WASHINGTON (Reuters) - U.S. President Donald Trump is considering removing Department of Homeland Security chief Kirstjen Nielsen and replacing chief of staff John Kelly in another shakeup of his administration, ABC News reported on Tuesday, citing multiple unnamed sources.Nielsen, a prot?(C)g?(C) of Kelly who became the secretary at Homeland Security when he left the job to become Trump’s c...Read More
(Kitco News) -The sentiment from the Silver & Gold Summit in SanFrancisco was one of fear - the nosedive that equities took in October hasunderstandably shaken investors’ confidence in the stock markets.The questions on everyone’s mind is during the conferencewas whether or not investors will flood back to safe havens in 2019, and if so,will gold take the crown as the king of safe...Read More
Home Depot, meanwhile, has reversed lower after earningsThe Dow Jones Industrial Average (DJI) is sporting modest gains at midday, as a swing higher for Apple (AAPL) stock and reports of revamped U.S.-China trade talks offset a post-earnings reversal for Home Depot (HD) and another day of sharp losses for oil prices. Specifically, December-dated crude futures are down 3.8% at $57.65 per barrel, he...Read More
JOHANNESBURG (Reuters) - South Africa’s Home Affairs Minister Malusi Gigaba has resigned, the president’s office said on Tuesday, following calls from opposition parties for him to stand down over a High Court ruling which said he had lied under oath.Gigaba, who was finance minister between March 2017 and February 2018, has denied any wrongdoing. Gigaba, who in February was reappointed...Read More
Gold has come under renewed downward pressure since the Fed's meeting (November 8).Speculators continue to normalize their bearish positioning in Comex gold, the CFTC shows.ETF investors cut slightly their gold holdings last week, according to FastMarkets.The outcome of US midterm elections (November 6) should be dollar-negative.I continue to expect a strong rebound in gold prices into year-end....Read More
LONDON/BRUSSELS (Reuters) - A Brexit deal is almost within touching distance, Prime Minister Theresa May’s de facto deputy said on Tuesday, as Britain and the European Union sought to avoid missing a deadline for approving the divorce.While officials choreograph the first withdrawal of a sovereign state from the EU, it remains unclear whether May can get any deal approved by the British parl...Read More
(Repeats with no changes to text)STRASBOURG, Nov 13 (Reuters) - German Chancellor Angela Merkel told the European Parliament on Tuesday that the euro zone will only work if all member states meet their treaty responsibilities as a deadline looms for Italy to re-submit budget plans to the European Union.“Our common currency can only function if every individual member fulfils their responsibi...Read More
WASHINGTON (Reuters) - Georgia voters will wait until at least Friday for the final word on who will be their next governor after a U.S. federal judge ordered state election officials to review provisional ballots cast in last week’s election.In an order late on Monday, U.S. District Court Judge Amy Totenberg urged county election officials to conduct a “good faith” or “ind...Read More
Two key Democratic Republic of Congo opposition leaders withdrew their support for a joint candidate in next month's election, increasing the likelihood that President Joseph Kabila's protege will win.The next government will be less likely to modify new mining legislation that's deeply unpopular with Glencore Plc and Randgold Resources Ltd for boosting taxes and removing investor protections.Tha...Read More
WASHINGTON, Nov 13 (Reuters) - Italy’s fiscal stimulus plans would leave the country vulnerable to higher interest rates that could ultimately plunge it into recession, the International Monetary Fund warned on Tuesday, recommending instead a “modest” fiscal consolidation to reduce financing costs.The IMF said after an annual staff review of Italy’s economic policies that a...Read More
BERLIN (Reuters) - Senior German officials are planning a last-ditch drive to convince the government to consider excluding Chinese firms such as Huawei from building the country’s 5G infrastructure amid concerns this could compromise national security.The behind-the-scenes push in Berlin, which comes after decisions by Australia and the United States to ban Chinese suppliers from 5G, has em...Read More
(Kitco News) - Thegold/silver ratio has risen to its highest level in roughly a quarter century,with silver suffering from both weakness in precious metals lately but also draggeddown by pessimism about base metals.“Thesilver price has been very weak in recent days - in both absolute and relativeterms....The gold/silver ratio has risen to 86, its highest level in 25 years,”said a resea...Read More
LONDON (Reuters) - Big Oil is today in a spending sweet spot as years of cost cuts and rising oil prices converge but investments will need to rise after 2020 to boost output, BlackRock, the world’s largest asset manager, said on Tuesday.Oil and gas giants such as Royal Dutch Shell (RDSa.AS), Chevron (CVX.N) and BP (BP.L) are generating as much cash at today’s oil prices of around $70...Read More
WASHINGTON (Reuters) - CNN filed a lawsuit on Tuesday against the Trump administration over the revocation of press credentials for White House correspondent Jim Acosta, whose questions and reporting have been a frequent target of criticism by President Donald Trump.“We have asked this court for an immediate restraining order requiring the pass be returned to Jim, and will seek permanent rel...Read More
Susquehanna lifted its rating on both names to "positive"Chip stocks have had a rough stretch, as evidenced by the price action in the VanEck Vectors Semiconductor ETF (SMH), down 15% since its early September highs near $110. Susquehanna sees buying opportunity within the semiconductor space, though, and earlier today upgraded Nvidia Corporation (NASDAQ:NVDA) and Xilinx, Inc. (NASDAQ:XLNX) to "p...Read More
AAPL is lower after Goldman cut iPhone estimatesThe shares of Apple Inc. (NASDAQ:AAPL) are down 0.5% to trade at $193.25 this morning, after a price-target cut from Goldman Sachs to $209 from $222. In addition, the brokerage firm cut Apple's iPhone estimates for 2019, thinking it will produce 6% fewer iPhones next year because supplier Lumentum Holdings (LITE) recently slashed its shipment outlo...Read More
SINGAPORE (Reuters) - Asian leaders gathered for a summit on Tuesday amid warnings that the post-World War Two international order is in jeopardy and trade tensions between Washington and Beijing could trigger a “domino effect” of protectionist measures by other countries.Malaysian Prime Mahathir Mohamad told a business forum ahead of the summit in Singapore that other developed countr...Read More
• A modest USD uptick prompts some fresh selling at higher levels. • Improving risk-sentiment further collaborate to the intraday slide. • Fed rate hike expectations should keep a lid on any attempted rebound. Gold surrendered early modest recovery gains and dropped to fresh one-month lows, below the key $1200 psychological mark...Read More
STRASBOURG, France (Reuters) - German Chancellor Angela Merkel on Tuesday told the European Parliament that a European digital tax should only be introduced if broader global efforts fail.“We think the best thing would be to find an international solution in an international context ... but if that doesn’t work, we can’t wait forever but rather need to act at the European level a...Read More
The S&P tends to perform well during the short holiday weekThanksgiving week is typically a low-volume trading week, with U.S. stock markets open fewer than four days (Black Friday is a half-day for Wall Street). This week, I'll look at what stocks have done in the past during the week of Thanksgiving, while also finding which stocks tend to do well -- and which stocks don't -- during the holiday...Read More