The S&P 500 snapped its lengthy losing streak as stocks roared backStocks bounced back in a big way today, with the Dow finishing 401 points higher thanks to a strong earnings reaction from blue-chip tech giant Microsoft (MSFT). Yesterday's steep losses were largely clawed back, as markets today rallied on a combination of positive quarterly reports and well-received economic data. The S&P 500 fin...Read More
WASHINGTON (Reuters) - Richard Clarida, U.S. President Donald Trump’s most recent addition to the Federal Reserve Board, made his debut speech on Thursday just days after Trump again slammed the Fed for raising interest rates. His message: rates should continue higher.“If the data come in as I expect, I believe that some further gradual adjustment in the federal funds rate will be appr...Read More
OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau's government will release a regular fall budget update on Nov. 21, the finance minister said on Thursday, less than a year before the next national election.Bill Morneau made the announcement on Twitter without giving any details.Reporting by Steve Scherer; Editing by Sandra Maler Disclaimer: The views expressed in this article are those o...Read More
NEW YORK (Reuters) - The Federal Reserve bought no agency mortgage-backed securities in the weekfrom Oct. 18 to Oct. 24, compared with $425 million purchased the previous week, the New York Federal Reserve Bank said on Thursday.In a move to help the housing market begun in October 2011, the U.S. central bank has been using funds from principal paymentson the agency debt and agency mortgage-backed...Read More
HOUSTON/RIO DE JANIERO (Reuters) - Chevron Corp (CVX.N) has held talks to acquire Pasadena Refining System Inc (PRSI), a Texas oil refining unit of Brazilian state-run oil firm Petroleo Brasileiro SA (PETR4.SA), three people familiar with the matter said this week.U.S. oil companies are looking to expand refining operations to handle rising volumes of crude flowing from the country’s shale f...Read More
NEW YORK (Reuters) - U.S. stocks gained on Thursday as Microsoft’s strong earnings helped Nasdaq-listed companies stage a rebound from the tech-heavy index’s worst decline since 2011 in the previous session.Traders said investors also went bargain-hunting after the market rout on Wednesday that erased the Dow and the S&P 500’s gains for the year and confirmed a correction for...Read More
ROME (Reuters) - U.S. President Donald Trump said on Thursday that Italy's prime minister was working very hard on the economy and would be successful.His comment on Twitter came only days after the European Commission rejected Italy's 2019 budget, saying it broke EU rules on public spending, and asked Rome to submit a new one within three weeks or face disciplinary action.Trump also said he agree...Read More
NEW YORK (Reuters) - U.S. President Donald Trump’s favorite report card on his presidency may be failing him at a critical moment.U.S. stocks have fared well since Trump took office, a fact he has repeatedly touted, but have stumbled badly in October. The S&P 500 .SPX is down 7.6 percent and on course for its biggest monthly drop of Trump's presidency with fewer than two weeks before v...Read More
LONDON (Reuters) - Banks in Britain must hold enough cash to withstand any disorderly Brexit hitting financial markets next March, Bank of England Deputy Governor Sam Woods said on Thursday.Woods said he was making sure that Britain’s departure from the European Union is as smooth as possible for markets, even if there is no exit deal between London and Brussels.“Just in case things go...Read More
The brokerage firm upgraded a number of homebuilding stocksHomebuilding stocks have taken a hit lately amid an onslaught of dismal housing data. The sector is higher today, though, on an upbeat pending home sales report and a bull note from Evercore ISI. The brokerage firm said to buy the weakness on housing stocks, and upgraded several names in the group to "overweight" from "inline," including K...Read More
(Reuters) - Credit rating agency Moody’s Investor Service changed its outlook on the U.S. retail industry to “positive” on Thursday, for the first time since July 2015, buoyed by optimism surrounding the economy and benefits from the retailers’ online investments.The retail industry has seen a resurgence this year with increased consumer spending and higher wages after bein...Read More
MEXICO CITY (Reuters) - Mexican central bank governor Alejandro Diaz de Leon said on Thursday that there is no indication that client resources in the financial system were affected by a recent cyber attack on insurer AXA.AXA said on Tuesday that it suffered a cyber attack on Monday, but that its clients' information and resources were safe and had not been affected.Reporting by Anthony Esposito;...Read More
Blue chips Exxon Mobil and Chevron will report earnings on FridayIt will be another busy week, with the latest batch of jobs data trickling in, including Friday's monthly payrolls report. Earnings season continues to heat up, too, with FAANG members Apple Inc. (NASDAQ:AAPL) and Facebook, Inc. (NASDAQ:FB) set to report -- and Apple is expected to unveil a new line of products on Tuesday. Several Ap...Read More
Mr. Greg Smith reportsCALIBRE MINING AND ROSITA MINING CONCLUDE AGREEMENT WITH NEW PARTNER FOR A US$8.5 MILLION INVESTMENT IN THE ROSITA D JOINT VENTURE, NORTHEASTERN NICARAGUACalibre Mining Corp., together with its joint venture (JV) partner, Rosita Mining Corp., has entered into a joint venture agreement with Century Mining for the further development and advancement of the Rosita D joint ventur...Read More
The stock market sold off sharply yesterday following the main indexes' breakdown below their October the 11th local lows. The S&P 500 broke below its long-term upward trend line, after falling below 2,700 mark again. Will the decline extend even further?The U.S. stock market indexes lost 2.4-4.4% on Wednesday, accelerating their downtrend, as investors' sentiment much worsened following globa...Read More
WASHINGTON/NEW YORK (Reuters) - The investigation into 10 pipe bombs sent to high-profile Democrats and critics of U.S. President Donald Trump is focusing on leads in Florida, a federal law enforcement source said on Thursday.Former Vice President Joe Biden and actor Robert De Niro on Thursday became the seventh and eighth intended targets of the bombs, all of which were intercepted before they ex...Read More
NEW YORK (Reuters) - Twitter Inc (TWTR.N) shares jumped as much as 22 percent on Thursday, putting them on track for their biggest one-day gain, as the social media company easily beat Wall Street’s revenue and profit estimates by selling more ads even though it lost users after purging millions of fake accounts.The surge in shares reversed a 19 percent fall three months ago when Twitter sho...Read More
MRVL, PPG, and LPT are joining in on the broad-market gainsU.S. stocks are on the rebound today, the Dow trading up more than 350 points at midday. Three names in particular making strong moves to the upside are semiconductor issue Marvell Technology Group Ltd. (NASDAQ:MRVL), paint supplier PPG Industries, Inc. (NYSE:PPG), and real estate investment trust (REIT) Liberty Property Trust (NYSE:LPT)....Read More
Less than a year after B2Gold Corp. (TSX: BTO; NYSE-AM: B2G) declared commercial production at its 80%-owned Fekola mine in southwestern Mali, the gold producer has updated the mine's resource estimate.Based on about 192,000 metres of exploration drilling in 928 holes, B2Gold estimates Fekola now contains 92.81 million indicated tonnes grading 1.92 grams gold per tonne for 5.73 million ounces of...Read More
WASHINGTON, Oct 25 (Reuters) - A sustained stock market sell-off would need to factor into the Fed’s policy debate, just as would any steady shift in financial conditions, Federal Reserve vice chair Richard Clarida said on Thursday.“Changes in financial conditions are something that is relevant for the economic outlook,” and need to be accounted for “if they are sustained,&...Read More