Target earnings weighed down the retail sectorThe Dow plunged more than 550 points today, completely erasing its 2018 gains, with all 30 stocks ending lower. Apple (AAPL)took yet another beating, with most other FAANG stocks following suit. The retail sector was another major culprit of today's losses, with several notable names reporting disappointing earnings, including Target (TGT). Energy stoc...Read More
London has for the first time raised the veil on the size of its centuries-old gold market. The daily average of $36.9 billion in bullion moving in and out of London's over-the-counter market is just shy of the amount traded in New York, a new data release Tuesday showed. The London Bullion Market Association said its members - which include large banks such as HSBCHSBC, -0.31% and JPMorganJPM,...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
The precious metal broker, GoldCore, has opened a new storage facility in Dublin.The firm expects gold investors to move physical holdings out of London.After years of secrecy, London revealed the extent of its gold market on Tuesday.David Reid| @cnbcdavyPublished 10:20AM ET Tue, 20 Nov 2018Updated16 Hours AgoCNBC.com Waldo Swiegers | Bloomberg | Getty ImagesA worker lifts a gold bullion bar fr...Read More
The precious metal broker, GoldCore, has opened a new storage facility in Dublin.The firm expects gold investors to move physical holdings out of London.After years of secrecy, London revealed the extent of its gold market on Tuesday.David Reid| @cnbcdavyPublished 10:20AM ET Tue, 20 Nov 2018Updated16 Hours AgoCNBC.com Waldo Swiegers | Bloomberg | Getty ImagesA worker lifts a gold bullion bar fr...Read More
Gold is posting its 6th consecutive daily gain, the longest winning run since December as it broadens strength against bond yields and stock indices. Metals' ascending momentum is partly helped by USD weakness and indices' accelerating sell-off, leaving precious metals as the sole survivors at a time when the 4 leading crypto currencies are down between 70% and 85% year-to-date and oil is...Read More
WASHINGTON (Reuters) - President Donald Trump vowed on Tuesday to remain a “steadfast partner” of Saudi Arabia despite saying that Saudi Crown Prince Mohammed bin Salman may have known about the plan to murder dissident journalist Jamal Khashoggi last month.Defying pressure from U.S. lawmakers to impose tougher sanctions on Saudi Arabia, Trump also said he would not cancel military con...Read More
WASHINGTON (Reuters) - U.S. Democratic Senator Dianne Feinstein said she would withhold support for Saudi Arabia and urged U.S. sanctions after President Donald Trump’s statement earlier on Tuesday pledging to back Riyadh despite the murder of journalist Jamal Khashoggi.Feinstein said in a statement that she would not vote for any future weapons sales or appropriations for Saudi Arabia. She...Read More
Right now, the most explosive profit opportunity is concentrated in one segment of the legalized pot industry, and this extraordinary pot stock is getting ready to blow up. The marijuana industry is close to wrapping up a very exciting year for investors. Many solid cannabis companies hit major markets expanding their exposure.Also, with former attorney general Jeff Sessions out of office, this co...Read More
Vancouver-based Bonterra Resources (CVE: BTR) is continues its drilling program of at the Gladiator gold property and has extended the known mineralization to both the east and west. The property is in the Urban-Barry camp, 170 km northeast of Val d'Or, Quebec.The project includes the Gladiator deposit and the Duke claims about 200 metres north of the most northerly Gladiator zone. Drilling at...Read More
Oil prices plunged after the IEA forecast "uncertainty in oil markets"Energy stocks are being dragged lower by sinking oil prices today, after the head of the International Energy Agency (IEA), Fatih Birol, said, "We are entering an unprecedented period of uncertainty in oil markets." While January crude futures sink 6.7% to $53.35 per barrel, the shares of blue-chip energy giant Chevron Corporati...Read More
NEW YORK (Reuters) - Hedge fund Elliott Management on Tuesday asked Mitek Systems Inc (MITK.O) to scrap a so-called “poison pill” to let it buy more stock and said it may press for board changes after the software company took steps to protect itself from the activist investor.Elliott, which invests more than $34 billion, wrote to Mitek’s board and asked for “relief from th...Read More
Powell is apparently between a rock and a hard place. Inflation surged, while the global economy slowed down. What will he do? And how will gold react? Inflation Jumps in October The consumer price index climbed 0.3 percent last month, after rising 0.1 percent in September, according to the U.S. Bureau of Labor Statistics. It was the biggest rise since January, and it was mainly caused by a...Read More
NEW YORK (Reuters) - Walmart Inc (WMT.N), Target Corp (TGT.N) and Best Buy Co (BBY.N) have made changes to their gift card programs to reduce the risk of fraud as consumers enter the holiday shopping season.Barbara Underwood and Josh Shapiro, the attorneys general of New York and Pennsylvania, announced the changes on Tuesday, as part of a more than year-long initiative to thwart scam artists.The...Read More
WASHINGTON (Reuters) - White House Economic Adviser Larry Kudlow told reporters on Tuesday the next phase of U.S. tax reform will not happen during the final months of 2018, the “lame duck” period when Republicans will still control Congress.A follow-up to Republicans’ 2017 tax overhaul could be passed in the new session of Congress starting in January, Kudlow said, even though D...Read More
BEIJING (Reuters) - The failure of the countries attending a major Asia-Pacific summit to agree on a communique resulted from certain countries “excusing” protectionism, a top Chinese diplomat said, in a veiled criticism of Washington that further sours China-U.S. ties ahead of a meeting of the G20 nationsIn Washington, a White House official rejected the Chinese line as “complet...Read More
London's gold market owned up to the biggest secret in bullion: it's not as big as some thought and, for last week at least, smaller than New York's.An average of $36.9 billion of gold and $5.2 billion of silver changed hands each day in the city's over-the-counter market, including metal for delivery in Zurich, according to figures released for the first time on Tuesday by the London Bullion Mark...Read More
AMZN stock dropped more than 6% at the openThe U.S. stock market is spiraling for a second straight day amid weakness in the tech and retail sectors. Drilling down on individual names, in-flight internet provider Gogo Inc (NASDAQ:GOGO) and U.K.-based medical device maker LivaNova PLC (NASDAQ:LIVN) are sinking, while FAANG stock Amazon.com, Inc. (NASDAQ:AMZN) has swung higher. Here's a quick look a...Read More
WASHINGTON (Reuters) - The U.S. banking sector reported $62 billion in profits in the third quarter, up 29.3 percent from the same period a year ago, according to quarterly data from the Federal Deposit Insurance Corporation.The regulator said in a statement that profits were boosted by a lower effective tax rate and higher operating revenues.Reporting by Katanga Johnson Disclaimer: The views exp...Read More
A storm is comingin the equities markets and the first sign of a equity rain cloud is the deathcross that is hanging over the Russell 2000. This occurs when the 50-day movingaverage (DMA) crosses below the 200 DMA to the downside (see chart below). Ibelieve a break in the equities could be the catalyst that pushes gold through $1246/ozand powers it up to the 200 DMA at $1276/oz. Now recently sever...Read More