LONDON (Reuters) - Oil prices fell on Tuesday on evidence of higher U.S. oil production and increasing U.S. crude inventories, but reports of a fall in Iranian oil exports helped to limit losses.Brent crude was down 50 cents a barrel at $80.28 by 1320 GMT. U.S. light crude was 40 cents lower at $71.38.“Shale oil production continues unabated in the United States,” said Carsten Fritsch,...Read More
(Reuters) - UnitedHealth Group Inc added more members to its health insurance plans in the third quarter, helping the industry bellwether beat profit estimates and raise its earnings forecast for the full year.Kicking off the earnings season for the sector, the United States’ largest health insurer said on Tuesday it now expects adjusted profit to approach $12.80 per share in 2018, compared...Read More
These 2 stocks are in the red despite broad-market tailwindsThe Dow is trading higher out of the gate this morning thanks to upbeat corporate earnings. However, not every stock is gaining after earnings. Take for example investment management giant BlackRock, Inc. (NYSE:BLK) and restaurant chain Domino's Pizza, Inc. (NYSE:DPZ), which are both in the red this morning. We'll take a closer look at sh...Read More
ADBE is finding support near its 200-day trendlineThe shares of Adobe Systems Incorporated (NASDAQ:ADBE) are up 7.2% to trade at $255.25 this morning, after the company confirmed at its analyst day its fourth quarter revenue and profit forecast, while expecting 20% revenue growth in 2019. The event drew rave reviews from analysts, with Barclays issuing a price-target hike to $304 from $297. In ad...Read More
TOKYO (Reuters) - The number of Japanese companies affected by the U.S.-Sino trade war has jumped to a third, soaring from just 3 percent in May with firms fretting about prospects for their exports from China as well as slower Chinese demand, a Reuters poll found.The survey also showed 53 percent of firms were worried about the fallout from the escalating trade friction and that some, albeit stil...Read More
(Reuters) - BlackRock Inc (BLK.N) reported a better-than-expected quarterly profit on Tuesday, helped by lower taxes, but the company’s sales growth sank as investors cut risk in their portfolios.The company’s revenue and earnings before interest and taxes nonetheless fell short of Wall Street’s estimates as BlackRock reported its lowest sales of equity, bond and other long-term...Read More
UnitedHealth stock has already been an analyst favoriteShares of UnitedHealth Group Inc (NYSE:UNH) are 3.7% higher in electronic trading -- and could hit a new record high today -- after the Dow name reported an adjusted third-quarter profit beat of $3.41 per share and raised its full-year earnings outlook. UnitedHealth cited an increase in health insurance members as one of the notable catalysts...Read More
Gold is “back in fashion,” says Lukman Otunuga, research analyst at FXTM. Spot metalhit a three-month high of $1,has been as high as $1,232.70 an ounce Monday andremains near that level, hovering just under $1,230 in early-Tuesday trading. “A combination of factors ranging from depressed equitymarkets, trade disputes, global growth fears and geopolitical tensions havebrought gold...Read More
Gold's explosive rally over the last couple of trading sessions is unlikely to continue. That's because the rally is not built on a solid sentiment foundation. Instead of beginning against a backdrop of widespread pessimism and investor despair, this rally began when the mood among gold market-timers was already surprisingly upbeat. According to contrarian analysis, this means that the current ral...Read More
(Reuters) - Brian Small will step down as chief financial officer of JD Sports (JD.L) after almost 15 years in the role, Britain’s biggest sportswear retailer said on Tuesday.Small will be replaced by Neil Greenhalgh who has the current role of group finance director, it added. Like Small, he joined the company in 2004.“The Board is delighted that a planned succession has been achieved...Read More
WASHINGTON (Reuters) - The U.S. government closed the 2018 fiscal year $779 billion in the red, its highest deficit in six years, as Republican-led tax cuts pinched revenues and expenses rose on a growing national debt, according to data released on Monday by the Treasury Department.New government spending also expanded the federal deficit for the 12 months through September, the first full annual...Read More
(Reuters) - Walmart Inc (WMT.N) lowered its earnings forecast for the year on Tuesday and said its e-commerce growth next year would be slower than the current fiscal year that ends in January, sending its shares down in premarket trading.Walmart’s earnings next year will be eroded by its acquisition of Indian e-commerce firm Flipkart in May for $16 billion, its largest-ever deal, in order t...Read More
BERLIN, Oct 16 (Reuters) - Germany’s economic outlook is clouded by an escalating trade dispute between the United States and China and by the growing threat of Britain crashing out of the European Union without a divorce deal, the ZEW institite said on Tuesday.“Expectations for the German economy are dampening above all due to the intensifying trade dispute between the USA and China,&...Read More
* Tria backing boosts hopes he will stay on in govt* Italian yields down 6-16 bps across the board* Italy/Germany yield spread tightens to 292 bps* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Updates pricing, adds quotes and results of Finland auction, ZEW survey)By Abhinav Ramnarayan and Virginia FurnessLONDON, Oct 16 (Reuters) - Italian government bond yields dropped across the boa...Read More
Corporate earnings so far today have been strongDow Jones Industrial Average (DJIA) futures are trading comfortably above fair value, as stocks eye a move higher out of the gate. A strong round of corporate earnings could help equities bounce back from yesterday's risk-off session, with Dow components Goldman Sachs (GS) and Johnson & Johnson (JNJ) both reporting earnings beats. Tech stocks will be...Read More
(Reuters) - U.S. stock futures signaled a slight recovery on Tuesday, as upbeat earnings reports from Morgan Stanley and UnitedHealth among others helped ease jitters over the impact of various global issues on corporate profits.Shares of Morgan Stanley (MS.N) rose 2.1 percent premarket after reporting a 19 percent increase in quarterly profit, with strong performance in its equities trading busin...Read More
The metals continue to hold theirground at higher levels; gold managed to hold $1,230 and silver $14.65. Allsigns point to higher prices, with both metals approaching key decision pointsonce again.The numbers to watch are $1,240 forgold and $14.80 for silver. A break above will be considered another breakoutand more than likely lead to a continuation of this rally while buildingstrength underneath...Read More
(Kitco News)- Gold continues to garner bids as macro fundamentals continueto favor the upside risk. Uncertainties surrounding global trade, the Italianbudget, Brexit and the upcoming mid-term elections in the U.S. have the globalfinancial markets on edge. Although the equity market has somewhat stabilized,we are still over 1,000 points away from last week's high. The market remainsnet short and fu...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
MELBOURNE/LONDON (Reuters) - The world’s biggest miner BHP nearly doubled its stake in SolGold Plc on Tuesday, vying for position with top shareholder Newcrest Mining as it eyes SolGold’s promising Cascabel copper-gold project in Ecuador.Under the deal, BHP will pay SolGold 45 million pounds ($59 million) for 100 million new shares in the company at a 28 percent premium to the stock&rs...Read More