LONDON (Reuters) - Oil prices steadied on Monday as U.S. sanctions against Iran’s fuel exports began but were softened by waivers allowing major buyers to import Iranian crude for a while, as Tehran said it would defy Washington and continue to sell.Brent crude oil LCOc1 was unchanged at $72.83 a barrel by 1230 GMT. U.S. light crude CLc1 was 15 cents lower at $62.99.Both oil benchmarks have...Read More
UAA could take out its June highs todayThe shares of Under Armour Inc (NYSE:UAA) are coming off a huge week that saw them jump 31.8% thanks to a top- and bottom-line beat for the third quarter. UAA stock closed the week at $23.70, its highest settlement since late-June, putting it within striking distance of its June 7 52-week high of $24.69. The security is set to gain again this morning, up 2.5%...Read More
Apple is struggling once more out of the gateFutures on the Dow Jones Industrial Average (DJI) are lower to kick off the week, as investors prepare for the midterm elections tomorrow. Traders are also keeping an eye on U.S.-China trade relations, after Chinese President Xi Jinping promised to reduce tariffs for importersand promoted "free trade" at a conference in Shanghai. S&P 500 Index (SPX) a...Read More
(Reuters) - Lowe’s Companies Inc (LOW.N) is closing 20 underperforming stores in the United States and 31 in Canada as part of a restructuring, the home improvement retailer said on Monday.Lowe’s, which has trailed Home Depot (HD.N) in sales for years, is in the midst of a turnaround under new Chief Executive Officer Marvin Ellison, who has promised to remove slow-selling products and...Read More
Alamos GoldInc. (TSX, NYSE: AGI) reports that its drilling program has discovered anextension of high-grade mineralization at the Island Gold Mine. In the “main extension,” the new findingsinclude 118.58 grams of gold per tonne over 6.66 meters, 21.50 g/t over 7.80meters, and 31.70 g/t over 3.81 meters. In the “western extension,” discoveriesinclude 78.26 g/t over 2.29 me...Read More
(Reuters) - Verizon Communications Inc said on Monday it will reorganize its business segments into Consumer, Business and Verizon Media Group/Oath to focus on the types of customers it serves.The reorganization under Chief Executive Officer Hans Vestberg, who was named to the top job on Aug. 1, is a shift from the previous operating structure split between wireless and wireline and included the l...Read More
BERLIN, Nov 5 (Reuters) - German Chancellor Angela Merkel said on Monday that her Christian Democrats (CDU) had agreed they would like to continue heading up the federal coalition government with the Social Democrats (SPD) and Bavaria’s Christian Social Union.“I believe that what is important for the SPD - and this is justifiable - is that we, as the CDU, continue to feel committed to...Read More
* 10-year Treasuries and Bunds remain pinned to Friday’s highs* Risk appetite improves after more stable equity sessions* Reports of TLTRO extension lead to early dip in core yields* (Updates pricing, recasts to reflect improved market sentiment, adds quote)By Virginia FurnessLONDON, Nov 5 (Reuters) - Italian government bond yields rose 5-10 basis points on Monday before a euro zone finance...Read More
SEATTLE (Thomson Reuters Foundation) - As the commercial fishermen who ply salmon-rich, southwestern Alaska pack away their fishing gear for the winter, many are watching anxiously as a controversial mine proposal moves through the federal permitting process.On Tuesday, Alaskans will vote on an initiative that, if passed, would set stricter regulations for proposed infrastructure projects that aff...Read More
How you can transform lagging indicators into leading indicators.For hundreds of years, since the first stock exchange opened its doors, every trader has been looking for an edge... Some way to predict what will happen next... And hopefully collect a fat "paycheck" at the end of the road.From Bollinger bands to momentum oscillators, technical indicators have been at the forefront of this constant...Read More
(Kitco News) - Gold and silver prices are moderately lower in early U.S. trading Monday, as whatwill likely be a very active trading week gets under way. December gold futures were last down $4.30 an ounce at $1,228.90. December Comex silver was last down$0.131 at $14.625 an ounce. Globalstock markets were mixed overnight, with European shares mostly firmer andAsian shares mostly weaker. U.S. sto...Read More
(Kitco News)- Gold has bounced in a $20 range since the end of October.Discounting the drop on Oct. 31, which webelieve was fund selling to grab some profits for client-statement purposes to offset losses in the equity space, goldhas remained in a very tight range. Good economic numbers on Friday helped tostrengthen the dollar, but gold remained resilient into the weekend. Thetechnical picture rem...Read More
Polls suggest Congress may be split after Tuesday’s midterm elections,but then a “split Congress is the favored outcome for markets,” says BrownBrothers Harriman. Analysts note that the popular 538 Website shows Democrats have a sixin seven (85.2%) chance of winning control of the House of Representatives,while Republicans have a five in six (84.2%) chance of keeping the Senate.&...Read More
WASHINGTON/DUBAI (Reuters) - Iran said it would defy U.S. sanctions reimposed on it by Washington on Monday, denouncing as “economic war” the U.S. attempt to curb Tehran’s missile and nuclear programs and weaken its influence in the Middle East.The U.S. move restores sanctions lifted under a 2015 nuclear deal negotiated by the administration of President Barack Obama and five oth...Read More
Editor's Note: Welcome to Kitco's new Bitcoin Daily Technical Alert. Every trading day veteran Kitco technical analyst Jim Wyckoff will provide you with a concise and easy-to-understand near-term technical brief on Bitcoin. Importantly, Jim will glean the short-term charts and technical studies, and then alert you to the signals he sees regarding upcoming potential bigger price moves or price tren...Read More
SHANGHAI (Reuters) - Chinese President Xi Jinping promised on Monday to lower tariffs, broaden market access and import more from overseas at the start of a trade expo designed to demonstrate goodwill amid mounting frictions with the United States and others.The Nov. 5-10 China International Import Expo, or CIIE, brings thousands of foreign companies together with Chinese buyers in a bid to demons...Read More
CoT large speculators are in a rare net long position on VIX futures, which means volatility could decline"'At some point, maybe now, this 200-day breach will signal bearish activity to come. But there have been many 'false negatives' along the way too in which the break of this trendline occurred around major lows.'"...That said, there is often a volatile, choppy phase that equity markets endure...Read More
Lara Exploration (TSXV: LRA) and Capstone Mining Corp (TSE: CS) signed a Letter of Intent granting the latter an exclusive option to earn up to a 70% interest in the Lara's Planalto Copper Project.Planalto is a 4,726-hectare property located in the Caraj??s Province of northern Brazi, near Vale's Sossego copper mine and Oz Minerals Antas copper mine. The exploration licenses cover meta-volcano-sed...Read More
Canada's Barrick Gold (TSX, NYSE:ABX), which last month announced it was buying Randgold Resources (LON:RRS) in a $6.1-billion deal, is said to have resumed talks with rival Newmont Mining (NYSE:NEM) aimed at merging their gold operations in Nevada, US."They have been trying to negotiate for years but Newmont couldn't agree with Barrick, now that you have a new management team, it's certain they...Read More
* Specs increase net short positions in gold to highest in 3weeks * Platinum scales more than 4-month peak * GRAPHIC-2018 asset returns: (Recasts, updates prices, adds quotes)By Sumita LayekBENGALURU, Nov 5 (Reuters) - Gold fell on Monday asinvestors took some profits following a rally over the pastweek, but the market is cautious ahead of the U.S. midtermelections this week.Spot gold was down 0.3...Read More