For the most part, gold has held on to the recent gains which occurred on Thursday of last week and continued into trading yesterday. Currently, gold futures basis the most active December Comex contract is trading down $2.30 and is fixed at $1,228 per ounce. Gold traded to an intraday high today of $1235.90, which is just below yesterday's high. However, gold could not hold onto its modest gains...Read More
These Top 10 lowest cost gold mines are all below all-in-sustaining costs (AISC's) $550/oz level and will prove profitable - even if the price falls 50%.Mining Intelligence looked at costs at primary gold mines and found 10 operations that would still make money, even if gold halves in value from today's levels. AISC metrics has been taken as a basis of comparison and ranking.Since the World Gold...Read More
The Nasdaq outperformed alongside a bounce in techU.S. stocks closed significantly higher in today's trading, with bullish sentiment stoked by impressive corporate earnings. Specifically, a strong post-report rally from UnitedHealth (UNH) helped send the Dow more than 567 points higher at its intraday peak, while traders also cheered results from big-cap names like Goldman Sachs (GS) and Johnson &...Read More
BRUSSELS (Reuters) - The European Central Bank has reached a preliminary decision to revoke the license of Malta’s Pilatus Bank after its chairman was charged with money laundering, two ECB officials told Reuters, though legal hurdles remain.The bank was accused of processing corrupt payments for the Azeri and Maltese leadership by investigative journalist Daphne Caruana Galizia, who was kil...Read More
(Reuters) - U.S. stocks surged on Tuesday after upbeat earnings reports from major companies including UnitedHealth and Goldman Sachs and solid economic data, as equities rebounded from a recent sharp sell-off.Wall Street’s three major indexes gained more than 1.5 percent each, with the Nasdaq up well over 2 percent.Technology, which sold off heavily in the recent pullback, led the gains as...Read More
GROUNDBIRCH, British Columbia (Reuters) - At a massive natural gas field in northern British Columbia, Royal Dutch Shell Plc is using new technologies and processes to cut emissions to address public and environmental group concerns that Canada’s nascent liquefied natural gas export industry could be a climate time bomb.The Groundbirch project, perched above Canada’s richest shale gas...Read More
(Reuters) - Goldman Sachs (GS.N) will slow loan growth in one of its key new business areas if it sees a marked deterioration in credit quality, potentially jeopardizing new Chief Executive David Solomon’s task to boost revenue by $5 billion by 2020.Stock trading and equity underwriting helped Goldman top profit estimates in the third quarter, the first for Solomon, who aims to reduce the ba...Read More
WASHINGTON (Reuters) - Public companies that fail to tighten their cyber security controls could be violating federal law, the U.S. Securities and Exchange Commission (SEC) said on Tuesday.The regulator’s warning came in the form of a report on its investigation to assess whether nine companies that had been victims of cyber-related frauds had sufficient internal accounting controls in place...Read More
(Kitco News) - Australian scientists are proposing to launch a satellite that would be able to look 300?km (186 miles) beneath the Earth’s surface, unlocking “Australia’s hidden mineral wealth,” according to the Australian Academy of Science's National Committee for Earth Sciences.This kind of “downward-looking telescope” would completely change the exploration...Read More
The cloud stock was off as much as 14% earlierThe shares of Twilio Inc (NYSE:TWLO) are sinking today, after the cloud developer said it is buying mass emailing specialist SendGrid (SEND) in an all-stock deal valued at roughly $2 billion. After surrendering as much as 14% in early trading -- sending it straight to the short-sale restricted (SSR) list -- TWLO stock was last seen down 3.9% at $73.20....Read More
Near-term MTCH options are pricing in low volatility expectations at the momentOnline dating name Match Group Inc (NASDAQ:MTCH) has put in a strong performance this year, up almost 72%. More recently, the stock pulled back during last week's broad-market sell-off, but found support near $50, which is home to its April highs. The shares quickly recovered -- gaining 1.9% on Thursday, when the Nasdaq...Read More
Both precious metals have extended their recent gains with gold trading at $1230 and silver at $14.75 at the time of writing. Silver in particular is looking quite interesting from a bullish point of view. Although it has lagged behind gold, the grey metal could be about to outperform the yellow. Silver was grinding higher for the fourth consecutive session on Tuesday while gold was up for the sec...Read More
LONDON/LUXEMBOURG (Reuters) - British Prime Minister Theresa May told her ministers on Tuesday they would secure a Brexit deal if they stood together, calling for a show of unity to silence those pressing her to rethink her strategy for leaving the European Union.A day before heading to Brussels for a summit, May is keen to show she has her cabinet’s support after facing pressure from some m...Read More
This could soon be the backbone of America's electrical grid.What would the perfect mining stock for this market look like?First, it would be an incredibly rare element... one with limited supply.Second, it would be an element now under the radar... but about to break out with predictable demand.Third, there should be a company working toward a virtual monopoly on this element...And these three th...Read More
(Reuters) - Wall Street’s top investment banks enjoyed a strong third quarter as strength in stock trading and equity underwriting added to the benefits from a strong U.S. economy and tax reforms.On Tuesday, Morgan Stanley (MS.N) showed gains from investment banking and trading businesses that outstripped those of traditional rival Goldman Sachs Group Inc (GS.N).However, Goldman’s equi...Read More
Lowe's pullback last week could have bullish implicationsLast week, Lowe's Companies, Inc. (NYSE:LOW) moved 3.9% lower with the broad market sell-off, extending its weekly losing streak to three. In the aftermath of Hurricane Michael, though, home repair supplies could be in high demand, which would drive the stock higher. As such, the recent pullback puts LOW in territory of a trendline with h...Read More
STLD will report earnings after tomorrow's closeShares of Steel Dynamics, Inc. (NASDAQ:STLD) are down 1.6% at $40.02 in afternoon trading, extending yesterday's analyst-induced sell-off. Credit Suisse slammed a number of steel stocks on Monday, and downgraded STLD to "neutral" from "outperform." The brokerage firm also slashed its price target to $51 from $55, saying rising interest rates could...Read More
NEW YORK (Reuters) - Stocks bounced back on Tuesday across the world, supported by earnings expectations, while oil prices fell on evidence of higher U.S. oil production and increasing U.S. crude inventories.European shares rallied, pulling up from Monday’s 22-month lows, partly on expectations that the reporting season will deliver double-digit earnings growth. A rebound in Italian assets h...Read More
GENEVA (Reuters) - U.N. human rights chief Michelle Bachelet called on Saudi Arabia and Turkey on Tuesday to reveal everything they know about the disappearance and possible murder of missing journalist Jamal Khashoggi and said Riyadh should waive immunity on its diplomatic premises and officials.Overnight, Turkish crime scene investigators entered the Saudi consulate in Istanbul, the last place K...Read More
PYPL shares are getting a boost todayU.S. stocks are soaring today thanks to strong quarterly earnings results. Three names that are joining in on the rally and trading higher following bullish analyst attention are digital payments specialist PayPal Holdings, Inc. (NASDAQ:PYPL), semiconductor concern Marvell Technology Group Ltd. (NASDAQ:MRVL), and blue chip The Coca-Cola Co (NYSE:KO). Below is a...Read More