The U.S. is preparing new tariffs against all remaining Chinese imports if talks between Presidents Donald Trump and Xi Jinping fail, according to Bloomberg.The new round of taxes against goods from China could occur as early as December and target the rest of the imports from China, about $257 billion worth, per the report.The Dow Jones Industrial Average fell more than 100 points following the t...Read More
It wasanother wild roller coaster ride today with U.S. equities going throughtremendous price swings and closing dramatically lower on the day. Officially,today’s closing price in the Dow puts that index into corrective territory.TheDow Jones Industrial Average traded to a high with gains of 352 points. It alsotraded to a low, which resulted in a566-point drop only to recover slightly off th...Read More
Familiar trade-war concerns killed an early rally for stocksIt was a volatile, ugly session on Wall Street today, with the Dow up more than 352 points at its session highs before pivotingsharply lower late in the day. Driving the sudden U-turn was a Bloomberg report that the U.S. was planning on imposing tariffs on all remaining Chinese imports -- about $257 billion worth of goods -- should upcomi...Read More
(Reuters) - The United States is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war, Bloomberg reported on Monday.The list would apply to imports from China that aren't already covered by previous rounds of tariffs, which may be $257 billion using last year's import figures,...Read More
WASHINGTON (Reuters) - The U.S. Department of Agriculture is not planning to extend an up to $12 billion aid package for farmers into 2019, Secretary Sonny Perdue said on Monday, to mitigate farmer losses due to the imposition of tariffs on American exports.“Farmers are very resilient and adept in making their planning and marketing decisions based on the current market,” Perdue told r...Read More
(Reuters) - Declines in big tech and Internet stocks such as Amazon pushed the Nasdaq lower on Monday, while strength in financial shares mitigated declines for the S&P 500 as investors grappled with a recent spike in market volatility.The three major U.S. stock indexes lost their initial solid gains from earlier in the session.Major tech and growth stocks, such as Amazon (AMZN.O), Google pare...Read More
WASHINGTON (Reuters) - Wells Fargo & Co will not finish paying back the estimated 600,000 customers it wrongly charged for auto insurance until at least 2020, the bank said in a letter to U.S. lawmakers seen by Reuters.U.S. regulators slapped Wells Fargo with a $1 billion penalty in April when it admitted to wrongly forcing drivers into auto insurance policies. That agreement envisioned the cu...Read More
One investor guru thinks this may be the next big play to make in gold.The world's wealthiest investors always grab the headlines...Especially with a track record that's off the charts, producing explosive gains like this:$1.29 to $23.86, where $10,000 grew to over $184,000!Or how about his record-breaking score last month, 9 cents Canadian to C$1.18 in about 2 weeks, turning $10,000 into over $1...Read More
WASHINGTON, Oct 29 (Reuters) - The U.S. Treasury said on Monday it expects to borrow $15 billion less during the fourth quarter than previously estimated. The department said in a statement it expects to issue $425 billion through credit markets during the October-December period, assuming an end-December cash balance of $410 billion. Treasury also expects to issue $356 billion in net marketable d...Read More
HONG KONG (Reuters) - A five-year old Chinese smartphone company whose high-end products are little known outside a tech-savvy niche is entering the U.S. market on Monday with the backing of two key local allies: chipmaking giant Qualcomm (QCOM.O) and mobile operator T-Mobile.The foray by Shenzhen-based OnePlus comes after U.S. mobile carriers AT&T and Verizon this year backed away from plans...Read More
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