Jerome Powell, in which he indicated that the benchmark interest rate is "just below" neutral -- a far cry from his October statement of being a "long way" from neutral. M...Read More
Evidence of a looming financial crisis may be growing, according to Harry Dent.The man who warned of the 2001 tech crash, the 2008 subprime financial disaster and China's recent stock market decline - years before they happened - has issued a new earth-shattering statement:"The Dow is set to embark on a catastrophic plunge...all the way down to 6,000."Harry Dent recently explained: "Nations are...Read More
Gold, silver and mining stocks declined in a quite visible way yesterday, which is in tune with our previous expectations. In the previous days it was only silver and miners that declined in a meaningful manner, but yesterday gold joined them, making this a sector-wide decline. Is this the groundbreaking decline that we have been writing about for so long? Time will tell, but the earth is already...Read More
The Commerce Department said new home sales dropped 8.9 percent to a seasonally adjusted annual rate of 544,000 units last month.New home sales in the South, which accounts for the bulk of transactions, declined 7.7 percent to their lowest level since July 2017.The median new house price in the U.S. fell 3.1 percent to $309,700 in October from a year ago.Published 10 Hours AgoUpdated7 Hours AgoReu...Read More
The Federal issues a cautionary note about risks to financial stability.It says trade tensions, geopolitical uncertainty and a buildup in corporate debt among firms with weak balance sheets pose strong threats.Jeff Cox| @JeffCoxCNBCcomPublished 10 Hours AgoUpdated6 Hours AgoCNBC.com show chapters Financial systems are more resilient than before the crisis, says Fed financial stability report&nb...Read More
The management at Vancouver-based Pure Gold must be pleased with the results of test mining at the Madsen gold mine 16 km west of Red Lake.The test is complete having mucked 7,096 tonnes of mineralization from three separate stoping areas, and the results exceeded expectations by almost any criteria.Using a 4.0 g/t gold cut-off, the bulk sample had 46% more tonnes, an 8% higher gold grade, and an...Read More
Historically, December has been bad for shares of HAS and MATToy stocks are always in focus as the holiday season rolls in, and this year will mark the first without Toys 'R' Us after the company's bankruptcy earlier this year. What's more, toymakers Hasbro, Inc. (NASDAQ:HAS) and Mattel, Inc. (NASDAQ:MAT) are both flashing bearish signals heading into December, if history is any guide. Hasbro Stoc...Read More
The speculation has the car stock breaking out above a key levelThe Dow has shot up more than 500 points this afternoon, as Wall Street reacts to relatively dovish comments from Fed Chair Jerome Powell. Among individual stocks making big moves today are car rental name Hertz Global Holdings Inc (NYSE:HTZ), media giant Discovery, Inc. (NASDAQ:DISCA), and hydrogel specialist Alliqua Biomedical Inc (...Read More
Aurelius Minerals of Vancouver has exercised its option early to acquire a 100% interest in the Mikwam gold property 160 km northeast of Timmins. The company issued 1.5 million shares as share option payments to the former owner, ALX Uranium Corp.Aurelius previously made cash payments of $25,000 and issued 1.5 million shares to ALX, and the company retains a 5% net smelter royalty.This acquisiti...Read More
Recent earnings reactions have been poor for WDAYWhen we checked in on Workday Inc (NASDAQ:WDAY) earlier this month, put buying had been picking up, and that trend has only accelerated since. The 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) now stands at 1.75, ranking just 3 percentage points from a 1...Read More
The World Gold Council (WGC) said on Wednesday it would appoint David Tait, an investment banker and member of the Bank of England's market standards board, as chief executive from next year.Tait will take over in February from Aram Shishmanian, the council's CEO for the last decade, the WGC said.Tait's career in banking has included stints at Credit Suisse, UBS and Goldman Sachs as well as severa...Read More
• The precious metal continued with its struggle to register any meaningful recovery and was seen oscillating in a narrow trading band, forming a rectangle on the 1-hourly chart. • Given the overnight bearish breakthrough the $1220 important horizontal support, the rectangle would be categorized as a continuation pattern that marks a pause in the tre...Read More
Surge Exploration Inc. (TSXV: SUR) (OTC: SURJF) today announced that it has entered into a purchase and sale agreement with Venture Capital IQ to acquire a 100% interest in nine mineral claims comprising 197 square kilometres in the Omineca Mining Division in north central British Columbia.The company stated that the region is host to numerous operating mines, good infrastructure including experie...Read More
Gold: 4H: It looks like the corrective move is still continuing as a Triple Zig Zag corrective structure to the upside with the current Price Action in the second W.x which is either still continuing as a Triangle or already complete.Strategy: In either case (Continuation or already complete W.x) we look to initiate longs with SL below W.x low and targets above 1243. The author or any p...Read More
POTUS criticized the Fed chair, per a Washington Post reportThe Dow Jones Industrial Average (DJI) has spent the whole session trading in positive territory -- up triple digits, at last check -- ahead of an early afternoon speech from Fed Chair Jerome Powell. The central bank chief's speech follows harsh comments from President Donald Trump in a Washington Post report about his performance since t...Read More
Infill drilling from March through October at Osisko Mining's (TSX: OSK) Lynx deposit at its Windfall project in the Abitibi greenstone belt in the James Bay region of Quebec, has added ounces and higher grades, the company outlines in a resource update.The company has increased Lynx's indicated resources by 153,000 ounces of gold and boosted its grade from the 7.51 grams gold per tonne in a May...Read More
Chairman Leonard Riggio may 'participate in the potential sale process'Shares of Barnes & Noble, Inc. (NYSE:BKS) are trading up 3.3% at $7.32 today, after a Securities and Exchange Commission (SEC) filing indicated Executive Chairman -- and the firm's biggest shareholder -- Leonard Riggio "is evaluating, and may participate in, the potential sale process" of the company. Early last month, BKS stoc...Read More
Gold is stable since the start of November.Speculators have a weaker conviction in gold prices, the CFTC shows.ETF investors continue to accumulate gold, albeit at a small pace, according to Fastmarkets.Despite a stronger dollar and higher US real rates, gold demand is positive due to higher vol in risk assets.I expect gold prices to remain in an uptrend. Conviction, Stella Kisstiger (Saatchi Art)...Read More
The equity is already pacing for its best month in four yearsWhile the S&P 500 Index (SPX) is on pace for a second straight monthly loss, the airline sector has been flying above broad-market headwinds. In fact, Alaska Air Group, Inc. (NYSE:ALK) stock has added more than 20% so far in November, and is pacing for its best month since October 2014. What's more, ALK shares could extend their uptrend...Read More
It's been a rough stretch for FAANG stocks, but this one could find seasonal tailwindsFAANG stocks have been battered during the stock market sell-off, with several flashing death crosses in recent weeks. Alphabet Inc (NASDQ:GOOGL) is one tech name whose 200-day moving average moved above its 50-day moving average. If history is any guide, the equity could be ready to bounce back, considering GOOG...Read More