It's the only blue chip on the list of the best SPX stocks in NovemberThe U.S. equities market is set to end October at a substantial loss, with the Dow down 7.7% month-to-date, and the S&P 500 off 9.2%, at last check. History suggests a turnaround could be coming, considering November marks the start of the most bullish six-month period for stocks. Among specific names bulls may want to watch nex...Read More
* Hammond touts possible end to austerity with Brexit deal* BoE meets on Thursday; rates will likely be left unchanged* Graphic: World FX rates in 2018 tmsnrt.rs/2egbfVh* Graphic: Trade-weighted sterling since Brexit vote tmsnrt.rs/2hwV9HvLONDON, Oct 29 (Reuters) - The pound drifted lower on Monday as Britain’s finance minister Philip Hammond laid out the prospect of an end to austerity so...Read More
NEW YORK (Reuters) - Global stocks pared their gains Monday as investors remained cautious despite IBM’s $34 billion deal to purchase Red Hat Inc and Standard & Poor’s decision to keep Italy’s credit rating unchanged.The Dow Jones Industrial Average .DJI rose 133.78 points, or 0.54 percent, to 24,822.09, the S&P 500 .SPX gained 19.91 points, or 0.75 percent, to 2,678....Read More
Sandstorm continues to purchase shares of Entree Resources.Insiders are piling into Belo Sun Mining.I break down the most relevant gold insider buying updates.Insider gold buying has picked up a bit over the past month, especially over the past week or so with gold prices showing signs of a sustained rally. (Gold prices have rallied since the start of October. Credit: StockCharts) The technical p...Read More
The speculator placed a very well-timed bet late FridayRed Hat Inc (NYSE:RHT) stock has skyrocketed today, after IBM Corp (IBM) announced plans to purchase the software concern for about $34 billion. At last check, RHT stock was up 44.9% to trade at $169.04 -- and one recent options trader made a killing with a well-timed call purchase last week.In the last half-hour of Friday's session, a block o...Read More
LONDON (Reuters) - The British government has set out its exit strategy from its biggest taxpayer-funded bailout of the financial crisis, announcing plans to sell all of its shares in Royal Bank of Scotland (RBS.L) by 2024.The government owns 62.4 percent of RBS, Britain’s fourth-biggest bank by market value, which it rescued in 2008 with a 45.5 billion pound capital injection.The Office for...Read More
Meanwhile, Proofpoint shares are bouncing back from Friday's lowsThe Dow has erased its earlier lead on reports the U.S. is considering more tariffs on China. Three names in particular to watch today are cybersecurity specialist Proofpoint Inc (NASDAQ:PFPT), casino technology concern Scientific Games Corp (NASDAQ:SGMS), and electric auto manufacturer Electra Meccanica Vehicles Corp (NASDAQ:SOLO)....Read More
SPX's historical volatility has skyrocketed in OctoberIt's been a rocky month for the stock market, to say the least. The S&P 500 Index (SPX) briefly flirted with correction territory last week, and is on pace for its worst month since May 2010. What's more, over the past 20 sessions, SPX's 20-day historical volatility (HV) skyrocketed more than 300% -- from 5.48 on Sept. 28 to 22.41 on Friday, Oc...Read More
(Reuters) - The S&P 500 and the Dow industrials rebounded on Monday, helped by gains in lagging financial shares, but declines for big tech and Internet stocks kept the Nasdaq in check as investors grappled with a recent spike in market volatility.The healthcare .SPXHC and consumer staples .SPLRCS sectors also supported the S&P 500. Shares of software maker Red Hat Inc (RHT.N) gave among t...Read More
WASHINGTON (Reuters) - Back when President Donald Trump was just a New York City real estate developer, he did battle over a Manhattan building project with a local U.S. congressman, whom he criticized as “one of the most egregious hacks in contemporary politics.”That congressman, Jerrold Nadler, is now a senior member of the U.S. House of Representatives and one of a handful of top De...Read More
Mike Gleason: It is my privilege now to welcome in Greg Weldon, CEO and president of Weldon Financial. Greg has over three decades of market research and trading experience, specializing in the metals and commodity markets, and his close connection with the metals led him to author a book back in 2006, titled Gold Trading Boot Camp, where he accurately predicted the implosion of the U.S. credit ma...Read More
LONDON (Reuters) - Britain will scale back and then end in 2023 a flagship “Help to Buy” equity loan scheme, an initiative which has helped first-time buyers get onto the property ladder by allowing them to purchase a new home with as little as a 5 percent deposit.At the moment those taking advantage of the program, which is due to end in March 2021, can buy a property worth up to 600,...Read More
LONDON (Reuters) - British public debt looks set to remain high for a long time and finance minister Philip Hammond’s budget on Monday does not change that view, ratings agency Moody’s said.“Today’s budget confirms our expectation that we won’t see a material reversal in the UK’s high public debt levels for some time and that elevated debt levels will continue t...Read More
The car stock is fresh off its best week in seven monthsAuto giant Ford Motor Company (NYSE:F) has seenheavy options trading in recent weeks, landing on Schaeffer's Senior Quantitative Analyst Rocky White's list of 20 S&P 500 Index (SPX) stocks that saw the most options activity in the past 10 days. Names highlighted yellow are new to the list. Today, Ford stock is up 4% to trade at $9.35, thank...Read More
WASHINGTON (Reuters) - The U.S. Commerce Department on Monday said it has restricted U.S. exports to Chinese semiconductor maker Fujian Jinhua Integrated Circuit Co Ltd, citing a “significant risk” that its new memory chip capacity will threaten the viability of American suppliers of chips for military systems.In a press release, the Commerce Department said it has placed Fujian Jinhua...Read More
(Kitco News) - Gold prices aremoderately lower in early-afternoon U.S. trading Monday. Some profit takingfrom the shorter-term futures traders is featured. The stronger U.S. dollar index today that is hovering near last week’s nine-week high also workedagainst the precious metals market bulls today. There is also less riskaversion in the marketplace early this week as world stock markets hav...Read More
(Adds graphic, no change to text)By Richard LeongNEW YORK, Oct 29 (Reuters) - The increase in a key gauge of interbank borrowing costs for dollars slowed on Monday, while another measure of what banks borrow from each other remained elevated, raising speculation on what steps the Federal Reserve would take.The London interbank offered rate for banks to borrow three-month dollars from each other ro...Read More
NEW YORK (Reuters) - Former U.S. President Jimmy Carter waded into the heated governor’s race in his home state of Georgia on Monday, asking the Republican candidate to step down from his role as the state’s top elections official.Carter said he was concerned that popular confidence in Georgia’s gubernatorial election would be threatened if the candidate, Brian Kemp, were to rema...Read More
(Reuters) - U.S. stocks gained on Monday, helped by relief over Italy maintaining its debt rating, as equities clawed back from a sharp sell off last week.Financials .SPNY led broad gains among sectors as the benchmark S&P 500 rose more than 1 percent.Shares of software maker Red Hat Inc (RHT.N) gave among the biggest boosts to the S&P 500, surging 45.3 percent after the company agreed to...Read More
Merkel, 64, has been chairwoman of her conservative Christian Democrats (CDU) since 2000 and chancellor since 2005. Her decision to step down as chairwoman comes after her party suffered its second regional election setback in as many weeks.Merkel made the announcement a day after Sunday’s vote in the state of Hesse, at which the CDU came first but suffered a slump in support from the last e...Read More